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 10C.16 References and accurate information

References

SUP 10C.16.1GRP

SYSC 22 (Regulatory references) says that if1 a firm (A):3

  1. (1)

    is considering appointing a person (P)1 to perform any1 controlled function or certain other functions1;3

    11
  2. (2)

    requests a reference from a firm (B) that is P’s1 current or former employer1; and3

    1
  3. (3)

    indicates to B the purpose of the request;3

B should1, as soon as reasonably practicable, give a reference1 to A13

SUP 10C.16.2GRP

SYSC 22 also requires firms to get a reference before applying to have someone approved as an approved person.1

SUP 10C.16.3G

[deleted]1

SUP 10C.16.4G

[deleted]1

The need for complete and accurate information

SUP 10C.16.5GRP
  1. (1)

    The obligations to supply information to:

    1. (a)

      the FCA under this chapter;

    2. (b)

      [deleted]1

    apply notwithstanding any:

    1. (c)

      agreement (for example a 'COT 3' Agreement settled by the Advisory, Conciliation and Arbitration Service (ACAS)); or

    2. (d)

      any other arrangements entered into by a firm and an employee upon termination of the employee’s employment.

  2. (2)

    A firm should not enter into any such arrangements or agreements that could conflict with its obligations under this chapter.

SUP 10C.16.6GRP

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