MIFID investment firms will need to use a new form to notify FCA of management body changes for Non-SMF Directors

Dec 2nd '19

From 9 December 2019, MIFID investment firms and optional exempt firms will need to use a new form to submit information to the Financial Conduct Authority (FCA) when appointing Non-SMF Directors to, or withdrawing them from, their management body.

You can currently preview the form, and it will be available to download from the Handbook from 9 December 2019.

If a firm’s management body changes, they will need to download the form, complete it and email it to NonSMFNotification@fca.org.uk. This is a temporary process. From Q1 2020, you will be able to submit the form via Connect, the FCA’s online platform.

Any firms who don’t currently have access to Connect should prepare by registering now.

The FCA consulted on these changes in June 2019 and published final rules in September 2019.

Source: FCA