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Conduct Rules for Senior Managers at Dual Regulated Firms

Under the Senior Managers Regime, all senior managers must comply with the FCA's six Individual Conduct Rules (ICRs) and four Senior Managers Rules (SMRs).

Senior Managers are expected to comply with all 10 Conduct Rules and take 'reasonable steps' to prevent breaches.

Our SMCR Conduct Rules Course helps your Senior Managers to learn about the rules, their contraventions and their application in practical situations.
Start your trial Course details
  • 60 Minutes
  • Managers
  • Based on UK legislation, but suitable for global audiences upon the removal of UK-specific references and translation as necessary.

Learning objectives

  • Recall the Financial Conduct Authority (FCA) Conduct Rules that apply to you as a Senior Manager
  • State to whom the FCA Conduct Rules apply
  • Explain how the FCA Conduct Rules apply in practice
  • Describe how you will comply with the Conduct Rules in your role
  • Describe when the FCA might take action for non-compliance with the Conduct Rules

    What can you expect your employees to learn?

Introduction

What are the Conduct Rules for Senior Managers?

  • What are the Conduct Rules?

Individual Conduct Rule 1: Integrity

  • Examples of breaches
  • You decide: Is it a breach?
  • Individual Conduct Rule 1: Key takeaways

Individual Conduct Rule 2: Due skill, care & diligence

  • Examples of breaches
  • You decide: Is it a breach?
  • Individual Conduct Rule 2: Key takeaways
 

Individual Conduct Rule 3: Cooperation with regulators

  • Examples of breaches
  • You decide: Is it a breach?
  • Individual Conduct Rule 3: Key takeaways
 

Individual Conduct Rule 4: Customers' interests

  • Examples of breaches
  • You decide: Is it a breach?
  • Individual Conduct Rule 4: Key takeaways
 

Individual Conduct Rule 5: Market conduct

  • Examples of breaches
  • You decide: Is it a breach?
  • Individual Conduct Rule 5: Key takeaways
 

Individual Conduct Rule 6: Consumer Duty

  • Examples of breaches
  • You decide: Is it a breach?
  • Individual Conduct Rule 6: Key takeaways
 

Additional rules for Senior Managers

Senior Manager Conduct Rule 1: Effective control

  • Examples of breaches
  • You decide: Is it a breach?
  • Senior Manager Conduct Rule 1: Key takeaways
 

Senior Manager Conduct Rule 2: Compliance with regulatory requirements

  • Examples of breaches
  • You decide: Is it a breach?
  • Senior Manager Conduct Rule 2: Key takeaways

Senior Manager Conduct Rule 3: Effective delegation

  • Examples of breaches
  • You decide: Is it a breach?
  • Senior Manager Conduct Rule 3: Key takeaways
 

Senior Manager Conduct Rule 4: Disclosures to regulators

  • Examples of breaches
  • You decide: Is it a breach?
    Senior Manager Conduct Rule 1: Key takeaways
 

Breach notification

Serious consequences

  • In the news: Regulatory repercussions

Summary

Assessment

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Your questions, answered

Financial Crime

Common FAQs

How can I log and track incidents of financial crime in my organisation?

Our Compliance Breach Register allows you to securely log and monitor incidents of financial crime, such as bribery or money laundering. The tool enables you to track resolution progress and maintain a clear audit trail, ensuring accountability and compliance with regulatory requirements.

How can I ensure my employees understand and comply with our internal policies in relation to financial crime?

Our Policy Hub enables you to distribute policies such as your Anti-Money Laundering (AML) policy to employees, track acknowledgements, and send automated reminders. This ensures everyone understands their obligations and helps you maintain compliance with financial crime regulations.
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Are Skillcast courses SCORM-compliant?

Yes. This means they can be delivered via the Skillcast Portal or any other SCORM-compliant Learning Management System.

What other tools are needed beyond training?

A comprehensive compliance solution often needs more than just training. Alongside e-learning, tools like declarations, surveys, and registers that track compliance tasks are usually essential. Skillcast provides full support to help you set up these additional tools.

Is our training content still compliant with the latest legislation?

  • You can check the latest course content updates in our library updates page: https://www.skillcast.com/compliance-course-library-updates
  • For major legislative changes, we:
    • Will send you email alerts to ensure you are notified
    • Offer you a free trial of newly created or updated content
    • Host webinars with compliance experts to explain the changes and how our training supports your ongoing compliance

Can you translate our content into other languages?

Yes, we offer translations in a wide range of languages. Let us know your needs, and we’ll confirm availability or work with you to plan translations for your selected modules.

How can I give employees a secure way to record suspicious activity so we can act quickly?

Our Suspicious Activity Register allows staff to log concerns or irregularities they observe, helping you detect potential issues early. The secure register can be reviewed by compliance teams, enabling prompt investigation and action.

What file types are supported by the Skillcast system?

Features

Supported file types and details

File Exchange

File types: PDF, Excel spreadsheets, Word documents, SCORM and xAPI files, and compressed zip files. Max file size: Default is 1GB, can be increased to a max of 2GB

SCORM files

Versions: SCORM 1.2, SCORM 1.2 for Moodle, SCORM 2004 2nd, 3rd and 4th Edition. Max file size: 1024MB

xAPI file

Max file size: 2GB

Videos

File types: MP4 or MOV. Videos must be optimised, with a max file size of 100MB. If the file is bigger, our Design Team can help

Images

File types: jpg, png and gif. The file size should ideally be 100KB, but it can be up to 250KB

CPD evidence

File types: Word, PDF, Excel and CSV. File size: the limit should be whatever the portal config option is set to. Servers are set to max 2GB

Policy documents

PDF or Word File size: the limit should be whatever the portal config option is set to. Servers are set to max 2GB

Offline activities evidence

File types: PDF, DOC, DOCX, XLS, XLSX, CSV, PNG, GIF, JPEG, JPG, PPTX and MSG. File size: the limit should be whatever the portal config option is set to. Servers are set to max 2GB

Client logo files

File types provided by client: EPS, PDF, AI and SVG

Registers

PDF, DOC, DOCX, XLS, XLSX, CSV, PPT, PPTX, POT, PPA, PPS, JPG, JPEG, PJEPG, PNG, BMP, GIF, MP4, MOV, WMV, CPTX, CP, TXT, ZIP and MSG files

Declarations

JPG, JPEG, PNG, GIF, XLS and XLSX files

 

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