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Introduction to the SM&CR eLearning

CCL Academy
Course summary
Next available date: Ongoing - London
e-learning / Online / Distance

Course description

Introduction to the SM&CR eLearning

The Senior Managers and Certification Regime (SM&CR) is widening beyond banks and insurers to all firms authorised to provide financial services under the Financial Services and Markets Act. It will replace the existing Approved Persons Regime for these firms in late 2019.

The crux of the SM&CR is that it will create a system that enables firms and regulators to hold people to account – particularly the senior management tier and most of those currently fulfilling controlled functions as approved persons. Accordingly, it is vital that key members of staff are aware of what is coming and how it is likely to impact them and the firm.

This eLearning module provides a focused and coherent synopsis of the SM&CR that is perfect for raising awareness as implementation approaches.

Training Course Content

Topics covered include:

  • The structure of the SM&CR
  • Why the SM&CR is being introduced
  • Senior management under the SM&CR
    • Senior management functions (SMFs)
    • Governing functions
    • Required functions
    • Statements of responsibilities
    • Prescribed responsibilities
    • Responsibility breaches
    • Non-executive directors
    • Criminal record checks and references
  • SM&CR's certification requirements
    • The logic and example roles
    • Certification functions
    • Need for firm certification
    • Chains of responsibility
    • Fit and proper test
    • Criminal record checks and references
  • SM&CR's conduct rules
    • Two tiers in the FCA code of conduct (COCON)
      • Individual conduct rules
      • Additional rules that only apply to senior managers
    • The training requirement
  • The implementation calendar for the SM&CR
    • Implementation date
    • Transitional procedures
  • Course assessment

About provider

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CCL Academy - Governance, Risk & Compliance Training for the Financial Services Industry

CCL Academy is a specialist GRC training company and have been training financial services firms on their regulatory compliance obligations for 30 years. Our extensive team of highly experienced Compliance and Financial Crime Compliance (FCC) professionals have decades of experience...

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CCL Academy

Birchin Court
20 Birchin Lane
EC3V 9DU London

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