SUP 10C.16 References and accurate information

1. (1)

   1SYSC 22 (Regulatory references) says that if1 a firm (A):

   1
   1. (a)

      is considering appointing a person (P)1 to perform any1 controlled function or certain other functions1;

   2. (b)

      requests a reference from a firm (B) that is P’s1 current or former employer1; and

   3. (c)

      indicates to B the purpose of the request;

   B should1, as soon as reasonably practicable, give a reference1 to A1

2. (2)

   This applies even if A is a firm to which SUP 10A (FCA Approved Persons) applies rather than this chapter.1

   1

SYSC 22 also requires firms to get a reference before applying to have someone approved as an approved person.1

1. (1)

   The obligations to supply information to:

   1. (a)

      the FCA under this chapter;

   2. (b)

      [deleted]1

   apply notwithstanding any:

   1. (c)

      agreement (for example a 'COT 3' Agreement settled by the Advisory, Conciliation and Arbitration Service (ACAS)); or

   2. (d)

      any other arrangements entered into by a firm and an employee upon termination of the employee’s employment.

2. (2)

   A firm should not enter into any such arrangements or agreements that could conflict with its obligations under this chapter.

Failing to disclose relevant information to the FCA may be a criminal offence under section 398 of the Act.