Application and purpose



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.

SYSC 1.2


SYSC 1.2.1

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 FSA because they impinge on the FSA's functions under the Act;
  2. (2) to increase certainty by amplifying Principle 3, under which a firm must take reasonable care to organise and control its affairs responsibly and effectively, with adequate risk management systems;
  3. (3) to encourage firms to vest responsibility for effective and responsible organisation in specific directors and senior managers; and
  4. (4) to create a common platform of organisational and systems and controls requirements for all firms.
  5. (5) [deleted]

SYSC 1.4

Application of SYSC 11 to SYSC 19A


SYSC 1.4.1

See Notes

The application of each of chapters SYSC 11 to SYSC 19A is set out in those chapters.

Actions for damages

SYSC 1.4.2

See Notes

A contravention of a rule in SYSC 11 to SYSC 19A does not give rise to a right of action by a private person under section 150 of the Act (and each of those rules is specified under section 150(2) of the Act as a provision giving rise to no such right of action).

SYSC 1 Annex 1

Detailed application of SYSC