APER 2
The Statements of Principle for Approved Persons
APER 2.1B
The Statements of Principle
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APER 2.1B.1
See Notes
APER 2.1B.3P sets out the Statements of Principle issued by the PRA to which APER 1.2.1B G refers and to which the provisions of the Code of Practice for Approved Persons and guidance in APER 3 and APER 4 apply. The paragraphs of APER 1.1B labelled "P" also form part of the Statements of Principle.
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APER 2.1B.2
See Notes
An approved person will not be subject to a Statement of Principle to the extent that it would be contrary to the UK's obligations under a Single Market Directive or the auction regulation.
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APER 2.1B.3
See Notes
Statements of Principle issued under section 64 of the Act
| Statement of Principle 1 An approved person must act with integrity in carrying out his accountable functions. |
| Statement of Principle 2 An approved person must act with due skill, care and diligence in carrying out his accountable functions. |
| Statement of Principle 3 [Not used] |
| Statement of Principle 4 An approved person must deal with the FCA, the PRA and other regulators in an open and cooperative way and must disclose appropriately any information of which the FCA or the PRA would reasonably expect notice. |
| Statement of Principle 5 An approved person performing an accountable function must take reasonable steps to ensure that the business of the firm for which he is responsible in his accountable function is organised so that it can be controlled effectively. |
| Statement of Principle 6 An approved person performing an accountable function must exercise due skill, care and diligence in managing the business of the firm for which he is responsible in his accountable function. |
| Statement of Principle 7 An approved person performing an accountable function must take reasonable steps to ensure that the business of the firm for which he is responsible in his accountable function complies with the relevant requirements and standards of the regulatory system. |
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