SUP 10C.4 1Specification of functions

SUP 10C.4.1R07/03/2016

(1)
Each function described in SUP 10C.4.3R is an FCA controlled function.
(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.

SUP 10C.4.2R10/12/2018

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.4

SUP 10C.4.3R09/12/2019

Table of FCA-designated senior management functions for SMCR firms4

4Type	SMF	Description of FCA controlled function
FCA governing functions	SMF 15	Chief executive function 5
	SMF 3	Executive director function
	SMF 7 5	Group entity senior manager function 5
	SMF 9 5	Chair of the governing body function 5
	SMF 10 5	Chair of the risk committee function 5
	SMF 11 5	Chair of the audit committee function 5
	SMF 12 5	Chair of the remuneration committee function 5
	SMF 13	Chair of the nomination committee function
	SMF 14 5	Senior independent director function 5
	SMF 15	Chair of the with-profits committee function
	SMF 19	Head of third country branch function
	SMF 27	Partner function
FCA required functions	SMF 16	Compliance oversight function
	SMF 17	Money laundering reporting function
	SMF 18	Other overall responsibility function
	SMF22	Other local responsibility function
	SMF 23b	Conduct risk oversight (Lloyd’s) function
	SMF 29 5	Limited scope function 5
Other high-level management functions	SMF 21	EEA branch senior manager function
5Systems and controls functions	SMF 2	Chief finance officer function
	SMF 4	Chief risk officer function
	SMF 5	Head of internal audit function
	SMF 24	Chief operations function

SUP 10C.4.4G07/12/2020

As described in SUP 10C.1.7R to SUP 10C.1.8G (Appointed representatives), SUP 10A (FCA Approved Persons in Appointed Representatives)6 specifies certain other controlled functions for SMCR firms 4.

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