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SYSC 18.1 Application and purpose24

Application2

SYSC 18.1.1G

[deleted]2

1
SYSC 18.1.1ARRP

2This chapter applies to:

  1. (1)

    a firm;

  2. (2)

    in relation to the guidance4 in SYSC 18.3.9G, 4every firm; and 4

  3. (3)

    in relation to SYSC 18.3.6R and SYSC 18.3.10R, EEA relevant authorised persons and third-country relevant authorised persons only in relation to a branch maintained by them in the United Kingdom.4

SYSC 18.1.1AAGRP

2Firms are reminded that for the purpose of SYSC 18 (except for SYSC 18.3.9G) “firm” has the specific meaning set out in paragraph (8) of that definition in the Glossary, namely:

  1. "(a) a UK relevant authorised person 3 except a small deposit taker; and

  2. (b)

    a firm as referred to in Chapter 1.1 of the PRA Rulebook: Solvency II Firms: Whistleblowing Instrument 2015.”

SYSC 18.1.1BRRP

2In this chapter, a reference to a provision of the Employment Rights Act 1996 includes a reference to the corresponding provision of the Employment Rights (Northern Ireland) Order 1996.

SYSC 18.1.1CGRP

2A firm not referred to in SYSC 18.1.1AR may adopt the rules and guidance in this chapter as best practice. If so, it may tailor its approach in a manner that reflects its size, structure and headcount.

Purpose

SYSC 18.1.2GRP
  1. (1)

    The purposes of this chapter are to2:

    1. (a)

      set out the requirements on firms in relation to the adoption, and communication to UK-based employees, of appropriate internal procedures for handling reportable concerns made by whistleblowers as part of an effective risk management system (SYSC 18.3);2

    2. (b)

      set out the role of the whistleblowers’ champion (SYSC 18.4);2

    3. (c)

      require firms to ensure that settlement agreements expressly state that workers may make protected disclosures (SYSC 18.5) and do not include warranties related to protected disclosures;2

    4. (d)

      outline best practice for firms which are not required to apply the measures set out in this chapter but which wish to do so; and2

    5. (e)

      outline the link between effective whistleblowing measures and fitness and propriety.2

  2. (2)

    [deleted]2

SYSC 18.1.3G

[deleted]2