What is a Core Firm?

With six new Senior Management Functions (SMF) and five new Prescribed Responsibilities, as a Core Firm your obligations are significant.

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.

What is a Core Firm?

With six new Senior Management Functions (SMF) and five new Prescribed Responsibilities, as a Core Firm your obligations are significant.

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.