Schroders and Aviva Investors CEOs have warned of the dangers of the Senior Managers and Certification Regime (SMCR), which they said could enhance the hierarchical structure within asset management and lead to decisions being made by senior management who do not have the same specialist knowledge in a particular field as employees in the levels below them.
Speaking at the Investment Association's Culture In Investment Management event, Peter Harrison and Euan Munro said there would be a number of "unintended consequences" from the incoming regulation...
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