UK regulators extend timelines and reduce scope under SM&CR reforms
Firms must update certification and reporting processes
Change
UK regulators extended timelines and reduced certification scope under reforms to the Senior Managers and Certification Regime.
Why it matters
The changes reduce compliance burden while maintaining accountability, requiring firms to adjust reporting and certification workflows.
Implications
- — Compliance burden reduced — processes simplified
- — Firms must update workflows — regulatory changes apply
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