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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The FCA is encouraging firms to ensure they are registered on Connect.
The FCA has stated its position on phoenixing type practices.
There is an ever increasing use of DFM solutions for client portfolios but many firms might not have authority to refer clients to a DFM.
The FCA has issued some further gudance for firms.
FCA letter to DB Transfer firms
Alistair MacDougall Compliance 2019, FCA, Pension, Pension Transfer
The FCA is writing to around 1700 firms requesting that firms review their transfer advice processes and report back.