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You are viewing the version of the document as on 2023-04-21.

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    2023-04-21

SYSC 22.4 Drafting the reference: detailed requirements

Drafting the reference: detailed requirements for SMCR firms

SYSC 22.4.1GRP

1SYSC 22 Annex 1R (Template for regulatory references given by SMCR firms2 and disclosure requirements) has two purposes:

  1. (1)

    to set out what information a firm3 should disclose under SYSC 22.2.2R(4); and

    2
  2. (2)

    to provide a template that a firm3 should use when giving a reference under this chapter.

    2

How to draft the reference

SYSC 22.4.2RRP
  1. (1)

    A firm3 must use the template in Part One of SYSC 22 Annex 1R (Template for regulatory references given by SMCR firms2 and disclosure requirements) when giving a reference under this chapter to another firm (A).

    2
  2. (2)

    A firm may make minor changes to the format of the template in Part One of SYSC 22 Annex 1R when giving a reference under this chapter, provided that the reference includes all the information required by SYSC 22 Annex 1R.

  3. (3)

    This rule applies even if A is not an SMCR firm2.

SYSC 22.4.3GRP
  1. (1)

    [deleted] [Editor’s note: The text of this provision has been moved to SYSC 22.4.6G(1)]3

    2
  2. (2)

    [deleted] [Editor’s note: The text of this provision has been moved to SYSC 22.4.6G(2)]3

    2
  3. (3)

    [deleted] [Editor’s note: The text of this provision has been moved to SYSC 22.4.6G(3)]3

SYSC 22.4.4GRP

A firm3 should use the template in SYSC 22 Annex 1R (Template for regulatory references given by SMCR firms2 and disclosure requirements) even if the firm asking for the reference does not specifically ask it to.

2

PRA requirements

SYSC 22.4.5RRP

B may combine in a single reference what the PRA’s rules require and what this chapter requires.

Inclusion of additional material

SYSC 22.4.6G
  1. (-1)

    3This chapter sets out minimum requirements for a reference. It does not prevent a firm from including more than is required by this chapter.

  2. (1)

    Therefore3 SYSC 22.4.2R does not stop a3 firm including matters in the reference not required by the template in SYSC 22 Annex 1R.

  3. (2)

    A3 firm may include the material required by the template and additional material in the same document.

  4. (3)

    Any additional material should not alter the scope of any of the questions in the templates.

SYSC 22.4.7G

3If a firm does disclose more than is required by this chapter the reference should still meet its duties under general law to its former employee and the recipient (see SYSC 22.5.3G to SYSC 22.5.5G).

Time limits

SYSC 22.4.8G

3Nothing in this chapter prevents a firm from disclosing material outside the time limits under this chapter.