The Senior Managers and Certification Regime in UK practice and global context

Publication details

Hickman, E. and Brener, A. (2025) 'The Senior Managers and Certification Regime in UK practice and global context'. Journal of Banking Regulation. Available at: https://doi.org/10.1057/s41261-024-00263-w

Summary

Public anger following the 2007/9 financial crisis was exacerbated by the failure to hold people accountable. A Parliamentary Commission recommended new legislation which resulted in the Senior Managers and Certification Regime (SMCR). A few other jurisdictions (e.g. Ireland and Australia) adopted similar requirements. In this article we document interviews with individuals who are or have been directly involved in implementing the regime or are currently personally impacted by it.