SMCR Top Tips
We’re seeing lots of requests recently for SMCR training and support and I thought it might be useful to put together some top tips/things to think about for those responsible for this part of the business. There are links for more…
Category SMCR
Compliance Cosy Chat with Graham Jelf, LBMA, and Katharine Leaman
Drawing on decades of experience, Katharine shares key insights from her regulatory and commercial background with Graham Jelf of the LBMA. Together, they explore the impact of the Fair and Effective Markets Review (FEMR), the critical importance of senior management…
Who Owns Outsourcing and Third Party Risk Management Regulatory Compliance?
Key Takeaways Implementing a Robust TPRM Program With the stakes so high, creating a robust TPRM program is not just advisable; it’s imperative. This involves developing a framework that clearly defines the roles and responsibilities of all parties involved, and…
Are MRTs Truly Aware of Their Responsibilities?
Introduction In the intricate world of financial regulations, understanding the role and responsibilities of various individuals across your firm is crucial. Among the acronyms that frequently appear in financial discussions are MRTs (Material Risk Takers) and SMFs (Senior Management Functions),…
Consumer Duty Actions for SMFs
The FCA’s Consumer Duty is live. This duty sets out higher standards of consumer protection for all firms that provide financial services to retail customers. The Consumer Duty requires firms to put the needs of their customers first, and the…
How do you know you got SMCR right?
Negative indicators Positive indicators By now the process aspects of SMCR should be settling down into their own rhythm and the cultural aspects will be causing debate and driving change. If you are leaning more towards some of the negative…
FCA’s Supervisory Approach in 2021
In the absence of FCA publishing its annual business plan at the start of its financial year, publication having been pushed back a quarter to June when it publishes its Annual Report, we have put together some of the main…
Mirror, Signal, Manoeuvre: SMCR Top 6 before 31 March
Anyone who has had the dubious pleasure of taking a driving test in the UK will remember frequent reminders from their instructor to clearly emphasise checking your mirrors and making nice early signals so the examiner can see you do…
What’s going in your SMCR Breach Report?
Form H is the Notification of Disciplinary Action relating to conduct rules staff (other than SMF managers) in SMCR firms which is also known as REP008 in GABRIEL. Your breach report must cover breaches from 1 September 2021 to 31…