On 30 March 2023, the Financial Conduct Authority (FCA) and UK Prudential Regulation Authority (PRA) published a joint discussion paper on the review of the Senior Managers and Certification Regime (SM&CR), inviting responses by 1 June 2023.
The FCA and PRA are seeking views on the effectiveness, scope and proportionality of the SM&CR, and potential improvements to the regime. Of particular interest is how the regime is operating in practice (we include comments from the employee perspective).
You can read our full response in the PDF below:
If you need advice on the Senior Managers and Certification Regime (SM&CR), please contact Nick Wilcox (nickwilcox@bdbf.co.uk) or your usual BDBF contact.
