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Senior Managers and Certification Regime

SM&CR Solutions

The Senior Managers and Certification Regime (SM&CR) became enforceable for solo-regulated firms on 9th December 2019 and seeks to increase individual accountability within financial services. Laven can help you will the necessary documents and processes ahead of the time to ensure your firm is not caught out when the regulation comes into force.

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What is SM&CR?

  • The Senior Managers and Certification Regime (SM&CR) is an FCA initiative which affects UK regulated firms; it is not an EU-wide regulation.
  • SM&CR replaces the existing Approved Persons Regime (APER).
  • Aim: To hold all financial sector employees to higher standards of conduct and senior managers accountable for any misconduct that falls within their area(s) of responsibility. 
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Identify Firm Type

One of the key parts of the SM&CR is its tiered system to allow the regulation to scale to different sizes and types of Firm (Limited Scope, Core or Enhanced). This is the important first step in assessing your SM&CR plan. The FCA has stated that it will be contacting all Firms giving them their recommendation on the tier they fit in. 

Laven's SM&CR Solutions

Documents and Registers
Laven provides all the necessary templates for the documents and registers to be SM&CR-ready.
Compliance Manual and Monitoring Programme Updates
Laven's expert SM&CR consultants can facilitate the necessary updates to ensure your compliance manual and monitoring programme are up-to-date.
Bespoke SM&CR Advice
Ad-hoc assistance is on hand to answer any specific queries regarding SM&CR implementation, notably a full service to work out the Senior Management Functions (SMFs) and certified positions.
Online Training
The FCA wants you to know what is changing, Laven offers two training modules accessible through Laven's Online Training portal.

Contact Us

We are here to help. Contact us today to find out how we can assist your firm.

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