Prudential Regulation Authority Rulebook

2.1

A firm must ensure that all persons who perform key functions are at all times fit and proper persons.

[Note: Art. 42(1) of the Solvency II Directive]

2.2

In deciding whether a person is fit and proper pursuant to 2.1, a firm must be satisfied that the person:

1. (1) has the personal characteristics (including being of good repute and integrity);
2. (2) possesses the level of competence, knowledge and experience;
3. (3) has the qualifications; and
4. (4) has undergone or is undergoing all training,

required to enable such person to perform his or her key function effectively and in accordance with any relevant regulatory requirements, including those under the regulatory system, and to enable sound and prudent management of the firm.

[Note: Art. 42(1) of the Solvency II Directive]

2.3

Before deciding, and in considering on an on-going basis, whether a person is fit and proper pursuant to 2.1 and 2.2, a firm must consider the person’s past business conduct.

[Note: Art. 42(1) of the Solvency II Directive]

2.4

[Not yet in force]

2.5

[Not yet in force]

2.6

[Not yet in force]

2.7

[Not yet in force]