What is the Senior Managers and Certification Regime (SM&CR)?
THE SM & CR is guidance from the UK's FCA aimed at reducing harm to consumers and strengthening market integrity by creating a system that enables firms and regulators to hold individuals to account. As part of this, the SM&CR aims to:
• encourage staff to take personal responsibility for their actions
• improve firm conduct at all levels
• make sure firms and their staff clearly understand and can show who does what