SMR- 4 Months on Forum

The Senior Managers Regime came into effect on the 7th March 2016, this was the deadline in which all employees who work within the scope of the Senior Managers and Certification Regimes must understand the regulatory requirements. In addition to regulated individuals, the FCA is broadening the application of its Code of Conduct to a wide spectrum of employees who must be trained on the Conduct Rules by 7 March 2017.

Four months on from when the Senior Managers & Certification Regime came into force, how embedded are the regimes, or is it too early to tell, how is industry thinking developing on ‘reasonable steps’ that senior managers should take to protect their positions, and how should banks share regulatory references?

The BBA’s SMR forum will bring together senior industry figures to share their thoughts on the progress of the regime.

Speakers include:

  • David Blunt, Head of Conduct Supervision Department, Financial Conduct Authority
  • Alistair Wellmann, Managing Director & Head of Compliance, Scotiabank
  • Dirk Young, Global Head of Central Compliance, Barclays
  • Caroline Stroud, Partner, Freshfields

Topics on the agenda include:

  • Getting ready for regulatory references
  • Implications of getting Fit & Proper wrong
  • ‘Reasonable steps’

09:00 Registration
09:25 Chair’s opening remarks

Simon Hills, Executive Director, Prudential Capital and Risk, BBA

09:30 Overview of the Certification Regime and Regulators’ Expectations of Firms’

David Blunt, Head of Conduct Supervision Department, Financial Conduct Authority

10:00 Applying technology to manage the challenges of the SM&CR

Carl Redfern, Compliance Director, Redland Business Solutions

10:30 Refreshment break
11:00 Getting ready for Regulatory References

Caroline Stroud, Partner, Freshfields
Christopher Robinson, Partner, Freshfields

11:30 Panel discussion: What are the implications of getting Fit & Proper wrong?

Alistair Wellmann, Managing Director & Head of Compliance, Scotiabank
Dirk Young, Global Head of Central Compliance, Barclays
Anthony Evans, Head of Compliance & Conduct Risk, Lloyds Banking Group
John Shiels, Head of Regulatory & Compliance Risk, Clydesdale Bank

12:10 Chair’s closing remarks

Simon Hills, Executive Director, Prudential Capital and Risk, BBA

12:15 Networking Lunch
13:15 Close of conference

Alistair Wellmann

Managing Director & Head of Compliance, Scotiabank


Alistair Wellmann joined Scotiabank as Managing Director and Head of Compliance for the UK, Middle East and Europe in 2012.  Scotiabank is Canada’s third largest and most international bank with over 86,000 employees in over 55 countries.  Alistair oversees Compliance across Scotiabank’s businesses in the UK, Ireland, France, the UAE and Turkey which include corporate, investment and transaction banking, equities and fixed income sales and trading, prime brokerage, foreign exchange, money markets as well as the ScotiaMocatta precious and base metals business.


Alistair has 17 years of banking, regulatory and compliance experience gained in the UK, the US and the Middle East.  From 2006 until 2008 he was the FSA’s lead on implementation of best execution and client categorisation under MiFID and he spoke at a number of industry roundtables and conferences on those topics.  He has also presented at the European Compliance Conference.


Alistair holds an M.A. (Hons) in Philosophy, Politics and Economics from Christ Church, Oxford and completed his graduate legal studies at the College of Law in London.  He was called to the bar in 2005.

Anthony Evans

Head of Compliance & Conduct Risk, Lloyds Banking Group


Tony is a specialist in the management of conduct risk in the digital environment, across the ever growing range of devices and multiple product lines.


Tony has worked with Lloyds Banking Group for 12 years in a number of regulatory focused roles, including compliance and financial crime . His current work includes developing enhanced conduct risk frameworks tailored to the needs of the on-line channel, implementation of regulatory change, digital innovation, delivery of conduct strategy and advising on business led change.


Prior to joining Lloyds Tony worked in a number of financial services firms dealing with retail banking, business banking and corporate pensions.


Tony is passionate about driving forward the conduct risk agenda in the rapidly growing and evolving on-line world activity, particularly through the use of technology and data.

