Executive Short Courses

Preparing for SMCR

Two business people talking at an event

Join a half day briefing for FCA authorised firms on implementing the SMCR.

The long awaited FCA Consultation Paper on the extension of SMCR to all firms has now been published. It sets out the ‘what’ and ‘why’ of the new regime with a further technical consultation on the ‘how’ due to be released this autumn. The key objectives of the regime, to enhance standards of conduct and levels of accountability, are firmly reinforced within the paper, however a significant aspect is the proposal to adopt a proportionate approach to implementation depending on the size and type of firm.

While the implementation date remains to be confirmed, the HM Treasury announcement that it will be introduced ‘from 2018’ still stands so the time available to adapt to the new rules is potentially very tight. Even on a proportionate basis the new rules are wide ranging and could have significant implications - particularly for individuals holding the new Senior Management Functions who will have greater responsibility and accountability than ever before.

This briefing event has been developed to assist firms in planning for SMCR implementation. It will draw on the experience and lessons learned by the banking sector, which has been through this process already, to provide practical insights on the issues you need to consider and what you can do now to prepare.


 

Learning outcomes

  • What does SMCR mean to me and my business?
  • What are the proposed SMCR firm types and how might the rules differ? 
  • What are the component parts of the new regime?
  • What impact will this have on those that currently hold “Controlled Functions”?
  • How does this change the responsibility and accountability of SIF holders?
  • What is the “Duty of Responsibility” and how does this affect individuals and how they fulfil their role responsibilities?
  • What does the new Certification Regime bring in terms of requirements and how will this impact my business and its processes?
  • What are the new Conduct Rules, who will they apply to and what changes are there in Regulatory Reporting requirement?

Who should attend? 

This briefing will be relevant to any FCA authorised firm needing to implement the SMCR by 2018, such as those offering regulated advice and wealth management services. It will be particularly useful for those likely to be classified as Senior Managers under the new regime and those with responsibility for its implementation including:   

  • Compliance
  • HR
  • Risk and Operational Teams
  • Business owners, Directors and Principals
  • Current controlled function holders

Course outline 

  • What is the background to the introduction of the new regime? 
  • Who will it affect?
  • What are the timelines? 

  • The component parts of SMCR
  • The affected communities and different firm types proposed - Limited, Core and Enhanced
  • What are the different requirements proposed for the three firm types 
  • The impact on organisations from a governance perspective

  • What will firms need to include in the new “Responsibilities Maps”?
  • What are Prescribed Responsibilities and to whom will they apply?
  • What is a Statement of Responsibility, who has to have one and how should they be structured?
  • The impact of these changes from an HR perspective
  • What is the new “Duty of Responsibility” and how does it affect individuals? 

  • What is it? 
  • Who does it effect? 
  • What should the component parts be? 
  • Who will be responsible within your business? 
  • What record keeping requirements are there?
  • Who owns the process? 
  • What happens if you can’t Certificate? 

  • What challenges did the banks have:
    • Regulatory
    • Legal
    • Employment law
    • Process management

  • What can I start doing now to prepare? 
  • Who do I need to brief? 
  • What support will my HR team need?
  • What additional resource should I consider?

Dates and location 

Date and time: 

Thursday 28 September 2017, 9.30am - 12.30pm

Location:

The London Institute of Banking & Finance
Peninsular House, 36 Monument Street
London, EC3R 8LJ

Course instructor 

Julie Pardy headshot

Julie Pardy

Julie has been operating in the Financial Services market place since 1988. Her first 20 years in the industry were spent in senior operational, compliance and L & D roles with a variety of financial institutions.

Her practical application, enthusiasm and detailed knowledge of both regulation and the financial services market place allows her to support businesses in meeting regulatory requirements. For the last 9 years Julie has provided regulatory and training support to businesses across the whole financial services spectrum. Specialising in FCA regulation with a focus on Conduct Risk, Training & Competence, Approved Persons Responsibilities, Behavioural Economics and Culture.

Julie has most recently been working very closely with the British Banking Association to help host a range of SMR related webinars and training events to help support firms in implementing the new Senior Managers Regime in Banking. Awarded the Thomson Reuters “Compliance Firm of the Year” award in 2014 and the DRF and DEMSA “Business Partnership of the Year” award in 2015, whilst at her previous consultancy, Julie is known for the quality and consistency of her client support. In the last 16 months since the inception of SMR, Julie has been working with firms not only to help them effectively embed SMR but also to help them implement system solutions to assist them in managing employee competence and wider regulatory responsibilities. 


Registration and fees 

Register online or contact our events team on +44 (0) 20 7337 6286 or events@libf.ac.uk

  • Members  £195
  • Non-Members  £245
Registration fee includes all learning materials and refreshments. 

Register online

Multiple bookings and in-house delivery

Discounts are available for group bookings . If you have five or more delegates who wish to attend this course, it may be more cost effective to run it in-house. To find out more about group discounts and in-house delivery, please contact the Events team at events@libf.ac.uk or on +44 (0) 20 7337 6286

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