---
title: FCA and PRA streamline SMCR to boost growth
description: FCA and PRA streamline SMCR to boost growth
---

[News & insights ](https://www.plenitudeconsulting.com/news-insights)

# [FCA and PRA streamline SMCR to boost growth](https://www.plenitudeconsulting.com/news-insights/fca-and-pra-streamline-smcr-to-boost-growth)

 Written by [Insight & Partnership Team](https://www.plenitudeconsulting.com/news-insights/author/insight-partnership-team) | Apr 27, 2026 3:11:23 PM

 

The reforms represent the first phase of a broader multi-stage package led by the Government and regulators to reduce regulatory burden while maintaining senior accountability.

Key points include:

➡️ **Reduced Certification Scope:** Removal of duplicate certification requirements for overlapping roles reduces the total number of certification roles by approximately 15%;

➡️ **Streamlined Fit and Proper Assessments:** Annual certification checks are simplified to reduce operational burden while maintaining standards;

➡️ **Proportionate Enhanced Regime:** Thresholds for enhanced firms increase by 30%, limiting the most stringent requirements to larger, more complex firms;

➡️ **Clarified SMF Definitions:** Improved guidance supports clearer interpretation of certain senior management functions (SMFs);

➡️ **Extended Reporting Deadlines:** Firms gain additional time to notify regulators of changes to senior manager responsibilities and directory updates;

➡️ **Future Reform Direction:** The Government proposes removing the Certification Regime from legislation and reducing the number of pre-approved SMFs, with further consultations expected in 2026.

✅ Firms should review SM&CR governance frameworks, certification processes and SMF mapping to align with the updated requirements and prepare for further reforms.

 

[View full post](https://www.plenitudeconsulting.com/news-insights/fca-and-pra-streamline-smcr-to-boost-growth)

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