Regulation  

Simplybiz launches senior manager support

Simplybiz launches senior manager support

The SimplyBiz Group has launched a Senior Managers and Certification Regime support programme amid concerns adviser are not allowing enough time to prepare for the implementation of the new rules later this year. 

Under the SMCR, to be rolled out across the wider financial services industry in December this year, anyone who holds a senior management function at an advice company will need to be approved by the FCA and every senior manager will need to fill out a statement of responsibilities explaining what they are responsible for.

SimplyBiz's support programme includes online competency training, "bespoke" compliance visits, half and full day face-to-face events, practical guides and a full suite of revised documentation. 

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There will also be a dedicated SMCR area of the SimplyBiz site. 

Gary Kershaw, compliance director of The SimplyBiz Group, said the compliance provider was concerned some companies may feel the SMCR was just a replacement for the Approved Persons Regime, and not give themselves enough time to prepare for the new rules

He said: "We believe that offering such a comprehensive range of support will help the firms who use our services properly prepare for December, and allow them to continue to focus their time where it will be most valued – with their clients." 

Mr Kershaw said the regime was "one of the biggest" regulatory changes facing advisers this year and SimplyBiz wanted to ensure those who use its services have everything they need to prepare for its arrival. 

He added: "Helping to ease the regulatory burden currently facing advisers is at the heart of everything we do at The SimplyBiz Group, and the breadth of our SMCR programme means that we will be able to help our members, no matter where they need support or how they would like it to be delivered."

rachel.addison@ft.com