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Status: You are viewing the version of the handbook as on 2009-03-31.

SUP 15.4 Notified persons

SUP 15.4.1RRP
  1. (1)

    An overseas firm, which is not an incoming firm, must notify the FSA within 30 business days of any person taking up or ceasing to hold the following positions:

    1. (a)

      the firm's worldwide chief executive (that is, the person who, alone or jointly with one or more others, is responsible under the immediate authority of the directors for the whole of its business) if the person is based outside the United Kingdom;

    2. (b)

      the person within the overseas firm with a purely strategic responsibility for UK operations (see SUP 10.7.4 G);

    3. (c)

      for a bank or an ELMI: the two or more persons who effectively direct its business in accordance with SYSC 4.2.2 R and ELM 5.3.1 , respectively;

      1
    4. (d)

      for an insurer: the authorised UK representative.

  2. (2)

    The notification in (1) must be submitted using Form F (SUP 15 Ann 2). However, if the person is an approved person, notification giving details of his name, the approved person's FSA individual reference number and the position to which the notification relates, is sufficient.

SUP 15.4.2GRP

SUP 15.4.1 R is not made under the powers conferred on the FSA by Part V of the Act (Performance of Regulated Activities). A person notified to the FSA under SUP 15.4.1 R is not subject to the Statements of Principle or Code of Practice for Approved Persons, unless he is also an approved person.

SUP 15.4.3GRP

Copies of Form F may be obtained from the FSA website at www.fsa.gov.uk or from the Individual Vetting and Approval department. See SUP 10.11.6 G for contact details.

SUP 15.4.4GRP

If adverse information is revealed about a person notified to the FSA under SUP 15.4.1 R, the FSA may exercise its own-initiative power against the firm (see SUP 7 (Individual requirements)).