WebThe Senior Managers Regime replaces the Approved Persons regime as part of implementing the recommendations in the final report of the Parliamentary Commission on Banking Standards to support a change in culture at all levels at banks, building societies, … Alternatively, please see the FCA Register which is the primary source of PRA … Subject to any transitional relief, forms and templates applicable before 11pm … The transition period has ended and passporting rights for EEA firms have … A person who decides to acquire or increase control in a dual-regulated firm … Dual-regulated firms must apply to us for a change in permission for any of the … The PRA Rulebook states that where a firm has applied for cancellation of its Part 4A … Subject to any transitional relief, forms and templates applicable before 11pm … Submitting an authorisation application To submit an application, firms will need to … WebDec 8, 2024 · Learn about senior management functions (SMFs) and how we assess them. SMFs are a type of controlled function carried out by approved persons. Anyone who …
Senior Managers Regime: Statement of Responsibilities - FCA
WebJun 30, 2016 · Specification of functions. SUP 10C.4.1 R 07/03/2016 RP. (1) Each function described in SUP 10C.4.3R is an FCA controlled function. (2) In accordance with section … WebSUP 10C.9.8 R 02/06/2024 RP. A person (referred to as ‘A’ in this rule) is not performing an FCA governing function (referred to as the ‘particular’ FCA governing function in this rule) … unhappy horse
What are Prescribed Responsibilities under the Senior Managers ...
WebJun 12, 2024 · SMF 4 Chief Risk function SMF 5 Head of Internal Audit SMF 6 Head of Key Business Area SMF 7 Group Entity Senior Manager ... The following senior management functions are specific to the insurance sector and are governed by the PRA: SMF 20 Chief Actuary SMF 20a With-Profits Actuary SMF 23 Chief Underwriting Officer SMF 23a ... WebFeb 20, 2024 · The SMF 24 is unusual in that it was introduced into the SM&CR after the regime came into force and is the only role that may be split (rather than shared). Where the SMF24 is split, the PRA does not expect it to be split among more than three individuals. WebSep 8, 2024 · 4. Significant Management Certification Function. In most cases it will be apparent whether an individual is performing a Certification Function. However, whether an individual’s role falls within the scope of the significant management Certification Function requires the firm to apply an element of judgment. unhappy home improvement show