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Extension to condensed SMCR with transitioning arrangements for Insurers.

Along with other important consultation documents on these new significant regulatory requirements we have once again looked to summarise content for easier comprehension and thus giving you a beneficial insight into the regulators proposals for lengthening the SMCR regime.

Currently Insurance firms apply a revised version of the FCA’s Approved Persons Regime and the PRA’s Senior Insurance Managers Regime (SIMR). The chapters featured within this document look to incorporate all aspects of the Senior Managers and Certification Regime. We have extracted the information into an ordered format, with the four key topics including:

  • The Senior Managers Regime
  • The Certification Regime
  • The Conduct Rules
  • Fitness and Propriety Requirements

Within those four areas we have further categorized the information into:

  • Firms affected – Solvency II firms and Large NDF’s, Small NDF’s and small run-off firms, ISPV’s and Incoming Branches.
  • Individuals affected.
  • Key implications.

In order to access your copy of the document please provide your details below:

If you have any questions regarding your SMCR requirements please do not hesitate to get in touch. We would be more than happy to have a conversation and provide any support required.

Philippa Grocott

Business Development Partner