SUP 10A Annex 8 Form E: Internal transfer of an approved person

8This annex consists only of one or more forms. Note that there are separate forms for Solvency II firms, large and small non-directive insurers3 and other firms. Swiss general insurers must use the form for large non-directive insurers not the form for Solvency II firms.3 It also includes the scope of responsibilities form which must be included as an attachment to Form E in certain cases. Forms are to be found through the following address: Supervision forms - SUP 10A Annex 8

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Scope of responsibilities form can be found at SUP 10A Annex 4D.1

Form E for firms which are not Solvency II firms (including large non-directive insurers) or small non-directive insurers (and are not Relevant Authorised persons):8

Form E for firms which are not Solvency II firms (including large non-directive insurers) or small non-directive insurers8

GUIDANCE NOTES: INTERNAL TRANSFER OF AN APPROVED PERSON5

5PLEASE NOTE: A CANDIDATE MUST NOT BEGIN PERFORMING ANY CONTROLLED FUNCTIONS UNTIL THE FCA AND/OR PRA HAS GRANTED APPROVAL.

Full details of the approved persons regime including the Senior Managers Regime and the Senior Insurance Managers Regime can be found in SUP 10A and SUP 10C of the FCA Handbook and the Parts relating to the Senior Managers Regime and Senior Insurance Managers Regime in the PRA Rulebook (these include the Insurance – Senior Insurance Management Functions, Insurance – Fitness and Propriety, Insurance – Allocation of Responsibilities and Insurance – Conduct Standards parts of the PRA Rulebook). Firms should also refer for further information to the PRA supervisory statements - SS 28/15 for deposit takers, and SS 35/15 for insurers.

The purpose of this Form

This is Form E referred to in:

• SUP 10A and SUP 10C in the FCA Handbook;

• the Senior Managers Regime – Applications and Notifications Part of the PRA Rulebook; and

• the relevant “Senior Insurance Managers Regime – Applications and Notifications” Parts in the “Solvency II firms” and “Non-Solvency II Firms” sectors of the PRA Rulebook.

A firm should use Form E when an approved person ceases to perform one or more controlled functions and the firm wishes to apply for approval for the individual in respect of other controlled functions. Form E should not be used for a qualified withdrawal (see SUP 10A.14.10R and SUP 10C.14.7R in the FCA Handbook, Chapter 5 of Senior Management Regime – Applications and Notifications and Chapter 4.2 of Solvency II firms: Senior Insurance Managers Regime – Applications and Notifications in the PRA Rulebook). Form E may also be used for transfers between firms that are part of the same group:

Form E should not be used in the circumstances set out in SUP 10A.14.4D(2)-(3) or SUP 10C.10.9D(2)-(4) of the FCA Handbook; or Senior Managers Regime – Applications and Notifications 2.4 & 2.5 or Senior Insurance Managers Regime - Applications and Notifications 2.4 & 2.5 of the PRA Rulebook.

Form C must be used if the individual is ceasing to perform a controlled function and the firm is not seeking approval in respect of another controlled function.

Form A must be completed in full if the approved person is seeking approval in respect of a controlled function including a senior management function or senior insurance management function for the first time.

Completing this Form

If in manuscript, Form E must be completed in black ink and in BLOCK LETTERS.

All dates should be provided in numeric form (e.g. 29/02/2000 for 29 February 2000).

Indicate clearly if a question is not applicable. Tick the appropriate box where a yes/no answer is required. Further details should be given in section 5 (Supplementary Information) if there is insufficient space for a detailed answer.

Additional information can be attached to the Form. It must be securely attached to the rest of the Form and you must indicate at question 5.02 the number of additional sheets attached.

Do not assume that information is known to the FCA and/or PRA merely because it is in the public domain, or has been previously disclosed to the FCA and/or PRA or to another regulatory body. In all circumstances, disclosures should be full, frank and unambiguous. The information supplied by the candidate should be verified by the firm wherever possible. Should the FCA and/or PRA vetting checks reveal any matters that have not been disclosed, then applications will be delayed and, in some cases, possibly rejected. See SUP 10A.13.12G and SUP 10C.10.30G of the FCA Handbook.

Expressions in Form E in italics have the meaning given in the Glossary to the FCA Handbook (or, if no meaning is given there, the expressions are to be interpreted in accordance with the related expression defined in the Glossary).

