Reply S.p.A. · MIL:REY
Reply — Avantage Briefing Note Senior Manager Certification Regime Overview for 2023
12 slides from Reply's investor presentation, 2023
Slide 1: Senior Managers & Certification Regime (SM&CR) Reform: Overview for 2023
SENIOR MANAGERS & CERTIFICATION REGIME (SM&CR) REFORM: Overview for 2023
Slide 2: Introduction to the Senior Managers & Certification Regime (SM&CR)
Introduction to the Senior Managers & Certification Regime (SM&CR) The SM&CR was introduced in response to failures in senior management conduct and accountability evidenced in the Global Financial Crisis of 2008. Its key objectives include: • Reduce Harm to Consumers • Improve Conduct at All Levels
Slide 3: Nature and Scope of SM&CR Responsibility
Nature and Scope of SM&CR Responsibility The diagram below captures the differences in the nature and scope of responsibilities that apply to each individual regime of the SM&CR. SENIOR MANAGERS REGIME ü Senior Managers ordinarily hold certain inherent responsibilities as a part of their SMF role. ü
Slide 4: Categories of SM&CR Firms
Categories of SM&CR Firms To account for the diversity of firms, the stringency of the SM&CR is proportionate to the size and complexity of the regulated firm. The diagram below captures the three categories of firms and the key differences in rules that apply to them. It is to be noted that the req
Slide 5: Comparison between UK and EU
Comparison between UK and EU PRA/FCA SM&CR ECB Guidelines vs Applicable to all UK-regulated FIs, including and not limited to banks, ECB guidelines focus on significant banks within the Eurozone that are building societies, credit unions and investment firms. Usually seen as Scope of Application dir
Slide 6: SM&CR Reform Agenda in 2023
SM&CR Reform Agenda in 2023 Pursuant to the Edinburgh Reforms, HM Treasury (HMT) in collaboration with the PRA/FCA has launched the first full review of the SM&CR through two key documents. 1 HMT: Call for Evidence (CfE) 2 PRA/FCA Discussion Paper (DP) 1/23 The HMT has launched a CfE to gain the ind
Slide 7: Appendix: List of Key SMF and Certification Regime Roles
Appendix: List of Key SMF and Certification Regime Roles
Slide 8: Key SMF Roles
Key SMF Roles This slide captures key SMF roles and their applicability across Core, Limited Scope and Enhanced Firms. The table below is not an exhaustive list of all SMF functions and is a list of the most prominent roles, particularly those relevant to systemically important institutions. Limited
Slide 9: List of Certification Regime Functions
List of Certification Regime Functions This slide lists all the Certification Regime Functions identified by the FCA and provides context on the risks the regulator intends to manage through the Regime. It is to be noted that the application and enforcement of the Certification Regime are tailored t
Slide 10: Contact Us
Contact Us REGISTERED
Slide 11: Contact Us
Contact Us Vishwas has international FS consulting and risk management Ritianne has more than fifteen years of experience in the financial experience across Europe, the US, the Middle East and SE Asia, services industry having worked with two significant ECB SSM banks leading a multitude of risk tra
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