SM&CR—policy development and key dates—to 31 December 2024 [Archived]

Copyright © 2025 LexisNexis
Published by a LexisNexis Financial Services expert
Practice notes

SM&CR—policy development and key dates—to 31 December 2024 [Archived]

Copyright © 2025 LexisNexis

Published by a LexisNexis Financial Services expert

Practice notes
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This Practice Note tracks the development of policy and guidance related to the SM&CR, together with key dates, past and future. For key dates from 1 January 2025, see: SM&CR—timeline. For further information and LexisPSL resource on the SM&CR, see SM&CR and approved persons regime—overview. For an introduction to the SM&CR, including further details on future developments, see Practice Note: SM&CR—one minute guide.

For developments relating to culture, diversity and inclusion (D&I) and non-financial misconduct, see: Culture and D&I in financial services—timeline

ActionDate
The government announced it will consult on replacing the Certification Regime with a ‘more proportionate approach that reduces costs’. Both the FCA and the PRA said they will work with HM Treasury to achieve this. See News Analysis: UK unveils plan to roll back post-financial crisis safeguards; PRA responds to UK Government’s call for regulators to support economic growth, LNB News 20/01/2025 31; FCA responds to UK Government’s call for regulators to support economic growth, LNB News 17/01/2025 6114 November 2024
The FCA published its authorisations
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Jurisdiction(s):
United Kingdom
Related legal acts:
Key definition:
Requirements definition
What does Requirements mean?

A DCO should include “Requirements” to which the development authorised by the DCO is to be subject. Similar to planning conditions, a requirement specifies the matters for which detailed approval needs to be obtained before the development can be lawfully begin.

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