Regulators unveil plans to simplify Senior Manager and Certification Regime

For compliance teams, the direction of travel is positive: a narrower population of senior and certified staff should reduce mapping, fitness-and-propriety, regulatory reference and ongoing attestation burdens. However, firms should not treat the announcement as immediate relief. The proposals will require careful gap analysis against current role inventories, statements of responsibilities and certification records.

Compliance leaders should identify which roles could move out of enhanced scope, assess conduct-risk implications, and prepare revised governance documentation for board approval. HR and legal teams should also review contracts, training and reference processes. While the measures are growth-oriented, firms must retain robust accountability arrangements and ensure any reduction in checks does not weaken individual accountability or supervisory expectations.

RegCanary recommends monitoring the consultation and final rules, maintaining a change log, and planning a phased implementation once timelines are confirmed.