During a recent workshop, the FCA commented on SM&CR training. They do not believe that some e-learning or short generic training meets their requirements.
We believe that this is primarily a reference to the need for all staff to understand the intention of the SM&CR to move firms to a culture of accountability at all levels. Accordingly, Conduct Rules training should include the opportunity for individuals to identify how these apply to their own organisation and, in particular, to their role within the organisation.
FCA reminder of SMCR Implementation
Alistair MacDougall Compliance FCA, SM&CR
Firms are reminded of the requirements and deadlines for implementing the SM&CR.