SFE/MMS Seminar on the Senior Managers and Certification Regime

Date: Wednesday 27 September 2017

17:00 Arrival
17:30 Seminar
18:30 Q&A
19:00 Drinks and a further opportunity to ask questions
19:30 Close
Venue: Maclay, Murray & Spens,
Quartermile One, 15 Lauriston Place, Edinburgh, EH3 9EP

SFE, working with Maclay, Murray & Spens LLP is delighted to invite you to a seminar discussing the FCA’s new draft rules for the Senior Managers and Certification Regime.

The Senior Managers and Certification Regime (SMCR), to which UK banks, building societies, credit unions and PRA-designated investment firms are presently subject, will be extended in 2018 to cover all FSMA authorised firms.

Implementation of the SMCR will be a significant regulatory challenge for firms, and the FCA has already issued Feedback Statements regarding implementation of the regime by banks in which it noted several recurring deficiencies in the documentation supplied to it.

In implementing the SMCR, firms will need to consider issues such as:

  • Maintaining a comprehensive and up to date management responsibilities map that describes their governance arrangements and is consistent with the statements of responsibilities prepared for senior staff
  • Identifying their senior manager, certification and conduct rules staff pools
  • Ensuring their employment contracts, policies and procedures comply with the new regime.

This seminar, which has been rescheduled from its original date due to the timing of the FCA Consultation Paper containing the draft rules by which the SMCR will be extended, will see a cross-disciplinary team of MMS speakers address the various challenges posed by the new regime.

The Edinburgh seminar will also benefit from the participation of Scottish Financial Enterprise and include an industry perspective delivered by Graeme Jones, SFE Chief Executive.

To reserve a place, please click here.

This seminar is also being run in London, if this would be more convenient to attend, further details can be found here.