A turbulent year on from the extension of the Senior Managers & Certification Regime (SM&CR) and with the next deadline fast approaching on 31 March 2021, Sean Lam, chief executive at Walker Crips Group, reflects on the outlook for the regulation and the challenges that lie ahead.

This week marks one year since the implementation of SM&CR for FCA solo-regulated firms, and the first question for companies is: ‘Have we kept our Statement of Responsibilities up to date?’

While the hive of activity by solo-regulated firms to ensure they were all SM&CR compliant by 9 December las...