The Senior Managers and Certification Regime (SM&CR) is a regulation that’s been nearly ten years in the making, and will impact the operation of FCA-registered firms for years to come.
Our timeline below shows the various milestones in the SM&CR’s evolution, and we’ll update this over time as more dates are added. Take a look:
SM&CR: Past, present and future
Directory data
Start date for FCA Directory Data (banks, insurers and their appointed representatives).
10 December, 2018Data entry
Initial date when FCA Directory multiple data entry facility was supposed to have been completed and made available.
10 December, 2018Certification employees
Deadline by which certification employees must be identified.
09 December, 2019Conduct Rules
Conduct rules take effect for senior managers and certification staff.
09 December, 2019Training delivery
Deliver conduct rules training to all senior managers and certification staff.
09 December, 2019FCA Directory data
Deadline for banks, insurers and their appointed representatives to submit data to the FCA Directory.
09 December, 2019
Directory data deadline
ORIGINAL DEADLINE for FCA solo-regulated firms to submit data to the Directory.
07 December, 2020Fit and proper testing
ORIGINAL DATE for all fit and proper testing of Certification Staff to have been completed.
09 December, 2020Conduct Rules
Conduct rules take effect for staff members who are not senior managers or certification staff.
09 December, 2020Fit and proper testing - revised
REVISED DATE for all fit and proper testing of Certification Staff to have been completed.
31 March, 2021Benchmark administrators - fit and proper certification
Deadline by which benchmark administrators must certify relevant employees as fit and proper.
07 Decemberr, 2021
