The Senior Manager and Certification Regime (SM&CR) applies to almost every UK solo-regulated firm, from very small firms (including sole traders and limited permission consumer credit firms) to some of the largest global firms.
The FCA has released what it calls an ‘explainer video’ to aid firms with implementation of the Certification Regime and the Conduct Rules ahead of the deadline on 31 March 2021.
You can view the short video here.
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Here are some key messages from the initial tranche of Consumer Credit applications
Must view FCA Webcast outlines clear requirements
The rules cover fee charging and come into force on 2 January 2015.
The FCA has issued part 3 of its three-cycle RDR Thematic Review
Clarifying Sales Models’ Boundaries
Steve Bailey Compliance FCA
FG15_1 clarifies the different types of sales models, the boundaries between them and the associated regulatory requirements.