Understanding SMCR for FCA Regulated Insurance Firms - A Live Guide

Introduction

The Senior Management & Certification Regime remains one of the major components of regulation by the Financial Conduct Authority (‘FCA’).

The regime is designed to improve professional standards and accountability throughout the industry.

Clear individual accountability should focus minds, drive up standards, and make firms easier to run and to supervise.

Sanctions can be serious. It’s therefore imperative that senior managers and certification regime staff understand what is required of them.

Despite this, there are still areas of ambiguity that this new virtual classroom seminar aims to resolve.

The session is ideal for senior managers and certification staff working in an FCA regulated insurance firm, with operation in the UK.

What You Will Learn

This live and interactive course will cover the following:

• Overview of SMCR
• Senior manager functions for insurance
• Statements of responsibilities and prescribed responsibilities
• Certification functions
• Evidencing ‘reasonable steps’ in line with the duty of responsibility
• Conducting fit and proper assessments
• How to handle non-financial misconduct
• Practicalities of certificating your staff
• Conduct rules - dealing with breaches
• Extra requirements for Solvency II and large NDF firms

Recording of live sessions: Soon after the Learn Live session has taken place you will be able to go back and access the recording - should you wish to revisit the material discussed.