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SMCR optimisation and final rules

The Senior Managers and Certification Regime (SMCR), which was introduced in 2016 to increase the accountability of individuals working in the banking sector, will be extended to the wider financial services industry on 9 December 2019. In preparation for this wider remit, the Financial Conduct Authority (FCA) launched a consultation on its proposed changes to “optimise” the regime. Its final policy statement was published on 26 July 2019.

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SMCR optimisation and final rules