Award

SM&CR Stocktake

THE FINANCIAL CONDUCT AUTHORITY

This public procurement record has 1 release in its history.

Award

08 Apr 2019 at 14:17

Award Notice
Summary of the contracting process

The Financial Conduct Authority (FCA) has completed a tender process for the project titled "SM&CR Stocktake", which falls under the industry category of business and management consultancy services. This procurement was conducted in London, with a contract period running from 28 January 2019 to 31 March 2019. The procurement method used was selective, involving a call-off from a framework agreement, with the tender period having concluded on 8 January 2019. The contract, awarded on 18 January 2019, is valued at £90,000, and the successful bidder was Baringa Partners LLP.

This tender presents a significant opportunity for businesses specialising in consultancy and management services within the financial sector, particularly those with expertise in regulatory compliance and the banking industry. Firms that can demonstrate a strong understanding of the Senior Managers and Certification Regime (SM&CR) and its implementation may find themselves well-positioned to compete for similar future contracts or partnerships that emerge as financial institutions seek to enhance their practices and regulatory adherence in the evolving landscape.

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Notice Information

Notice Title

SM&CR Stocktake

Notice Description

The Senior Managers and Certification Regime (SM&CR) replaced the Approved Persons Regime (APR) for banks, building societies, credit unions and dual-regulated investment firms in March 2016. The SM&CR was created by legislation, based on the recommendations of the Parliamentary Commission on Banking Standards (PCBS). In 2017, we conducted a stocktake of the implementation of SM&CR in the banking sector. This was relatively light and relied on information available internally. The results were generally positive but it was recognised at the time that it was still relatively soon after implementation, with the last deadlines having only recently been passed. There has now been sufficient time for the regime to embed in firms and for any initial issues to have been overcome. We now want to undertake a further stocktake that will seek to provide more insight into how well the regime works in the banking sector. This will give the FCA the ability to consider corrective action if needed, give messages back to the industry and help guide the implementation of the SM&CR for other firms. The proposed work aims to assess the success of the SM&CR in the banking sector (including banks, building societies and dual-regulated investment firms). It will focus on the embedding of the regime in the industry.

Notice Details

Publication & Lifecycle

Open Contracting ID
ocds-b5fd17-79e93aa0-b591-4d72-b1a8-97fa5e049162
Publication Source
Contracts Finder
Latest Notice
https://www.contractsfinder.service.gov.uk/Notice/61e08369-7495-405c-b2f2-d3e1525253a0
Current Stage
Award
All Stages
Award

Procurement Classification

Notice Type
Award Notice
Procurement Type
Framework
Procurement Category
Services
Procurement Method
Selective
Procurement Method Details
Call-off from a framework agreement
Tender Suitability
Not specified
Awardee Scale
Large

Common Procurement Vocabulary (CPV)

CPV Divisions

79 - Business services: law, marketing, consulting, recruitment, printing and security

CPV Codes

79400000 - Business and management consultancy and related services

Notice Value(s)

Tender Value
Not specified
Lots Value
Not specified
Awards Value
£90,000 Under £100K
Contracts Value
Not specified

Notice Dates

Publication Date
8 Apr 20196 years ago
Submission Deadline
8 Jan 2019Expired
Future Notice Date
Not specified
Award Date
18 Jan 20197 years ago
Contract Period
28 Jan 2019 - 31 Mar 2019 1-6 months
Recurrence
Not specified

Notice Status

Tender Status
Complete
Lots Status
Not Specified
Awards Status
Active
Contracts Status
Not Specified

Buyer & Supplier

Contracting Authority (Buyer)

Main Buyer
THE FINANCIAL CONDUCT AUTHORITY
Contact Name
Available with D3 Tenders Premium →
Contact Email
Available with D3 Tenders Premium →
Contact Phone
Available with D3 Tenders Premium →

Buyer Location

Locality
LONDON
Postcode
E20 1JN
Post Town
East London
Country
England
Major Region (ITL 1)
TLI London
Basic Region (ITL 2)
TLI4 Inner London - East
Small Region (ITL 3)
TLI41 Hackney and Newham
Delivery Location
TLI London
Local Authority
Newham
Electoral Ward
Stratford Olympic Park
Westminster Constituency
Stratford and Bow

Supplier Information

Number of Suppliers
1
Supplier Name

BARINGA PARTNERS

Further Information

Notice Documents

Open Contracting Data Standard (OCDS)

View full OCDS Record for this contracting process

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The Open Contracting Data Standard (OCDS) is a framework designed to increase transparency and access to public procurement data in the public sector. It is widely used by governments and organisations worldwide to report on procurement processes and contracts. 

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