FCA expected to step up SMCR enforcement

January 14, 2020

Market participants are watching for steps from the UK Financial Conduct Authority to ensure compliance with the Senior Managers and Certification Regime, after the regulator criticized buy-side firms’ efforts.

In 2020, we expect the FCA to increase its supervisory visits to firms: They will be looking for them not just to comply with the new rulebook and conduct rules but to demonstrate they are adhering to the spirit of the regulation in their everyday business activities” KRM22 strategist Saeed Patel says.