Services / SMF16 & SMF17 Support
Compliance capacity
SMF16 & compliance support
Experienced compliance capability for FCA-regulated firms — from retained and fractional capacity to acting in SMF16 (Compliance Oversight) where appropriate, agreed and subject to applicable regulatory requirements.
Areas of support
What support can include
Scope is agreed with each firm; the items below are illustrative rather than a fixed package.
- Compliance capacity for firms between hires or needing additional bandwidth
- Interim, fractional or embedded support, scaled to the firm’s needs
- Support relating to SMF16 (Compliance Oversight), where appropriate and agreed
- Compliance input alongside related functions such as SMF17 (MLRO), within agreed scope
- Compliance oversight input into governance and senior management arrangements
- An experienced point of contact and clear escalation routes for emerging issues
- Hand-over, mentoring and transition support when an internal appointment is made
When firms engage this support
Experienced capability, when it is needed
SMF16 and experienced compliance support is available for firms that need experienced compliance capability — whether because of growth, transition, absence, restructuring, FCA engagement or a gap between permanent hires.
The aim is to give a regulated firm experienced compliance oversight it can rely on, properly scoped and integrated with its governance, for as long as it is needed.
- GrowthScaling compliance capability as the business and its permissions expand.
- Transition or absenceContinuity of experienced oversight during change or temporary gaps.
- RestructuringExperienced compliance input through reorganisation or change of control.
- FCA engagementExperienced capacity ahead of applications, reviews or supervisory contact.
- Between hiresCover and continuity while a permanent senior appointment is made.
Ongoing compliance support
Retained compliance advisory
Many firms engage Bishopsgate Vector on a retained basis — regular, ongoing access to experienced compliance judgement, monitoring, governance input and regulatory implementation support, with a clear escalation route and an experienced point of contact for emerging issues.
Retained support can sit alongside an in-house team or provide the compliance oversight layer for a smaller firm, scoped and priced proportionately.
- An experienced point of contact for day-to-day compliance questions
- Regular monitoring and governance input
- Horizon-scanning and regulatory change support
- Board and committee reporting
- Defined response and escalation arrangements
A note on SMF17 / MLRO support
SMF17 / MLRO support is considered separately from SMF16 support, and only where the firm’s financial crime risk profile, operating model, reporting lines, information access and escalation arrangements are suitable. Any SMF17 arrangement is subject to separate scope, agreement, applicable regulatory requirements and FCA approval where required.
How it works
A clear, structured process
Assess suitability and scope
We discuss the firm’s permissions, structure and needs to determine whether and how experienced compliance support — including any SMF arrangement — is appropriate.
Agree the arrangement
Role scope, responsibilities, reporting lines and regulatory requirements are documented. Any SMF appointment is subject to the firm’s agreement and FCA approval where required.
Deliver experienced involvement
Ongoing compliance oversight, judgement and practical input, integrated with the firm’s governance.
Review and transition
Regular review of the arrangement, with clear hand-over if responsibilities move in-house.
Scope & regulatory boundaries
Bishopsgate Vector is not authorised or regulated by the Financial Conduct Authority. It does not provide investment advice, manage investments, arrange investments or hold client money.
Where support relates to a Senior Management Function, including SMF16 (Compliance Oversight), any arrangement is subject to appropriate client agreement, defined role scope, applicable regulatory requirements and FCA approval where required. Client firms remain responsible for their own regulatory obligations.
Next step
Arrange an introductory discussion
A short, confidential conversation to understand your firm, your regulatory context and where experienced compliance support would add value.