Prudential Regulation Authority Rulebook

3.1

A firm must contractually require any PRA approved person, notified non-executive director or credit union non-executive director to:

1. (1) act with integrity;
2. (2) act with due skill, care and diligence;
3. (3) be open and co-operative with the FCA, the PRA and other regulators; and
4. (4) disclose appropriately any information to the FCA or PRA which they would reasonably expect notice.

3.2

A firm must contractually require any PRA approved person to:

1. (1) take reasonable steps to ensure that the business of the firm for which they are responsible is controlled effectively;
2. (2) take reasonable steps to ensure that the business of the firm for which they are responsible complies with relevant requirements and standards of the regulatory system; and
3. (3) take reasonable steps to ensure that any delegation of their responsibilities is to an appropriate person and that they oversee the discharge of the delegated responsibility effectively.