The FCA and the PRA have published their Policy Statements, setting out final rules on the SMCR regimes for insurers and FCA solo-regulated firms.

Key Points:

..The FCA has announced that the extended SMCR will apply to FCA solo-regulated firms from 9 December 2019.

..The rules will apply largely as consulted on, but with some helpful changes.

..The FCA is also consulting on creating a new public register to ensure that information regarding Certified Staff is publicly available to firms and consumers.