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.2 1Purpose

SUP 10C.2.1GRP

The purpose of SUP 10C is:

  1. (1)

    to specify, under section 59 of the Act, descriptions of the FCA-designated senior management functions for SMCR firms2, which are listed in SUP 10C.4.3R; and2

  2. (2)

    to specify the manner in which a firm must apply for the FCA's approval under section 59 of the Act and other procedures for FCA-approved SMF managers; 2

SUP 10C.2.2GRP


SUP 10C.2.3GRP
  1. (1)

    The FCA has certain powers in relation to PRA-approved persons, such as the requirement for FCA consent to the PRA granting approval for the performance of a PRA controlled function. SUP 10C does not deal with these.

  2. (2)

    However, SUP 10C.12.1G has material about the FCA's policy on giving its consent to applications made to the PRA about conditional and time-limited approvals for SMF managers in PRA-authorised persons2.

SUP 10C.2.4GRP

SUP 10C.14 (Changes to an approved person’s details) applies, in certain cases, to PRA-approved persons. Where this is the case, it says so.