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Conduct & Culture

Focusing on the human side of compliance: SMCR, Consumer Duty, and training.

Structuring SMCR accountability and conduct risk training for London investment firms

Structuring SMCR accountability and conduct risk training for London investment firms

For mid-sized London investment firms, managing the Senior Managers and Certification Regime (SMCR) has become more complex following the Financial Conduct Auth

·9 min read
The billable hour vs fixed-fee retainers: FCA compliance delivery models compared

The billable hour vs fixed-fee retainers: FCA compliance delivery models compared

Mid-sized financial services firms in the United Kingdom frequently struggle to choose between traditional billable-hour legal advice and fixed-fee compliance p

·8 min read
Evaluating FCA compliance partners: Why mid-market firms need execution over advisory

Evaluating FCA compliance partners: Why mid-market firms need execution over advisory

Mid-market financial firms frequently struggle to choose between hiring expensive internal compliance managers and signing up for superficial advisory retainers

·6 min read

The commercial ROI of Consumer Duty: calculating the true cost of proactive compliance

Many financial firms treat the FCA's **Consumer Duty** regulations as an expensive regulatory tax, overlooking how early adopters use outcome-focused frameworks

·6 min read
The decision register: what the FCA actually looks for in governance

The decision register: what the FCA actually looks for in governance

When the Financial Conduct Authority (FCA) states that firms demonstrably seeking to do the right thing will benefit from less intensive supervision, most compl

·7 min read
6 operational behaviors that trigger less intensive FCA supervision

6 operational behaviors that trigger less intensive FCA supervision

The FCA has explicitly shifted its operational model toward early, assertive intervention, reducing open enforcement actions from approximately 220 in 2023 to j

·8 min read

How a London wealth manager restructured legacy fees under FCA fair value rules

In early 2026, a mid-sized London wealth manager with £50 million in annual revenue realized their legacy fee structures could not withstand the scrutiny of Yea

·8 min read
SMF 16 vs SMF 17: Dividing compliance and AML duties in UK fintechs

SMF 16 vs SMF 17: Dividing compliance and AML duties in UK fintechs

How should growing UK fintechs divide compliance and money laundering reporting duties? At **Compliance Consultant**, we frequently see mid-sized fintechs strug

·8 min read
The lean governance framework for FCA board reporting packs

The lean governance framework for FCA board reporting packs

With the **Consumer Duty** annual reporting deadline of **July 31, 2026** fast approaching, mid-sized UK financial firms face a major challenge in producing boa

·7 min read
How a rapidly growing payment processor cleared an FCA warning through governance restructuring

How a rapidly growing payment processor cleared an FCA warning through governance restructuring

When FCA-authorised payment processor **Pay4Well** experienced a major security breach, the resulting public scrutiny and subsequent regulatory warning exposed

·6 min read
How fintechs map transactional data to the four FCA outcomes

How fintechs map transactional data to the four FCA outcomes

In this guide, **Compliance Consultant** explains how to translate your platform's raw transactional data and product analytics into concrete evidence for the F

·7 min read
How Mid-Sized Firms Can Evidence Consumer Duty Outcomes for FCA Board Reviews

How Mid-Sized Firms Can Evidence Consumer Duty Outcomes for FCA Board Reviews

In the Financial Conduct Authority’s review of Year 2 Consumer Duty Board reports, a clear pattern emerged: having a vulnerable customer policy on file is entir

·7 min read

Operationalizing the FCA 12 Principles Without Losing Your Firm's Commercial Momentum

When a regulatory officer sits across the desk from you, they are not looking for a leather-bound manual of policies that has been gathering dust since your las

·4 min read

Paper vs. Practice: Mapping SMCR Accountability to Daily Decisions in Regulated Firms

Filing a Form A to appoint a Senior Management Function (SMF) tells the Financial Conduct Authority (FCA) exactly who is expected to take the fall if a regulato

·6 min read
Beyond the Balance Sheet: Why the FCA Scrutinizes Your Regulatory Business Plan

Beyond the Balance Sheet: Why the FCA Scrutinizes Your Regulatory Business Plan

In early 2026, submitting a Regulatory Business Plan (RBP) that reads like a traditional commercial pitch is the fastest way to trigger a regulatory rejection.

