Prudential Regulation Authority Rulebook

1.1

1. (1) This Part applies to every function a person (P) performs in relation to a firm (A) that is:
1. (a) a CRR firm;
2. (b) a credit union; or
3. (c) a third country CRR firm in relation to:
1. (i) the activities of its establishment in the UK; or
2. (ii) if it does not have an establishment in the UK, activities in the UK.
2. (2) This Part only applies if P:
1. (a) is approved under section 59 of FSMA to perform a senior management function in relation to A;
2. (b) is an employee of A that should have been so approved;
3. (c) is an employee or director who is performing a function that would have been a controlled function but for Senior Management Functions 2.3;
4. (d) performs a certification function in relation to A;
5. (e) is a Conduct Rules non-executive director of A; or
6. (f) is a person in relation to whom a notice under section 59ZZA has been or could be given by the PRA to an authorised person.
3. (3) 3.1 to 3.3 only apply to a person in (2)(a), (b), or (f).
4. (4) 3.4 only applies to a person in (2)(a), (b), (e) or (f).

1.2

In this Part, the following definitions shall apply:

director

means, in relation to a firm, a person who is a member of the board of directors of the firm or, if there is no such board, the equivalent body responsible for the management of the firm.

employee

has the meaning given in Certification 1.2.

senior management function

means either a PRA senior management function or an FCA designated senior management function.