Senior Managers and Certification Regime

Train your staff on the conduct rules under SM&CR and how they apply to them

Key Learning Points:

  • Rules that apply to staff at different levels under SM&CR
  • Conduct rules applicable to Senior Managers
  • Key questions about Conduct Rules and Fitness and Propriety requirements
  • Key questions about Certification Regime and Senior Managers Regime
  • Applying your understanding of SM&CR to your organisation and role
Senior Managers and Certification Regime
Senior Managers and Certification Regime
Senior Managers and Certification Regime
Senior Managers and Certification Regime
Senior Managers and Certification Regime
Senior Managers and Certification Regime
CPD Points

Course Overview

With the Senior Managers and Certification regime (SM&CR), the Financial Conduct Authority (FCA) is aiming to promote a proactive culture of responsibility and to improve conduct in financial markets.

This immersive eLearning course is ideal for all employees of regulated organisations and will help them understand the conduct rules under each regime and how they apply to various individuals within the firms.

This course guides the learners through the requirements of the SM&CR conduct rules and invites them to apply a range of key questions to their own role and the firm, to help ensure that they and their firm remain compliant.

Course Details

  • Course duration: 30 minutes
  • Immersive learning experience
  • Certificate on completion
  • Course can be tailored using Adapt Authoring Tool
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Course Contents

This online training course on Senior Managers and Certification Regime (SM&CR) is broken down into three main topics:

The Conduct Rules and Fitness and Propriety
The Conduct Rules and Fitness and Propriety
The conduct rules enable the Financial Conduct Authority (FCA) to take enforcement action against almost anyone carrying out financial services activities. This topic covers who falls within the scope of the SM&CR and who must obey the Individual Conduct rules. The topic also explores the FCA guidance, how to report breaches and the Fit and Proper Persons test.
The Certification Regime
The Certification Regime
The Certification Regime applies to a range of non-Senior Managers whose activities could harm customers, firms or market integrity. The responsibility for the oversight of Certified Staff falls on firms, not the regulator, which is why they mist certify postholder’s competence and suitability annually. In this topic, learners will look at the certification functions and what are the firms’ responsibilities when it comes to certifying senior managers.
Senior Management Functions
Senior Management Functions
Senior Managers oversee a varied range of key risks, which can often be dependant upon the size of your firm. Under the SM&CR regime, Senior Managers must comply with additional conduct rules which are specific to themselves, in addition to the five individual Conduct Rules. This topic goes on to explore the importance of conduct rules for Senior Managers and the ways in which their firms can ensure compliance.

Who Should Take This Course?

This eLearning course is recommended for employees of FCA regulated firms including:

  • Full-time staff
  • Certified staff
  • Senior Managers
  • Non-Executive Directors (NEDs)

The Assessment

Learners are tested on their knowledge with a quiz at the end of each topic. Each short quiz is measured by a risk-o-meter with learners taking the right decisions to keep the risks low. Learners must answer 80% of the questions correctly to pass the course. Learners can also take the assessment again to improve their score.

2 Ways of Purchasing

You can purchase our courses individually or for even better value you can purchase the complete range of Compliance, Health and Safety or Performance Management courses in one neat bundle.

1. Individual Licenses

If you buy courses on an individual bases you pay a price per learner, per course per year. You can run these courses on your own LMS if Xapi/SCORM compliant or you can take them.

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2. Complete Bundle

Buy all of the Compliance, Health and Safety or Performance Management courses in one great value package and receive unlimited benefits.

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1. Individual Pricing

Number of Learners Cost (per year)
1 - 10 29 / per learner
11 - 20 25 / per learner
21 - 50 20 / per learner
51 - 100 15 / per learner
101 - 150 10 / per learner
150+ POA

Exchange rates are updated regularly but are only intended as a guide.

2. Complete Bundle Pricing

If you buy all the Compliance, Health & Safety or Performance Management in a complete bundle, all features come as standard, no matter the size of your organisation!

Number of Learners Cost (per year)
1 - 100 30 / per learner
101 - 200 25 / per learner
201 - 300 21 / per learner
301 - 400 18 / per learner
401 - 500 15 / per learner
501 - 750 12.50 / per learner
751 - 1000 10 / per learner
1001 - 2500 8 / per learner
2501 - 5000 6 / per learner
5000 - 10,000 5 / per learner
10,000 + POA
Included Features
  • All courses in our catalogue
  • New courses added regularly
  • Branded, downloadable posters
  • Customise Course Content for Your Team
  • Astute eLearning Platform
  • Regular course updates
  • Dedicated Account Manager
  • Unlimited help desk support

Exchange rates are updated regularly but are only intended as a guide. Prices are based on a 2 year contract.

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Senior Managers and Certification Regime

With the Senior Managers and Certification Regime (SM&CR), the Financial Conduct Authority (FCA) is aiming to promote a proactive culture of responsibility and to improve conduct in financial markets. Under the SM&CR, there is an increase in the scope of personal accountability, making a wider range of people accountable. The SM&CR replaces the Approved Persons regime and applies to banks, insurers and 'solo-regulated firms' - regulated by the Financial Conduct Authority (FCA) from 9 December 2019. Train your employees on the conduct rules under SM&CR and which rules apply to whom.

Senior Managers and Certification Regime

FAQ's

If you have any questions that are not covered here, please get in touch.

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What is SM&CR?
The Senior Managers & Certification Regime (SM&CR) is an important part of the Financial Conduct Authority's (FCA) initiative to enhance the accountability and integrity of financial services firms in the UK. It replaces the Approved Persons Regime and from 9 December 2019, the SM&CR applies to all FCA regulated financial firms in the UK.
What are the main aims of SM&CR?
The SM&CR is designed to protect individual customers by improving the conduct of all employees and Senior Managers at FCA regulated financial firm. The main aim of SM&CR is that it requires all employees to be accountable for their actions and ensures they conduct themselves with increased integrity and transparency.
Why is it important to comply with SM&CR?
The SM&CR is established to monitor accountability for employee conduct at all regulated firms, including Senior Management. Breaches in compliance could lead to fines and loss of reputation. In March 2016, the FCA and the Prudential Regulation Authority inflicted a joint fine of £642,430 upon Mr Jes Staley, the Chief Executive of Barclays Group following his breach of a First Tier Conduct Rule.

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