Calls for FCA to take charge on SMCR harassment rules

Guidance on dealing with misconduct ahead of regulation launch

Mike Sheen
The SMCR will apply to asset managers from 9 December 2019

The SMCR will apply to asset managers from 9 December 2019

The Financial Conduct Authority (FCA) must publish detailed guidance on how firms should handle harassment and sexual misconduct before the regulator considers enforcement under the Senior Managers & Certification Regime (SMCR), a law firm has urged.

The SMCR will apply to asset managers from 9 December 2019, placing upon the sector fresh administrative, regulatory and conduct requirements that banks and other large financial institutions have been subject to since 2016. FCA's Butler: Diversity is fundamental to business success and reduces failure The regulation aims to reduce harm to consumers and strengthen market integrity by making individuals more accountable for their conduct, while encouraging a culture of personal responsibility throughout businesses. Asset and wealth managers will soon face potentially unlimited fines...

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