The Financial Conduct Authority (FCA) has published a policy statement making some changes and extending the existing Senior Management Certification Regime (SMCR).

As discussed in our recent overview of the extension, the SMCR is an accountability regime now applicable to all Financial Services and Markets Act 2000 (FSMA) authorised firms from sole traders to large asset management firms.

The final rules have now been published. These are not significantly different from those outlined in the consultation paper which was published at the beginning of the year on the extension of the SMCR regime.