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Status: You are viewing the version of the handbook as on 2005-06-30.

SYSC 4.1 Application and purpose

Application

SYSC 4.1.1RRP

1This chapter is relevant to every firm to the extent that the Public Interest Disclosure Act 1998 ("PIDA") applies to it.

Purpose

SYSC 4.1.2RRP
  1. (1)

    The purposes of this chapter are:

    1. (a)

      to remind firms of the provisions of PIDA; and

    2. (b)

      to encourage firms to consider adopting and communicating to workers appropriate internal procedures for handling workers' concerns as part of an effective risk management system.

  2. (2)

    In this chapter "worker" includes, but is not limited to, an individual who has entered into a contract of employment.

SYSC 4.1.3R

The guidance in this chapter concerns the effect of PIDA in the context of the relationship between firms and the FSA. It is not comprehensive guidance on PIDA itself.

SYSC 4.1.8ARRP

An operator of an electronic system in relation to lending must take reasonable steps to ensure that arrangements are in place to ensure that P2P agreements facilitated by it will continue to be managed and administered, in accordance with the contract terms, if at any time it ceases to carry on the activity of operating an electronic system in relation to lending.