The government is proposing to extend the Senior Managers and Certification (SM&CR) regime to all sectors of the financial services industry, replacing the discredited Approved Persons Regime. The FCA has announced that the extension will take place in 2018. Currently, 10.500 individuals fall within the SMR and a further 32,302 within the certification regime. The extension will potentially bring a further 92,300 individuals into the SMR and 66.000 into the certification regime for the first time.
Given the fundamental changes that firms will need to make in advance of its implementation, it is widely acknowledged that they need to start preparing as soon as possible. Organised in response to widespread demand from the financial services industry, this summit is being held shortly after the publication of the FCA’s paper on how it plans to implement the extension of the SMR, which is due out before the end of the year.
The FCA has said that it will ensure that the extended regime appropriately reflects the diverse business models operating in the UK market and is proportionate to the size and complexity of firms.
We are particularly pleased that Megan Butler, Director of Supervision (Investment, Wholesale and Specialists), Financial Conduct Authority, has kindly agreed to give the opening keynote address at the summit.
Key topics to be covered include:
The summit addresses the needs of c-suite executives in those institutions that are due to fall within the ambit of the extended regime, including investment firms, insurance companies and consumer credit firms. The summit will also be of particular interest to heads of compliance, heads of operations, heads of legal, heads of internal audit and heads of training and education, as well as members of the advisory community, such as lawyers and accountants.
This conference is accredited by both the Solicitors' Regulation Authority and the Securities and Investment Institute for 6 Continuing Professional Development Points.
Tuesday, January 31, 2017 8:15 AM - 5:00 PMGMT Time
London venue TBCUnited Kingdom