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Application provision

1.1 (1) This Part applies to every function a person (P) performs in relation to a firm (A) that is:

    1. (a) a CRR firm;
    2. (b) a credit union; or
    3. (c) a third country CRR firm in relation to the activities of its establishment in the UK.
  1. (2) This Part only applies if P:
    1. (a) is approved under section 59 of FSMA to perform a senior management function in relation to A;
    2. (b) is an employee of A that should have been so approved;
    3. (c) is an employee or director who is performing a function that would have been a controlled function but for Senior Management Functions 2.3;
    4. (d) performs a certification function in relation to A; or
    5. (e) is a Conduct Rules non-executive director of A.
  2. (3) 3.1 to 3.3 only apply to a person in (2)(a) or (b).
  3. (4) 3.4 only applies to a person in (2)(a), (b) or (e).

3.1

07/03/2016

Senior Manager Conduct Rule 1: You must take reasonable steps to ensure that the business of the firm for which you are responsible is controlled effectively.

3.2

07/03/2016

Senior Manager Conduct Rule 2: You must take reasonable steps to ensure that the business of the firm for which you are responsible complies with the relevant requirements and standards of the regulatory system.

3.3

07/03/2016

Senior Manager Conduct Rule 3: You must take reasonable steps to ensure that any delegation of your responsibilities is to an appropriate person and that you oversee the discharge of the delegated responsibility effectively.

3.4

07/03/2016

Senior Manager Conduct Rule 4: You must disclose appropriately any information of which the FCA or PRA would reasonably expect notice.