FCA guidance paper on SM&CR

Regulatory Updates | 11/10/18

The FCA is consulting on guidance for FCA solo-regulated firms preparing for the Senior Managers and Certification Regime (SM&CR). The guidance aims to give practical assistance and information to firms preparing SoRs and Responsibilities Maps. The proposed guidance builds on the information the FCA published in the Guides to the SM&CR for solo-regulated firms. The guidance aims to help all FCA firms clearly set out Senior Managers’ responsibilities through SoRs. ‘Enhanced’ firms will also be able to use it to produce Responsibilities Maps which show how their firm is managed and governed. The FCA is seeking comments by 10 December 2018.