SM&CR and approved persons regime

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Practice notes
Financial Conduct Authority—Principles for Businesses (PRIN)This Practice Note explains the Principles for Businesses (PRIN) set down by the Financial...
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19th May
Practice notes
Exempt consumer credit agreements under the FSMA 2000 (Regulated Activities) Order 2001This Practice Note seeks to explain the types of agreements...
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Produced in partnership with Rebecca Kellner of Orrick, Herrington & Sutcliffe and Jacqui Hatfield of Orrick, Herrington & Sutcliffe 19th May
Practice notes
Interaction between the PRA, FCA and FPCBREXIT: 11pm (GMT) on 31 December 2020 (‘IP completion day’) marked the end of the Brexit...
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19th May
Practice notes
Second Wire Transfer Regulation (EU WTR2 and UK WTR2)—essentialsThe Second Wire Transfer Regulation (EU) 2015/847 (WTR2), also known as the Funds...
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19th May
Practice notes
Overview of UK implementation of the Consumer Credit DirectiveBREXIT: 11pm (GMT) on 31 December 2020 (‘IP completion day’) marked the end of the...
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Produced in partnership with Sam Millar of DLA Piper and Tony Katz of DLA Piper 19th May
Practice notes
FCA client money rulesBREXIT: 11pm (GMT) on 31 December 2020 (‘IP completion day’) marked the end of the Brexit transition/implementation period...
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19th May
Practice notes
What are regulated activities?Under the general prohibition a person cannot carry out a regulated activity, or purport to carry out a regulated...
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19th May
Practice notes
FCA client classification requirementsBREXIT: 11pm (GMT) on 31 December 2020 (‘IP completion day’) marked the end of the Brexit...
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19th May
Practice notes
SM&CR—Statements of Responsibility (SoRs)Banks, building societies, credit unions, PRA-regulated investment firms and insurers are required to file a...
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19th May
Practice notes
EMIR REFIT and EMIR 2.2 roadmapRegulation (EU) 2019/834 (OJ L 141/42) (EU EMIR REFIT) was published in the Official Journal of the EU on 28 May 2019...
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19th May
Practice notes
The European Systemic Risk BoardBREXIT: 11pm (GMT) on 31 December 2020 (‘IP completion day’) marked the end of the Brexit transition/implementation...
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19th May
Practice notes
The Financial Services Compensation SchemeBREXIT: 11pm (GMT) on 31 December 2020 (‘IP completion day’) marked the end of the Brexit...
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Produced in partnership with Honor Levy of LexisNexis 19th May
Practice notes
Financial Services Compensation Scheme (FSCS)—the qualifying conditions for compensationThis Practice Note covers the conditions necessary for the...
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Produced in partnership with Honor Levy of LexisNexis 19th May
Practice notes
The Single RulebookBREXIT: 11pm (GMT) on 31 December 2020 (‘IP completion day’) marked the end of the Brexit transition/implementation period entered...
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Produced in partnership with DLA Piper 19th May
Practice notes
Unregulated collective investment schemes—essentialsWhat are unregulated collective investment schemes?In the UK, an unregulated collective investment...
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Produced in partnership with Lora Froud of Macfarlanes 19th May
Practice notes
Responsible lending requirements—CONC 5BREXIT: 11pm (GMT) on 31 December 2020 (‘IP completion day’) marked the end of the Brexit...
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Produced in partnership with Jacqui Hatfield of Orrick, Herrington & Sutcliffe 19th May

Most recent SM&CR and approved persons regime content

Practice notes
Senior management arrangements, systems and controlsThis Practice Note outlines the requirements of the Senior Management Arrangements, Systems and...
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14th Sep
Practice notes
Regulatory action against Senior ManagersLexis®PSL Financial Services FCA/PRA Enforcement Database: This incorporates detailed information on all...
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Produced in partnership with Lucy Kerr of RPC and Jonathan Cary 20th Aug
Practice notes
Offence of causing a financial institution to fail and other offences under FS(BR)A 2013Introduction to the senior managers regimeThe Senior Managers...
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Produced in partnership with Michael Potts of PCB Byrne 20th Aug
Practice notes
SM&CR—application to insurersOn 7 March 2016, the Senior Managers and Certification Regime (SM&CR) replaced the Approved Persons Regime (APR) for UK...
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Produced in partnership with Carol-Ann Burton and Margarita Kato of Holman Fenwick Willan LLP and Dominic Pereira as research contributor 12th Aug
Practice notes
SM&CR—essentials for solo-regulated firmsOn 9 December 2019 (Commencement), the Senior Managers and Certification Regime (SM&CR) was extended to firms...
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11th Aug
Practice notes
SM&CR—essentials for claims management companiesIntroductionThe Financial Conduct Authority (FCA) took over regulation of the claims management sector...
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11th Aug
Practice notes
SM&CR: Applications to perform SMFs, notifications, and withdrawal of approval The Senior Managers and Certification Regime (SM&CR) and the Approved...
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11th Aug
Practice notes
Coronavirus (COVID-19)—implications for the Senior Managers and Certification Regime (SM&CR)The Financial Conduct Authority (FCA) and the Prudential...
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11th Aug
Practice notes
FCA—Statements of Principle and Code of Practice for Approved PersonsBREXIT: 11pm (GMT) on 31 December 2020 (‘IP completion day’) marked the end of...
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11th Aug
Practice notes
SM&CR—FCA and PRA Fitness and Propriety requirementsThe Senior Managers & Certification Regime (SM&CR) is the Financial Conduct Authority’s (FCA) and...
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Produced in partnership with John Drabble of Kemp Little LLP 11th Aug
Practice notes
Non-executive directors (NEDs) and effective corporate governance—expectations of the Financial Conduct Authority (FCA)General role and responsibility...
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11th Aug
Practice notes
Conduct Rules for SM&CR FirmsBREXIT: 11pm (GMT) on 31 December 2020 (‘IP completion day’) marked the end of the Brexit transition/implementation...
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Produced in partnership with Mark Compton and Lauren Smith of Mayer Brown International LLP 11th Aug
Practice notes
SM&CR—Statements of Responsibility (SoRs)Banks, building societies, credit unions, PRA-regulated investment firms and insurers are required to file a...
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11th Aug
Practice notes
SM&CR—one minute guideThe Senior Managers Regime and Certification Regime—what is it?The Senior Managers, Certification Regime (SM&CR) and Conduct...
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11th Aug
Practice notes
FCA—APR controlled functions for benchmark administrators and appointed representativesBREXIT: 11pm (GMT) on 31 December 2020 (‘IP completion day’)...
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11th Aug
Practice notes
Certification Regime for SM&CR firmsThe Certification Regime (CR) is one component of the broader Senior Managers & Certification Regime (SM&CR), the...
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11th Aug
Practice notes
SM&CR—policy development and key datesOn 7 March 2016, the Senior Managers and Certification Regime (SM&CR) replaced the Approved Persons Regime (APR)...
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11th Aug
Practice notes
Directory Persons and the Financial Services RegisterUnder the Senior Managers and Certification Regime (SM&CR), the FCA committed to expanding the...
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11th Aug
Practice notes
SM&CR—essentials for banks and PRA-designated investment firmsBREXIT: 11pm (GMT) on 31 December 2020 (‘IP completion day’) marked the end of the...
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11th Aug
Practice notes
SIF interviews BREXIT: 11pm (GMT) on 31 December 2020 (‘IP completion day’) marked the end of the Brexit transition/implementation period entered into...
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11th Aug

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