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controlled function

a function, relating to the carrying on of a regulated activity by a firm, which is specified by:178

  1. (a) either the FCA in:178
    1. (i) (for relevant authorised persons) the tables in SUP 10C.4.3R (Table of 182FCA-designated senior management 182functions for relevant authorised persons); or178
    2. (ii) (for other firms) the table of FCA controlled functions; or178
  2. (b) the PRA in:178
    1. (i) (for relevant authorised persons) the part of the PRA's rulebook titled ‘Senior Management Functions’, which specifies controlled functions);178
    2. (ii) 182(for Solvency II firms including large non-directive insurers, and for small non-directive insurers186) the Senior Insurance Management Functions parts of the186 PRA Rulebook: 182applicable to Solvency II Firms and Non-Solvency II Firms; or186178
    3. (iii) 186; or182

under section 59 of the Act (Approval for particular arrangements).178