The Senior Managers & Certification Regime (SM&CR) will apply to your business from the 9th December 2019. However, there are two forms (form K and form O) which firms may need to submit by the 24th November.
- Form K– If you need to apply for a Senior Manager to be Approved before SMCR implementation on the 9th December, then you have to complete and submit form K to the FCA by the 24th November.
- Form O– If you need to change your FCA classification from a Limited or Core firm to an Enhanced firm then you need to submit form O to the FCA by the 24th November.
Please note that failure to meet the requirements by the relevant dates if this applies to you may mean you are in breach of your threshold requirements and the FCA may take action accordingly.
Please note: If you are a member of our compliance services, you won’t need to do anything as this has been evaluated in our impact assessment of your firm.
