Related provisions for CREDS 2.2.62

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SYSC 4.1.-2GRP

21For a common platform firm:

  1. (1)

    the MiFID Org Regulation applies, as summarised in SYSC 1 Annex 1 3.2G, SYSC 1 Annex 1 3.2-AR and SYSC 1 Annex 1 3.2-BR; and

  2. (2)

    the rules and guidance apply as set out in the table below:

    Subject

    Applicable rule or guidance

    General requirements

    SYSC 4.1.1R, SYSC 4.1.1CR, SYSC 4.1.2R, SYSC 4.1.2AAR

    Business continuity

    SYSC 4.1.6R, SYSC 4.1.7R, SYSC 4.1.8G

    Audit committee

    SYSC 4.1.11G, SYSC 4.1.13G, SYSC 4.1.14G

    Persons who effectively direct the business

    SYSC 4.2.1R, SYSC 4.2.2R, SYSC 4.2.3G, SYSC 4.2.4G, SYSC 4.2.5G, SYSC 4.2.6R

    Responsibility of senior personnel

    SYSC 4.3.3G

    Management body

    SYSC 4.3A.-1R to SYSC 4.3A.7R

    Nominations committee

    SYSC 4.3A.8R to SYSC 4.3A.11R

    Management responsibilities maps for UK relevant authorised persons

    SYSC 4.5

    Management responsibilities maps for non-UK relevant authorised persons

    SYSC 4.6

    Senior management responsibilities for UK relevant authorised persons

    SYSC 4.7

    Handover procedures and material

    SYSC 4.9
SYSC 4.1.7AGRP
3Other firms should take account of the business continuity rules (SYSC 4.1.6 R and 4.1.7 R) as if they were guidance (and as if "should" appeared in those rules21 instead of "must") as explained in SYSC 1 Annex 1 3.3 R(1)21.5
SYSC 1.4.2RRP
A contravention of a rule in SYSC 11 to 2SYSC 21,7SYSC 22.8.1R or SYSC 22.9.1R7 does not give rise to a right of action by a private person under section 138D of the Act (and each of those rules is specified under section 138D(3) of the Act as a provision giving rise to no such right of action). 3443