Content Options:

Add to favourites

View Options:

More Resources:

External link Handbook Publications

You are viewing the version of the document as on 2021-01-28.

employee

  1. (1) (for all purposes except those in (2), (3),114 (4) and (4A114) 105) an individual:
    1. (a) who is employed or appointed by a person in connection with that person's business, whether under a contract of service or for services or otherwise; or
    2. (b) whose services, under an arrangement between that person and a third party, are placed at the disposal and under the control of that person;
    but excluding an appointed representative or a tied agent46 of that person.
  2. (2) (for the purposes of:an individual:410
    1. (a)4646and COBS 11.7A119 (Personal account dealing);
    2. (aa) GEN 4 (Statutory status disclosure);
    3. (ab) GEN 6.1 (Payment of financial penalties);67
    4. (b) SUP 12 (Appointed representatives); and
    5. (c) TC)
      1. (i) within (1); or
      2. (ii) who is:
        1. (A) an appointed representative or, where applicable, a tied agent46 of the person referred to in (1); or
        2. (B) employed or appointed by an appointed representative or, where applicable, a tied agent46 of that person, whether under a contract of service or for services or otherwise, in connection with the business of the appointed representative or tied agent46 for which that person has accepted responsibility.
    an individual:410
  3. (3) (for the purposes of SYSC 27 (Senior management and certification regime:130 Certification regime) and the definition of certification employee) has the meaning in section 63E(9) of the Act (Certification of employees by 130authorised persons) which, in summary, says an employee of a person (the “employer”114) includes a reference to a person who:105
    1. (a) personally provides, or is under an obligation personally to provide, services to the employer114 under an arrangement made between the employer114 and the person providing the services or another person, and105
    2. (b) is subject to (or to the right of) supervision, direction or control by the employer114 as to the manner in which those services are provided.105
  4. (4) (for the purposes of SUP 15.11 (Notification of conduct rule breaches and disciplinary action)115 and COCON) has the meaning in section 64A(6) of the Act (Rules of conduct) which, in summary, says an employee of a person (the ‘employer’) includes a reference to a person who:105
    1. (a) personally provides, or is under an obligation personally to provide, services to the employer under an arrangement made between the employer and the person providing the services or another person; and105
    2. (b) is subject to (or to the right of) supervision, direction or control by the employer as to the manner in which those services are provided.105
  5. However, where a Handbook provision in (4) refers to certification employees, (3) still applies to the definition of certification employee.105
  6. 114(4A) (for the purposes of SYSC 22 (Regulatory references)) has the same meaning as in (3) and, in addition, includes a person who:
    1. (a) is an approved person or director of another person (the “employer”); or
    2. (b) performs a function of another person (the “employer”) under an arrangement entered into by the employer or a contractor of the employer; or
    3. (c) performs any service or function for another person (the “employer”) in their capacity as an employee of another member of the employer’s group. For the purpose of (c) an employee of another member of the employer’s group means:
      1. (i) an employee of that group member as defined in paragraph (3); or
      2. (ii) an approved person or director of that group member; or
      3. (iii) a person who performs a function of that group member under an arrangement entered into by the group member or a contractor of the group member; or142
    4. 142(d) is a board director of a person (the “employer”) who is not an SMF manager or certification employee of the employer.
  7. (5) for the purposes of (1) to (4A)114, “employment” is to be construed accordingly.118