This Practice Note sets out the key issues relating to the Senior Managers and Certification Regime (SM&CR) of which employment lawyers need be aware when advising employers and individuals covered by the regime. The Practice Note explains the current application of the Senior Managers regime and the key aspects of it such as senior management functions (SMFs), statement of responsibilities, the management responsibilities map, prescribed responsibilities and overall responsibility, how non-executive directors performing SMFs are affected and the concept of ‘notified NEDs’, and the criminal offences associated with the regime. The Practice Note provides an overview of the key aspects of the Certification regime, and explains the fitness and propriety (F&P) standards applicable to those undertaking certification functions (also known as ‘significant harm functions’) and other certification staff. The requirement to assess fitness and propriety on recruitment or appointment and on an ongoing basis is explained. The Practice Note also considers steps to take when an individual is no longer considered fit and proper. The conduct rules (set out in COCON) are explained. The impact of the SM&CR on disciplinary processes and settlement is examined. Privilege issues are explained and the impact of SM&CR on internal HR policies and procedures is considered. Regulator notification requirements are set out. The Practice Note also summarises the requirements in relation to regulatory references and the FCA and PRA rules on whistleblowing. The Practice Note signposts further materials in relation to the FCA’s expectations around culture in financial services firms, and the application of the SM&CR to insurers, solo-regulated firms, claims management companies and benchmark administrators.