Since its inception in 2016, the Senior Managers and Certification Regime (SMCR) has served as a cornerstone of the UK’s financial services regulatory landscape, designed to enhance individual accountability and raise...more
The Senior Managers & Certification Regime ("SM&CR") has been a cornerstone of the UK’s individual accountability regulatory framework for banks, insurers and other regulated firms since its introduction in the wake of the...more
On 15 July 2025, HM Treasury, the Financial Conduct Authority (FCA), and the Prudential Regulation Authority (PRA) published consultation papers proposing possibly significant reforms to the Senior Managers and Certification...more
Ahead of the commencement of the UK Carbon Border Adjustment Mechanism (CBAM), key building blocks for its regulatory framework are moving into place. Following consultations in 2023 and 2024, draft legislation and a policy...more
In a previous alert, we identified that the definition of a collective investment scheme (CIS) could capture on-chain staking, and that the UK government, acting through the HM Treasury (HMT), was looking to clarify the...more
The FCA, PRA, and Bank of England have published their finalised critical third party (CTP) rules (and accompanying guidance) in PS24/16 Operational resilience: Critical third parties to the UK financial sector....more