The FCA have published its findings of its review of the SM&CR and how it has fared so far in the banking sector. Overall, the FCA found that efforts were being made to implement the regime, which was said to be having an impact on a firm's culture and the mindset of senior managers.  An interesting read, particularly for FCA solo-regulated firms who will be subject to the new regime in December and who should already be in the midst of preparing for this regulatory change.