Thinkhouse - Gowling Wlg's In-house Lawyer Community

In July 2018 the UK Financial Conduct Authority (FCA) published its near-final rules on extending the senior managers and certification regime (SMCR) to all firms regulated by the FCA.   With SMCR now on the horizon, both employers and employees within regulated firms will need to understand how it will affect them. Hosted by our financial services and employment experts, this podcast will discuss: clarifying how the SMCR applies to different tiers of firms; the new categories of senior management functions; the new requirements relating to statement of responsibilities, the responsibilities map, the certification regime, the conduct rules and the prescribed responsibilities; the new training requirements; and the transitional provisions. We will also discuss employment-related issues in the context of the SMCR and aligning human resource processes with the SMCR. This includes reviewing and updating employment contracts and employee handbooks and incorporating fitness and propriety assessments