Introduction to the UK SMCR & FCA Code of Conduct

Course Outline & Objectives

This focused workshop is specifically designed to help those responsible for operating the Senior Managers and Certification Regime (SM&CR), get to grips with the requirements and identify how best to embed the obligations within business as usual for all new joiners to the firm and industry.

More specifically it will help you:

1. Effectively understand how the regime came about and what working inside the regime means, by examining past failures
2. Consider how to implement the requirements in light of the thresholds and obligations relevant to your firm and business model
3. Understand the longer-term implications of the regime and how to embed the requirements into your firm’s ongoing operating practices
4. Ensure you are up to date with the latest developments as the operational aspects of the extended regime are clarified
5. Benchmark your approach against market good practice
6. The programme is designed for delegates from FCA solo-regulated firms.

What Do We Cover?

• The history to SMCR; the Parliamentary Commission for Banking Standards (PCBS)
• The regulatory reaction
• The Fair & Effective Markets Review
• The road to Implementation
• Aims and Objectives of SMCR
• What is the SMCR, what does it mean and why does it matter
• Individual conduct rules, what are they and how do they apply
• Tier 2 Conduct rules for SMFs (SC1 to 4)
• Reasonable steps for SMFs
• Ancillary Roles

Who will benefit?

Anyone responsible for embedding the SM&CR and inducting new staff within a financial services organisation, especially individuals in Risk, Compliance and Operations. The course may also be of interest to Human Resources staff and to those in Internal Audit.