Accountability standards questions remain as SMCR comes into force
New guidelines introduced at the start of December
MCR aims to strengthen market integrity by making individuals more accountable for their conduct
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...
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