The Senior Managers and Certification Regime will undergo its final extension to all solo regulated* firms in December. We are working on a guide and other materials to assist firms.
Meantime, the FCA has published a video that you might find helpful.
The video can be accessed here.
* A solo regulated firm is a firm that is regulated only by the FCA (and not also by the PRA).
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Although SM&CR for solo regulated firms does not commence until December, firms will benefit from doing some preparation in the coming months. This video might be of interest.
We are working on some materials and tools that will help firms prepare for SM&CR. Watch this space.
For information.
New disclosure rules that were intended to take effect from January 2017 have been put back one year.
Does your firm have sufficiently robust systems and controls, policies and procedures and governance in place to mitigate financial crime?
Are you completing your RMAR correctly?
If you have clients with overseas income or assets you might need to notify them of HMRC requirements.
P2P permissions – action required by 31 December 2016
Alistair MacDougall Compliance 2016
If you do not advise on P2P agreements, you need to consider whether you should remove this permission.