MIFID investment firms now need to use a new form to notify FCA of management body changes for Non-SMF Directors. This form is required to submit information when appointing Non-SMF Directors to, or withdrawing them from, the firm’s management body.
The form is called ‘Notification Procedures for Changes to the Management Body for Non-SMF Directors’ and is available to download in SUP 15 Annex 14R of the FCA Handbook.
If a firm’s management body changes, the form needs to be downloaded, completed and emailed to NonSMFNotification@fca.org.uk until it is loaded on to Connect. From Q1 2020, firms will be able to submit the form via Connect, the FCA’s online platform.
Identify, Assess & Manage
Steve Bailey Compliance FCA
Before you read on, what do you think the title refers to? The answer is Business Risks. The FCA has been highlighting this issue in workshops. They expect firms to ‘Identify, Assess & Manage’ risks and to be able to provide documentary proof that they are so doing. They expect firms to have at least […]