Experience with dual regulated firms shows that you should not underestimate the considerable requirements across all areas of your firm to implement the regime. It is important firms are clear on the steps they must go through for each of the regimes, key implementation activities are shown below.
To assist firms we have created an SMCR Toolkit which includes an implementation guide as well as a full suite of templated policies, registers and other documents. For a limited period this Toolkit will be available free of charge.
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1. Conduct Rules training - for all levels of staff. May involve one to one or classroom training and is expected to include some form of e-learning
2. Breaches of conduct rules – defining what constitutes a breach and the process for monitoring and reporting
3. ‘Reasonable steps’ framework – ensuring the elements are in place to support Senior Managers in meeting their obligations
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Minimising your time and resources, reducing the regulatory burden
We can offer an end to end managed programme, support in discrete elements or you can select one of our three defined services that have been tailored to support organisations of different size, maturity and complexity - supported by our technology platform Compliancy.SMCR.