Evaluating the outcomes of SMCR
A recent PRA report on SMCR provides feedback on the regime so far, but is its optimism premature?
by Lindsay Reid
In December 2020, the PRA released its Evaluation of the Senior Managers and Certification Regime
(SMCR) report. Its findings broadly indicate that the regime – see boxout for a brief overview of its implementation and aim – is having a positive impact and that there is much to be upbeat about.
Around 95% of the 120 firms surveyed say that SMCR is having a "positive effect on individual behaviour".
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