Step 01 / Find your category

Who is responsible for what, written down and checked.

Choose your SM&CR category: limited scope, core or enhanced. The category changes what you must record, so each edition covers only what applies to it.

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What kind of firm are you?

You can change your selection at any point.

3 sector editions + generic

Limited scope firmsFirms with limited-type business, such as some insurance distributors and limited-permission consumer credit firmsCore firmsMost solo-regulated FCA firms: the baseline SM&CR requirementsEnhanced scope firmsLarger or more complex firms that meet the enhanced scope tests, with a management responsibilities mapOther or not listedNot sure of your category yet: choose it inside the workbook

Not sure which applies? Choose the closest fit.

View worked example

These are examples to adapt, not a determination of your SM&CR category or obligations. Dual-regulated (PRA) firms are out of scope. Payment and e-money institutions are not SM&CR firms, and firms registered only under the Money Laundering Regulations are outside it too.

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Enhanced scope firms

An illustrative status view, generated from this edition's worked example.

Excel + Word + PDF guide

17
SMF functions: 13
Prescribed responsibilities: 5
Files in the pack

Illustrative board headline

SMF managers without FCA approval: 1

Philippa NwosuSMF14 Senior independent director + SMF12 Chair of the remuneration committeeDue soon
Daniel KesslerSMF3 Executive directorNot recorded

9 invented SMF managers, 6 certification employees, 11 prescribed responsibilities allocated.

Example content for an invented firm, not your firm's results. Scope: An enhanced scope firm has everything a core firm has, plus a management responsibilities map (SYSC 25), overall responsibility for each activity, business area and management function (SYSC 26) and handover procedures (SYSC 25.9).

Solo-regulated firms only. This pack is for firms regulated by the FCA alone. Dual-regulated firms, which the PRA also authorises, follow different rules and are out of scope.

Payment and e-money firms. The FCA says that if your firm is only registered for payment services or issuing electronic money you will not fall under the SM&CR regime. Firms registered only under the Money Laundering Regulations, such as cryptoasset businesses, are not FSMA-authorised and so are outside the regime too. Neither needs this pack unless it also holds a Part 4A permission.

Not sure of your category? It depends on tests in SYSC 23 Annex 1, and the FCA can move a firm up to enhanced scope. Read our SM&CR guide or try the SM&CR tool.