Senior Managers and Certification Regime
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Senior Managers and Certification Regime

Regulators are increasingly focused on the responsibilities of boards and individual executives for the safe running of their companies.


In the U.K., the Parliamentary Commission on Banking Standards called for the replacement of the existing regulatory regime, which it considered ineffective at holding senior managers to account for failings at their firms. The Prudential Regulation Authority and Financial Conduct Authority have introduced the SMCR for banks and certain large investment firms, with aspects of this regime extended to insurance groups under the senior insurance managers regime.

Promontory has extensive experience in supporting firms and individuals — not only with the current approved-persons regime, where we are market leaders in preparing and training senior management candidates for regulatory approval, but also the new regime.

Our professional team is a mix of former senior regulators with many years of collective regulatory experience and industry leaders with wide-ranging financial services expertise. Promontory’s comprehensive service offerings help companies ensure compliance with and understanding of the new regulatory landscape and the heightened regulatory requirements.

We have worked successfully with institutions facing these regulatory challenges, offering a full suite of support to our clients, which cover a wide range of banks, and insurance companies.

Assistance includes:

  • Mapping senior staff across to their corresponding senior manager functions under the new regime
  • Reviewing current role profiles to adapt to regulatory statements of responsibilities
  • Providing face-to-face training to senior managers
  • Delivering widely disseminated e-learning programs on the new conduct rules
  • Managing the transition to the new regimes


3/23/15 - Senior Managers and Certification Update
Promontory Insights 

11/18/14 - The New Senior Managers and Certification Regime
Sightlines InFocus by Stuart King and Sam Tymms

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