The Senior Managers Certification Regime

As of 9 December 2019, the Senior Managers and Certification Regime (SMCR) – also referred to as the ‘Accountability Regime’ – replaced the Approved Persons Regime for all Finance Conduct Authority (FCA) registered firms. As Face To Face Finance is a FCA regulated firm, these changes affect our business.

There are three main features to the SMCR:

Senior Managers Regime

Each senior manager will have a Duty of Responsibility and a Statement of Responsibility. They are designed to enhance senior managers’ accountability within a firm. It requires them to take reasonable steps to ensure any areas of the firm they are responsible for complies with the relevant requirements and standards of the regulatory system.

The Certificate Regime

All employees who play a role that can affect the firm and its customers in a negative way fall under this regime. This will include those employees who interact with clients, are material risk takers, are proprietary or algorithmic traders or who perform a significant management or supervisory role. These employees are known as certified staff.

The Conduct Rules

The conduct rules are principles designed to ensure a high standard of behaviour for all staff (except for those in ancillary roles who do not perform a role specific to financial services). They ensure that employees are conducting their role with honesty and integrity and perform with skill, due care and attention.

You can find out what we have done to prepare for the SMCR change here.

Our Certified Staff

Under the SMCR we must assess that our certified staff are checked for their fitness and propriety for their role. As of 9 December 2020 all of our Certified Staff will be displayed on the new FCA directory, in line with the new regulations.

If you have any questions or queries regarding the SMCR scheme or any of our certified staff, don’t hesitate to get in touch.

Address: Suite 6b, Cringleford Business Centre, Intwood Road, Cringleford, Norwich, Norfolk, NR4 6AU
Phone: 01603 625100
Email: [email protected]

Staff MemberStatement of Professional Standing Valid UntilAccredited Body
Ralph Hunt30/4/2023The London Institute of Banking and Finance (LIBF)
Julie Hunt19/6/2022The London Institute of Banking and Finance (LIBF)
Bob Barringer30/4/2023The Chartered Insurance Institute (CII)
Emma Knights28/2/2023The Chartered Insurance Institute (CII)