Senior Managers Can Now Get Up To Speed with SMCR Through e-Learning Courses
Senior managers who are working in the UK’s regulated finance industry can now get access to everything they need to be SMCR compliant through new e-learning courses.
Available from SMCRCompliance.com, the firm has devised a number of key training courses which can be completed remotely online and provide CPD-certification upon completion, starting from just £30.00 per course.
The training courses will be a revelation to those regulated firms whose employees are continuing to work remotely during covid-19, but need to be up-to-date with the latest SMCR practices, something that they need completed in order to operate within a regulated environment.
What is SMCR and Why is it Important?
The SMCR regime was introduced in 2016 as way to make senior managers responsible for any large investments, transactions or financial decisions – and claim responsibility for any losses to their clients.
This follows the credit crisis where it was hard to hold certain individual accountable for the huge losses that were incurred – and many were able to escape any form of prosecution or liability.
The SMCR regime covers around 60,000 regulated entities and requires all firms to complete a certification and be up to speed with SMCR practices.
The SMCR regime applies at all levels within a financial institution, or an entity providing financial services. The Senior Managers Regime is designed to improve accountability at the top level.
The Certification Regime requires certain key employees to be vetted at least annually to ensure they are fit and proper and stay on the right side of regulation. The Conduct Rules is a newly introduced code of conduct for the financial services industry that applies to employees across the board.
Whilst the initial deadline for firms was 19th December 2020, this has since been extended to 21st March 2021 due to any delays caused by covid-19.
What is Offered by SMCR Training Courses?
In the SMCR training courses offered by SMCRCompliance.com, compliance and senior managers of certain FCA-regulated organisations can watch and learn through training courses which cover:
- SMCR Overview
- SMC Senior Manager’s Regime
- SMCR Certification Regime
- SMCR Conduct Rules
All courses are streamed online and can be watched, paused and picked up at the user’s convenience, followed by questions to assess their understanding and knowledge of the course’s content. Participants are issued with a downloadable CPD-accredited course certificate upon completion.
Users can also access a free demo course that can be completed in 15 minutes to be complete – to give them a feel of the content and user-experience of the courses.