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Senior Managers and Certification Regime (SMCR)

BVCA e-Learning
The Senior Managers and Certification Regime (SMCR) replaced the Approved Persons Regime. This changed how people working in financial services are regulated.

This programme is designed to give those who are accountable and responsible for complying with the SMCR an overview of the SMCR requirements, reinforce key principles, and ensure employees have a clear understanding of their responsibilities.

Programme and key features

Programme content

  • Reinforce key principles of SMC
  • Which SMCR processes the firm will be implementing e.g. annual certification
  • The changes SMCR brings and FCA expectations
  • Reminder of the conduct rules
  • The different requirements of each three categories: SMs, certified staff, conduct rules
  • Required responsibilities, duties and actions (e.g. fit and proper questionnaires; checks to be carried out; review statement of responsibility; reporting to the FCA)
  • PE/VC specific scenarios: ‘X did this, what should X do now?’ ‘What to do in respect of fund valuations when you think the assumptions are unsupportable.’, ‘submitting expenses you know might be difficult to justify’
  • Breaching implications
  • Good and bad practices/behaviours (PE/VC specific)
  • Annual updates
  • Heavier information for SMs – clarifying their obligations
  • Training should prepare people to expect additional questions during checks and encourage them to be honest about what is going on/ask questions

BVCA e-Learning guidance

Please ensure to press the “finish” button at the end of the courses to gain your score and certificate.

We recommend that you complete the courses on a PC/Laptop for optimal use.

We recommend that you complete the course on the latest version of Google Chrome, Firefox and Safari web browsers.


Purchase course

  • BVCA members: £110.00 Contact training@bvca.co.uk to purchase and for group discount prices
  • Non-members: £220.00 Contact training@bvca.co.uk to purchase and for group discount prices
  • Above costs are per license lasting 12 months and excludes VAT
Further information

FOR FURTHER INFORMATION PLEASE CONTACT BVCA TRAINING

 +44 (0)20 7492 0400

 training@bvca.co.uk