SMCR Compliance and FCA Documents
SMCR compliance and FCA documents go hand in hand. Complying in one area can go a long way toward helping you comply in the other. Furthermore, firms with SMCR obligations will be required to comply with many of the general FCA Handbook rules.
When considering hwo you are going to comply with the Senior Managers Regime, you will need to read through the FCA’s guidance in this area. First, understand that the main aim of the SMCR is to reduce harm to consumers. Second, strengthening market integrity by making individuals more accountable is a key FCA focus.
Why Use SMCR Templates?
The Senior Managers & Certification Regime (SMCR) came into force for solo-regulated firms in December 2019. However, firms were given an additional year to train staff in the Conduct Rules. There was then a further extension until March 2021 for firms to assess and certify staff as fit and proper.
It is true that no 2 companies or business processes are the same. That said, the requirements set by the FCA under the SMCR apply to all firms equally. Completing documents such as a Statement of Responsibilities (SoR) and fitness and propriety (FIT) assessments are mandatory across the board. Additionally, all senior manager and certified employees must have full training in the SMCR Conduct Rules.
We are proud to have provided more than 11,000 firms with regulatory compliance documents. Moreover, at Know Your Compliance Limited, we excel at policy development and specialise in FCA policy templates.
Use our SMCR templates and FCA Toolkits to further your regulatory compliance and build a compliant, professional SMCR Framework today!
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