Individual requirements
- - Senior Manager Function approval where a controlled function applies
- - Certification for relevant staff under SM&CR where applicable
- - Conduct Rules training and fit and proper assessment
- - Clear allocation of responsibility for compliance, money laundering reporting, and operations
People evidence to prepare
- - Role description matched to regulated activities and reporting lines.
- - CV, regulatory history, disciplinary disclosures, exams, and competence evidence.
- - Authority, time commitment, location, backup, and conflict notes.
- - Supervision map showing how the individual controls or escalates regulated work.
- - Public-register verification plan after approval or appointment.
Common bottlenecks
- - Permissions requested do not match the actual operating model
- - Financial forecasts are inconsistent with the applicant legal entity or prudential category
- - Weak governance, SM&CR ownership, or compliance monitoring
- - CASS, outsourcing, wind-down, and technology controls are not tailored to the firm