Related provisions for SUP 10A.14.15
Table: Explanation of the sections of the Act mentioned in SUP 10C.12.22G
1Section |
Summary of relevant parts |
Other Handbook material |
Comments |
Section 63(2A) (Duty to notify regulator of grounds for withdrawal of approval) |
At least once a year, each firm must, in relation to every SMF manager for whom an approval has been given on the application of that firm: (a) consider whether there are any grounds on which the FCA could withdraw the approval; and (b) if the firm is of the opinion that there are such grounds, notify the FCA of those grounds. |
FIT sets out guidance on the factors a firm should take into account when assessing the fitness and propriety of an approved person. |
|
Section 64C of the Act (Requirement for relevant authorised persons to notify regulator of disciplinary action) |
If: (a) a firm takes disciplinary action in relation to an SMF manager; and (b) the reason, or one of the reasons, for taking that action is a reason specified in SUP 15.11.6R; |
SUP 15.11 (Notification of COCON breaches and disciplinary action) |
An example of when a notification should be made using Form C rather than Form D is when a firm is required to notify the FCA under section 64C of the Act that it has dismissed an SMF manager. |
Table: FCA approved persons forms and other documents
1Form or other document |
Purpose |
Handbook requirement |
|
the relevant Form A |
Application to perform designated senior management functions under the approved persons regime |
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Form B |
Notice to withdraw an application to perform controlled functions under the approved persons regime |
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Notice to withdraw an application to vary an approval under the senior management regime for SMF managers |
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Form C |
Notice of ceasing to perform controlled functions |
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Form D |
Notification of changes in personal information or application details or functions |
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Notification about fitness or of breach of conduct rules |
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Form E |
Internal transfer of an approved person |
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Form I |
Application to vary a conditional approval under the senior management regime for SMF managers |
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Form J |
Notification of significant change to a statement of responsibilities |
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Relevant3statement of responsibilities 2 |
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Note: Some of the forms are also used in SUP 10A, which deals with the approved persons regime for firms that are not relevant authorised persons. Therefore: (1) where column three refers to the approved persons regime, that includes the senior management regime for SMF managers in this chapter, as well as the regime in SUP 10A for approved persons in firms that are not relevant authorised persons; (2) where column three refers to approved persons, that includes SMF managers in this chapter as well as other approved persons in SUP 10A |