UK extends conduct reforms to smaller firms

摘要

UK regulators want to extend the senior managers and certification regime (SM&CR) to about 47,000 financial services firms in 2018, from about 900 today. Basically, this concerns those regulated by the Financial Conduct Authority (FCA). It should not come as a surprise that UK regulators are proposing such a move, as the UK Treasury said that this was a desired outcome back in October 2015.