The firm is responsible for the completion of Form E. If Form E is not fully and correctly completed, the FCA and/or PRA may need to return it for proper completion. This could significantly delay the FCA and/or PRA’s decision on whether to grant approval to perform the requested controlled functions (see SUP 10A.13.12G and SUP 10C.10.30G of the FCA Handbook).

The FCA and/or PRA may require the applicant to provide further information at any time after receiving an application and before determining whether it is to be granted or not (see SUP 10A.13.14G, SUP 10B.11.13G and SUP 10C.10.28G in the FCA Handbook).

If a firm has provided, or has information that reasonably suggests that it may have provided, the FCA and/or PRA with information which was or has become false, misleading, incomplete or inaccurate, in a material particular, it must notify the FCA and/or PRA immediately (see SUP 15.6.4R in the FCA Handbook, Notification 6 in the PRA Rulebook and the equivalent Parts in the “Solvency II firms” and “Non-Solvency II Firms” sectors of the PRA Rulebook). Failure to notify the FCA and/or PRA may result in a delay in processing or rejection.

SECTION 4 – ARRANGEMENTS AND CONTROLLED FUNCTIONS

The firm must tick the box in 4.01 that most accurately describes its arrangement with the candidate. For applications from a single firm, the firm should complete 4.02, 4.03 & 4.04 indicating the controlled functions required by selecting the appropriate box in 4.02. However, if the application is being made on behalf of a candidate who will carry out controlled functions for more than one firm, 4.05 must be used to describe the controlled functions and the relationships between the candidate and those firms. For senior management functions, firms should use 4.04 in the relevant Form E.

1. 4.01 If this application relates to more than one appointed representative, provide details in section 5.

2. 4.02 If the controlled function 28 or 29 is requested, the specific job title of the candidate should be included.

3. 4.03 The effective date is the date on which the firm wishes the candidate to begin performing controlled functions (subject to approval). This should be left blank unless there is a reason for the effective date to be beyond the FCA and/or PRA published standard response times. For instance, a firm may wish to be sure that a candidate has been approved before they take up their post.

4. 4.04 Insurance distribution8

   This is not a controlled function in its own right. However, every firm that carries on insurance distribution activities8 must appoint an approved person(s) who will be responsible for insurance distribution activities8 at the firm (as detailed at MIPRU 2.2).8

   This responsibility must be allocated to a member of the governing body of the firm or in certain circumstances, a senior manager. (i.e. an individual that is applying for approval as CF1, 3-8 or 29).

   Where a firm has appointed an appointed representative to carry on insurance distribution activities8 on its behalf, the person responsible for the firm’s insurance distribution activities8 will also be responsible for the insurance distribution activities8 carried on by an appointed representative.

Unless the firm indicates otherwise, the FCA and/or PRA assumes that the arrangement given on the application form includes all of the activities that fall within the description of the controlled function. This means that a firm may alter a candidate’s responsibilities within the broad description of a controlled function without needing further approval from the FCA and/or PRA. However, they will be required to record this change on the scope/statement of responsibilities record (where applicable) that is maintained by the firm for each individual performing a controlled function.

SECTION 5 – SUPPLEMENTARY INFORMATION

This section provides extra space for any previous answer and for additional information relevant to this application.

The firm must include details of any other matter which the firm is aware of and which in its reasonable opinion is relevant in connection with the approved person ceasing to perform their controlled function. If there is insufficient space, additional sheets may be used.

SECTION 6 – DECLARATIONS AND SIGNATURES

This section contains declarations which must be signed by both an appropriate individual for the firm or applicant submitting the application and the candidate. The FCA and/or PRA considers that an appropriate individual would either be an individual approved [to perform a SIF, SMF or a PRA controlled function] or someone to whom the firm has delegated the authority to notify the FCA and/or PRA. If this authority has been delegated, the firm should keep records of those individuals authorised to sign on behalf of the firm.

N.B. Please keep these notes before returning the completed Form to the FCA and/or PRA.

If you have any questions or need additional information, please contact the FCA Customer Contact Centre on 0300 500 0597 or PRA Firm Enquiries on 020 3461 7000 or e-mail iva@fca.org.uk or PRA.firmenquiries@bankofengland.co.uk.

PLEASE RETURN THE COMPLETED FORM TO: