UK ISPVs | Prudential Regulation Authority Handbook & Rulebook
Prudential Regulation Authority Rulebook

Prudential Regulation Authority Rulebook

Part

Insurance - Senior Management Functions

Chapter

UK ISPVs

Printed on: 21/06/2025

Rulebook at: 16/12/2022


12

UK ISPVs

12.1

This Chapter applies only to firms that are UK ISPVs.

  • 07/03/2016

12.2

The following PRA senior management functions do not apply to a UK ISPV:

  1. (1) Chief Risk function (SMF4);
  2. (2) Head of Internal Audit function (SMF5);
  3. (2A) Head of Key Business Area function (SMF6);
  4. (3) Chair of Risk Committee function (SMF10);
  5. (4) Chair of Audit Committee function (SMF11);
  6. (5) Chair of Remuneration Committee function (SMF12);
  7. (6) Senior Independent Director function (SMF14);
  8. (7) Head of Third Country Branch function (SMF19);
  9. (8) With-Profits Actuary function (SMF20a);
  10. (9) Chief Underwriting Officer function (SMF23); and
  11. (10) Chief Operations function (SMF24).
  • 10/12/2018