Who is impacted by SM&CR?

The Senior Managers & Certification Regimes (SM&CR)  reduce harm to consumers and protect market integrity.

• Limited Scope firms - Exempt from some baseline requirements and typically  have fewer Senior Management Functions. (SMF)
• Core firms - Required to comply with baseline requirements, including allocation  of SMF and producing Statements of Responsibilities
• Enhanced firms - Firms whose size, complexity and potential impact on consumers or markets warrant greater attention. Extra requirements include Responsibilities Maps, ‘Overall Responsibility’ and Handover procedures.