• GEN 5.4.7 GEN 5.4.7

    The Senior Manager function is carried out by an individual who is responsible either alone or jointly with other individuals for the management, supervision or control of one or more parts of an Authorised Person's Regulated Activities who is:

    (a) an Employee of the Authorised Person; and
    (b) not a Director or Partner of the Authorised Person.

    • Guidance

      In respect of a Fund, the Regulator would expect the Fund Manager to appoint at least one individual other than the Senior Executive Officer to carry out Senior Manager functions in relation to the Fund such as managing operational risk and other internal controls.