FCA: Changes to SM&CR regime aren't deregulation, they're better regulation

FCA SM&CR Changes, Plus Industry Comment

The latest from the FCA plus some comments below; Firms will benefit from reduced costs and greater flexibility, and find it easier to comply with the Senior Managers and Certification Regime (SM&CR), following reforms set out today by the Financial Conduct Authority (FCA) and Prudential Regulation Authority (PRA). The [...] The post FCA SM&CR Changes, Plus Industry Comment appeared first on .

UK Regulators Confirm First Wave of Changes to the SMCR

The FCA and PRA have finalised Phase 1 reforms to ease the SMCR’s administrative burden on firms, while HM Treasury confirmed future legislative changes.By Becky Critchley, Nicola Higgs, Rob Moulton, and Charlotte CollinsKey Points: The FCA and PRA’s initial amendments to the SMCR will largely take effect on 24 April 2026, including changes to the 12-week rule and additional guidance on SMF7s and reporting breaches of the Conduct Rules. HM Treas…

FCA and PRA ease SMCR rules to cut burden and support growth

The Financial Conduct Authority and Prudential Regulation Authority have set out reforms to the Senior Managers and Certification Regime (SM&CR), aimed at reducing costs for firms while maintaining accountability standards.

FCA and PRA confirms measures to streamline senior manager accountability - Credit Connect

The Financial Conduct Authority (FCA) and Prudential Regulation Authority (PRA) have announced that firms will benefit from reduced costs and greater

FCA and PRA finalise rules on SM&CR Phase 1 reforms; HMT confirms legislative changes for Phase 2

On 22 April 2026, the Financial Conduct Authority (FCA) and Prudential Regulation Authority (PRA) issued policy statements (PSs) setting out changes for the Senior Managers and Certification Regime (SM&CR) as part of Phase 1 of the reforms. HM Treasury (HMT) has also published its consultation response to support Phase 2 in which the regulators would be able to make additional changes if legislation is made.BackgroundIn December 2022, the govern…

FCA and PRA cut back senior managers regime

The FCA and PRA will overhaul the Senior Managers and Certification Regime (SM&CR) to cut the regulatory burden and cost for firms.The FCA said the changes will not water down the "core principle of senior leader accountability". Among the tweaks will be reduced annual checks… The post FCA and PRA cut back senior managers regime appeared first on Mortgage Finance Gazette.