The SMCR ' Is It Fit For Purpose?

• Law Firm: Katten Muchin Rosenman LLP
• Subject Matter: Finance and Banking, Financial Services
• Author: Christopher Hitchins, Neil Robson and Brigitte Weaver
• Published date: 21 February 2023

The article looks at the UK government's proposed reforms to the senior managers and certification regime (SMCR), in light of the impact of Brexit still being felt around the UK and the recent eye-watering turnover in the Cabinet resulting in uncertainty, frustration and trepidation in the financial markets. The article analyzes the changes as part of the proposed 'Edinburgh reforms,' which the Treasury has suggested to streamline financial services regulation in the UK and to promote investment and growth. A thorough...