On 9 December 2022, the UK Chancellor of the Exchequer announced a package of reforms to the UK financial services sector, known as the “Edinburgh Reforms”. The aim of these reforms is to support the government’s ambitions for the UK to be the “world’s most innovative and competitive global financial centre.” There are a total of 30 reform proposals within the Edinburgh Reforms, a review of SM&CR being one of them. At present, little has been confirmed as to what the review of the SMCR will include. Although the Call for Evidence looks to seek views on the regime’s “effectiveness, scope and proportionality”, and to see how the regime could be reformed and improved.
During this next in our ongoing series of SM&CR briefing webinars, join regulatory specialist, Sarah Thwaites, and Worksmart’s Director of Regulation, Julie Pardy, for the latest updates, industry views and analysis on the short, medium and long terms impacts of the Edinburgh Reviews as seen through an SM&CR lens… What are the key takeaways and latest guidance on topics like proportionality, the impact of Consumer Duty, the FCA’s guidance on non-financial misconduct and their ever-tightening rules on Appointed Representatives.
Make sure to secure your place early and register to be involved