Reset to Today

To access the FCA Handbook Archive choose a date between 1 January 2001 and 31 December 2004.

Content Options:

Add to favourites

View Options:

More Resources:

External link Handbook Publications

connected person

  1. (1) (in relation to the FSA's consideration of an application for, or of whether to vary or cancel, a Part IV permission ) (in accordance with section 49(1)of the Act (Persons connected with an applicant)) any person appearing to the FSA to be, or likely to be, in a relationship with the applicant or person given permission, which is relevant.
  2. (2) (in relation to the FSA's power to gather information under section 165 of the Act (Authority's power to require information)) (in accordance with section 165(11) of the Act) a person who has, or has at any relevant time had, the following relationship withan authorised person ("A"):
    1. (a) he is a member of A's group;
    2. (b) he is a controller of A;
    3. (c) he is a member of a partnership of which A is a member;
    4. (d) he is or has been an employee of A;
    5. (e) if A is a body corporate, he is or has been an officer, or manager or agent of A or of a parent undertaking of A;
    6. (f) if A is a partnership, he is or has been a member, manager or agent of A;
    7. (g) if A is an unincorporated association of persons which is neither a partnership nor an unincorporated friendly society, he is or has been an officer, manager, or agent of A;
    8. (h) if A is a friendly society, he is or has been an officer or manager of A ("officer" and "manager" having the same meaning as in section 119(1) of the Friendly Societies Act 1992);
    9. (i) if A is a building society, he is or has been an officer of A ("officer" having the same meaning as in section 119(1) of the Building Societies Act 1986);
    10. (j) if A is an individual, he is or has been an agent of A.
  3. (3) (in relation to the FSA's powers of investigation under sections 171 and 172 of the Act (Powers of persons appointed under section 167; Additional power of persons appointed as a result of section 168(1) or (4))) (in accordance with section 171(4) of the Act) a person who has, or has at any relevant time had, the following relationship with a person under investigation ("P"):
    1. (a) he has the relationship specified in any of paragraphs (2) (a), (b) or (d) to (j) to P (where references in those paragraphs to A are taken to be references to P);
    2. (b) it is a partnership of which P is a member;
    3. (c) he is the partner, manager, employee, agent, appointed representative, or, where applicable, tied agent,67 banker, auditor, actuary or solicitor of:
      1. (i) P; or
      2. (ii) a parent undertaking of P; or
      3. (iii) a subsidiary undertaking of P; or
      4. (iv) a subsidiary undertaking of a parent undertaking of P; or
      5. (v) a parent undertaking of a subsidiary undertaking of P.3
  4. (4) to follow31
  5. (5) (in DTR and 64 31 LR 3164in relation to a person discharging managerial responsibilities within an issuer) (as defined in section 96B(2) of the Act): 29
    1. (a) a "connected person" within the meaning of section 346 of the Companies Act 1985(reading that sectionas if any reference to a director of a company were a reference to a person discharging managerial responsibilities within an issuer);
    2. (b) a relative of a person discharging managerial responsibilities within an issuer, who, on the date of the transaction in question has shared the same household as that person for at least 12 months;
    3. (c) a body corporate in which -
      1. (i) a person discharging managerial responsibilities within an issuer, or
      2. (ii) any person connected with him by virtue of subsection (a) or (b),
      is a director or a senior executive who has the power to make management decisions affecting the future development and business prospects of that body corporate.