Overview of SM&CR for FCA Solo Firms
Our SMCR Overview training course will help your employees understand the key steps needed to comply with the regime. That includes:
- Preparing a Statement of Responsibilities
- Pre-approval of Senior Managers by the regulators
- Reasonable steps needed to stop regulatory breaches
- Identification of all Certified Persons
- Fit and proper assessment of all Certified Persons
- Ensuring Senior Managers understand the duty of responsibility
- 30 Minutes
- All staff
- Based on UK legislation, but suitable for global audiences upon the removal of UK-specific references and translation as necessary.
Learning objectives
- Understand the key elements of the SM&CR and how they apply to you
- Be aware of the Senior Management Functions and the allocation of responsibilities in our Firm
- Understand how fitness and propriety are assessed, and comply with the requirements
- Understand and comply with the Conduct Rules
- Understand and comply with the Certification Regime
What can you expect your employees to learn?
Introduction
What is SMCR?
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The 3 key elements
-
Who does the Senior Managers Regime apply to?
-
SMFs for insurers
-
SMFs for banks
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Independence requirements & banned combinations of SMFs
What are Prescribed Responsibilities?
- Allocating responsibilities - process flow
Hand-offs
Allocation of Responsibilities
NEDs & the Chairman
- You make the call: Is the Chair or the Senior Manager responsible?
What can Senior Managers delegate?
Duty of Responsibility
- Reasonable steps
- What can Senior Managers do to protect themselves?
- Preventive measures
Assessing Fitness & Propriety
- Honesty, integrity & reputation
- Competence & capability
- Financial soundness
The Certification Regime
Conduct Rules
- Individual Conduct Rules
- Senior Manager Conduct Rules
- Compliance with Conduct Rules
- Senior Manager compliance
Summary
Affirmation
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Your questions, answered
Common FAQs
Are the courses SCORM-compliant?
Yes. This means they can be delivered via the Skillcast Portal or any other SCORM-compliant Learning Management System.
What other tools are needed beyond training?
A comprehensive compliance solution often needs more than just training. Alongside e-learning, tools like declarations, surveys, and registers that track compliance tasks are usually essential. Skillcast provides full support to help you set up these additional tools.
Can users only view the courses assigned to them?
Yes. Users can view all the courses in the portal that have been assigned to them as either mandatory or optional. Courses that are mandatory will have a deadline shown.