John Shiels

Head of Regulatory & Compliance Risk, Clydesdale Bank

Caroline Stroud

Partner, Freshfields

Carl Redfern

Compliance Director, Redland Business Solutions


“I am the Compliance Director and co-founder of Redland Business Solutions, the market leader in specialist GRC Solutions for the Financial Services industry, for the past 15 years.

I spend my time:

  • Working with Industry Forums, Professional Bodies and Regulators to help to define the requirements of the industry.
  • Designing solutions to support key strategic functions within Compliance, T&C, Conduct Risk, Governance and Operations.
  • Helping businesses to develop the business case for people, culture and conduct initiatives.


Over the last 18 months, I have been extensively involved in the development of the SM&CR regimes, working with industry bodies, both regulators and many firms, assessing the implications of the rules and designing solutions to enable efficient and effective implementation.


Redland have developed the only specially designed technology solution to specifically support SMR and holistically integrate Certification with wider Culture and Conduct programmes.”

David Blunt

Head of Conduct Supervision Department, Financial Conduct Authority


David is Head of the Conduct Specialists Department in the Supervision Division of the FCA.  A key responsibility for his department is the implementation and embedding within Supervision Division of the new accountability regime, as well as other changes as a result of the Parliamentary Commission on Banking Standards.  David’s department also leads on financial promotions and consumer contracts issues for Supervision Division, and has teams focusing on incentives and on culture and governance at firms.


David has been at the FCA/FSA since 2000 where his roles have included the acting head of the investment banks department in Supervision Division for two years and a variety of roles in the Markets and Enforcement divisions.


Prior to joining the FSA, David worked at the London Stock Exchange in its Listing Division.


David trained as a solicitor and worked at Lovells (now Hogan Lovells) from 1992-1998 where he specialised in commercial litigation involving banks and other financial services firms.”

Dirk Young

Global Head of Central Compliance, Barclays

Simon Hills

Executive Director, Prudential Capital and Risk, BBA


Simon leads the BBA team working on prudential regulation, liquidity management and bank funding instruments.


He was previously a Director in the Debt Capital Markets Origination team at BZW and has experience of energy and aerospace project finance, gained at First Chicago. Simon is also a liveryman of the Worshipful Company of International Bankers.

Kindly hosted by:

Headline sponsor:

Redland Business Solutions are a Governance Risk & Compliance (GRC) Software company, specialising in regulation and people performance in the Financial Services marketplace.

Redland’s industry leading platform, Insight, is used to support top tier institutions in the Banking, Insurance and Advice sectors, addressing challenges of Senior Management Accountability, Certification, Conduct & Culture, Regulatory Reporting, Fit & Proper Assessment, Quality Checking and Complaints.

It is our belief that the risks and consequences of failure to adhere to the new SMR and Certification regimes are too important to leave to ad-hoc, manual and unsustainable processes.

Only Redland’s SMR solution has been specifically built to meet the rigorous needs of the new SMR, giving clients complete confidence that their regulatory obligations are comprehensively met with accuracy and efficiency. We provide maximum risk protection at low cost.

We are proud to remain UK based and independently owned, and our honest, ambitious and expert talent has been working in partnership with FS industry regulators and accredited bodies, to design and deliver exceptional results over the last 15 years.

For more information get on touch on 01527 871938 or via our website:


Panacea Workflow Systems and Panacea Risk have been successfully helping businesses meet challenges for over 15 years. More recently it has turned its focus on the Financial services sector and in particular regulatory reform. It has developed a solution for the Senior Persons Regime to help regulated institutions to comply with new and tougher conduct rules.

Hitec provides Governance, Risk & Compliance and Electronic Document & Records Management software solutions.

Our award winning solutions enable firms to evidence to the FCA and their auditors that effective Conduct Risk, Senior Management Regime, SYSC, Treating Customers Fairly and Record-Keeping frameworks are in place.

Also, to prepare for forthcoming EU General Data Protection Regulation, to accommodate a customer’s ‘right to be forgotten’ and data retention and deletion rules.

To find out more about our solutions please visit our website