Coming soon... SM&CR for FMIs!

Download our handy guide to find out everything you'll need to know about SM&CR for FMIs.

Are you prepared?

On 20 July 2021, HM Treasury (HMT) published a consultation paper in which it proposes¬†the establishment of a Senior Managers and Certification Regime (SM&CR) for financial market infrastructures (FMIs) which are supervised by the Bank of England. The clock is ticking, and it’s vital to ensure that you stay up to date with developments.

Why apply the SM&CR to FMIs?

HMT highlights the systemic importance of FMIs. It recognises the fact that FMIs have been subject to increased regulation since the financial crises of 2008. However, it notes that existing legislation has tended to focus on the legal entity and makes very limited provision for oversight of individual conduct within FMIs. The government intends to address this deficiency through the introduction of an SM&CR regime.

Download the guide to learn more

The guide sets out the ways in which the SM&CR would apply to FMIs, as well as the types of entities included in the definition of “FMI”. We also provide explanations for some of the key concepts within SM&CR, as well as information on who the SM&CR applies to and what you can do to make sure you’re fully compliant.

Download the guide