Senior Management Arrangements Systems and Controls [Mutual]
The Senior Management Arrangements Systems and Controls (SYSC) Sourcebook apply to authorised financial services firms. It ensures the allocation of responsibility. Our Senior Management Arrangements Systems and Controls Course explains the responsibilities of senior managers as contained in the FCA Handbook.
- 25 Minutes
- For all staff
Learning objectives
- Explain the purpose of Senior Management Arrangements, Systems and Controls
- Identify how responsibilities are apportioned and recorded
- Describe the necessary systems and controls
- Summarise the general organisational requirements
- Recognise how the Public Interest Disclosure Act protects whistleblowers
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Conduct Rule 1: Act with Integrity
Integrity is a fundamental principle in financial services, ensuring ethical conduct and maintaining customer trust.
Conduct Rule 2: Act with due skill, care and diligence
People working in financial services must act with due skill, care and diligence, ensuring their actions do not harm customers or the financial system.
Conduct Rule 3: Be open and cooperative with the FCA, the PRA and other regulators
Financial services firms and employees must be open and cooperative with regulators, including the Financial Conduct Authority and the Prudential Regulation Authority.
Conduct Rule 4: Pay due regard to the interests of customers and treat them fairly
Financial services professionals must always act in the best interests of customers and ensure they are treated fairly.
Conduct Rule 5: Observe proper standards of market conduct
Financial markets rely on trust, integrity and adherence to established rules and ethical behaviour.
Conduct Rule 6: Act to deliver good outcomes for retail customers
Financial services professionals must act in good faith, prevent foreseeable harm and support customers in achieving their financial objectives.