Statements of Principle for Approved Persons

Statement of Principle 1: An Approved Person must act with integrity in carrying out his controlled function.

Statement of Principle 2: An Approved Person must act with due skill, care and diligence in carrying out his controlled function.

Statement of Principle 3: An approved Person must observe proper standards of market conduct in carrying out his controlled function.

Statement of Principle 4: An Approved Person must deal with the FCA and with other regulators in an open and cooperative way and must disclose appropriately any information of which the FCA would reasonably expect notice.

Statement of Principle 5: An Approved Person performing a significant influence function must take reasonable steps to ensure that the business of the firm for which he is responsible in his controlled function is organised so that it can be controlled effectively.

Statement of Principle 6: An Approved Person performing a significant influence function must exercise due skill, care and diligence in managing the business of the firm for which he is responsible in his controlled function.

Statement of Principle 7: An Approved Person performing a significant influence function must take reasonable steps to ensure that the business of the firm for which he is responsible in his controlled function complies with the relevant requirements and standards of the regulatory system.