Application and purpose



[Note: ESMA has also issued guidelines under article 16(3) of the ESMA Regulation covering:

- various topics relating to automated trading and direct electronic access. See


- certain aspects of the MiFID suitability requirements which also deal with the system and control aspects of suitability. See]

SYSC 1.1A.1

See Notes

The application of this sourcebook is summarised at a high level in the following table. The detailed application is cut back in SYSC 1 Annex 1 and in the text of each chapter.

Firms that SYSC 19D applies to should also refer to the Remuneration part of the PRA Rulebook

SYSC 1.1A.1A

See Notes

Chapters 4 to 9 are not applicable to CRR firms (other than incoming firms).

SYSC 1.1A.2

See Notes


The provisions in SYSC should be read in conjunction with GEN 2.2.23 R to GEN 2.2.25 G. In particular:

  1. (1) Provisions made by both the FCA and PRA may contain obligations for or references to FCA-authorised persons. GEN 2.2.23 R limits the application of those provisions so that the PRA will only apply them in respect of PRA-authorised persons and not to such FCA-authorised persons as are included within the provision.
  2. (2) Provisions made by both the FCA and PRA may be applied by both regulators to PRA-authorised persons. Such provisions are applied by each regulator to the extent of its powers and regulatory responsibilities.

SYSC 1.2


SYSC 1.2.1A

See Notes


The purposes of SYSC are:

  1. (1) to encourage firms' directors and senior managers to take appropriate practical responsibility for their firms' arrangements on matters likely to be of interest to the PRA because they impinge on the PRA's functions under the Act;
  2. (2) to encourage firms to vest responsibility for effective and responsible organisation in specific directors and senior managers; and
  3. (3) to create a common platform of organisational and systems and controls requirements for all firms.

SYSC 1.4

Application of SYSC 11 to SYSC 21


SYSC 1.4.1

See Notes

The application of each of chapters SYSC 11 to SYSC 21 is set out in those chapters and in SYSC 1.4.1A R.

SYSC 1.4.1A

See Notes

SYSC 12, SYSC 19A, SYSC 19D, SYSC 20 and SYSC 21 do not apply to a firm in relation to its carrying on of auction regulation bidding.

SYSC 1.4.1B

See Notes

Apart from SYSC 12, SYSC 19A, SYSC 19D, SYSC 20 and SYSC 21 which are disapplied by SYSC 1.4.1A R, the other chapters of SYSC 11 to SYSC 17 do not apply in relation to a firm's carrying on of auction regulation bidding because they only apply to an insurer. SYSC 18 provides guidance on the Public Interest Disclosure Act.

SYSC 1 Annex 1

Detailed application of SYSC