Are You Ready For SM&CR?

The Senior Managers and Certification Regime (SM&CR) is the most powerful financial services regulation to affect the consumer credit sector. Individuals will now be personally liable for their professional conduct and that of the people they manage.

The regime applies to nearly 47,000 UK firms, impacting their processes, culture and governance; with the main aim of reducing harm to consumers.

SM&CR already applies to many other regulated financial services firms where the consequences of not getting compliance right now press hard on individuals. A Senior Manager of one of the UKs leading retail banks has already received a hefty personal fine under the regulation.

Meeting the requirements of SM&CR is a significant undertaking, however getting it right will help firms meet their other regulatory expectations.

CCAS has produced a guide to help firms break down the regulation into manageable parts. It also offers the key considerations for successful implementation by 9th December 2019.


Download the SM&CR guide for consumer credit firms>>>



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