CDK inhibitor and nuclear anchor; during the cell cycle Far1p sequesters the GEF Cdc24p in the nucleus; phosphorylation by Cdc28p-Cln results in SCFCdc4 complex-mediated ubiquitin-dependent degradation, releasing Cdc24p for export and activation of GTPase Cdc42p; in response to pheromone, phosphorylation of Far1p by MAPK Fus3p results in association with, and inhibition of Cdc28p-Cln, as well as Msn5p mediated nuclear export of Far1p-Cdc24p, targeting Cdc24p to polarity sites