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Term Definition Legal instruments

relevant senior management function


means, for the purposes of section 64A of FSMA, any of the following FCA controlled functions to the extent applicable, pursuant to the FCA Handbook, to a UK Solvency II firm, the Society, a managing agent, a third country branch undertaking (other than a Swiss general insurer), an ISPV, a large non-directive insurer or a small non directive insurer:

  1. CF1 Director function;

  2. CF2A Chair of the Nomination committee function;

  3. CF2B Chair of the With-Profits committee function;

  4. CF3 Chief executive function;

  5. CF5 Director of unincorporated association function;

  6. CF6 Small friendly society function;

  7. CF10 Compliance oversight function;

  8. CF28 Systems and control function; and

  9. CF51 Actuarial conduct function holder in Solvency II third country Insurance undertakings.