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.

SUP 10A.15 References and accurate information

References

SUP 10A.15.1GRP
  1. (1)

    1SYSC 22 (Regulatory references) says that if1 a firm (A):

    1. (a)

      is considering appointing a person (P)1 to perform any1 controlled function or certain other functions1;

    2. (b)

      requests1 a reference from a firm (B) that is P’s1 current or former employer1; and

    3. (c)

      indicates to B the purpose of the request;

    B should1, as soon as reasonably practicable, give a reference to A1.

  2. (2)

    SYSC 22.8.3R and SYSC 22.8.4R (Appointed representatives) say that this applies to B’s appointed representatives as well as to B.4

    331
  3. (3)

    [deleted]3

    1
SUP 10A.15.2G

[deleted]1

SUP 10A.15.3G

[deleted]1

SUP 10A.15.3AG

[deleted]1

2

The need for complete and accurate information

SUP 10A.15.4GRP

The obligations to supply information to1 the FCA under either SUP 10A.14.8R or SUP 10A.14.10R1 apply notwithstanding any agreement (for example a 'COT 3' Agreement settled by the Advisory, Conciliation and Arbitration Service (ACAS)) or any other arrangements entered into by a firm or its appointed representative4 and an employee upon termination of the employee's employment. A firm should not (and should ensure that its appointed representatives do not)4 enter into any such arrangements or agreements that could conflict with its obligations under this section.

SUP 10A.15.5GRP

Failing to disclose relevant information to the FCA may be a criminal offence under section 398 of the Act.