City HR Members only

The Senior Managers and Certification Regime comes into effect for FCA solo-regulated firms on 9th December and firms have been engaged in extensive preparations to meet the required deadlines. However, following the publication of the FCA’s “Senior Managers and Certification Regime Banking Stocktake Report” what is next for those already in scope and how will this impact those embarking on this regime?  The City HR Taskforce looks at the lessons learnt from Phase 1 in-scope firms and whether these can be applied for Phase 2. Furthermore, the Banking Standards Board have been conducting a review on regulatory references and guidance on this is due out in September.

This session will focus on:-

  1. Lessons learned from SMCR Phase 1. Gain insights from employment and regulatory lawyers on what this means now and in the future
  2. Regulatory References: Guidance from the Banking Standards Board on their September 2019 publication. Overview by Helen Reeve-Morris, Director of Policy, Research and Strategy, Banking Standards Board
  3. The SMCR Countdown:

9 December 2019: The SM&CR will commence for solo-regulated firms.

10 December 2019: Insurers must have trained all conduct rules staff on the conduct rules and issued the first certificates for certification staff.

9 December 2020: Solo-regulated firms must have trained all conduct rules staff on the conduct rules and issued the first certificates for certification staff.

  1. The screening process: What are firms doing to be compliant with SMCR?  Caroline Smith, Associate General Counsel at HireRight
  2. Enforcement and litigation: What to avoid. What the lawyers have seen so far
  3. Employee Conduct Rules Training: Aligning the conduct rules to individual job roles and creating a positive culture
  4. Ask the Experts: Use our expert panel to seek guidance on outstanding issues and hear from your peers in the audience.