Outside Publication

Senior Managers Regime — Government U-turn on the Proposed 'Presumption of Responsibility', Financier Worldwide

December 2015

The Senior Managers and Certification Regime (SMCR), which has headlined regulatory news over the past 14 months, is currently undergoing major developments at government level prior to its official implementation on 7 March 2016. The regime proposes to address the shortcomings in professional standards within the banking sector by imposing stricter regulatory control and greater transparency within firms responsible for managing risk.

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