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Senior Managers and Certification Regime

SM&CR Solutions

The Senior Managers and Certification Regime (SM&CR) becomes 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

Laven will outline a list of action points that you need to complete in order to be SM&CR compliant. Including all deadlines that need to be adhered to before 9th December.
Laven can provide on-sight and online training for your staff to ensure they all understand SM&CR and the steps they need to be taking to ensure compliance.
Streamline your SM&CR compliance process through our Laven Tech software, designed to maximise efficiency and minimise the chance of human error.
Laven can help with the drafting of your Statements of Responsibility (SORs) and other compliance documentation to save you time and stress.

Contact Us

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

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