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SYSC 22.4 Drafting the reference: detailed requirements for full scope regulatory reference firms

Purpose of SYSC 22 Annex 1R

SYSC 22.4.1G

1SYSC 22 Annex 1R (Template for regulatory references given by relevant authorised persons and disclosure requirements) has two purposes:

  1. (1)

    to set out what information a full scope regulatory reference firm should disclose under SYSC 22.2.2R(4); and

  2. (2)

    to provide a template that a full scope regulatory reference firm should use when giving a reference under this chapter.

How to draft the reference

SYSC 22.4.2R
  1. (1)

    A full scope regulatory reference firm must use the template in Part One of SYSC 22 Annex 1R (Template for regulatory references given by relevant authorised persons and disclosure requirements) when giving a reference under this chapter to another firm (A).

  2. (2)

    A firm may make minor changes to the format of the template in Part One of SYSC 22 Annex 1R when giving a reference under this chapter, provided that the reference includes all the information required by SYSC 22 Annex 1R.

  3. (3)

    This rule applies even if A is not a full scope regulatory reference firm.

SYSC 22.4.3G
  1. (1)

    SYSC 22.4.2R does not stop a full scope regulatory reference firm including matters in the reference not required by the template in SYSC 22 Annex 1R.

  2. (2)

    A full scope regulatory reference firm may include the material required by the template and additional material in the same document.

  3. (3)

    Any additional material should not alter the scope of any of the questions in the templates.

SYSC 22.4.4G

A full scope regulatory reference firm should use the template in SYSC 22 Annex 1R (Template for regulatory references given by relevant authorised persons and disclosure requirements) even if the firm asking for the reference does not specifically ask it to.

PRA requirements

SYSC 22.4.5R

B may combine in a single reference what the PRA’s rules require and what this chapter requires.