The Senior Managers and Certification Regime (SM&CR) affects all Financial Services and Markets Act (FSMA) authorised firms including those within Asset Management, Banking, Capital Markets, Consumer Credit, Fintech, Insurance, Mortgages and Wealth Management. Following the implementation of SM&CR in December 2019, firms have a number of further requirements with a deadline of 31st March 2021. 

Compliancy Services provides a range of support options to all firms and individuals subject to SM&CR, helping you ensure you meet your regulatory obligations  whilst minimising the impact on your time and resources.

SM&CR FRAMEWORK REVIEW

Our SM&CR framework review provides a review and remediation service helping you to ensure you have everything in place and mitigating the risk of non-compliance with SM&CR requirements.

REMOTE COMPLIANCE AUDITS
REVIEW 

Our experienced consultants will review your existing SM&CR policies, procedures and documentation and provide feedback and recommendations on any areas requiring improvements. We can review:  

  • Statements of responsibilities
  • Management responsibilities map
  • Overall SMCR policy
  • Fitness & Propriety assessment process
  • Breach notification process and records
  • Conduct rules training process and records
  • Recruitment process (including regulatory references)
  • Reasonable steps documentation
File checks
REMEDIATION

Following our review, we provide support and remediation services to address any areas identified as non-compliant. This will be tailored to your specific requirements but may include: 

  • Produce list of items identified in Review
  • Provide Conduct Rules training
  • Assistance in assessing and reporting Conduct Rules breaches
  • Support in undertaking Fitness & Propriety assessments
  • Assist client in obtaining or providing Regulatory References.
  • Support new Senior Managers in preparing the Form A application and required supporting documentation 

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CONDUCT RULES TRAINING 

Delivered by our one of our experienced Compliance Consultant, we will: 

  • Provide training that is both interesting and interactive, including real breach scenarios and case studies to illustrate individual Conduct Rules 
  • Test your trainees' understanding of the subject, giving you the assurance that staff are aware of what conduct rules and breaches would mean
  • All materials produced are designed around your firm so we can ensure your staff can relate to Conduct Rules in the context of their day-to-day roles
  • Deliver training face to face or remotely through Zoom, Teams or the system of your choice, depending on your requirements
  • Provide you with relevant materials so these can be posted on your company intranet or e-learning platform 

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SIMPLIFYING THE MANAGEMENT OF SMCR

Compliancy.SMCR is our simple to use cloud based application reduces the cost and administrative burden and keeps your SM&CR on track.

  • Automated workflow processes
  • Shows your compliance status with its interactive dashboard
  • Document production, including Management Responsibilities Map, certificates and regulatory reference information
  • Provides current and historical evidence of your compliance
  • Identifies compliance gaps
  • Reminds you about forthcoming tasks and those to be completed
  • Streamlines your management reporting and governance
  • Full audit trail and documentation of reasonable steps 

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