Table: To whom does COCON apply? 9
9Persons to whom COCON applies
(b) switchboard operators;
(c) post room staff;
(d) reprographics/print room staff;
(e) property/facilities management;
(f) events management;
(g) security guards;
(h) invoice processing;
(i) audio visual technicians;
(j) vending machine staff;
(k) medical staff;
(l) archive records management;
(n) corporate social responsibility staff;
(q) catering staff;
(r) personal assistant or secretary;
(s) information technology support (ie, helpdesk); and
(t) human resources administrators /processors.
SC1 to SC3 in COCON 2.2 do not apply to a standard non-executive director unless, as well as being a standard non-executive director, they also fall into one of the other categories of senior conduct rules staff member.9
For a person (P) who is an approved person, COCON applies to the conduct of P in relation to the performance by P of functions relating to the carrying on of activities (whether or not regulated activities) by the firm on whose application approval was given to P.
[Note: sections 64A(4) and (5)(a) of the Act (Rules of conduct)]
For a person (P) subject to COCON who is not an approved person, COCON applies to the conduct of P in relation to the performance by P of functions relating to the carrying on of activities (whether or not regulated activities) by:9
For example, say that an individual (A) is an approved person for firm X and is employed by firm Y in a role that does not involve a controlled function. Say that firm X is a Solvency II firm or a small non-directive insurer4 and that firm 2Y is a relevant authorised person.
- (1) 522
The FCA interprets the phrase ‘dealing with’ in COCON 1.1.10R as including having contact with customers and extending beyond ‘dealing’ as used in the phrase ‘dealing in investments’. ‘Dealing in’ is used in Schedule 2 to the Act to describe, in general terms, the regulated activities which are specified in Part II of the Regulated Activities Order.