Commenting on the release of the FCA’s consultation on the extension of the Senior Managers and Certification Regime to all FSMA authorised firms, Alex Fraser, Chief Executive at the London Institute of Banking & Finance, said:
“We welcome the additional clarity provided by this consultation. We believe that the acknowledgement of the need for flexibility and the fact that organisations across the industry will be impacted differently by the regime is an essential consideration. Following the initial consultation period and as the scheme is rolled out, we hope to see this consideration for firms’ differing needs at the forefront of the implementation process. Ultimately, this scheme should set consistent and realistic standards across the sector, as well as ensuring the best outcomes for customers. The London Institute of Banking & Finance looks forward to working with our members and others across the industry to provide support as the changes are implemented.”
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