SUP 10A.4 Specification of functions

SUP 10A.4.1R01/04/2013

Each of the functions described in SUP 10A.4.4 R (the table of FCA controlled function) is an FCA controlled function.

SUP 10A.4.2R21/03/2016

Part 1 of the table of FCA controlled functions applies in relation to an FCA-authorised person. It also applies in relation to an appointed representative for the purposes of SUP 10A.1.15 R to SUP 10A.1.16BR4 (Appointed representatives) whether its principal is an FCA-authorised person or a PRA-authorised person. Part 2 applies in relation to a PRA-authorised person, except in relation to CBTL business.2

SUP 10A.4.2AG07/03/2016

6For the purposes of SUP 10A (and SYSC, APER, COCON and DEPP) a large non-directive insurer is treated as and included in the Glossary definition of a Solvency II firm. For large non-directive insurers, references to parts of the PRA Rulebook applicable to Solvency II Firms are to be read as references to the corresponding parts of the PRA Rulebook applying to large non directive insurers.

SUP 10A.4.3G01/04/2013

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

SUP 10A.4.4R07/03/2016

FCA controlled functions

Part 1 (FCA controlled functions for FCA-authorised persons and appointed representatives)
Type	CF	Description of FCA controlled function
FCA 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
FCA required functions*	8	Apportionment and oversight function
	10	Compliance oversight function
	10A	CASS operational oversight function
	11	Money laundering reporting function
	40	Benchmark submission function 1
	50	Benchmark administration function 1
Systems and controls function*	28	Systems and controls function
Significant management function*	29	Significant management function
Customer-dealing function 3 3	30	Customer function
*FCA significant-influence functions

Part 2 (FCA controlled functions for PRA-authorised persons) (See Note 1)
Type	CF	Description of FCA controlled function
4 FCA governing functions*	1	Director function (see Note 2)
	42a	Chair of the nomination committee function(See Note 2 36)
	42b	Chair of the with-profits committee function(See Note 2 36)
	63	Chief executive function (see Note 3A)
	45	Director of an unincorporated association function 5 (See Note 2 3B6)
	66	Small friendly society function (see Note 3C)
		6 4
	10	Compliance oversight function
	10A	CASS operational oversight function
	11	Money laundering reporting function
	40	Benchmark submission function 1
	50	Benchmark administration function 1
	451	Actuarial conduct function (third country) (see Note 4)
4 Systems and controls function*	28	Systems and control function (see Note 5)
Significant management function*	29	Significant management function
Customer-dealing function	30	Customer function
*FCA significant-influence functions
4Note 1: Part 2 of this table does not apply to appointed representatives of PRA-authorised persons, Part 1 applies instead. (See SUP 10A.4.2R.)
4Note 2: Solvency II firms (including large non-directive insurers) and small non-directive insurers 6.
Note 3: Solvency II firms (including large non-directive insurers) only.6 4
6Note 3A: small non-directive insurers only.
6Note 3B: Solvency II firms (including large non-directive insurers) and small non-directive insurers.
6Note 3C: small non-directive insurers and large non-directive insurers only.
4Note 4: Third country insurance or reinsurance undertakings which are Solvency II firms only.
4Note 5: Only Solvency II firms that are: (a) third-country insurance or reinsurance undertakings; or (b) ISPVs.

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SUP 10A.4 Specification of functions