19 investigations bring just one enforcement under new SMCR rules

In December this year, the reach of the SMCR will extend across all FCA regulated firms. Despite the FCA pursuing 19 investigations under the Senior Managers and Certification Regime, to date there has been only one successful enforcement action, research from Bovill shows. The findings come two and a half years after the regulation’s introduction, which aims to bring culpable senior individuals in financial services to account for misconduct.

Source: Financial Reporter
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