Accountability standards questions remain as SMCR comes into force

clock • 2 min read

There are still questions over how the Financial Conduct Authority (FCA) will regulate key aspects of the Senior Managers & Certification Regime (SMCR), such as senior management "accountability", as the requirements come into force for all asset and wealth managers, according to legal experts. Applicable to the asset and wealth management sector as of today (9 December), SMCR introduces new administrative, regulatory and conduct requirements that banks and other large financial institutions have been subject to since 2016.] SMCR aims to reduce harm to consumers and strengthen market ...

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