The Senior Managers & Certification Regime (SM&CR) has been designed to improve public confidence in financial services and build trust with consumers.
The regime already applies to banks, building societies, credit unions and providers, however, it is being extended to all authorised firms from 9th December 2019.
From the very outset, the Financial Conduct Authority reminds firms that “the tone should be set from the top”. In other words, the behaviour of the most senior people within the business is likely to directly influence the culture of the organisation and therefore must meet expectations.
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