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Status: You are viewing the version of the handbook as on 2009-03-31.

APER 1.1 Application

Who?

APER 1.1.1G
APER 1.1.2G

2The Statements of Principle apply only to the extent that a person is performing a controlled function for which approval has been sought and granted.

APER 1.1.3G

2Section 64(11) of the Act states that the power to issue Statements of Principle and codes of practice includes power to make different provisions in relation to persons, cases or circumstances of different descriptions. Statements of Principle 1, 2, 3 and 4 apply to all approved persons, and Statements of Principle 5, 6 and 7 apply to those approved to perform significant influence functions.

APER 1.1.4G

2The relevance of MiFID to the Statements of Principle will depend on the extent to which the corresponding requirement imposed on firms under MiFID is reserved to a Home State regulator or has been disapplied under MiFID (see APER 2.1.1A P and FIT 1.2.4A G. See also COBS 1 Annex 11, Part 2, 1.1R (EEA territorial scope rule: compatibility with European law)).

Where?

APER 1.1.5G

2The territorial scope of the approved persons regime and its application to incoming EEA firms is set out in SUP 10.1 (see SUP 10.1.13 R and 10.1.14 R).