Related provisions for APER 1.1A.3
Statements of Principle issued under section 64 of the Act
Statement of Principle 1 An approved person must act with integrity in carrying out his accountable functions. |
Statement of Principle 2 An approved person must act with due skill, care and diligence in carrying out his accountable functions. |
Statement of Principle 3 An approved person must observe proper standards of market conduct in carrying out his accountable functions. |
Statement of Principle 4 An approved person must deal with the FCA, the PRA and other regulators in an open and cooperative way and must disclose appropriately any information of which the FCA or the PRA would reasonably expect notice. |
Statement of Principle 5 An approved person performing an accountable significant-influence function must take reasonable steps to ensure that the business of the for which he is responsible in his accountable function is organised so that it can be controlled effectively. |
Statement of Principle 6 An approved person performing an accountable significant-influence function must exercise due skill, care and diligence in managing the business of the for which he is responsible in his accountable function. |
Statement of Principle 7 An approved person performing an accountable significant-influence function must take reasonable steps to ensure that the business of the for which he is responsible in his accountable function complies with the relevant requirements and standards of the regulatory system. |
Information which may be required. See SUP 6.3.24 G
Type of business |
Information which may be required |
All |
1. Details of how the firm plans to comply with the relevant regulator's27 regulatory requirements relating to any additional regulated activities it is seeking to carry on. 27 |
2. Descriptions of the firm's key controls, senior management arrangements and audit and proposed compliance arrangements in respect of any new regulated activity (see SYSC). |
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3. Organisation charts and details of individuals transferring or being recruited to perform new controlled functions (see SUP 10 for details of the application or transfer procedures under the approved persons regime). |
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1. A scheme of operations in accordance with SUP App 2. |
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2. (If the application seeks to vary a permission to include motor vehicle liability insurance business) details of the claims representatives12 required by threshold condition 3F27 (Appointment of claims representatives), if applicable. 12 |
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1. A business plan which includes the impact of the variation on the firm's existing or continuing business financial projections for the firm, including the impact of the requested change27 on the firm's financial resources and capital adequacy requirements.2 27 |