Accountability standards questions remain as SMCR comes into force

New guidelines introduced at the start of December

There are still questions over how the Financial Conduct Authority (FCA) will regulate key aspects of the Senior Managers & Certification Regime (SMCR), such as senior management "accountability", as the requirements come into force for all asset and wealth managers, according to legal experts.

Applicable to the asset and wealth management sector as of today (9 December), SMCR introduces new administrative, regulatory and conduct requirements that banks and other large financial institutions...