The FCA has released Consultation Paper CP25/21, proposing changes to the Senior Managers & Certification Regime (SM&CR). The aim is to shift from strict oversight to a ‘Trust and Verify’ model, giving firms more autonomy while emphasising the importance of robust record keeping and staying current with regulatory updates.
Key Considerations
The consultation has proposed several areas of change Cobra Network members may wish to consider:
- Thresholds: The revenue threshold for ‘Enhanced’ firms will increase to £45 million, so more firms will fall . . .
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