Approved Persons help text: Connect

Find our help text for Approved Persons

Purpose of forms

Candidate details

Withdrawal of Controlled Function

Application of arrangements and Senior Management Functions

Notified persons

Employment history for the past 5 years

Fitness and propriety

Supplementary information

Declarations and signatures

Purpose of forms

Form A - Application to perform a controlled function

This form is referred to in the relevant direction in SUP 10C Annex 3D. This form must be used where the candidate is an individual seeking approval to perform controlled function., including senior management functions (SMFs). The firm is the applicant.

Applications for corporate candidates must be made using an adapted Form A that will be supplied by the FCA/PRA upon request.

Form C – Notification to cease a controlled function

This form is referred to in the relevant rule in SUP 10C Annex 5. This form must be used when an approved person ceases to perform one or more controlled functions.

If an approved person ceases to perform controlled functions in respect of a number of firms within the same group, a single Form C may be used, ensuring all firms are clearly marked on the Form.

A firm must submit to the FCA/PRA a completed Form C no later than seven business days after an approved person ceases to perform a controlled function.

Additionally, a forward dated request will not be actioned by the FCA/PRA until 7 days before the stated effective day becomes operable.

If a firm has reasonable grounds for believing that it will submit a qualified Form C, it must notify the FCA/PRA of the fact as soon as practicable.

The Form C is qualified if:

  1. the firm submitting Form C reasonably believes that the information it contains may affect the FCA/PRA’s assessment of an approved person’s fitness and propriety; or
  2. a firm dismisses, or suspends, an approved person from its employment; or
  3. an approved person resigns whilst under investigation by the firm, the FCA/PRA or any other regulatory body.
  4. Firms are reminded that they should be open and honest with the FCA/PRA as per Principle 11. Any information provided must be factual and able to be substantiated. The FCA/PRA reserves the right to use the information provided in carrying out its regulatory functions.

Notification of a qualified Form C must be made in writing by either fax or email and should be made, where possible, within one business day of the firm becoming aware of the information. If the firm does not submit Form C, it should inform the FCA/PRA in due course of the reason. This could be done using Form D, if appropriate.

A firm is responsible for notifying the FCA/PRA if any approved person has ceased to perform a controlled function under an arrangement entered into by its appointed representative or former appointed representative.

Form D – Notifications of changes in personal information

This is Form D referred to in the relevant guidance and rule in SUP 10C Annex 6. The firm must use this Form to inform the FCA/PRA of changes in the personal details of an approved person or a change in the details of an application to perform controlled functions). It is not necessary to notify the FCA/PRA of changes in an approved person’s private address.

The firm must also keep the FCA/PRA informed of any significant circumstances directly affecting an approved person and which any reasonable person would consider relevant to the approved person’s position under the FCA/PRA rules.

The firm is required to notify the FCA/PRA of any matter, in relation to an approved person, that would normally be declared when giving the information required for the Fitness and Propriety section of the application to perform controlled functions or matters considered in FIT 2.

Do not use this form if the approved person requires approval in respect of further controlled functions or has ceased to perform controlled functions.

Form E – Internal transfer of a controlled function

Indicate clearly if a question is not applicable. Tick the appropriate box where a yes/no answer is required. Further details should be given in the Supplementary Information section if there is insufficient space for a detailed answer.

Do not assume that information is known to the FCA/PRA merely because it is in the public domain, or has been previously disclosed to the FCA/PRA or to another regulatory body. In all circumstances, disclosures should be full, frank and unambiguous. If there is any doubt about the relevance of information, it should be included. The information supplied by the candidate should be verified by the firm wherever possible. If the FCA/PRA's vetting checks reveal any matters that have not been disclosed, then applications will be delayed and, in some cases, possibly rejected. See SUP 10A.13.12G.

Expressions in this Form in italics have the meaning given in the Glossary to the FCA/PRA’s Handbook (or, if no meaning is given there, the expressions are to be interpreted in accordance with the related expression defined in the Glossary).

The firm is responsible for the completion of the Form. If the Form is not fully and correctly completed, the FCA/PRA may need to return it for proper completion. This could significantly delay the FCA/PRA's decision on whether to grant approval to perform the requested controlled functions (see SUP 10A.13.12G).

