SMCR extension countdown – near-final rules

The Financial Conduct Authority issued near-final rules on the extension of the Senior Managers and Certification Regime to all regulated firms on 4 July 2018. While the regime currently applies to banks and Prudential Regulation Authority-authorised firms, it will take effect for all FCA-authorised firms on 9 December 2019. Steve Murphy discusses the latest updates and key areas of concern for firms and individuals.

Steve Murphy, a professional adviser and former industry practitioner, is head of the financial services regulatory consulting arm at Hogan Lovells. Contact him on steve.murphy@​hoganlovells.com.

Changes announced

The proposed rules have not changedsignificantly, however amendments include: