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Understanding the SMCR: A guide for HR professionals in financial services firms

Download your free SMCR white paper

In December 2019, the Senior Managers and Certification regime (SMCR) will be extended to all financial services businesses that are regulated by the FCA – around 47,000 UK firms.

The SMCR aims to strengthen the integrity of the financial services market by improving the sense of personal responsibility among those who work in the sector, and by making sure firms clearly understand and can evidence who does what in their organisation, and how decisions have been made.

The SMCR will require firms to deal with large amounts of new documentation, as well as update their systems and processes. This will impact HR teams and people managers in particular because the changes will affect how they recruit, screen, manage and develop a significant proportion of their employees. They will need a far more accurate understanding of managers’ and employees’ responsibilities, will need to ensure that staff have the right skills and attributes to conduct their role, and must make sure their processes and digital systems can support this.

Download this guide to discover: 

  • The SMCR’s requirements, the FCA’s expectations, and what penalties firms could face for non-compliance
  • How the SMCR will affect HR processes 
  • HR’s role in leading SMCR change 
  • How Dudley Building Society’s HR team incorporated the SMCR into its way of working 
  • And much more  
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Understanding the SMCR: A guide for HR professionals in financial services firms

Download your free SMCR white paper

IR35 white paper

Enter your details to download your SMCR white paper