FCA Proposes Reforming SM&CR and Eliminating Employee Certification
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AI-assisted source synthesis · not an independent investigation.
On October 23, 2026, Finance Magnates reported that the UK Financial Conduct Authority (FCA) plans to significantly reform the Senior Managers and Certification Regime (SM&CR) and intends to eliminate certification requirements for 139,000 employees. The report presented this plan as the latest disclosure regarding adjustments to the FCA’s regulatory framework, but provided no further details on the specific reform proposals, implementation timeline, or subsequent procedures. Based on the reporting currently available, the development remains at the stage of proposed reforms and the elimination of certification requirements, with no other implementation information disclosed.
AI-written from reports · updated 6 hours ago
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- Finance MagnatesFCA proposes sweeping SM&CR reforms, removing certification requirements for 139,000 employees
FCA proposes sweeping reforms to SM&CR, removing certification requirements for 139,000 employees. The Finance Magnates financial news review also covers IG's plans to enter prediction markets, OANDA Japan suspending withdrawals after a server attack, and NAGA's declining earnings amid rising marketing costs. FMIQ is now available on the FM Intelligence Portal, enabling users to query seven types of datasets in natural language and receive sourced answers through independent quality checks.
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