SMF3 Best Practice Areas: Compliance & Personal Accountability for Executive Directors

Introduction

The Executive Director function (SMF3) carries substantial personal accountability under SMCR. Unlike the CEO who has overall responsibility for the firm, Executive Directors are accountable for specific business areas allocated to them.

Recent FCA enforcement shows that Executive Directors cannot rely on delegation or collective board responsibility to avoid personal liability. The Duty of Responsibility means that if a breach occurs within your area, you must demonstrate you took reasonable steps to prevent it.

This webinar supports current Executive Directors and those aspiring to the role. It focuses on key skills and practical approaches rather than detailed regulatory requirements.

What You Will Learn

This short webinar will cover the following:

• Explain what personal accountability means for SMF3 holders and assess whether their Statement of Responsibilities accurately reflects their duties
• Apply effective delegation and oversight practices that maintain accountability without mi-cromanagement
• Identify the key regulatory expectations for holders of the SMF3
• Take immediate practical steps to build a defensible evidence file and know when to seek advice

This pre-recorded webinar will be available to view from Friday 25th September 2026

Alternatively, you can gain access to this webinar and 2,300+ others via the MBL Webinar Subscription. Please email webinarsubscription@mblseminars.com for more details.