FCA/PRA: Senior Managers & Certification Regime – policy statements
The regulators have published policy statements, which set out the first phase of reforms to the SM&CR, including with regard to: criminal record checks and disclosure; the 12-week rule; statements of responsibilities and management responsibilities maps; regulatory references and prescribed responsibilities. Some changes take effect on 24 April 2026 and others take effect on 10 July 2026. The regulators intend to consult on a second phase of proposals later in 2026.
For more information
- https://www.fca.org.uk/publications/policy-statements/ps26-6-senior-managers-certification-regime-review
- https://www.bankofengland.co.uk/prudential-regulation/publication/2026/april/review-of-the-smcr-phase-1-policy-statement
- https://www.fca.org.uk/news/press-releases/fca-pra-changes-streamline-senior-manager-accountability-boost-growth
Last updated · 23 Apr 2026
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