Brokers to have a year longer than insurers for Senior Managers Certification Regime implementation
- 04 Jul
Insurance brokers have finally been given a deadline of 9th December 2019 to implement the Financial Conduct Authority’s Senior Managers and Certification Regime (SM&CR). Insurers were given their own deadline earlier this year, and have until 10th December 2018 to ensure their processes are compliant.
The key drivers behind the new rules are to encourage a culture of taking personal responsibility at all levels within a firm, and to ensure that firms and their employees understand where responsibility lies.
Read our article from last year to find out what the SM&CR means for marketing teams.