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Non-Solvency II Firms - Conduct Standards Application and Definitions

Application provision

1.1 This Part applies:

  1. (1) to a small non-directive insurer; and
  2. (2) in relation to a small non-directive insurer, to any person who is:
    1. (a) a Conduct Rules non-executive director;
    2. (b) approved under section 59 of FSMA by either:
      1. (i) the PRA; or
      2. (ii) the FCA, in relation to a relevant senior management function;
    3. (c) a certification employee; 
    4. (d) an employee who should have been approved under section 59 of FSMA by either:
      1. (i) the PRA; or
      2. (ii) the FCA, in relation to a relevant senior management function; or
    5. (e) an employee who is performing a function that would have been a controlled function but for Non-Solvency II Firms – Senior Management Functions 2.3.

1.1

10/12/2018

This Part applies:

  1. (1) to a small non-directive insurer; and
  2. (2) in relation to a small non-directive insurer, to any person who is:
    1. (a) a Conduct Rules non-executive director;
    2. (b) approved under section 59 of FSMA by either:
      1. (i) the PRA; or
      2. (ii) the FCA, in relation to a relevant senior management function;
    3. (c) a certification employee; 
    4. (d) an employee who should have been approved under section 59 of FSMA by either:
      1. (i) the PRA; or
      2. (ii) the FCA, in relation to a relevant senior management function; or
    5. (e) an employee who is performing a function that would have been a controlled function but for Non-Solvency II Firms – Senior Management Functions 2.3.

1.2

10/12/2018

In this Part the following definition shall apply:

employee

has the meaning given in Non-solvency II Firms – Certification 1.2.