Shorter Reads

SMCR implementation deadline imminent

Nigel Brahams comments on the expansion of the SMCR to cover all FCA regulated firms

1 minute read

Published 27 November 2019

Authors

Share

Key information

  • Sectors
  • Financial services

The expansion of the SMCR to cover all FCA regulated firms (from 9 December 2019) will change the way in which the directors and senior managers in those firms will approach risk. The SMCR has already closed the gaps between responsibilities within the banking and insurance sector and has made senior managers within those sectors much more cognisant that their conduct or lack of it has real consequences, not just for their firms but for them personally.

Typically some of the smaller FCA only regulated firms have operated on a more informal basis than their peers in the banking sector. The introduction of the SMCR will encourage individuals within smaller brokers, fund managers, IFAs etc. to consider the risks inherent to their activities with much greater rigour.

For more information on Collyer Bristow’s SMCR compliance services please click here.

Related latest updates
PREV NEXT

Related content

Arrow Back to Insights

Shorter Reads

SMCR implementation deadline imminent

Nigel Brahams comments on the expansion of the SMCR to cover all FCA regulated firms

Published 27 November 2019

Associated sectors / services

  • Financial services
  • Employment law for employees
  • Financial regulatory
  • Financial services

Authors

The expansion of the SMCR to cover all FCA regulated firms (from 9 December 2019) will change the way in which the directors and senior managers in those firms will approach risk. The SMCR has already closed the gaps between responsibilities within the banking and insurance sector and has made senior managers within those sectors much more cognisant that their conduct or lack of it has real consequences, not just for their firms but for them personally.

Typically some of the smaller FCA only regulated firms have operated on a more informal basis than their peers in the banking sector. The introduction of the SMCR will encourage individuals within smaller brokers, fund managers, IFAs etc. to consider the risks inherent to their activities with much greater rigour.

For more information on Collyer Bristow’s SMCR compliance services please click here.

Associated sectors / services

  • Financial services
  • Employment law for employees
  • Financial regulatory
  • Financial services

Authors

Need some more information? Make an enquiry below.

    Subscribe

    Please add your details and your areas of interest below

    Specialist sectors:

    Legal services:

    Other information:

    Jurisdictions of interest to you (other than UK):

    Article contributor

    Enjoy reading our articles? why not subscribe to notifications so you’ll never miss one?

    Subscribe to our articles

    Message us on WhatsApp (calling not available)

    Please note that Collyer Bristow provides this service during office hours for general information and enquiries only and that no legal or other professional advice will be provided over the WhatsApp platform. Please also note that if you choose to use this platform your personal data is likely to be processed outside the UK and EEA, including in the US. Appropriate legal or other professional opinion should be taken before taking or omitting to take any action in respect of any specific problem. Collyer Bristow LLP accepts no liability for any loss or damage which may arise from reliance on information provided. All information will be deleted immediately upon completion of a conversation.

    I accept Close

    Close
    Scroll up
    Get In Touch Print this page
    Collyer Bristow
    ExpandNeed a hand?Toggle

    < Back to menu

    I have an issue and need your help

    Scroll to see our A-Z list of expertise

    Get in touch

    Get in touch using our form below.