SM&CR - staff departures and the Directory

Since the extension of the senior managers and certification regime (SM&CR) to FCA solo regulated firms on 9 December 2019, some individuals no longer require FCA approval. Their status shows as 'regulatory approval no longer required' on the financial services register.

This means that if an individual who now has this status leaves your firm, you no longer need to inform the FCA of their departure.

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