Summary of the FCA Policy Statement 16/22

FCA PS16-22The long awaited Policy Statement on Regulatory Referencing (PS16/22) was issued by the FCA on 28th September. This Policy Statement is a must read for everyone involved in the recruitment of staff, and particularly for those involved with Approved Persons roles and/or Senior Managers and Certificated Persons under the new SMCR or SIMR. Those of you working in the 52,000 firms still yet to transition to  the SMCR, but will be in 2018, should also be taking note of this Policy Statement and starting to make the necessary internal changes to your procedures now.

We understand that finding the time in your busy schedule can be difficult to read and digest the Policy statements and Guidance notes from the regulator. So to help our clients FSTP have produced a summary of the changes to save you having to speed reading the PS.

FSTP Summary of FCA PS16/22


How can we help you further?

If you are a dual regulated firm and need help to put your Certification Regime in place, (the deadline is the 7th March 2017) FSTP can provide a T&C Audit of your arrangements and help you adapt these to ensure CR readiness.

If you are affected by SMCR in 2018, your project should now be under way and needs to incorporate the necessary changes to your Regulatory Referencing, T&C Scheme as well as your Governance arrangements and mapping.

Please contact us on to discuss any requirements you may have and to find out how either of the services above could benefit your firm.

Finally FSTP run a number of open courses that are regularly updated and incorporate this topic and other feedback from the FCA on the SMCR progress thus far. Follow the links below to find out more about the courses.

Managing T&C in the Changing Regulated Environment
Increasing Responsibilities for HR in Financial Services
How to be a Compliant Supervisor


Other posts you may be interested in