• FCA and PRA reduce SM&CR certification roles by ~15% by removing overlapping function requirements
• Enhanced firm thresholds raised by 30% to limit stricter rules to larger, more complex firms
• Government proposes removing Certification Regime from legislation and reducing pre-approval SMFs
• FCA/PRA approval times improved: 99.7%/100% of applications processed within 3-month deadline vs 94.7%/98% within proposed 2-month target