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

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By Jasper Cox
15 Aug 2019

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.

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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