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Overview of SM&CR for FCA Solo Firms

Our SMCR Overview training course will help your employees understand the key steps needed to comply with the regime. That includes:

  • Preparing a Statement of Responsibilities
  • Pre-approval of Senior Managers by the regulators
  • Reasonable steps needed to stop regulatory breaches
  • Identification of all Certified Persons
  • Fit and proper assessment of all Certified Persons
  • Ensuring Senior Managers understand the duty of responsibility
Get started Course details
  • 30 Minutes
  • All staff
  • Based on UK legislation, but suitable for global audiences upon the removal of UK-specific references and translation as necessary.

Learning objectives

  • Understand the key elements of the SM&CR and how they apply to you
  • Be aware of the Senior Management Functions and the allocation of responsibilities in our Firm
  • Understand how fitness and propriety are assessed, and comply with the requirements
  • Understand and comply with the Conduct Rules
  • Understand and comply with the Certification Regime

    What can you expect your employees to learn?

Introduction

What is SMCR?

  • The 3 key elements

  • Who does the Senior Managers Regime apply to?

  • SMFs for insurers

  • SMFs for banks

  • Independence requirements & banned combinations of SMFs

What are Prescribed Responsibilities?

  • Allocating responsibilities - process flow

Hand-offs

Allocation of Responsibilities

NEDs & the Chairman

  • You make the call: Is the Chair or the Senior Manager responsible?

What can Senior Managers delegate?

Duty of Responsibility

  • Reasonable steps
  • What can  Senior Managers do to protect themselves?
  • Preventive measures

Assessing Fitness & Propriety

  • Honesty, integrity & reputation
  • Competence & capability
  • Financial soundness

The Certification Regime

Conduct Rules

  • Individual Conduct Rules
  • Senior Manager Conduct Rules
  • Compliance with Conduct Rules
  • Senior Manager compliance

Summary

Affirmation

Does your company have…

Under 50 employees?

We recommend our CoreCompliance solution, perfect for smaller teams. Start your training immediately with pre-configured, ready-to-go courses.

Learn more

Over 50 employees?

Identify risks, avoid violations, and safeguard your business. Our bribery prevention training teaches you how to protect your organisation’s reputation and avoid costly errors.

Explore plans

Your questions, answered

Common FAQs

Are the courses SCORM-compliant?

Yes. This means they can be delivered via the Skillcast Portal or any other SCORM-compliant Learning Management System.

What other tools are needed beyond training?

A comprehensive compliance solution often needs more than just training. Alongside e-learning, tools like declarations, surveys, and registers that track compliance tasks are usually essential. Skillcast provides full support to help you set up these additional tools.

Can users only view the courses assigned to them?

Yes. Users can view all the courses in the portal that have been assigned to them as either mandatory or optional. Courses that are mandatory will have a deadline shown.