BSB responds to FCA Consultation: Individual Accountability: Extending the Senior Managers & Certification Regime to all FCA firms

The Banking Standards Board welcomes the opportunity to respond to the FCA’s consultation on extending the Senior Managers and Certification Regime and Conduct Rules to all FSMA authorised firms and the PRA’s consultation on extending the SMCR to insurers. In this response, we describe our experience of working with BSB member firms to help the banking sector implement the Certification Regime in a way that raises standards of behaviour and competence in banking. We also provide some insights into the implementation of the Certification Regime that we have gained from working with member firms in the BSB’s Certification Regime Working Group.

Read our response to the consultation (pdf 74KB)