Mandatory Procedures

The Approved Persons regime (which included CF3 and CF8) disappeared last year and in it’s place we now have the Senior Managers and Certification Regime which has Senior Manager Functions, the most important of which are the SMF1, SMF3, SMF9, SMF16 and SMF17.  These are the CEO (1), Exec Director (3), Chair (9), Comp Oversight (16) and MLRO (17) roles.