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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.
This online training course on Senior Managers and Certification Regime (SM&CR) is broken down into three main topics:
This online training course on Senior Managers and Certification Regime (SM&CR) is broken down into three main topics:
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 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 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.
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.
Number of Learners | Cost (per year) | |
---|---|---|
1 - 10 |
£34.50 / per learner
€40.87 / per learner
$44.87 / per learner
|
|
11 - 20 |
£29 / per learner
€34.86 / per learner
$37.72 / per learner
|
|
21 - 50 |
£23 / per learner
€27.65 / per learner
$29.92 / per learner
|
|
51 - 100 |
£17.50 / per learner
€21.04 / per learner
$22.76 / per learner
|
|
101 - 150 |
£11.50 / per learner
€13.82 / per learner
$14.96 / per learner
|
|
150+ |
|
Number of Learners | Cost (per year) | |
---|---|---|
50 - 100 |
£34.50 / per learner
€41.48 / per learner
$44.87 / per learner
|
|
101 - 200 |
£29 / per learner
€34.87 / per learner
$37.72 / per learner
|
|
201 - 300 |
£24.50 / per learner
€29.46 / per learner
$31.87 / per learner
|
|
301 - 400 |
£21 / per learner
€25.25 / per learner
$27.31 / per learner
|
|
401 - 500 |
£17.50 / per learner
€21.04 / per learner
$22.76 / per learner
|
|
501 - 750 |
£14.50 / per learner
€17.44 / per learner
$18.86 / per learner
|
|
751 - 1000 |
£11.50 / per learner
€13.83 / per learner
$14.96 / per learner
|
|
1001 - 2500 |
£9.50 / per learner
€11.42 / per learner
$12.36 / per learner
|
|
2501 - 5000 |
£7 / per learner
€8.42 / per learner
$9.10 / per learner
|
|
5000 - 10,000 |
£6 / per learner
€7.21 / per learner
$7.80 / per learner
|
|
10,000 + |
|
Included Features
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.
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.
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.
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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