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Status: You are viewing the version of the handbook as on 2018-12-10.

SYSC 25.2 Management responsibilities maps: Main rules

General rule

SYSC 25.2.1R
  1. (1)

    1A UK SMCR firm must, at all times, have a comprehensive and up-to-date document (the management responsibilities map) that describes its management and governance arrangements.

  2. (2)

    An overseas SMCR firm must, at all times, have a comprehensive and up-to-date document (the management responsibilities map) that describes the management and governance arrangements for any branch it maintains in the United Kingdom.

  3. (3)

    A management responsibilities map must include:

    1. (a)

      details of the reporting lines and the lines of responsibility; and

    2. (b)

      reasonable details about:

      1. (i)

        the persons who are part of those arrangements; and

      2. (ii)

        their responsibilities.

      (See further requirements in SYSC 25.2.3R.)

SYSC 25.2.2R

1The firm’s management responsibilities map must show clearly how any responsibilities covered by a firm’s management responsibilities map are shared or divided between different persons.

Specific requirements

SYSC 25.2.3R

1A management responsibilities map must include:

  1. (1)
    1. (a)

      the names of all the firm’s:

      1. (i)

        approved persons (including PRA approved persons);

      2. (ii)

        members of its governing body and (if different) management body who are not approved persons;

      3. (iii)

        senior management;

      4. (iv)

        senior personnel; and

    2. (b)

      details of the responsibilities which they hold;

  2. (2)

    all responsibilities described in any current statement of responsibilities;

  3. (3)

    details of the management and governance arrangements relating to:

    1. (a)

      the FCA-prescribed senior management responsibilities; and

    2. (b)

      the PRA-prescribed senior management responsibilities;

    including the identity of the persons to whom those functions are allocated;

  4. (4)

    the reasons why (if it has done any of these things) the firm:

    1. (a)

      allocates responsibility for an FCA-prescribed senior management responsibility to more than one person jointly; or

    2. (b)

      divides responsibility for an FCA-prescribed senior management responsibility between different persons;

  5. (5)

    details about the functions allocated under, SYSC 26 (Senior managers and certification regime: Overall and local responsibility), including:

    1. (a)

      what the activities, business areas and management functions allocated under that chapter are;

    2. (b)

      the management and governance arrangements relating to them;

    3. (c)

      [deleted]

    4. (d)

      the reasons why (if it has done this) the firm allocates responsibility for any such function to more than one person jointly; and

    5. (e)

      the identity of the persons to whom those functions are allocated;

  6. (6)

    matters reserved to the governing body (including the terms of reference of its committees) and, if different, the management body;

  7. (7)

    details of how the firm’s management and governance arrangements fit together with:

    1. (a)

      its group; and

    2. (b)

      any other person in (8);

  8. (8)

    details of the extent to which the firm’s management and governance arrangements are provided by, or shared with, other members of its group or others;

  9. (9)

    details of the reporting lines and the lines of responsibility (if any) between the firm and those who carry out functions in relation to it and:

    1. (a)

      other members of its group or other third parties;

    2. (b)

      persons acting as employees or officers of, or otherwise acting for, anyone in (a); or

    3. (c)

      committees or other bodies of anyone in (a);

  10. (10)

    reasonable information about the persons described or identified in the management responsibilities map, including:

    1. (a)

      whether they are employees of the firm and, if not, by whom they are employed;

    2. (b)

      if they are certification employees of the firm; and

    3. (c)

      the responsibilities they have in relation to other group members or any other person in (8); and

  11. (11)

    details of how (1) to (10) fit together and fit into the firm’s management and governance arrangements as a whole.

SYSC 25.2.4R

1SYSC 25.2.3R(1) does not require the firm to include the names of approved persons under SUP 10A.1.16BR (Appointed representatives).