- 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
April 22, 2026
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Companies 1
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