Mark Turner Writes about SM&CR for Compliance Monitor

Mark Turner, Managing Director in Duff & Phelps’ Compliance and Regulatory Consulting practice, wrote an article for Compliance Monitor discussing the upcoming Senior Managers and Certification Regime (SM&CR) which goes live on December 9, 2020. Aiming to improve culture across the financial services industry and strengthen individual accountability, SM&CR is widely considered as the biggest change in the regulation of individuals in recent history.

An extract of the article is below:

“A decade on from the financial crisis, the anger lingers. We have come some way since the banker bashing and angry headlines attacking ‘Looters in suits’ (to give just one of many colourful examples), [1] but resentment remains. A poll last month found bankers among the least trusted professions in the United Kingdom, considered trustworthy by just 13 per cent of the public. [2] Only politicians, advertising executives – and pollsters – scored worse. At least part of the problem is that those responsible for the wreckage were never seen to be held accountable. Banking chiefs (in)famously walked away ‘scot free’, [3] as the papers put it – past bonuses pocketed and pensions in place. Moreover, new regulations seemed to do little to change culture and curb excesses – judging by the LIBOR-rigging and other scandals that followed….”

Read the full article here.

2019-11-25T05:00:00.0000000 0001-01-01T00:00:00.0000000 /about-us/news/mark-turner-smcr-compliance-monitor /-/media/assets/images/news/featured-images/2019/smcr-compliance.jpg news {DA6CC51B-740E-439A-B283-2BBFB5326BAA} {DE05ECA4-1852-4BEF-A4E1-491CB497F9CB} {4FD55120-2DD8-4DB5-8DAA-3D9212C2436D} {4678CD32-7147-4D6F-82E3-175B49DB1C03} {95D7F66C-11BB-4E7D-B07C-48874A321F98}

Related Services

By Jurisdiction

Regionally targeted assistance for asset managers in compliance program development, implementation and maintenance

By Jurisdiction

UK Regulation

Comprehensive compliance and regulatory support for FCA authorized firms.

UK Regulation