The UK’s key financial regulators, the FCA, PRA and Treasury have today launched a sweeping review of the Senior Managers and Certification Regime (SM&CR).

The FCA has told firms that Senior Managers must consider the “emerging risks” from the Coronavirus outbreak.

The failure to include appointed reps in the FCA’s new Senior Managers & Certification Regime, which comes into effect today (9 December) is an “oversight”, according to a regulatory expert.