On 8 March 2019 the FCA published Finalised Guidance 19/2: Senior Managers and Certification Regime: Guidance on statements of responsibilities and responsibilities maps for FCA firms (FG19/2). The purpose of FG19/2 is to give FCA solo regulated firms practical assistance and information on preparing the statement of responsibilities and responsibilities maps. FG19/2 is ‘general guidance’ as per s139B(5) of the Financial Services and Markets Act 2000, and is not binding on firms, however the guidance provided should be applied in a risk-based and proportionate way.
FG19/2 sets out the purpose of statements of responsibilities and responsibilities maps, provides some questions for firms to ask themselves and outlines examples of good and poor practice. It is designed to be read alongside the guide for FCA solo-regulated firms as well as applicable rules and guidance in the FCA Handbook.