Investor in Customers (IIC) has launched a new customer insight and assessment product, SM&CR Essential.

Since the 2008 financial crisis, regulators have held many firms to account for failings, but very few individuals. The Senior Managers & Certification Regime (SM&CR) was introduced to address this.

The FCA has launched a new consultation on the Senior Managers and Certification Regime, which proposed a number of regulatory changes.

An FCA probe into its crackdown on senior managers’ accountability has found some firms appear to be sharing responsibility among more junior staff and “obscuring who is genuinely responsible”.