Home FCA Handbook SUP SUP 10C SUP 10C.4 Specification of functions
You are viewing SUP 10C.4 Specification of functions as of . SUP 10C.4 Specification of functions was last updated on 07/12/2020.

SUP 10C.4 Specification of functions

07/03/2016R
  1. (1)

    Each function described in SUP 10C.4.3R is an FCA controlled function.

  2. (2)

    In accordance with section 59(6A) of the Act (Approval for particular arrangements), the FCA designates each function in (1) as a senior management function.

10/12/2018R

SUP 10C Annex 1 (What functions apply to what type of firm) sets out which of the functions in SUP 10C.4.3R apply to which kind of firm.

09/12/2019R

Table of FCA-designated senior management functions for SMCR firms

TypeSMFDescription of FCA controlled function
FCA governing functionsSMF 1Chief executive function
SMF 3Executive director function
SMF 7Group entity senior manager function
SMF 9Chair of the governing body function
SMF 10Chair of the risk committee function
SMF 11Chair of the audit committee function
SMF 12Chair of the remuneration committee function
SMF 13Chair of the nomination committee function
SMF 14Senior independent director function
SMF 15Chair of the with-profits committee function
SMF 19Head of third country branch function
SMF 27Partner function
FCA required functionsSMF 16Compliance oversight function
SMF 17Money laundering reporting function
SMF 18Other overall responsibility function
SMF22Other local responsibility function
SMF 23bConduct risk oversight (Lloyd’s) function
SMF 29Limited scope function
Other high-level management functionsSMF 21EEA branch senior manager function
Systems and controls functionsSMF 2Chief finance officer function
SMF 4Chief risk officer function
SMF 5Head of internal audit function
SMF 24Chief operations function
07/12/2020G

As described in SUP 10C.1.7R to SUP 10C.1.8G (Appointed representatives), SUP 10A (FCA Approved Persons in Appointed Representatives) specifies certain other controlled functions for SMCR firms.