Streamlining Senior Manager Accountability: The FCA’s SM&CR Reforms

On 22 April 2026, the Financial Conduct Authority (FCA) published its policy statement PS26/6, confirming a package of reforms to the Senior Managers and Certification Regime (SM&CR). These changes form part of a broader, multi-phase effort by the FCA, Prudential Regulation Authority (PRA) and HM Treasury to reduce unnecessary regulatory burden while preserving the core principles of individual accountability that underpin the UK’s financial services framework. This article summarises the key... By: Katten Muchin Rosenman LLP