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Home » Glossary Terms » Senior Managers & Certification Regime (SMCR)

Senior Managers & Certification Regime (SMCR)

“The SMCR is the approach taken in the UK to encourage good conduct and individual accountability in the financial services industry. It aims to:

  • encourage a culture of staff at all levels taking personal responsibility for their actions
  • make sure firms and staff clearly understand and can demonstrate where responsibility lies

According to the FCA, “the aim of the SMCR is to reduce harm to consumers and strengthen market integrity by creating a system that enables firms and regulators to hold individuals to account”.”

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