Don't be satisfied with an ad-hoc solution!
Do you have confidence that your solution is robust enough to meet the rigorous demands of SMR? Only Insight SMR has been designed and built specifically to meet and exceed the requirements of SMR and CERT, giving you complete confidence that your regulatory obligations are met with accuracy and efficiency, providing maximum protection at a low cost.
Redland's Insight SMR solution provides complete confidence of a cost effective and compliant approach to the obligations of SMR and SIMR, now and in the future.
The deadline for Responsibilities Map and Statements of Responsibility passed in 2016 and the FCA Register now shows Senior Managers from 7th March 2016, whilst the deadline for issuing Certificates under CERT Regime is 7th March 2017.
The SMR replaces the Significant Influence Function (SIF) element of the current Approved Persons Regime (APER), although it is intended to cover a narrower range of people.
The SMR specifies a ‘function’ as a Senior Management Function (SMF), all relevant firms must then appoint an individual to be responsible for that function. These individuals must apply for approval from FCA before taking on the role.
The regime encompasses ‘the Board plus the Executive Committee i.e. the top two layers of governance’.
What tools are your firm going to use to manage this new requirement? Excel? Word? A white board and a filing cabinet?
Redland believe that these ongoing requirements necessitate a dedicated application specifically designed to address the issues - Insight SM&CR.
Redland’s Insight SMR solution supports the creation and ongoing maintenance of your firm’s Responsibility Maps. Insight offers complete support for the building, distribution, sign‐off, reporting and audit processes.
Click here for more information about Insight SM&CR