A firm will be able to comply with SYSC 2.2.1 R by means of records which it keeps for its own purposes provided these records satisfy the requirements of SYSC 2.2.1 R and provided the firm takes reasonable care to keep them up to date. Appropriate records might, for this purpose, include organisational charts and diagrams, project management documents, job descriptions, committee constitutions and terms of reference provided they show a clear description of the firm's major functions.
the details in (b) must give as much information as required by the PRA Rulebook: Solvency II firms: Insurance – Allocation of Responsibilities, 5.1 as if that rule applied in relation to the persons in (b) and as if that rule had been made by the FCA;
the details in (b) and (d) must be updated in the same way as required by PRA Rulebook: Solvency II firms: Insurance – Allocation of Responsibilities, 5.2, as if that rule applied in relation to the persons in (b) and as if that rule had been made by the FCA.
The scope of responsibilities record in (2), and each updated version, must:
Each version of the governance map and, separately, the document recording a person’s scope of responsibilities must be retained for ten years from the date on which it was superseded by a more up-to-date record, and must be provided to the FCA on request.