Related provisions for SUP 10A.14.16

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To access the FCA Handbook Archive choose a date between 1 January 2001 and 31 December 2004 (From field only).

SUP 10A.14.10RRP
(1) A firm must notify the FCA as soon as practicable after it becomes aware, or has information which reasonably suggests, that it will submit a qualified Form C in respect of an FCA-approved person.(2) Form C is qualified if the information it contains:(a) relates to the fact that the firm has dismissed, or suspended, the FCA-approved person from its employment; or(b) relates to the resignation by the FCA-approved person while under investigation by the firm, the FCA or any
SUP 10A.14.12GRP
A firm is responsible for notifying the FCA if any FCA-approved person has ceased to perform an FCA controlled function under an arrangement entered into by its appointed representative or former appointed representative.
SUP 10A.14.15RRP
If an FCA-approved person's title, name or national insurance number changes, the firm for which the person performs an FCA controlled function must notify the FCA on Form D, in the form set out in SUP 10A Annex 7R, of that change within seven business days of the firm becoming aware of the matter.
SUP 10A.14.17RRP
If a firm becomes aware of information which would reasonably be material to the assessment of an FCA-approved person's, or a FCA candidate's, fitness and propriety (see FIT), it must inform the FCA on Form D, or (if it is more practical to do so and with the prior agreement of the FCA) by e-mail or fax, as soon as practicable.
SUP 10A.14.21GRP
(1) If, in relation to a firm which has completed the relevant Form A (SUP 10A Annex 4D), any of the details relating to arrangements and FCA controlled functions are to change, the firm must notify the FCA on Form D (SUP 10A Annex 7R). (2) The notification under (1) must be made as soon as reasonably practicable after the firm becomes aware of the proposed change.(3) This also applies in relation to an FCA controlled function for which an application was made using Form E.(4)
SUP 15.3.11RRP
(1) A firm must notify the FCA11 of:3535(a) a significant breach of a rule (which includes a Principle, a Statement of Principle or a COCONrule)20; or2020(aa) a significant breach of any requirement imposed by the CCA or by regulations or an order made under the CCA (except if the breach is an offence, in which case (c) applies), but any notification under (aa) is required to be made only to the FCA; or 14(b) a breach of any requirement imposed by the Act or by regulations
SUP 15.3.23DRP
3The Society must immediately inform the FCA11 in writing if it becomes aware that any matter likely to be of material concern to the FCA11 may have arisen in relation to:3535(1) the regulated activities for which the Society has permission; or (2) underwriting agents; or (3) approved persons or individuals acting for or on behalf of underwriting agents.
SUP 15.3.25DRP
3The Society must inform the FCA11 if it commences investigations or disciplinary proceedings which do not fall within the scope of SUP 15.3.24 D but which:3535(1) involve an underwriting agent, or an approved person who carries out controlled functions for it or on its behalf; or (2) may indicate that an individual acting for or on behalf of an underwriting agent may not be a fit and proper person to perform functions in relation to regulated activities.
SUP 10C.14.5RRP
(1) A firm must notify the FCA no later than ten3business days after an FCA-approved SMF manager ceases to perform an FCA-designated senior management function.(2) It must make that notification by submitting to the FCA a completed Form C (SUP 10A Annex 6R).(3) If: (a) the firm is also making an application for approval for that approved person to perform a controlled function within the same firm or group; and(b) ceasing to perform the FCA-designated senior management function
SUP 10C.14.24GRP

Table: Explanation of the sections of the Act mentioned in SUP 10C.12.22G

1Section

Summary of relevant parts

Other Handbook material

Comments

Section 63(2A) (Duty to notify regulator of grounds for withdrawal of approval)

At least once a year, each firm must, in relation to every SMF manager for whom an approval has been given on the application of that firm:

(a) consider whether there are any grounds on which the FCA could withdraw the approval; and

(b) if the firm is of the opinion that there are such grounds, notify the FCA of those grounds.

FIT sets out guidance on the factors a firm should take into account when assessing the fitness and propriety of an approved person.

2

2

2

Section 64C of the Act (Requirement for relevant authorised persons to notify regulator of disciplinary action)

If:

(a) a firm takes disciplinary action in relation to an SMF manager; and

(b) the reason, or one of the reasons, for taking that action is a reason specified in SUP 15.11.6R;

the firm should notify the FCA of that fact.

