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Status: You are viewing the version of the handbook as on 2019-12-18.

SYSC 27.5 Exclusions for emergency and temporary appointments

Emergency appointments

SYSC 27.5.1G
  1. (1)

    1If:

    1. (a)

      a firm appoints an individual to perform a function which, but for this rule, would be an FCA certification function;

    2. (b)

      the appointment is to provide cover for a certification employee whose absence is reasonably unforeseen; and

    3. (c)

      the appointment is for less than four weeks;

    then the performance by that individual of such function does not constitute an FCA certification function.

  2. (2)

    This rule does not apply to FCA certification function (4) (functions requiring qualifications).

SYSC 27.5.2G

1SYSC 27.5.1R does not apply to FCA certification function (4) (functions requiring qualifications). Where there is an unforeseen absence of an employee performing a function for which there is a qualification requirement:

  1. (1)

    the firm should take reasonable care to ensure that no employee of that firm performs that function without a valid certificate; and

  2. (2)

    the certificate should be issued before the person starts to perform the function.

Temporary UK role (the 30-day rule)

SYSC 27.5.3R
  1. (1)

    None of the FCA certification functions extend to an individual (“P”) in relation to a firm if:

    1. (a)

      P is based outside the United Kingdom for the firm; and

    2. (b)

      in a 12-month period, P spends no more than 30 days performing what would otherwise be an FCA certification function for that firm within the territorial scope of this chapter as described in SYSC 27.3.1R.

  2. (2)

    Paragraph (1) only applies to the extent that P is appropriately supervised by:

    1. (a)

      one of the firm’s SMF managers; or

    2. (b)

      one of the firm’s certification employees whose certificate covers the FCA certification function that is to be disapplied under (1).

  3. (3)

    This rule does not apply to any FCA certification function to the extent that it involves:

    1. (a)

      giving advice or performing related activities in connection with pension transfers, pension conversions or pension opt-outs for retail clients; or

    2. (b)

      giving advice to a person to become, or continue or cease to be, a member of a particular Lloyd’s syndicate.

  4. (4)

    In the case of a UK SMCR firm, this rule does not apply to FCA certification function (6) (material risk takers).

SYSC 27.5.4G

1SYSC 27 Annex 1G gives examples of how SYSC 27.5.3R works.

SYSC 27.5.5G

1The FCA would expect an individual from overseas using the temporary UK role rule in SYSC 27.5.3R to be accompanied on a visit to a customer in the United Kingdom.

SYSC 27.5.6G

1An individual benefiting from the temporary UK role rule in SYSC 27.5.3R may still be subject to the requirements of TC (Training and competence). However, TC 2.1.9R gives an exemption from certain qualification requirements in TC to an individual benefiting from the temporary UK role rule.