Content Options

Content Options

View Options

Status: Please note you should read all Brexit changes to the FCA Handbook and BTS alongside the main FCA transitional directions. Where these directions apply the 'standstill', firms have the choice between complying with the pre-IP completion day rules, or the post-IP completion day rules. To see a full list of Handbook modules affected, please see Annex B to the main FCA transitional directions.

You are viewing the version of the document as on 2021-01-01.

Status: In this content, we have included all amendments made by EU exit-related instruments up to end September 2020. There will be more amendments to be made later this year, further to the September QCP.

Article 3 Specific information concerning policies and procedures

  1. (1)

    Any policies and procedures established to comply with requirements of Regulation (EU) 2016/1011 and described in an application shall contain or be accompanied by:

    1. (a)

      an indication of the identity of the person or persons responsible for the approval and maintenance of the policies and procedures;

    2. (b)

      a description of how compliance with the policies and procedures is monitored and the identity of the person or persons responsible for this monitoring;

    3. (c)

      a description of the measures to be taken in the event of a breach of the policies and procedures.

  2. (2)

    Where an applicant is a company within a group, it may comply with paragraph 1 by submitting the policies and procedures of its group where they relate to the provision of benchmarks.