Investors, broker-dealers unprepared for new governance rules, survey finds

Not even one in 50 firms are prepared for the date later this year when the UK’s Senior Managers and Certification Regime (SM&CR) will apply to them, according to ACA Compliance Group. This means they have not yet faced up to rules reshaping hiring and governance practices.

  • By Jasper Cox
  • 15 Aug 2019

Less than 2% of firms responding to an ACA survey said they had done sufficient preparation for the SM&CR. And only 2% of employees were sufficiently aware of the new rules and their implications across their firm.

On December 9, the SM&CR will apply to all firms solely ...

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Rank Lead Manager Amount $m No of issues Share %
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1 JPMorgan 301,362.40 1365 8.53%
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4 Barclays 216,691.99 880 6.14%
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1 BNP Paribas 33,643.72 149 7.28%
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5 SG Corporate & Investment Banking 22,643.54 106 4.90%

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1 JPMorgan 9,438.24 58 10.23%
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4 Citi 6,445.29 48 6.98%
5 Credit Suisse 5,197.34 30 5.63%