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Senior Managers and Certification Regime (SMCR)

The UK's Senior Managers and Certification Regime (SMCR) establishes a framework for individual accountability in regulated financial services firms,…

What Senior Managers and Certification Regime (SMCR) requires

The UK's Senior Managers and Certification Regime (SMCR) establishes a framework for individual accountability in regulated financial services firms, requiring firms to clearly allocate responsibilities to Senior Managers (Senior Management Functions - SMFs) and annually certify that other key staff are fit and proper for their roles, as mandated by the Financial Services and Markets Act 2000 (FSMA).

Pillar: Banking & Global Finance · Authority: Financial Conduct Authority (FCA) and Prudential Regulation Authority (PRA) · Version: 1.0.0 · Last updated:

Primary source: https://www.fca.org.uk/firms/senior-managers-certification-regime

SHA-256 integrity: c2bbb3f0c33f510dcb4d03a12995744de972fe89ecc61cc9bde159956e211937

Primary Citations — 6 traced to source

  • Financial Services and Markets Act 2000 (FSMA), Part V - Performance of Regulated Activities
  • FCA Handbook, Senior Management Arrangements, Systems and Controls (SYSC), Chapter 23-27

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