FCA—APR controlled functions for benchmark administrators and appointed representatives
FCA—APR controlled functions for benchmark administrators and appointed representatives

The following Financial Services practice note provides comprehensive and up to date legal information covering:

  • FCA—APR controlled functions for benchmark administrators and appointed representatives
  • The APR and the SM&CR
  • The FCA’s power to specify a controlled function
  • Which FCA controlled functions are applicable?
  • SM&CR firms
  • Non-SM&CR firms
  • FCA controlled functions under the APR
  • Bidders in emissions auctions
  • FCA governing functions: CF1–5
  • Director function CF1
  • More...

BREXIT: 11pm (GMT) on 31 December 2020 (‘IP completion day’) marked the end of the Brexit transition/implementation period entered into following the UK’s withdrawal from the EU. Following IP completion day, key transitional arrangements come to an end and significant changes begin to take effect across the UK’s legal regime. This document contains guidance on subjects impacted by these changes. Before continuing your research, see: Brexit and financial services: materials on the post-Brexit UK/EU regulatory regime.

STOP PRESS: On 7 December 2020, the Senior Managers Regime and the Conduct Rules were extended to benchmark administrators that do not undertake any other regulated activities. Information on this extension is set out in SM&CR—essentials for solo-regulated firms. This Practice Note will be updated shortly to reflect this change.
BREXIT: The UK’s exit from the EU and the end of the implementation period on 31 December 2020 will have an impact on this Practice Note. For more information, see Impact of Brexit on the Approved Persons Regime below.
Coronavirus (COVID-19): .Due to the exceptional circumstances of coronavirus, the Financial Conduct Authority has temporarily extended the period in which an individual can cover for an approved person without being approved if, for example, an approved person is absent because of coronavirus, or if recruitment to replace an approved person

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