With six new Significant Management Functions (SMF) and five new prescribed responsibilities, initially you will see quite an upheaval to the established way your firm has being doing things.
Firms first priority will be to identify which staff members will fall into the new senior managers regime and also the certification regime. You must then create a new statement of responsibilities document for your SMFs, as well as consider what needs to be done to ‘map’ Significant Influence Functions onto the new SMFs. In addition to this you must then consider your new annual training obligations. Scroll down for our options for Core Firms.
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