Coronavirus (COVID-19) Update: FCA Statement – SM&CR And COVID-19 – Expectations On FCA Solo-Regulated Firms

The FCA issued a statement on 3rd April 2020 setting out its expectations to help FCA solo-regulated firms apply the SM&CR. Separate requirements apply to dual regulated firms. The FCA statement for solo-regulated firms can be viewed at the following link: https://www.fca.org.uk/news/statements/smcr-coronavirus-our-expectations-solo-regulated-firms Statements of Responsibilities and ‘significant changes’ to Senior [...]

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SM&CR: FCA to consult on proposals to make information available on a wider range of individuals at authorised firms

Of relevance to: All FCA-regulated firms not currently within the Senior Managers & Certification Regime Key date: Summer 2018 The Financial Conduct Authority (“FCA”) and the Prudential Regulation Authority (“PRA”) currently maintain a public Financial Services Register (“the FS Register”) of the firms they regulate and the individuals they have [...]

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FCA proposing to automatically convert individuals from the Approved Persons Regime to the Senior Managers and Certification Regime

Of relevance to: All firms regulated by the Financial Conduct Authority (“FCA”) Key date: Consultation closes 21 February 2018; implementation in late 2018 for Insurers and in mid-to-late 2019 for solo-regulated firms The FCA is consulting on its package of proposals on how firms and individuals will move to the Senior [...]

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