Related provisions for SUP App 2.7.2
Table: What positions need a reference
Position |
When to obtain reference |
Comments |
(A) Permitting or appointing someone to perform an FCA controlled function or a PRA controlled function. |
One month before the end of the application period Where a request for a reference would require: (a) the firm requesting the reference; (b) the employer giving the reference; or (c) any other person; to make a mandatory disclosure prior to P disclosing to its current employer that such application has been made, the date is the end of the application period. |
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(B) Issuing a certificate under section 63F of the Act (Certification of employees by2 authorised persons). |
Before the certificate is issued |
This includes renewing an existing certificate. |
(C) Appointing someone to any of the following positions (as defined in the PRA Rulebook): (a) a notified non-executive director; (b) a credit union non-executive director; or (c) a key function holder. |
Not applicable |
SYSC 22.2.1R (obligation to obtain a reference) does not apply to a firm appointing someone to the position in column (1). However SYSC 22.2.2R does apply to a firm asked to give a reference to a firm appointing someone to the position in column (1). |
3(D) A firm appointing someone to be a non-SMF board director subject to competence requirements of itself. |
Before appointment |
Only applies where the appointment is by a UK SMCR firm that is: (a) a core SMCR firm; or (b) an enhanced scope SMCR firm. |
Note 1: Mandatory disclosure means an obligation in any applicable laws, regulations or rules to declare or disclose information to the public. |
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Note 2: P refers to the employee or ex-employee about whom the reference is given as defined in more detail in SYSC 22.2.1R and SYSC 22.2.2R. |
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Note 3: The application period means the period for consideration referred to in section 61 of the Act (Determination of application). |
- (1)
Before a pure protection contract is concluded, a firm must communicate, at least,1 the information in the table below to the customer.1
1 - (2)
The information must be provided in a clear and accurate manner, in writing, and in an official language of the State of the commitment or in another language if the policyholder so requests and the law of the State of the commitment so permits or the policyholder is free to choose the applicable law.1
1
Information to be communicated before conclusion |
|
(1) |
The name of the insurance undertaking and its legal form. |
(2) |
The name of the EEA State in which the head office and, where appropriate, the agency or branch1 concluding the contract is situated. 1 |
(3) |
The address of the head office and, where appropriate, of the agency or branch concluding the contract. |
1(3a) |
A concrete reference to the firm'sSFCR allowing the policyholder easy access to this information. |
(4)* |
Definition of each benefit and each option. |
(5)* |
Term of the contract. |
(6)* |
Means of terminating the contract. |
(7)* |
Means of payment of premiums and duration of payments. |
(8)* |
Information on the premiums for each benefit, both main benefits and supplementary benefits, where appropriate. |
(9)*1 |
Arrangements for application of the cancellation period. |
(10) |
General information on the tax arrangements applicable to the type of policy. |
(11) |
The arrangements for handling complaints concerning contracts by policyholders, lives assured or beneficiaries1 under contracts including, where appropriate, the existence of a complaints body (usually the Financial Ombudsman Service), without prejudice to the right to take legal proceedings. 1 |
(12) |
The law applicable to the contract where the parties do not have a free choice or, where the parties are free to choose the law applicable, the law the firm1 proposes to choose. 1 |
Note: The rule on mid-term changes applies to items marked with an asterisk (see ICOBS 6.3.3 R). |
[Note: article 185 of the Solvency II Directive1]
1Table: FCA-approved persons forms
Form |
Purpose |
Handbook requirement |
|
the relevant Form A |
The relevant online form on the FCA and PRA'sonline notification and application system3 or the form in SUP 10A Annex 4D (See Note) 11 |
Application to perform controlled functions under the approved persons regime |
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Form B |
Notice to withdraw an application to perform controlled functions under the approved persons regime |
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Form C |
Notice of ceasing to perform controlled functions |
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Form D |
Notification of changes in personal information or application details |
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Form E |
The relevant online form on the FCA and PRA'sonline notification and application system3 system or the form in SUP 10A Annex 8D (See Note) 11 |
Internal transfer of an approved person |
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[deleted]6 555 |
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Note (2): Where SUP 10A.1.16BR (appointed representative of an SMCR firm) applies, the version of the form to be used is the one required by SUP 10C (FCA senior managers regime for approved persons in SMCR firms). 5 |