SMCR - a practical workshop

Insurance Institute of London - Consilium
Wednesday, 11 September 2019
9:00 am – 12:30 pm
    • Branko Bjelobaba FCII, Senior Consultant on FCA Compliance & CII Accredited Advanced General Insurance Trainer, Branko Limited
    • John King, Independent Non-Executive Director, A-Plan Group
    • Sarah Wallace, Solicitor & Partner, Constantine Law
  • Financial Services webinar

With SMCR due to start on 9th December for all solo regulated intermediary firms this event will focus on ensuring that you’ve got it right!

The speakers will focus on your plans for implementation (have you identified your Senior Managers and Certified staff correctly and drawn up appropriate Statements of Responsibilities, etc?) and are happy to take questions (ideally submitted in advance) to do with your own firm’s specific issues.

Have you given thought to allocating responsibility for major areas of FCA focus such as pricing, product governance (oversight distribution chain inc ARs and value measures), insurer due diligence, complaints (inc TCF and vulnerable customers), cyber/IT, whistleblowing, HR etc?

An update on key FCA matters will be provided by John King (has just spent 16 years at the FCA in charge of 5,000 GI firms) and Sarah Wallace, a lawyer who specialises in defending prosecutions by bodies such as the FCA who will focus on the people side of enforcement and use examples of previous cases and will emphasise the shift to individuals' accountability.

Feedback from the previous session:

"Very knowledgeable speakers"

"Expert, clarity and engagement were key strengths; Insightful seminar"

"Engaging discussions and presentation style - very informative but explained clearly"

"Very useful output in terms of slides and how to implement SMCR"

"Openness of debate and real life case studies"

By the end of this event delegate will have gained an insight into:

  • The New Senior Managers Regime, Certification requirements and Conduct Rules that will apply to all relevant staff – checking that your plans are in line with what is needed
  • Current topics of concern to the FCA - culture, pricing, customers' best interests, value measures and due diligence and how these should be allocated across the Statements of Responsibilities
  • Current enforcement issues highlighting the increased focus on individual accountability

This session will include presentations from:

Branko Bjelobaba will take delegates through the Senior Managers and Certification Regime that becomes law on 9 December 2019 and will outline what firms will need to do. He will highlight what needs to happen with Statements of Responsibility and who could become Certified and how the Conduct Rules will apply to all staff. He will also explain how all this will happen and what action firms will need to take in readiness for the new regime.

John King who has spent the last 16 years at the FCA/FSA. John will speak about the FCA's mission, the harm in financial services and that underlying everything, firms should have customers' interests at the heart of their business. He will relate this to the current issues of interest and what firms should be doing about them. This will include culture, which is a key driver in firm's behaviour, differential pricing, whereby existing customers are charged more than new customers, the requirement under the Insurance Distribution Directive to act in the customers' best interests, the proposed value measures as an indicator of poor value products, due diligence on insurers and whistleblowing plus any relevant items from the FCA Business Plan for 2019/20.

Sarah Wallace has wide experience in defending large and complex criminal or regulatory investigations or prosecutions by bodies such as the FCA, SFO and HMRC. FCA Enforcement Update. Sarah will cover topical issues such as: The 'diagnostic approach, current enforcement caseload, recent tribunal and Regulatory Decisions Committee decisions, the new settlement regime for liability and penalties and protecting a firm's reputation under investigation.

In addition to the three presentations there will be an extended group Q&A session that will take questions on the three topics presented plus anything else troubling you to do with FCA.

Session Rates:

  • CII/PFS member: £250 + VAT
  • Non-members: £350 + VAT

Speaker Bios:

Branko Bjelobaba FCII, Senior Consultant on FCA Compliance & CII Accredited Advanced General Insurance Trainer, Branko Limited

Branko Bjelobaba has worked for 31 years across the sector and latterly at PwC and GISC and has led his own consultancy practice for 15 years. He works closely with BIBA (and has published their compliance manual since 2004) and the CII and has provided many well-received training events throughout the UK. He was recipient of the London Market People Award for Legal and Compliance in 2017.

John King

John King has recently joined A-Plan Group as an Independent Non-Executive Director and has 30 years of financial services experience and spent 16 years at the FCA/FSA in front line supervision. He qualified as a Chartered Accountant and worked for PwC in their Bermuda office auditing the insurance and offshore financial services industry and then joined Willis UK. In 2002 he moved to the FSA supervising large general insurers and then managed the regional insurance brokers team from 2005. During the financial crisis he moved internally to supervise hedge funds and investment banks and in 2013 returned to GI managing the thematic team and publishing reports on conflicts of interest, claims and price comparison websites. His final role at the FCA was managing the Retail Insurance Intermediary Supervision team (with responsibility for over 5,000 firms) where he built relationships with their senior management and worked closely with BIBA, CII, MGAA, PRA, FOS, FSCS, HMT, EIOPA and overseas regulators. He successfully delivered significant FCA engagement with firms via Live & Local.

Sarah Wallace

Sarah Wallace is a solicitor and partner at Constantine Law. She specialises in financial crime, fraud and regulatory investigations, with particular experience of defending large and complex criminal or regulatory investigations or prosecutions by bodies such as the FCA, SFO and HMRC. She is highly regarded within the legal profession and gets to the essence of what matters early on and, importantly, she can see what advice that a client should get early on.


Please contact (0800 619 6619) with any queries and to submit your questions in advance of the event.

  • Insurance Institute of London - Consilium
  • 21 Lombard Street
  • London
  • EC3V 9AH
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CII Accredited

This demonstrates the quality of an event and that it meets CII member CPD scheme requirements.

3 hours' CPD can be claimed for this event if relevant to your learning and development needs.

It is recommended that you keep any evidence of the CPD activity you have completed and upload copies to the recording tool as the CII may ask to see this if your record is selected for review. Details of the scheme can be viewed online at