SMRC Solicitors

SMCR

The Senior Managers and Certification Regime (SMCR) was driven by UK Government’s desire to strengthen the accountability and to raise standards of individual conduct. It sets clear standards for the conduct that consumers and regulators expect from all financial services staff.  It is a total replacement of the Approved Persons Regime, and sets new rules re Senior Managers, Certification and Conduct.

All FSMA-authorised firms will be subject to SMCR. SMCR came into effect in the UK for dual regulated firms on 7 March 2016, and the FCA have set dates of 10 Dec 2018 for Insurers (all insurers and reinsurers regulated by FCA & PRA), and 9 Dec 2019 for solo regulated FCA firms.

book a workshop

The Law Boutique is offering a one-day workshop to help you understand SMCR and how it will apply to you. By the end of the session participants will be ready to start applying SMCR to their firm.

With the SMCR due to be implemented on 10 December 2018, this one day workshop looks to provide everything you need to know about SMCR.

WORKSHOP AGENDA

The session will cover:

  • Differences between SIMR and SMCR, with a description of SMCR and how it relates to Insurance

  • The challenges that SMCR presents and some insights to address

  • Transition of Approved Persons to Senior Managers, including Duty of Responsibility

  • Identification of Certification Staff

  • Training in Conduct Rules

  • Steps that you can take to ensure successful implementation

OUTPUT

By the end of the session a draft Project Plan will have been produced providing an immediate way for you to start preparing for SMCR

RECOMMENDED AUDIENCE 

All are welcome but it is targeted for Management, Compliance and HR. There are no prerequisites, although exposure to SIMR would be helpful.

LOCATION

At your premises, or elsewhere by arrangement.

COST

Fixed price for the full one day course, for up to 10 people £1200 + VAT. Contact us to find out more about pricing for larger groups or hands-on support. 

 

about our trainer

 Meet Hilary, our lovely SMCR trainer.

Meet Hilary, our lovely SMCR trainer.

Hilary Shack, who is an Independent Practitioner specialising in implementing Regulatory change, will be leading our SMCR Workshops. 

Hilary has over 30 years of experience working at Executive Director level in Financial Services, including Regulatory bodies, Investment Banks and Wealth Management and in multiple locations including London and New York.

Starting life as a technology developer at the Bank of England, career experiences range from assisting in the development of a trading system, Business Program Manager of Global Custody initiatives, Head of New Client Implementation Services , Program Manager implementing SMCR at a Tier 1 Investment Bank, and most recently HR Consultant for Regulations including SMCR Extension and GDPR at a Wealth Management Private Bank.

Involved in SMCR since the beginning, Hilary has an in depth, hands on, practical knowledge of this regime, and is now fully involved in the SMCR Extension, aka Accountability 2.

Hilary is energetic, engaging and talented at explaining complex topics in practical terms. By the end of this workshop, you'll feel like you have an in-depth understanding of the Regulation as well as a 'to-do' list so you can begin your implementation.