SYSC 27.6 Other exclusions
Single Market Directives
1Under section 63E(7) of the Act, this chapter does not apply to an arrangement which allows an employee to perform a function if the question of whether the employee is fit and proper to perform the function is reserved under any of the Single Market Directives or the auction regulation to an authority in a country or territory outside the United Kingdom.
Insolvency
1This chapter does not apply to a function performed by a person acting as:
- (1)
an insolvency practitioner under section 388 of the Insolvency Act 1986;
- (2)
a nominee in relation to a voluntary arrangement under Part I (Company Voluntary Arrangements) of the Insolvency Act 1986;
- (3)
an insolvency practitioner under article 3 of the Insolvency (Northern Ireland) Order 1989; or
- (4)
a nominee in relation to a voluntary arrangement under Part II (Company Voluntary Arrangements) of the Insolvency (Northern Ireland) Order 1989.
Non-executive directors
1A function performed by a non-executive director of a firm acting as such is not an FCA certification function for that firm.
Benchmarks
1This chapter does not apply to a firm in relation to benchmark activities.
Overall responsibility
1Performing any of the following is not an FCA certification function:
- (1)
a responsibility allocated to an SMF manager under SYSC 26.3 (Main rules); or
- (2)
a responsibility allocated to someone under SYSC 26.4.6R (Exclusion where the 12-week rule applies).
2SYSC 27.6.6R does not apply to having overall or local responsibility for the SMCR legal function.
Administrators
2A function in paragraph (A) of row (6) of the table in COCON 1.1.2R (Table: To whom does COCON apply?) is not an FCA certification function.