Prudential Regulation Authority Rulebook

3.1

Where a grandfathering notification is required pursuant to 2.1, a firm must ensure that it sets out the following details in respect of each approved person or candidate:

1. (1) each of the pre-implementation controlled functions for which the person is approved, or (in the case of a candidate) has a pending application, in relation to the firm;
2. (2) each senior insurance management function to be performed by the person on and after the commencement date in relation to the firm; and
3. (3) each FCA function (if any) to be performed by the person on and after the commencement date in relation to the firm.

3.2

The PRA directs that a firm must not specify in a grandfathering notification a senior insurance management function or FCA function for a person which is not an equivalent function in the table in 6 or the table in SUP TP 7.2.3R in the FCA Handbook in relation to:

1. (1) (for an approved person) any pre-implementation controlled functions for which the person has approval in relation to the firm; or
2. (2) (for a candidate) any pre-implementation controlled functions in respect of which there is a pending application.

3.3

The PRA directs that a firm must list in the grandfathering notification each approved person or candidate who, on the commencement date, will be acting in the capacity of a non-executive director but who will not be performing a senior insurance management function or FCA function.