Therefore, a non-executive director will not need to be approved to perform any FCA-designated senior management function unless they perform one of the FCA-designated senior management functions set out in this section.
If a firm is not otherwise required to have one of the committees described in this section but chooses to set one up anyway:
However, nothing in SUP 10C requires a firm to set up one of the committees mentioned in this section if the firm is not required to have that committee by a rule elsewhere in the FCA Handbook or by some other requirement of the regulatory system.
So for example if a firm is not otherwise required to have a nomination committee nothing in this section requires it to set one up.
If a firm:
is not otherwise required to have one of the committees described in this section;
chooses to set it up anyway; and
gets approval for the chair of the committee to perform the applicable FCA-designated senior management function;