Related provisions for SUP 10C.11.20
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(1) A firm should, wherever feasible, conclude investigative procedures before the employee departs. (2) However, this chapter does not create a duty to investigate alleged misconduct by an employee or former employee.(3) There are several reasons why a firm may find it appropriate to investigate potential misconduct by an employee or former employee, including:(a) assessing the actual and potential damage resulting from misconduct;(b) identifying other individuals potentially
A firm giving a reference need not include information from a criminal records check it has carried out under Part V of the Police Act 1997 (Certificates of Criminal Records, &2). The recruiting firm should carry out a criminal records check itself if necessary. SUP 10C.10.16R requires an SMCR firm2 to carry out such a check when appointing an SMF manager.
2When the FCA1 decides whether to make a prohibition order against an approved person and/or withdraw their1 approval, the FCA will consider all the relevant circumstances of the case. These may include, but are not limited to those set out below. (1) The matters set out in section 61(2) of the Act. (2) Whether the individual is fit and proper to perform functions in relation to regulated activities. The criteria for assessing the fitness and propriety of
Table: FCA approved persons forms and other documents1Form or other documentPurposeHandbook requirementThe6 relevant Form ASUP 10C Annex 3D6Application to perform designated senior management functions6SUP 10C.10.8DForm BSUP 10C Annex 4R6Notice to withdraw an application to perform controlled functions under the approved persons regimeSUP 10C.10.36RNotice to withdraw an application to vary an approval under the senior managers regime6SUP 10C.13.15RForm CSUP 10C Annex 5R6Notice
4The FCA also has measures available to it where it considers it is appropriate to take protective or remedial action. These include: (1) where a firm's continuing ability to meet the threshold conditions or where an approved person's or other individual’s1 fitness and propriety1 are called into question: (a) varying and/or cancelling of permission and the withdrawal of a firm’s authorisation (see chapter 8); and (b) the withdrawal of an individual’s status as an approved person
ModuleRelevance to Credit UnionsThe Principles for Businesses (PRIN)The Principles for Businesses (PRIN) set out 3high-level requirements 3imposed by the FCA3. They provide a general statement of regulatory requirements. The Principles apply to all9credit unions. In applying the Principles to credit unions, the FCA3 will be mindful of proportionality. In practice, the implications are likely to vary according to the size and complexity 3of the credit union.99999Senior Management
(1) A UK SMCR banking firm4 is required under SYSC 24.2.1R4 to allocate the FCA-prescribed senior management responsibility for acting as the firm’swhistleblowers’ champion. 242(2) SYSC 18.4.2R requires the appointment by an insurer of a director or senior manager as its whistleblowers’ champion. (3) This section sets out the role of the whistleblowers’ champion.(4) The FCA expects that a firm will appoint a non-executive director as its whistleblowers’ champion. A firm that does