Prudential Regulation Authority Rulebook

3.1

1. (1) If any PRA-authorised person (A):
1. (a) is considering issuing a certificate to, making a senior management application in respect of, or appointing as a senior insurance management function holder, a key function holder, a non-executive director, a notified non-executive director or a credit union non-executive director, a person (P);
2. (b) makes a request for a reference or other information in respect of P from a firm to which this Part applies (B), in B’s capacity as:
1. (i) P’s current or former employer; or
2. (ii) an organisation (not falling within (i)) at which P is currently serving, or has served, as a senior insurance management function holder, other approved person or non-executive director; and
3. (c) indicates to B the purpose of the request
4. B must, as soon as reasonably practicable, provide a reference and disclose to A in the reference all information of which B is aware that B reasonably considers to be relevant to A’s assessment of whether P is fit and proper.
2. (2) A firm (B) which is required to make a disclosure under 3.1(1) is required to disclose information on or relating to something which occurred or existed:
1. (a) in the six years before the request for a reference;
2. (b) between the date of the request for a reference and the date B gives the reference; or
3. (c) in the case of serious matters, at any time.

3.2

A firm must not enter into any arrangements or agreements with any person that limit its ability to disclose information under this Part.

3.3

This Part does not require a firm to disclose information that has not been properly verified.

3.4

A firm does not breach the requirements of this Part by failing to include information in a reference that it would otherwise have to include if:

1. (1) the reason for the omission is that the firm does not have the necessary records; and
2. (2) no requirement of or under the regulatory system requires the firm to have those records.