| Link(s): | DP23/3: Review of the Senior Managers and Certification Regime (SM&CR) | FCA DP1/23 – Review of the Senior Managers and Certification Regime (SM&CR) | Bank of England |
Context
In this joint Discussion Paper (DP) with the PRA, the FCA is seeking input on potential ways to improve the Senior Managers and Certification Regime (SM&CR) and is also asking for views on the effectiveness, scope and proportionality of the SM&CR.
Key points to note
In parallel with this Discussion Paper, the Treasury has launched a Call for Evidence and is also seeking feedback on the SM&CR. This DP should be read alongside the Treasury’s publication to understand the full scope of the legislation and regulatory requirements the FCA is inviting views on.
The FCA want your views on the issues explored in the Discussion Paper by 1st June 2023. The responses will be shared with the PRA and may also be shared with the Treasury.
Responses can be made through an online form, answering the questions in the publication, or you can email responses to: SMCR_DP@fca.org.uk.
Next actions
For firms that wish to respond to the Discussion Paper, you will need to do so by 1st June 2023.