FCA and PRA confirm reforms to streamline the Senior Managers & Certification Regime, reducing compliance burden and boosting flexibility while maintaining strong accountability to support growth

The changes make it easier for firms to comply by increasing flexibility, simplifying processes and reducing administrative costs, forming part of a broader government-led programme to cut regulatory complexity and improve competitiveness. While preserving the core principle of senior-manager accountability, the reforms include measures such as streamlined approval processes, clearer role definitions and potential future reductions in the number of roles requiring regulatory pre-approval, with further simplification planned in subsequent phases.