Principle - Clear division of responsibilities

There should be a clear division of responsibilities at the head of the managing agent between the running of the board and the executive responsibility for the running of the managing agent’s business. No one individual should have unfettered powers of decision.

Toolkit

See also, the FSA’s Handbook - Senior Management Arrangements (SYSC 2)http://fsahandbook.info/FSA/html/handbook/SYSC/2/1
Last updated on 12 Jun 2008