On 12 December 2019, the FCA updated its webpage on the senior managers and certification regime (SMCR) for solo-regulated firms. The updated webpage provides a note on Approved Persons Regime (APR) applications that were in progress at the commencement of the SMCR.
For core and limited scope firms, the FCA has automatically converted APR applications in progress to applications for the relevant senior management function (SMF). These firms will need to submit a Statement of Responsibilities for their application by 16 December 2019 to their FCA case officer. If a case officer has not been assigned, firms should send the statement by responding to the acknowledgement email received when first submitting their application.
For enhanced firms, the FCA has converted APR applications in progress to applications for the relevant SMF, as long as these applications were included in a firm’s Form K.