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Culture, ethics and customers - taking SM&CR beyond compliance

Simply complying with the SM&CR isn't enough. The FCA is interested in understanding how firms go beyond the minimum expectation to build a company culture and ethical framework which more than meets the requirement. We help firms understand what must be done next and explain the lessons learned from the Banking sector's implementation of the SM&CR.

I'm already compliant.

Why should I attend?

SM&CR has seen the FCA place greater importance on the management, culture, ethics and accountability of Insurance firms than ever before.


Simply complying with the nuts and bolts of the SM&CR doesn’t go nearly far enough.


To be compliant with the 'spirit' of the regulation, Insurers must evidence they are proactively developing the culture and governance of their organisation. 


This briefing explains how you can audit your current level of compliance and gives examples of relevant SM&CR lessons learned in the Banking sector. This is intended to help Insurers benchmark their current state and understand the FCA's expectations so they don't make common, costly errors which result in a Section 166 order.

Benefits include:

  • Benchmark current level of compliance
  • Understand the FCA's expectations post-compliance
  • Practical advice to develop company culture to benefit customers
  • Learn from the Banking sector's experience of implementing SM&CR

I’ve worked with lots of clients in the Banking sector who underestimated how long it would take them to be compliant - even when they thought they already were.

Julie Ampadu

- DSW SM&CR Lead


About the SM&CR Lead

The SM&CR Lead is a Training & Compliance specialist with an intimate knowledge of FCA regulation.

She is a former Compliance Manager of a large Financial Services network, a Deputy Chair of the Association of Compliance Consultants and an ex-Chair of the North West branch of the Personal Finance Society.


Having built a career in the Financial Services regulatory space, she has extensive experience when it comes to interpreting the regulator’s rules and building learning interventions that ensure firms are complaint.

Whilst Director of a compliance consultancy and regulatory training firm, she has provided training and support for major Banking clients in the implementation of the SM&CR and Conduct Rules since these were introduced by the FCA in 2016.

She also provides ongoing compliance support to a range of Financial Services clients with regulatory training and audit needs.



Video: Banking leaders' experience of adopting the SM&CR 

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