The FCA/PRA may require the applicant to provide further information at any time after receiving an application and before determining whether it is to be granted or not (see SUP 10A.13.14G).

If a firm has provided, or has information that reasonably suggests that it may have provided, the FCA/PRA with information which was or has become false, misleading, incomplete or inaccurate, in a material particular, it must notify the FCA/PRA immediately (see SUP 15.6.4R). Failure to notify the FCA/PRA may result in a delay in processing or rejection.

Form F – Changes in notified persons

This is Form F referred to in SUP 15.4.1R (2).

Membership of the governing body of an overseas firm with a branch in the United Kingdom is not a controlled function requiring approval of the FCA/PRA under the approved persons regime. The rule at SUP 15.4.1R (Notified persons) is not made under the powers conferred on the FCA/PRA by Part V of the Act and the Statements of Principle do not apply to a person notified to the FCA/PRA under SUP 15.4.1R unless he is also an approved person.

An overseas firm (excluding an incoming firm) must notify the FCA/PRA within 30 business days of any person taking up or ceasing to hold the following positions (see SUP 15.4.1R):

  • the firm’s world-wide chief executive if the person is based outside the United Kingdom;
  • the person, if not the world-wide chief executive, within the overseas firm with a purely strategic responsibility for UK operations (see SUP 10A.7.4G);
  • for a bank: the two or more persons who effectively direct its business in accordance with SYSC4.2.2R;
  • for an insurer: the authorised UK representative.

These notifications must be submitted using this Form. However, if the person is an approved person, notification can be made by letter giving details of his name and the position to which the notification relates (see SUP 15.4.1R (2)).

If adverse information is revealed about a person notified to the FCA/PRA under SUP 15.4.1R, the FCA/PRA may exercise its own-initiative power against the firm (see SUP 15.4.4G).

Candidate details

Address history

A full 3 year history for United Kingdom addresses must be given for the candidate. Any gaps must be fully explained or a statement provided in either the address history or Supplementary Information section of the form, stating that the individual resides abroad.

Withdrawal of controlled function

If an approved person has been dismissed or requested to resign, or the firm has any doubts about their fitness and propriety, a full explanation of the reason for the dismissal or resignation must be provided. If the firm ticks the box marked ‘Suspension’, the firm will have to reapply (using Form A) for the individual to perform controlled functions again.

Application of arrangements and controlled functions

Arrangements and controlled functions

The firm must tick the box that most accurately describes its arrangement with the candidate. For applications from a single firm, the firm should complete the questions indicating the controlled functions required by selecting the appropriate box. However, if the application is being made on behalf of a candidate who will carry out controlled functions for more than one firm, the appropriate box must used to describe the controlled functions and the relationships between the candidate and those firms.

If this application relates to more than one appointed representative, provide details in the Supplementary Information section.

The effective date is the date on which the firm wishes the candidate to begin performing controlled functions (subject to approval). This should be left blank unless there is a reason for the effective date to be beyond the FCA/PRA’s published standard response times. For instance, a firm may wish to be sure that a candidate has been approved before they take up their post.

Unless the firm indicates otherwise, the FCA/PRA assumes that the arrangement given on the application form includes all of the activities that fall within the description of the controlled function. This means that a firm may alter a candidate’s responsibilities within the broad description of a controlled function without needing further approval from the FCA/PRA.

Insurance distribution

This is not a controlled function in its own right. However, every firm that carries on insurance distribution activities must appoint a senior manager or director who will be responsible for insurance distribution activities at the firm (this individual does not need to hold a senior management function). This responsibility must be allocated to a member of the governing body of the firm or in certain circumstances, a senior manager.

Please note that insurance distribution is not applicable to Appointed Representatives.

Effective date

The effective date is the date on which the firm wishes the candidate to begin performing controlled functions (subject to approval). This should be left blank unless there is a reason for the effective date to be beyond the FCA/PRA’s published standard response times.

Notified persons

Changes to notified persons

The notified position to which the Form being submitted relates should be identified, including effective date and, if applicable, the name of individual being replaced.

