IRLA MEMBERS BREAKFAST BRIEFING - NEW: Senior Managers & Certification Regime (SM&CR)

Friday, 7 September 2018 8:30 AM - 10:15 AM GST

8/14 Coopers Row, London, EC3N 2BQ, United Kingdom

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2. Review and Proceed

Friday, 7 September 2018 8:30 AM - 10:15 AM GST

The City Grange Hotel, 8/14 Coopers Row, , London, EC3N 2BQ, United Kingdom.


The existing Senior Insurance Managers Regime (“SIMR”) is being usurped by the Senior Managers & Certification Regime (“SM&CR”) effective 10 December 2018. There are expectations that a lot of groundwork will need to be done ahead of the implementation later this year, such as mapping between the existing functions and the new functions, and ensuring all responsibilities are allocated. Companies will also need to produce statement of responsibility documents and management responsibility maps which will need to be submitted to the FCA as part of the conversion to the new regime: policies and procedures will need to be updated, and possibly also employment contracts.

In particular this briefing will provide:

• clarity of what is the main difference and why

• an explanation as to who is best to be certified

• determination of what qualifications they require

Insurance & Reinsurance Legacy Association Limited

AMS (Outsourcing) Services Limited

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