Article 2 Policies and procedures

Where information regarding policies and procedures is provided as part of an application, an applicant shall ensure that the application includes the following items:

  1. (a)

    an indication that the Board approves the policies, that the senior management approves the procedures and that the senior management is responsible for the implementation and maintenance of the policies and procedures;

  2. (b)

    a description of how the communication of policies and procedures within the applicant is organised, how compliance with the policies will be ensured and monitored on a day to day basis, and the person or persons responsible for compliance in that regard;

  3. (c)

    any records indicating that employed and dedicated staff are aware of the policies and procedures;

  4. (d)

    a description of the measures to adopt in the event of a breach of policies and procedures;

  5. (e)

    an indication of the procedure for reporting to the FCA any material breach of policies or procedures which may result in a breach of the conditions for initial registration.