Senior Managers and Certification Regime (SMCR) Workshop for Funds

£295.00 +VAT

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A Half Day Training Course

Senior Managers and Certification Regime Course Content:

Overview and journey to the SMCR regime

  • Key misconduct issues
  • The regulatory reaction
  • The Fair & Effective Markets Review
  • The road to Implementation
  • Aims and Objectives of SMCR
  • What is the SMCR, what does it mean and why does it matter

Key Regime Features

  • The enhanced regime
  • The core regime
  • The limited scope regime
  • Overview of new staff categorisations

Senior Managers Regime

  • SMF categories
  • Prescribed responsibilities
  • State of responsibilities
  • Management responsibility maps

Certification Regime

  • Significant harm functions
  • Fitness and Competency checks
  • Annual assessments
  • Self-certification

Conduct Rules

  • Individual conduct rules, what are they and how do they apply
  • Tier 2 Conduct rules for SMFs
  • Reasonable steps

Breach Reporting

  • The link between disciplinary issues and conduct rule breaches
  • Breach reporting obligations to the FCA

What we can learn from Phase 1 of the banking roll out

  • What we can learn from banking experience to date
  • Transitioning to the SMCR
  • Taking Action

Background of the Trainer:

During his banking career at UBS and Nomura, the trainer gained invaluable experience in a variety of front office and training functions, spanning across both financial markets and compliance. He brings a unique blend of market experience, technical knowledge and regulatory know-how to offer leading workshops designed to provide practical, flexible and commercial Compliance training solutions to clients.

The trainer worked at UBS from 2002 to 2016 in a variety of roles within the Equity business, the Business University and Compliance. Matt began his UBS banking career in Stock Lending and Equity Finance IT as a business analyst before moving into Prime Services as a Hedge Fund Account Manager where he was responsible for the relationship management of a portfolio of multi-billion dollar clients trading an array of diverse strategies across global locations.

He is now in the unique position to offer Compliance training designed to decipher the complexity and equip your employees with the knowledge they need to remain compliant and competent within their roles.

Senior Managers and Certification Regime Course Summary:

The Financial Conduct Authority (FCA) is tightening up its rules, replacing the current Approved Persons Regime with the Senior Managers and Certification Regime (SMCR). The regime has already been operating in the banking sector for some time and will this year extend to all within the financial services sector.

This change will affect all FCA regulated firms including non-UK firms with permission to carry out regulated activities in the UK, and it will focus on three key areas:

  1. The Senior Managers Regime
  2. The Certification Regime
  3. Conduct Rules

The Treasury will set the timetable for the implementation of the new regime and a policy statement is scheduled for Summer 2018.

Target group

  • All staff within authorised firms will be in scope
  • Senior Manager Functions (SMFs)
  • Certified Persons (CPs)
  • Non-approved
  • Also strongly recommended for those who will be directly involved in the implementation; Compliance & HR.

Format

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21 June 2018