The FCA’s Senior Managers & Certification Regime (SM&CR) comes into force on Monday (9 December) for solo-regulated firms.

Here, Linda Gibson, head of regulatory change and compliance risk at BNY Mellon’s Pershing provides a last-minute checklist to get wealth managers over the line.

Statements of responsibilities should be a reality check

Under the new regulation, all senior managers must have statements of responsibility (SoRs) setting out their role and responsibilities.

“The FCA have been clear that they want SoRs ...