From 9 December 2019 the Senior Managers and Certification Regime (SM&CR) became enforceable for all Financial Conduct Authority (FCA) solo-regulated consumer credit firms, replacing the Approved Persons Regime.
The BVRLA has produced a SM&CR factsheet to help leasing broker members. The factsheet has been updated to include the Policy Statement released by the FCA at the end of October. This confirms that the deadline dates for December 2020 have been extended until March 2021 due to Covid-19 and talks about the new Conduct Rule breach reporting process.
