Blogs

Accountability in Financial Services

governance, accountability, SM&CR, MIC regime, FAR, BEAR, SEAR

Since the financial crisis of 2008 regulators worldwide have been introducing reforms to improve individual accountability within firms. Regulators were criticised for their lack of action and not preventing the crisis. Further criticism was aimed at firms’ failings...

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FMIs, Get set for SM&CR

accountability, SM&CR, certification, conduct rules

HM Treasury issued a consultation earlier in July. The proposals signal HMT’s intention to extend the Senior Managers & Certification Regime (SM&CR) to include Financial Market Infrastructures (FMIs). Interested parties should submit their responses by 22 October 2021....

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HR & Compliance – Bridging the Gap in SMCR

governance, accountability, culture, SM&CR, competence

Since the introduction of the Senior Managers and Certification Regime (SM&CR), it has been interesting to see how and where firms have allocated most of their resources to comply with the new rules. Implementation tends to follow one of two strategic approaches:...

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SMCR Responsibilities – Documenting Risks and Controls

governance, accountability, culture, corporate governance, SM&CR, competence

In light of the turbulence caused by the Covid-19 pandemic, SMCR may have been pushed down the priority list for most firms for now. The disruption has however given rise to a number of practical and compliance challenges which have a direct and imminent impact on...

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