Additional Oversight - created from Mind Map

Senior Management

Compliance Support Services

Accountants

Auditors

Trustees

- FCA expects them to ensure they have appropriate procedures to prevent, identify, and address any risks to the firm and its customers

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Senior Management provide leadership (make fair treatment of customers central to behaviour and values of the firm) align business decisions and priorities with Treating Customers Fairly (TCF) principle and six underlying TCF consumer outcomes desired by FCA ensure controls are in place and being used oversee recruitment, training, and competence, and reward structure to ensure TCF is an important part of staff behaviour & development

Systems and controls should cover: reporting lines and how responsibilities are delegated compliance function assessment of risks management information assessing honesty & competence of staff monitoring systems & controls development & implementation of business & remuneration strategy business continuity in event of disaster or loss of key personnel record keeping

Additional Oversight

Annotations

Notes