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04. Quick-start guide

First steps

So that you can get up and running quickly, and effectively discharge your compliance obligations under the Senior Manager and Certifcation Regime (SM&CR), we suggest the following steps:

  1. Set up your firm(s) as business entities – these are the FCA-registered businesses you are managing that are subject to SM&CR.
  2. Create a “Firm Information” dataset for the firm which has been created as a ‘Business’ under ‘Entities’.
  3. Input all relevant information about the firm into the “Firm Information” dataset. As a minimum, in order to produce Statements of Responsibilities, it will be necessary to have the following information:
    1. Name of firm
    2. Firm Reference Number
    3. Firm classification (‘Limited-Scope’, ‘Core’, ‘Enhanced’ etc.)
  4. Set up each member of staff under ‘People’ in ‘Entities’.
  5. Create a “Staff Information” dataset for each member of staff created under ‘People’ in ‘Entities’.
  6. Input all relevant detail for each individual. As the minimum necessary in order to produce a Statement of Responsibilities, it will be necessary to input the following data (about staff members who are Senior Managers):
    1. Title (Mr, Mrs etc.)
    2. All forenames
    3. Surname
    4. Date of Birth
    5. Job Title
    6. Individual Reference Number
    7. National Insurance Number
  7. Create a “Statement of Responsibilities” dataset for each Senior Manager. In order to complete a “Statement of Responsibilities” you will require the following information:
    1. Senior Management Functions held
    2. Prescribed Responsibilities held
    3. Overall Responsibilities held (‘Enhanced’ firms only)
    4. Other Responsibilities held
    5. Supplementary Information

Once all of these details have been entered, you and your team will be able to begin managing your firm and your people under SM&CR

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