New FCA regime will emphasise individual accountability

Table of contents

• Changes Introduced by the SMCR
• Extraterritoriality
• What Should Firms Do?

Article summary

Law 360: From 9 December 2019, all Financial Conduct Authority (FCA) solo-regulated firms, as well as European Economic Area (EEA) and third-country branches will be subject to the Senior Managers and Certification Regime (SMCR) which will replace the current FCA Approved Persons Regime (APR).