Firms Struggle with SM&CR Compliance and Preparations

As all FCA-regulated firms will fall into scope of the Senior Managers and Certification Regime by the end of the year, concerns emerge on how to implement the regulation.


Many financial institutions, including UK-based asset managers and market structure firms—known in regulatory speak as solo-regulated firms—mandated to comply with the Senior Managers and Certification Regime (SM&CR) by December 9 have yet to fully implement or understand the rule, say industry experts.

As part of the regulators’ SM&CR, the chief operations senior management function 24 (SMF24) states that individuals in top-level roles—such as COOs and CTOs—will be held personally responsible

Only users who have a paid subscription or are part of a corporate subscription are able to print or copy content.

To access these options, along with all other subscription benefits, please contact [email protected] or view our subscription options here:

You are currently unable to copy this content. Please contact [email protected] to find out more.

To continue reading...

You need to sign in to use this feature. If you don’t have a WatersTechnology account, please register for a trial.

Sign in
You are currently on corporate access.

To use this feature you will need an individual account. If you have one already please sign in.

Sign in.

Alternatively you can request an individual account here: