SMCR for Limited & Core UK Financial Services Firms (Udemy.com)

Understanding the Limited and Core Firms Options

( 0 Reviews )

Created by: Lee Werrell Chartered FCSI

Produced in 2021

What you will learn

Overview & journey to the SMCR
FCA SMCR Key Features
Senior Managers Regime - Explained
FCA Certification Regime
Conduct Rules - COCON
And More....

Quality Score

Content Quality

Video Quality

Qualified Instructor

Course Pace

Course Depth & Coverage

Overall Score : 0 / 100

Course Description

Why This Course?
Need a kick start to your SMCR project? well this course will equip you with everything you need to know and everything you need to do
The extension of the Senior Managers and Certification Regime (SM&CR) to investment firms in December 2019 represents a major overhaul of the way in which individuals working within financial services are regulated.
The new rules increase the number of employees who are subject to regulatory obligations, whilst significantly enhancing the accountability of those in senior management positions. They also impose potentially onerous obligations on firms, from the documentation of management responsibilities to the training of employees on the application of the Conduct Rules.
We have extensive experience in training senior managers and other staff who are subject to the SM&CR and we have developed a range of training solutions to suit a wide variety of requirements. You will also gain access to a 50% discount in our special offer promotion for a valuable aid to your implementation planning.
Run by a Chartered Fellow of the CISI and someone with years of experience in implementing the SMCR in the banking and insurance world, you will benefit from;

Leveraging the trainers experience with the banking roll-out; we look to unpick the lessons to be learnt for the SMCR extension to all regulated firms
Packed with practical exercises to focus on the identification of key employees and what you need to do in the lead in to SMCR
Conduct rules; what are they, what do they mean & why do they matter?
Walk away with a clear plan of your next steps for your SMCR implementation

The Course Objectives

Review and understand the history to the SMCR and where it came from
To know and understand the key employee categorisations within your firm, SMFs, CR, non-approved and ancillary
Be able to evaluate your SMFs; who are they and what they need to know
Analyse your CPs and define who will be in this category
Apply the conduct rules to your firm and your organisation
Review the breach process and how to apply within your firm, as well as when and why
Know who to train and what
Understand the need for accurate regulatory referencing under SMCR
Appreciate the need for accurate, effective and reflective governance and how you run your business.

In Summary
Originally rolled out to the banking sector in 2016, the Senior Managers and Certification Regime (SMCR) is about to be extended to around 47,000 additional firms.
Beginning with insurance companies, from December 2018, and reaching asset managers and other regulated firms in December 2019.
The Financial Conduct Authority (FCA) is tightening up its rules, replacing the current Approved Persons Regime with the Senior Managers and Certification Regime (SMCR). The regime has already been operating in the banking sector for some time and will this year extend to all within the financial services sector.
This change will affect all FCA regulated firms including non-UK firms with permission to carry out regulated activities in the UK, and it will focus on three key areas:

The Senior Managers Regime
The Certification Regime
Conduct Rules

The implementation date has been set for the 9th December 2019
Target group

All staff within authorised firms will be in scope
Senior Manager Functions (SMFs)
Certified Persons (CPs)
Non-approved
Also strongly recommended for those who will be directly involved in the implementation; Compliance & HR.

Who this course is for:

UK FCA Sole Regulated Financial Services Firms
UK FCA Sole Regulated Financial Services Individuals
UK FCA Firm Compliance Directors
UK FCA Firm Risk Directors
UK FCA Firm Directors
UK FCA Firm Compliance Managers

Time: 1.5h

Instructor Details

Lee Werrell Chartered FCSI

0.0 Rating
0 Reviews

Lee has worked with a range of organisations from small start-ups through to FTSE100 companies, many that have had difficulties identifying and managing governance, compliance and operational risk, and helped them develop effective, robust systems. He has adapted his experience from working with banks in the original Senior Managers and Certification Regime (SMCR) to develop this course and supporting materials with the practical skills based focus.
Lee has worked with many firms in the areas of regulatory change and uses his knowledge to provide you with the facts and workable solutions to the SMCR and it's implementation. Our clients include IFA networks and directly authorised firms, as well as insurers, asset managers, AIFMs, stockbrokers, banks, fintech start-ups, Claims Management Companies (CMCs), Consumer Credit Act companies (CCA) as well as call centres and a number of companies outside the financial services industry.
Lee's skills, qualifications and experience make him ideal for supporting anyone wishing to develop top-class knowledge in the management of regulatory change.