SUP 15.11 (Notification of COCON breaches and disciplinary action)

An example of when a notification should be made using Form C rather than Form D is when a firm is required to notify the FCA under section 64C of the Act that it has dismissed an SMF manager.
SUP 10A.17.2GRP
If the firm or its advisers have further questions, they should contact the FCA's Contact Centre (see SUP 10A.12.6 G).
APER 4.4.1AGRP
3The Statement of Principle 4 (see APER 2.1A.3 R1) is in the following terms: "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."1
SUP 10C.16.6GRP
Failing to disclose relevant information to the FCA may be a criminal offence under section 398 of the Act.
SUP 12.8.4GRP
The firm is responsible for notifying the FCA of any approved person who no longer performs a controlled function under an arrangement entered into by a firm or its appointed representative (see SUP 10A.3 and SUP 10C.3)7.
SUP 15.4.1RRP
(1) An overseas firm, which is not an incoming firm, must notify the FCA4 within 30 business days of any person taking up or ceasing to hold the following positions:88(a) the firm's worldwide chief executive (that is, the person who, alone or jointly with one or more others, is responsible under the immediate authority of the directors for the whole of its business) if the person is based outside the United Kingdom;(b) the person within the overseas firm with a purely strategic
SUP 15.4.2GRP
SUP 15.4.1 R is not made under the powers conferred on the FCA4 by Part V of the Act (Performance of Regulated Activities). A person notified to the FCA4 under SUP 15.4.1 R is not subject to the Statements of Principle or Code of Practice for Approved Persons, unless he is also an approved person.8888
COCON 4.2.28GRP
(1) If a senior conduct rules staff member comes across a piece of information that is something of3 which they think the FCA or PRA could reasonably expect notice, they should determine whether that information falls within the scope of their responsibilities:2(a) (for an SMF manager)2 by virtue of that person’sstatement of responsibilities; or2(b) (for an approved person performing a significant influence function in a Solvency II firm or a small non-directive insurer3) including
SUP 10C.15.3GRP

Table: FCA approved persons forms and other documents

1Form or other document

Purpose

Handbook requirement

the relevant Form A

SUP 10C Annex 2D

Application to perform designated senior management functions under the approved persons regime

SUP 10C.10.8D

Form B

SUP 10A Annex 5R

Notice to withdraw an application to perform controlled functions under the approved persons regime

SUP 10C.10.36R

Notice to withdraw an application to vary an approval under the senior management regime for SMF managers

SUP 10C.13.15R

Form C

SUP 10A Annex 6R

Notice of ceasing to perform controlled functions

SUP 10C.14.5R

Form D

SUP 10A Annex 7R

Notification of changes in personal information or application details or functions

SUP 10C.14.13R

SUP 10C.14.15R

Notification about fitness or of breach of conduct rules

SUP 10C.14.18R

SUP 10C.14.22R

Form E

SUP 10C Annex 3D

Internal transfer of an approved person

SUP 10C.10.9D

Form I

SUP 10C Annex 4D

Application to vary a conditional approval under the senior management regime for SMF managers

SUP 10C.13.6D

Form J

SUP 10C Annex 6D

Notification of significant change to a statement of responsibilities

SUP 10C.11

Relevant3statement of responsibilities

2

SUP 10C Annex 5D

SUP 10C.11

4MiFID Article 4 SMR Information Form

SUP 10C Annex 7D

SUP 10C.11

4Annex III template

https://www.fca.org.uk/publication/forms/mifid-changes-management-body-form.docx

As required by MiFID II ITS

SUP 10C.10.9B

Note: Some of the forms are also used in SUP 10A, which deals with the approved persons regime for firms that are not relevant authorised persons.

Therefore:

(1) where column three refers to the approved persons regime, that includes the senior management regime for SMF managers in this chapter, as well as the regime in SUP 10A for approved persons in firms that are not relevant authorised persons;

(2) where column three refers to approved persons, that includes SMF managers in this chapter as well as other approved persons in SUP 10A
FIT 1.3.4AGRP
1A relevant authorised person assessing the continuing fitness and propriety of an approved person is required to notify the FCA under section 63(2A) of the Act if it forms the opinion that there are grounds on which the FCA could withdraw its approval (see SUP 10C.14.24R). In discharging its obligation to notify the FCA, a relevant authorised person should take into account how relevant and how important the matter is that comes to its attention which suggests an approved person