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
Regulatory News - Financial Services & Regulation
See all Regulatory News - Financial Services & RegulationFCA: GC26/7: Decentralised Finance
FCA has published a guidance consultation paper on decentralised finance (DeFi) to help firms understand how existing operational resilience and financial crime requirements may apply when they provide financial services using DeFi. The draft non-Handbook guidance is set out in Annex 1. Responses are required by 18 November 2026. FCA intends to publish final guidance in January 2027.
FCA: CP26/36: Cryptoasset perimeter guidance
FCA has published a consultation paper CP26/36 on changes to its Perimeter Guidance manual (PERG) to reflect the amendments to the cryptoasset regime introduced by the Financial Services and Markets Act 2000 (Cryptoassets) (Miscellaneous Amendments) Regulations 2026. The changes explain FCA’s view of how the amendments in the legislation apply, and how the new exclusions interact with the regulated cryptoasset activities. The amended draft Handbook text is set out in Appendix 1. Responses are required by 18 November 2026. FCA intends to publish final guidance in spring 2027.
HMT: UK-Singapore Financial Markets Dialogue – joint statement
HMT has published a note of the UK-Singapore Financial Markets Dialogue which took place on 20 October 2026. Topics include: digital finance and innovation; capital markets, and sustainable finance.
FCA: Further information for firms on the Motor Finance Compensation Scheme
FCA has revised this document aimed at firms, and based on queries received by the regulator. It includes a note which sets out specific additions made to the report.
FCA: Speech by Jessica Rusu: Building the future of finance in the age of AI
Text of Jessica Rusu’s speech of 19 October 2026 follows in which she discusses the publication of the good and poor practice review, highlighting the areas of consumer centricity; accountability and governance, and operational resilience.
For more information