The BVRLA is tightening up its rules, replacing the current Approved Persons Regime with the Senior Managers and Certification Regime (SM&CR). The regime has already been operating in the banking sector for some time and will next year extend to the financial services sector.

This change will affect all FCA-regulated firms including non-UK firms with permission to carry out regulated activities in the UK, and it will focus on three key areas:

1. The Senior Managers Regime
2. The Certification Regime
3. Conduct Rules


Source: BVRLA News feed

The BVRLA is tightening up its rules, replacing the current Approved Persons Regime with the Senior Managers and Certification Regime (SM&CR). The regime has already been operating in the banking sector for some time and will next year extend to the financial services sector.

This change will affect all FCA-regulated firms including non-UK firms with permission to carry out regulated activities in the UK, and it will focus on three key areas:

1. The Senior Managers Regime
2. The Certification Regime
3. Conduct Rules


Regime change afoot for FCA-regulated firms
Regime change afoot for FCA-regulated firms
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