GOVERNANCE FOR RESILIENCE
As the rollout of SM&CR (Senior Managers and Certification Regime) across all authorised firms is completed in 2021, we expect the PRA and FCA to turn their attention to how well firms are embedding and operating SM&CR in practice. The global pandemic also brings a new focus on operational resilience for 2021 and a need to reconsider modern slavery risk frameworks as living and working conditions have changed so much. In this context, sound corporate governance and risk management will be unusually important in the year ahead.
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This document provides a general summary and is for information/educational purposes only. It is not intended to be comprehensive, nor does it constitute legal advice. Specific legal advice should always be sought before taking or refraining from taking any action.