Status: Please note you should read all Brexit changes to the FCA Handbook and BTS alongside the main FCA transitional directions. Where these directions apply the 'standstill', firms have the choice between complying with the pre-IP completion day rules, or the post-IP completion day rules. To see a full list of Handbook modules affected, please see Annex B to the main FCA transitional directions.

APER 3.3 Factors relating to Statements of Principle 5 to 7

APER 3.3.1GRP

1In determining whether or not the conduct of an approved person performing an accountable higher management function complies with Statements of Principle 5 to 7, the following are factors which, in the opinion of the FCA, are to be taken into account:

  1. (1)

    whether he exercised reasonable care when considering the information available to him;

  2. (2)

    whether he reached a reasonable conclusion which he acted on;

  3. (3)

    the nature, scale and complexity of the APER employer's2 business;

  4. (4)

    their role and responsibility as an approved person performing an accountable higher management function;

  5. (5)

    the knowledge he had, or should have had, of regulatory concerns, if any, arising in the business under his control.