A whitepaper which provides insights from Medius Consulting as we approach the first anniversary of the initial implementation of the Senior Managers Regime in the UK. It questions whether the full implications of the new regime have yet to be fully appreciated and addressed and is therefore relevant both to those firms and individuals already subject to the regime as well as those to whom it will apply in 2018.
In The Senior Managers Regime (‘SMR’) and Certification Regime came into force on 7 March 2016 for a small but significant number of regulated firms – notably banks, designated investment firms and building societies. This first wave is now referred to as Accountability 1 (‘A1’) and will be followed at some point in 2018 by all other regulated firms – Accountability 2 (‘A2’)
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