Related provisions for SYSC 5.2.28
1 - 2 of 2 items.
(1) In cases where a certification employee's role changes to involve a new function involving an FCA-specified significant-harm function part way through the twelve-month period for which their certificate is valid, and that new function may have different requirements relating to:(a) personal characteristics;(b) the level of competence, knowledge and experience;(c) qualifications; or(d) training;the FCA would expect the firm to assess whether the employee is fit and proper to
(1) If:(a) a firm appoints an individual to perform a function which, but for this rule, would be an FCA-specified significant-harm function;(b) the appointment is to provide cover for a certification employee whose absence is reasonably unforeseen; and(c) the appointment is for less than four weeks;then the performance by that individual of such function does not constitute an FCA-specified significant-harm function.(2) This rule does not apply to FCA-specified significant-harm
Table: FCA-specified significant-harm functionsFunctionWhere defined(1) CASS oversightSYSC 5.2.32R(2) Benchmark submission and administrationSYSC 5.2.33R(3) Proprietary traderSYSC 5.2.34R(4) Significant managementSYSC 5.2.35R(5) Functions requiring qualificationsSYSC 5.2.39R(6) Managers of certification employeesSYSC 5.2.41R(7) Material risk takersSYSC 5.2.42R3(8) Client-dealingSYSC 5.2.44R3(9) Algorithmic tradingSYSC 5.2.49R