·6 min read

How to Evidence SMF Fitness and Propriety in Your 2026 FCA Application

Submitting a Senior Management Function (SMF) application with an incomplete Form A does not just delay that individual’s approval. It halts the FCA statutory a

·5 min read
Evidencing Reasonable Steps Under SM&CR: A Practical Framework for Senior Managers

Evidencing Reasonable Steps Under SM&CR: A Practical Framework for Senior Managers

When the FCA investigates a regulatory breach, "I didn't know" isn't a defense for a Senior Management Function (SMF) holder. Relying on a static compliance man

·7 min read
Why the FCA is Targeting Non-Financial Misconduct in 2026 Regulatory Audits

Why the FCA is Targeting Non-Financial Misconduct in 2026 Regulatory Audits

FCA enforcement actions increased by 24% in recent reporting periods, but the regulator is no longer just looking at spreadsheets and financial returns. In 2026

·5 min read
Why the FCA Expects External Peer Benchmarking for Fair Value Assessments

Why the FCA Expects External Peer Benchmarking for Fair Value Assessments

Grading your own homework will no longer satisfy the regulator's fair value requirements. If your firm’s latest Consumer Duty board report relies entirely on in

·5 min read
How to Evidence Fair Value Benchmarking in Your Consumer Duty Board Report

How to Evidence Fair Value Benchmarking in Your Consumer Duty Board Report

The FCA's scrutiny of fair value assessments has made one thing clear for 2026: stating your firm's pricing is "competitive" without hard benchmarking data is a

·6 min read
The Definitive Guide to Auditing Price and Value Assessments for UK Fintechs

The Definitive Guide to Auditing Price and Value Assessments for UK Fintechs

When the FCA reviewed the fair value assessment frameworks of 14 major firms across retail banking, consumer investments, and payments, they found a recurring,

·7 min read

How Fintechs Fail the Vulnerable Customer Test: A Practical 2026 Compliance Guide

Up to 67% of UK consumers could be classified as vulnerable under the Financial Conduct Authority's criteria, yet most digital financial journeys are designed e

·7 min read
Evidencing Consumer Duty Outcomes in Fintech: Moving Beyond Manual Spreadsheets

Evidencing Consumer Duty Outcomes in Fintech: Moving Beyond Manual Spreadsheets

In 2023, meeting the initial Consumer Duty deadline often meant updating policies, training staff, and spot-checking a few customer interactions in a spreadshee

·5 min read
Why Checklists Fail: The 2026 Guide to FCA Consumer Duty Audits

Why Checklists Fail: The 2026 Guide to FCA Consumer Duty Audits

In 2023, updating your policy documents and ticking off a Consumer Duty implementation checklist was enough to satisfy the FCA. In 2026, relying on that same ch

·6 min read
SM&CR Personal Liability Guide: Why Compliance Training Is Your Only Real Defense

SM&CR Personal Liability Guide: Why Compliance Training Is Your Only Real Defense

When the FCA investigates a governance failure under the Senior Managers & Certification Regime (SM&CR), they do not just look at the firm's balance sheet. They

·7 min read
Your Solicitor Can't Save You From the FCA: Legal Advice vs. Specialist Compliance Consultancy

Your Solicitor Can't Save You From the FCA: Legal Advice vs. Specialist Compliance Consultancy

When the FCA issued 496 final notices in a recent supervisory year, the majority of firms on the receiving end had legal representation. Having a solicitor didn

·8 min read
FCA Consumer Duty and the Fintech Product Lifecycle: A 2026 Compliance Roadmap

FCA Consumer Duty and the Fintech Product Lifecycle: A 2026 Compliance Roadmap

Over [60,000 UK firms](https://www.smaply.com/blog/fca-consumer-duty-journey-map) are subject to the FCA's Consumer Duty — described as the largest regulatory o

·8 min read