APER 1.1A 7Application
Who?
1 APER applies to FCA-approved persons who are approved to perform a controlled function in SUP 10A (FCA Approved Persons in Appointed Representatives).5
3What?
-
(1)
1APER applies to the performance by an approved person of FCA controlled functions in SUP 10A (FCA Approved Persons in Appointed Representatives5) (whether or not approval has been sought and granted).3
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(2)
APER also applies to the performance by an approved person of any other functions in relation to the carrying on of a regulated activity by their authorised approved person employer.3
- (3)
Subject to (4), APER does not apply to conduct to which COCON applies.3
- (4)
APER applies to conduct to which COCON does not apply under COCON 1.1.8AR (To what conduct does it apply?).3
- (5)
APER does not apply to conduct unless it is within the scope of section 64A of the Act (Rules of conduct).5
The functions described in APER 1.1A.2R1are called accountable functions.
The relevance of MiFID to the Statements of Principle will depend on the extent to which the corresponding requirement imposed on firms under MiFID is reserved to a Home State regulator or has been disapplied under MiFID (see APER 2.1A.2R and FIT 1.2.4AG1. See also COBS 1 Annex 1, Part 2, 1.1R (EEA territorial scope rule: compatibility with European law)).
Where?
The territorial scope of the approved persons regime and its application to incoming EEA firms is set out in SUP 10A.1 (see SUP 10A.1.11R and SUP 10A.1.13R).
5Coverage of APER
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