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SM&CR | Peruse our blogs for the latest, fresh perspective on navigating the maze of global regulations and upcoming milestones. This is your shortcut to staying ahead, packed with insights and expert tips from the forefront of GRC innovation.

A Shared Vision: Accountability in the UK and Ireland

accountability, regulatory strategy, SM&CR, SEAR, Ireland, UK

"We believe that our proposed reforms will create a framework to facilitate the embedding of cultural change and ensure greater individual accountability." Derville Rowland, Speech on SEAR and Individual Accountability Framework, 2 May 2019

The Future of Accountability: SM&CR Reforms

accountability, innovation, regulatory strategy, SM&CR, regulatory updates, UK

“The SM&CR has driven up standards in financial services. But we want to boost competitiveness, and support growth, by streamlining the regime while preserving its benefits.” — FCA CP25/21

Unlocking Capital, Driving Innovation: The Chancellor’s Financial Services Agenda

innovation, regulatory strategy, SM&CR

“We are rewiring the UK’s financial system to unlock investment, drive innovation, and create skilled jobs across the country.” — Chancellor Rachel Reeves, Mansion House Speech 2025

“Regulatory Greens”: FCA’s Balanced diet

governance, accountability, SM&CR, Consumer Duty, GRC, financial crime

"Good strategy, like good nutrition, is all about balance. The right elements, working together, to support long-term health." (Emily Shepperd, FCA's COO, June 2024)

What lies ahead for Financial Services?

FCA, Regulatory initiative grid, regulatory strategy, SM&CR, Product Governance

The 8th edition of the Regulatory Initiatives Grid (Grid) was published in April 2025. It sets out more than 90 ongoing or upcoming policy and regulatory actions over the next 24 months affecting UK firms. The Grid signals a deeper regulatory intent to recalibrate UK...

Stress-Tested for Reality: Beyond Paper Plans

operational resilience, SM&CR, AI, third party risk

In a recent blog, the UK’s FCA strikes a frank and open tone: operational resilience is not a box-ticking exercise. This is a message that has been sent before, and we hear it again in this blog issued on 15th April 2025. Operational resilience is business critical....

Is SM&CR working?

accountability, SM&CR, audit trail, AI

SM&CR Under Review: What You Need to Know The SM&CR review was announced as part of the Edinburgh reforms towards the end of 2022, with HM Treasury indicating that “ some stakeholders have raised concerns about their experiences of specific aspects of the regime .”...

Why Managing Conflicts should still be on your agenda!

wealthmanagement, consumerduty, compliance, corporate governance, risk management, conflicts, SM&CR

Conflicts of interest is a subject matter that should be relatively easy to understand and as such, straightforward when it comes to compliance. Why then do we hear of senior managers who have failed to declare a potential conflict or to recuse themselves from related...

SM&CR: an update for FMIs

accountability, oversight, risk management, SM&CR, FMIs

UK Government issued a consultation paper last year setting out its proposals to replicate the Senior Managers & Certification Regime (SM&CR) for Financial Market Infrastructures (FMIs), who are not authorised firms. Here we look at the outcome of that consultation....

Do amended CPD requirements offer greater flexibility?

CPD, SM&CR, competence, audit trail

One of the fundamental obligations applicable to all regulated firms is the need to implement appropriate processes to manage risks. One such risk is that of providing unsuitable advice to consumers. This area has been a regulatory hot topic for some time. Remember the...

Assess & Prove Competence

governance, accountability, culture, corporate governance, oversight, Code of Conduct, SM&CR, competence, audit trail

The Senior Managers & Certification Regime (SM&CR) was first introduced in 2016 for banks and then phased in until it was finally extended to include the remaining regulated firms at the end of 2019. SM&CR aims to encourage greater accountability within firms whilst...

Has SM&CR made a difference?

governance, accountability, culture, remuneration, SIMR, SM&CR, certification, competence

The Senior Managers & Certification Regime (SM&CR) for insurers took effect in December 2018. As part of the Solvency II regime, insurers were already subject to the Senior Insurance Managers Regime (SIMR) introduced in 2016. Despite that, there were some new...

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