Under the Senior Managers and Certification Regime (SM&CR) the FCA will publish and maintain a directory (the “FCA Directory”) of certified persons. The purpose of this is to enable consumers and professionals to check the details of key individuals working in financial services.
Under its original deadline, the FCA was due to publish the FCA Directory on the FC Register by the end of March 2020. However, on 25 March 2020, the FCA updated its SM&CR webpage to confirm that it had delayed the publication of the FCA Directory “for at least a month” due to the outbreak of the Coronavirus. The situation remains under review and the FCA will provide a further update in April 2020.
Note that the original deadlines for submitting information to the FCA regarding certification staff remain unchanged, being:
- 9 March 2020 (in the case of banks, building societies, credit unions and insurance companies); and
- 9 December 2020 (in the case of FCA solo-regulated firms).
The SM&CR is a complex regulation, with many different components, each of which can, and probably will, change over time. We can help you navigate this complicated regime, ensuring you, your business and your people can evidence compliance simply and effectively. Talk to us to find out more.
