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.
8Where a firm allocates responsibility under MIPRU 2.2.1R it should ensure that the person to whom the allocation is made is of sufficient seniority and authority within the firm to take on that role.
The person could, for example, be:
Where the person allocated responsibility under MIPRU 2.2.1R, is:
a SMF manager, then notification must be made in the following way:
in Form A (Application to perform controlled functions) (see SUP 10C Annex 3D ), Form D (Notification: Changes to personal information/application details and conduct breaches/disciplinary action related to conduct) (see SUP 10C Annex 6R) or Form E (Internal transfer of a person performing a controlled function) (see SUP 10C Annex 7D ); and
included in (as relevant):
a person other than a person in (a) and (b), then notification may be emailed to ‘email@example.com’ or made using a method as set out in SUP 15.7.4R (Method of notification).
Where a firm has appointed an appointed representative to carry on insurance mediation activity or MCD credit intermediation activity4 on its behalf, the person responsible for the firm'sinsurance mediation activity or MCD credit intermediation activity4 will also be responsible for the insurance distribution activity6 or MCD credit intermediation activity4 carried on by an appointed representative.
The FCA will specify in the Financial Services Register the name of the persons to whom the responsibility for the firm'sinsurance distribution activity6 or MCD credit intermediation activity4 has been allocated8. In the case of a sole trader, the FCA will specify in the Financial Services Register the name of the sole trader as the 'contact person' in the firm.6 4