SUP 10.4 Specification of functions

SUP 10.4.1R01/12/2002

Each of the functions described in SUP 10.4.5 R (the table of controlled functions) is a controlled function.

SUP 10.4.2G01/12/2002

SUP 10.4.1 R, together with the table of controlled functions in SUP 10.4.5 R, specifies, in brief terms, the descriptions of the controlled functions. Other rules in this chapter contain the detail of the description for each function. Further rules in this chapter contain provisions which will apply to each description as indicated in those rules: see in particular 1SUP 10.1 for the application provisions.

SUP 10.4.3G01/12/2002

The fact that a person may be approved for one purpose does not have the effect of bringing all his activities within that controlled function.

SUP 10.4.4G21/06/2001

Certain controlled functions expressly include other controlled functions: see SUP 10.6.2 R in relation to governing functions; SUP 10.10.7 R in relation to the investment adviser function; and SUP 10.10.20 R in relation to the investment management function. In view of broad descriptions of the significant management functions (CF16 to CF20), these are expressed so as not to include other controlled functions.

SUP 10.4.5R01/02/2007

Controlled functions

Type	CF	Description of controlled function
Governing functions*	1	Director function
	2	Non-executive director function
	3	Chief executive function
	4	Partner function
	5	Director of unincorporated association function
	6	Small friendly society function
	5	[deleted]5 5
Required functions*	8	Apportionment and oversight function
	9	EEA investment business oversight function
	10	Compliance oversight function
	11	Money laundering reporting function
	12	Actuarial function 3 3
	12A3	With-profits actuary function 3
	12B2	Lloyd's actuary function 2
Systems and controls functions*	13	Finance function
	14	Risk assessment function
	15	Internal audit function
Significant management function*	16	Significant management (designated investment business) function
	17	Significant management (other business operations) function
	18	Significant management (insurance underwriting) function
	19	Significant management (financial resources) function
	20	Significant management (settlements) function
Customer functions	21	Investment adviser function
	22	Investment adviser (trainee) function
	23	Corporate finance adviser function
	24	Pension transfer specialist function
	25	Adviser on syndicate participation at Lloyd's function
	26	Customer trading function
	27	Investment management function
*significant influence functions

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SUP 10.4 Specification of functions

Controlled functions