Certification – What it Means for You

Refreshed September 2024 | CPD time: 30 Minutes

The Senior Managers and Certification Regime (SMCR) originally came into force in March 2016. Initially, it applied to all banks, building societies, credit unions, certain investment firms and subsequently to insurers. All these firms are dual regulated by both the Prudential Regulation Authority (PRA) and the Financial Conduct Authority (FCA). Since 9 December 2019, the coverage of the SMCR has been extended to include all firms solo-regulated by the FCA. This module has been designed to explain the Certification Regime to those individuals who are subject to it. There are separate Professional Refresher modules about the Senior Managers Regime and the Conduct Rules and Code of Conduct. You may also find it helpful to work through these.