Responsibilities that are written down and real.
Statements of responsibilities, certification, regulatory references and conduct rules training, scaled to whether you are a limited-scope, core or enhanced firm.
Which regime you are in
Many smaller firms are limited-scope SM&CR firms, to which the prescribed responsibilities in SYSC 24 do not apply (SYSC 23.3.3G). Core firms take on the prescribed responsibilities (SYSC 24); the responsibilities map and handover rules (SYSC 25) apply only to enhanced firms. We tell you which you are before we write anything.
What applies now
What we do
- Senior manager applications (SUP 10C)
- Statements of responsibilities and the map
- Certification, including annual renewal (SYSC 27.2.10G)
- Regulatory references (SYSC 22.2.1R)
- Conduct rules training and reporting (COCON 2.2.1R, COCON 2.2.4R)
- Fitness and propriety (FIT 1.3.1G)
Questions
Short answers, with the provision each one rests on.
Do the SYSC 24 prescribed responsibilities apply to a limited-scope firm?
No. SYSC 23.3.3G explains that the prescribed responsibilities in SYSC 24 do not apply to limited scope SMCR firms.
Talk to someone who has done your job.
A 30-minute call, no deck. Bring the problem; we will tell you what we would do.