SYSC 25.2 Management responsibilities maps: Main rules

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.)

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.

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.

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