SIFA 7.9 Record Keeping Requirements: Apportionment Of Responsibilities
Frequently, firms give their chief executive the function of apportioning responsibilities and overseeing the establishment and maintenance of systems and controls (SYSC 2.1).
You must keep an up-to-date record of how responsibilities have been apportioned between directors and senior managers (SYSC 2.2.1 R). This may take the form, for example, of an organisation chart or diagram (SYSC 2.2.2 G).
The following sections of the Guide are also relevant: |
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'Authorisation'- Chapter 6 |
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'Notifications' - Chapter 12.2 |
If you do mortgage or general insurance business you should also refer to MIGI 6. |
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