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SYSC 22.8 Additional rules and guidance for all firms

Policies and procedures

SYSC 22.8.1R

1A firm must establish, implement and maintain policies and procedures that are adequate for the purpose of complying with the obligations in this chapter.

SYSC 22.8.2G

SYSC 22.8.1R does not require a firm to create or keep records that are not required under SYSC 22.9.1R (General record keeping rules) or another rule.

Appointed representatives

SYSC 22.8.3R

This chapter applies to a firm’s appointed representatives as well as to the firm.

SYSC 22.8.4R

When a relevant authorised person is permitting or appointing someone to perform a controlled function whose approval is given under SUP 10A.1.15R or SUP 10A.1.16R (appointed representatives of relevant authorised persons), the requirements of this chapter for firms that are not full scope regulatory reference firms apply in place of the requirements that only apply to full scope regulatory reference firms.

SYSC 22.8.5G

A firm should ensure its appointed representative complies with the requirements of this chapter when the appointed representative appoints an approved person under SUP 10A.1.15R to SUP 10A.1.16BR (appointed representatives).

SYSC 22.8.6G
  1. (1)

    A firm should ensure that its appointed representative gives a reference when another firm (or its appointed representative) asks that appointed representative to give a reference in accordance with this chapter.

  2. (2)

    A firm is not responsible for its appointed representative’s giving references if another principal has accepted responsibility for this.

Getting and giving a reference where the employee has worked in a group or on secondment

SYSC 22.8.7G

If:

  1. (1)

    a firm (A) is thinking of employing someone (P);

  2. (2)

    P is employed by a group services company (D) that is not a firm;

  3. (3)

    P (in their capacity as an employee of D) performs a function or service for a firm (B) in the same group as D such that P is also an employee of B; and

  4. (4)

    A intends to appoint (P) to a position that entitles A to obtain a reference from B;

then:

  1. (5)

    (if A is a full scope regulatory reference firm) A should ask both B and D for a reference;

  2. (6)

    B is obliged to give the reference if A asks it to (whether or not A is a full scope regulatory reference firm);

  3. (7)

    B should ask D to provide it with the information needed to provide a reference in accordance with this chapter;

  4. (8)

    D may give a reference but (as it is not a firm) it is not obliged to; and

  5. (9)

    D and B may give a single joint reference.

SYSC 22.8.8G

SYSC 22.8.7G also applies where:

  1. (1)

    D is not in the same group but has seconded P to B; and

  2. (2)

    P (in their capacity as an employee of D) performed any function or services for B such that P was also an employee of B.

SYSC 22.8.9G

If:

  1. (1)

    a firm (A) is thinking of appointing someone (P) to a position that entitles A to obtain a reference from another firm (B); and

  2. (2)

    P was an employee of other members of B’s group as well as of B;

then:

  1. (3)

    (if A is a full scope regulatory reference firm) A should ask all the group members that employed P for a reference;

  2. (4)

    B should give a reference if A asks it to (whether or not A is a full scope regulatory reference firm);

  3. (5)

    P’s employers in that group (including any that are not firms) may give a single joint reference; and

  4. (6)

    if the reference is being provided on a consolidated group basis, it should be clear what information is relevant to which employer within the group.