We have created a guide is to assist those adding staff members holding an SM&CR certification function (directory persons) to the Financial Services (FS) Register.
The Certification Regime covers those individuals whose roles pose a risk of significant harm to customers, the firm and markets. This Includes roles such as retail investment advisers (formally CF30 function), pension transfer specialists, investment managers, mortgage advisers and long term care advisers. These individuals will not be pre-approved by the FCA but must be certified as fit and proper by their firm before taking on a role subject to the Certification Regime, as well as on an annual basis and whenever a material change occurs to their role.
It also covers any person dealing with clients, including advising and arranging investments, acting as an investment manager and all functions connected with this. Anyone who supervises or manages a Certification Function (directly or indirectly) but is not a senior manager.
If a Senior Manager performs a Certification Function and it isn’t related to their senior management function, they will also need to be certified. For example, a Director who also provides investment advice will need to be certified to undertake the investment advice. The two roles involve different competencies and requirements.
FCA Connect can be difficult to navigate. In this guide we cover the key areas, options and obstacles, explaining how to submit a directory persons data via the FCA notification form, and via the file upload facility, and how to amend an existing directory persons information.
To request a copy of this guide, please email firstname.lastname@example.org