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Overview of SM&CR for FCA Solo Firms

Our SMCR Overview training course will help your employees understand the key steps needed to comply with the regime. That includes:

  • Preparing a Statement of Responsibilities
  • Pre-approval of Senior Managers by the regulators
  • Reasonable steps needed to stop regulatory breaches
  • Identification of all Certified Persons
  • Fit and proper assessment of all Certified Persons
  • Ensuring Senior Managers understand the duty of responsibility
Start your trial Course details
  • 30 Minutes
  • All staff
  • Based on UK legislation, but suitable for global audiences upon the removal of UK-specific references and translation as necessary.

Learning objectives

  • Understand the key elements of the SM&CR and how they apply to you
  • Be aware of the Senior Management Functions and the allocation of responsibilities in our Firm
  • Understand how fitness and propriety are assessed, and comply with the requirements
  • Understand and comply with the Conduct Rules
  • Understand and comply with the Certification Regime

    What can you expect your employees to learn?

Introduction

What is SMCR?

  • The 3 key elements

  • Who does the Senior Managers Regime apply to?

  • SMFs for insurers

  • SMFs for banks

  • Independence requirements & banned combinations of SMFs

What are Prescribed Responsibilities?

  • Allocating responsibilities - process flow

Hand-offs

Allocation of Responsibilities

NEDs & the Chairman

  • You make the call: Is the Chair or the Senior Manager responsible?

What can Senior Managers delegate?

Duty of Responsibility

  • Reasonable steps
  • What can  Senior Managers do to protect themselves?
  • Preventive measures

Assessing Fitness & Propriety

  • Honesty, integrity & reputation
  • Competence & capability
  • Financial soundness

The Certification Regime

Conduct Rules

  • Individual Conduct Rules
  • Senior Manager Conduct Rules
  • Compliance with Conduct Rules
  • Senior Manager compliance

Summary

Affirmation

Start your compliance e-learning journey with a free trial

Our no-obligation free trial gives you access to our libraries and compliance platform. 

Ready to start your free trial? Complete the form, and a member of the Skillcast team will be in touch with further details.

Your questions, answered

Common FAQs

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.

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