Individual Accountability – Extending the Senior Managers and Certification Regime to all FCA Firms

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My reaction to the ‘Accountability 2’ Consultation Paper (CP17/25) is one of initial relief that it has finally been published and some subsequent frustration that it still leaves some significant gaps. I have not, as yet, looked closely at the Insurance paper (CP17/26) or the details relevant to EEA and non-EEA firms. Undoubtedly there is more that is deserving of comment which will be highlighted in following articles. I have had a brief look at…

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About Author

Carl Redfern is the Compliance Director and co-founder of Redland Business Solutions, the market leader in specialist GRC Solutions for the Financial Services industry, for the past 15 years I have spent my time: • Working with Industry Forums, Professional Bodies and Regulators to help to assess the impact and define the requirements of developing regulation. • Designing solutions to support key strategic functions within Compliance, T&C, Conduct Risk, Governance and Operations. • Helping businesses to develop the business case for people, culture and conduct initiatives. Most recently, I have been extensively involved in the development of the SM&CR regimes, working with industry bodies, both regulators and many firms, assessing the implications of the rules and designing specialist solutions to enable efficient and effective implementation. Redland have been voted the Best Solutions Provider – Senior Managers Regime with our specially designed technology solution, Insight SMR, to help firms comply with SM&CR and holistically integrate Certification with wider Culture and Conduct programmes.

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