Employment history for the past 5 years

(Not applicable for a short application)

A full five-year employment history for the candidate must be provided including their current employment at the time of application, with all gaps explained. If the record of employment does not go back five years, all periods of education and unemployment must be indicated. Full details of any periods of self-employment must be included. Always give the address of the actual place of employment, rather than a central head office.

The employment history should be provided in reverse chronological order, starting with the most recent period of employment, unemployment etc, but excluding the activity to which this notification relates.

“Regulatory body” in this context means the bodies listed in the notes to section 5. For further information please see the Form A notes.

State the position held by the candidate and a brief explanation of his or her duties. If the candidate’s job title included the word “director” but his or her duties did not include those associated with the title of director, as defined in the Glossary, this should be indicated.

The reason for leaving each employer must be given. If there were any issues arising on leaving that could affect the Fitness and Propriety of the individual, these must be fully explained in the Fitness and Propriety section. Previous employers may be contacted and the omission of relevant details may result in applications being delayed and, in some cases, possibly rejected.

Candidates who are applying for significant influence functions (CF 1 to 12, 28 or 29) are required to upload their curriculum vitae (CV), unless the application is for a governing function of an appointed representative. This is only applicable to short form applicants if they have never previously held a significant function or, if the previous submission of their CV when applying for a significant function, has altered from their previous application.

Fitness and propriety

(Not applicable for a short application)

Answer the question by ticking the relevant ‘yes’ or ‘no’ box. If the answer to any of the questions is ‘yes’, give complete details in the Supplementary Information section and attach relevant supporting documentation.

For further information please see the Form A notes.

Supplementary information

This section provides space for any additional information. It should be used to disclose additional information about 'yes' answers in the Fitness and Propriety section of the full Form A and any information which is not the subject of a specific question in that section, but is relevant to the consideration of fitness and propriety. For more information on the factors which the FCA/PRA takes into account when considering applications, please refer to 'FIT' in the FCA/PRA Handbooks.

For further information please see the Form A notes.

Declarations and signatures

Form A

This section contains declarations which must be signed by both an appropriate individual for the firm or applicant submitting the application and the candidate. Signatures MUST NOT be dated more than 3 months prior to the date of submission of the application. The FCA/PRA considers that an appropriate individual would either be an individual approved for a controlled function described under section 59(5) of the Financial Services & Markets Act or someone to whom the firm has delegated the authority to notify the FCA/PRA. If this authority has been delegated, the firm should keep records of those individuals authorised to sign on behalf of the firm. All signatures submitted on forms should be originals

Incoming EEA Firms undertaking non-MiFID business must confirm by using the tick box that the candidate is competent to perform the controlled function(s) for which this application is made.

If you have any questions or need additional information, please contact the Customer Contact Centre on 0300 500 0597.

Form C

An appropriate individual must sign the declaration for the firm submitting the Form. The FCA/PRA considers that an appropriate individual would either be an individual approved for a controlled function described under section 59(5) of the Financial Services & Markets Act or someone to whom the firm has delegated the authority to notify the FCA/PRA. If this authority has been delegated, the firm should keep records of those individuals authorised to sign on behalf of the firm.

Only the firm that made the original application (Form A) may sign this Form except where that individual is the only remaining individual at the firm (e.g. Sole Trader).

Form E

This section contains declarations which must be signed by both an appropriate individual for the firm or applicant submitting the application and the candidate. The FCA/PRA considers that an appropriate individual would either be an individual approved for a controlled function described under section 59(5) of the Financial Services and Markets Act or someone to whom the firm has delegated the authority to notify the FCA/PRA. If this authority has been delegated, the firm should keep records of those individuals authorised to sign on behalf of the firm.

Form F

This section contains declarations which must be signed by both an appropriate individual for the firm or applicant submitting the application and the notified person. The FCA/PRA considers that an appropriate individual would be someone to whom the firm has delegated the authority to notify the FCA/PRA. The firm should keep records of those individuals authorised to sign on behalf of the firm.

Page updates

13/08/2020: Link changed Link to Form A notes updated
13/08/2020: Link changed Link to Form A notes updated