Conduct Rules Individual Conduct Rules

Application provision

1.1 The changes to this rule are effective from 23:00 on 31/12/2020.

  1. (1) This Part applies to every function a person (P) performs in relation to a firm (A) that is:
    1. (a) a CRR firm;
    2. (b) a credit union; or
    3. (c) a third country CRR firm in relation to:
      1. (i) the activities of its establishment in the UK; or
      2. (ii) if it does not have an establishment in the UK, activities in the UK.
  2. (2) This Part only applies if P:
    1. (a) is approved under section 59 of FSMA to perform a senior management function in relation to A;
    2. (b) is an employee of A that should have been so approved;
    3. (c) is an employee or director who is performing a function that would have been a controlled function but for Senior Management Functions 2.3;
    4. (d) performs a certification function in relation to A;
    5. (e) is a Conduct Rules non-executive director of A; or
    6. (f) is a person in relation to whom a notice under section 59ZZA has been or could be given by the PRA to an authorised person.
  3. (3) 3.1 to 3.3 only apply to a person in (2)(a), (b), or (f).
  4. (4) 3.4 only applies to a person in (2)(a), (b), (e) or (f).

2.1

07/03/2016

Individual Conduct Rule 1: You must act with integrity.

2.2

07/03/2016

Individual Conduct Rule 2: You must act with due skill, care and diligence.

2.3

07/03/2016

Individual Conduct Rule 3: You must be open and co-operative with the FCA, the PRA and other regulators.