England and Wales commercial and regulatory procedures
How long is an SMCR fit and proper certificate valid?
Twelve months beginning with the issue day. Assess fitness and propriety before issuing a certificate and maintain the required record. A certificate does not last a universal 365 days. Establish the covered function, issuer, actual issue date and whether certification remains applicable.
- Period
- Twelve months beginning with the issue day
- Trigger
- Actual certificate issue day
- Rule
- Financial Services and Markets Act 2000, section 63F
Financial Services and Markets Act 2000, section 63F. The retained source governs assess fitness and propriety before issuing a certificate and maintain the required record. A certificate does not last a universal 365 days. Establish the covered function, issuer, actual issue date and whether certification remains applicable.
Source guide · No automated date
Check the applicable procedure
A certificate does not last a universal 365 days. Establish the covered function, issuer, actual issue date and whether certification remains applicable. FSMA section 63F(5) uses calendar months beginning with the issue day. Renewal assessment must precede the next certificate. The actual actual certificate issue day and required completion must be established before using a final date.
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How long is an SMCR fit and proper certificate valid?
Twelve months beginning with the issue day. Assess fitness and propriety before issuing a certificate and maintain the required record. A certificate does not last a universal 365 days. Establish the covered function, issuer, actual issue date and whether certification remains applicable.
Responsible actor. Authorized person issuing a section 63F certificate.
Actual certificate issue day.
A certificate does not last a universal 365 days. Establish the covered function, issuer, actual issue date and whether certification remains applicable.
A certificate does not last a universal 365 days. Establish the covered function, issuer, actual issue date and whether certification remains applicable.
Financial Services and Markets Act 2000, section 63FHow does this provision count time?
- Assess fitness and propriety before issuing a certificate and maintain the required record.
- FSMA section 63F(5) uses calendar months beginning with the issue day. Renewal assessment must precede the next certificate.
- A certificate does not last a universal 365 days. Establish the covered function, issuer, actual issue date and whether certification remains applicable.
FSMA section 63F(5) uses calendar months beginning with the issue day. Renewal assessment must precede the next certificate.
FSMA section 63F(5) uses calendar months beginning with the issue day. Renewal assessment must precede the next certificate. A certificate does not last a universal 365 days. Establish the covered function, issuer, actual issue date and whether certification remains applicable.
Financial Services and Markets Act 2000, section 63FWhich facts prevent one automatic date?
A certificate does not last a universal 365 days. Establish the covered function, issuer, actual issue date and whether certification remains applicable. FSMA section 63F(5) uses calendar months beginning with the issue day. Renewal assessment must precede the next certificate. The actual actual certificate issue day and required completion must be established before using a final date.
The authorized person issuing a section 63F certificate has established the applicable procedure and actual certificate issue day. A certificate does not last a universal 365 days. Establish the covered function, issuer, actual issue date and whether certification remains applicable. Assess fitness and propriety before issuing a certificate and maintain the required record. Twelve months beginning with the issue day. No computed final date is supplied.
A proposed completion raises a nonbusiness-day or time-boundary question for assess fitness and propriety before issuing a certificate and maintain the required record. FSMA section 63F(5) uses calendar months beginning with the issue day. Renewal assessment must precede the next certificate. Resolve this boundary under the identified provision and actual completion route. FSMA section 63F(5) uses calendar months beginning with the issue day. Renewal assessment must precede the next certificate.
A certificate spans a leap year and the employee’s functions change. A certificate does not last a universal 365 days. Establish the covered function, issuer, actual issue date and whether certification remains applicable. A certificate does not last a universal 365 days. Establish the covered function, issuer, actual issue date and whether certification remains applicable. No automatic final date follows from this scenario.
Which conditions and exceptions apply?
- Applicable procedure and actual event
- A certificate does not last a universal 365 days. Establish the covered function, issuer, actual issue date and whether certification remains applicable.
- Counting and completion boundary
- FSMA section 63F(5) uses calendar months beginning with the issue day. Renewal assessment must precede the next certificate.
- A certificate does not last a universal 365 days. Establish the covered function, issuer, actual issue date and whether certification remains applicable.
- Authorized person issuing a section 63F certificate. Actual certificate issue day. Assess fitness and propriety before issuing a certificate and maintain the required record. FSMA section 63F(5) uses calendar months beginning with the issue day. Renewal assessment must precede the next certificate.
What must the responsible actor complete?
Questions about this procedure
How long is an SMCR fit and proper certificate valid?
Are twelve months always 365 days?
No. The statute uses calendar months.
Financial Services and Markets Act 2000, section 63FDoes an earlier assessment date necessarily start validity?
Section 63F(5) uses the certificate issue day.
Financial Services and Markets Act 2000, section 63FMay a certificate be issued without a fit and proper assessment?
Section 63F(1) requires the authorized person to be satisfied.
Financial Services and Markets Act 2000, section 63FMust the certificate identify the function?
Section 63F(4) requires the specified function-related information.
Financial Services and Markets Act 2000, section 63FMust the firm keep a record?
Section 63F(7) requires a record of employees with valid certificates.
Financial Services and Markets Act 2000, section 63FIs this a filing deadline with automatic holiday rollover?
No. It is a statutory validity period.
Financial Services and Markets Act 2000, section 63FOfficial sources and review
Provisions used (2)
| Provision | Purpose |
|---|---|
| Financial Services and Markets Act 2000, section 63F | Check the identified procedure, event, counting rule or qualification |
| FCA Handbook sysc27, SYSC 27.2 | Check the identified procedure, event, counting rule or qualification |