Mon, Jan 28, 2019

Mark Turner Featured in FT Adviser: Time Running Out to Meet New FCA Requirement

Mark Turner, Managing Director in the Compliance and Regulatory Consulting practice at Duff & Phelps, was featured in FT Adviser discussing how financial services firms need to start preparing for the implementation of the Financial Conduct Authority’s (FCA) Senior Managers and Certification Regime (SM&CR) which will be effective across the industry from December 2019.

Mark believes the greatest administrative burden will be placed on those largest firms with a large population. "It is fair to say because this regime is a bit later than originally expected, all but the very largest firms haven't really kicked off their SM&CR preparation plans in earnest yet, but the biggest firms are doing that now….We are at the point now where people are starting to think what this regime might mean to them, start thinking about broadly how can we approach this and how are we going to distribute accountabilities between us…Those conversations are starting to happen now but I think its fair to say none of the firms in this industry group have got all the answers at this point." 

Read the full article here.