FCA SMCR
The regime consists of three parts:
The SMCR aims to reduce harm to consumers and strengthen market integrity by creating a system that enables firms and regulators to hold people to account. As part of this, the SMCR aims to:
The review represents a shift from monitoring AI to assessing long-term impact on markets and consumers.
Carmen Cracknell, Thomas Hyrkiel3 min read
Regulatory topics that will have a significant impact on institutions operating in the UK financial services sector this year.
There is more to agreeing to disagree than you may have thought.
The proposals address well-documented concerns about opacity, reliability, and independence in the ESG ratings market.
Laura Houët | CMS, Ben Maconick | CMS, Oliver Williams | CMS7 min read
The FCA, Treasury, and PRA are tabling proposed changes to the SMCR, alongside raising standards around non-financial misconduct.
Tom de Ville | Ocorian, Eddy Burchett | Ocorian3 min read
The FCA plans to extend the High-Level Standards in the FCA Handbook to cryptoasset firms in line with FSMA-authorized entities.
Sam Robinson | CMS, Justin Kwik | CMS5 min read
Under the proposals, all firms wishing to carry out regulated cryptoasset activities will be required to obtain FCA authorization.
Jamie Jefferson Ng | Ashurst5 min read
The FCA says AI is helping them become a "smarter regulator."
Jean Hurley1 min read
Further Reading