Part XXIII Public Record, Disclosure of Information and Co-operation

The public record

347 The record of authorised persons etc.

(1)

The F1FCA must maintain a record of every—

(a)

person who appears to the F1FCA to be an authorised person;

(b)

authorised unit trust scheme;

F2(ba)

authorised contractual scheme;

(c)

authorised open-ended investment company;

(d)

recognised scheme;

(e)

recognised investment exchange;

F3(f)

. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

(g)

individual to whom a prohibition order F4F5or Part 9C prohibition order F4, Part 9C prohibition order or Part 18 prohibition order relates;

(h)

approved person; F6. . .

F7(hza)

Part 18 approved person;

F8(ha)

person to whom subsection (2A) applies; F9...

F10(hb)

appointed representative to whom subsection (2B) applies;

F11(hc)

appointed representative to whom subsection (2C) applies; and

(i)

person falling within such other class (if any) as the F1FCA may determine.

(2)

The record must include such information as the F1FCA considers appropriate and at least the following information—

(a)

in the case of a person appearing to the F1FCA to be an authorised person—

(i)

information as to the services which he holds himself out as able to provide; and

(ii)

any address of which the F1FCA is aware at which a notice or other document may be served on him;

(b)

in the case of an authorised unit trust scheme, the name and address of the manager and trustee of the scheme;

F12(ba)

in the case of an authorised contractual scheme, the name and address of the operator and depositary of the scheme;

(c)

in the case of an authorised open-ended investment company, the name and address of—

(i)

the company;

(ii)

if it has only one director, the director; and

(iii)

its depositary (if any);

(d)

in the case of a recognised scheme, the name and address of—

(i)

the operator of the scheme; and

(ii)

any representative of the operator in the United Kingdom;

(e)

in the case of a recognised investment exchange F13... the name and address of the exchange F14...;

(f)

in the case of an individual to whom a prohibition order F15, Part 9C prohibition order or Part 18 prohibition order relates—

(i)

his name; and

(ii)

details of the effect of the order;

(g)

in the case of a person who is an approved person—

(i)

his name;

(ii)

the name of the F16authorised person concerned;

(iii)

if the approved person is performing a controlled function under an arrangement with a contractor of the F17authorised person concerned, the name of the contractor.

F18(iv)

F19... whether or not the person is a senior manager;

F20(h)

in the case of an approved person who is a senior manager in relation to F21an authorised person—

(i)

whether a final notice has been given to the person under section 390; and

(ii)

if so, any information about the matter to which the notice relates which has been published under section 391(4).

F22(ha)

in the case of a person who is a Part 18 approved person—

(i)

the person’s name;

(ii)

the name of the relevant recognised body concerned;

(iii)

if the Part 18 approved person is performing a designated senior management function under an arrangement with a contractor of the relevant recognised body concerned, the name of the contractor;

(iv)

whether a final notice has been given to the person under section 390;

(v)

if so, any information about the matter to which the notice relates which has been published under section 391(4);

F23(i)

in the case of a mortgage intermediary—

(i)

the names of the persons within the management who are responsible for the activities specified by article 25A (arranging regulated mortgage contracts), article 36A (credit broking), article 53A (advising on regulated mortgage contracts) and article 53DA (advising on regulated credit agreements the purpose of which is to acquire land) of the Financial Services and Markets Act 2000 (Regulated Activities) Order 2001; and

(ii)

whether the mortgage intermediary is a tied mortgage intermediary or not;

(j)

in the case of an appointed representative to whom subsection (2B) applies, the name of the mortgage intermediary on whose behalf the appointed representative acts;

F24(2A)

This subsection applies to—

(a)

an appointed representative to whom subsection (1A) F25or (1AA) of section 39 applies for whom the applicable register (as defined by subsection (1B) of that section) is the record maintained by virtue of subsection (1)(ha) above; F26and

(b)

a person mentioned in subsection (1)(a) of section 39A if—

(i)

the contract with an authorised person to which he is party complies with the applicable requirements (as defined by subsection (7) of that section), and

(ii)

the authorised person has accepted responsibility in writing for the person's activities in carrying on investment services business (as defined by subsection (8) of that section); F27...

F28(c)

. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

F29(2B)

This subsection applies to an appointed representative to whom section 39(1BA) applies or to whom that subsection would apply if the requirements of section 39(1BB) were not met.

F30(2C)

This subsection applies to an appointed representative of an authorised person who has a Part 4A permission by virtue of regulation 4 or 7 of the Financial Services and Markets Act 2000 (Markets in Financial Instruments) Regulations 2017 (S.I. 2017/XXXX).

(3)

If it appears to the F1FCA that a person in respect of whom there is an entry in the record as a result of one of the paragraphs of subsection (1) has ceased to be a person to whom that paragraph applies, the F1FCA may remove the entry from the record.

F31(3A)

But if a person ceases to be a person to whom one of the paragraphs of subsection (1) applies as a F32result of a cancellation of that person's Part 4A permission under section 55J because one or more of the conditions in section 55K(1)(b) to (d) was met, the power conferred by subsection (3) is not exercisable for a period of five years from the date on which the person ceased to be a person to whom subsection (1) applied.

(3B)

Where the power conferred by subsection (3) is not exercisable in respect of an entry in the record as a result of subsection (3A) the FCA must—

(a)

make a note in the record that it considers the person to whom the entry relates has ceased to be person to whom one of the paragraphs of subsection (1) applies as a result of a cancellation of that person’s Part 4A permission for a reason mentioned in subsection (3A)(a) or (b); and

(b)

state why it considers that is the case.

(4)

But if the F1FCA decides not to remove the entry, it must—

(a)

make a note to that effect in the record; and

(b)

state why it considers that the person has ceased to be a person to whom that paragraph applies F33in any case where it has not already done so under subsection (3B).

F34(4A)

If the FCA cancels or varies the Part 4A permission of a mortgage intermediary and as a result the person to whom the entry relates no longer has a Part 4A permission to carry on a relevant mortgage activity within the meaning of section 55J(6C), the FCA must delete mention of such permission from the record without undue delay.

(5)

The F1FCA must—

(a)

make the record available for inspection by members of the public in a legible form at such times and in such place or places as the F1FCA may determine; and

(b)

provide a certified copy of the record, or any part of it, to any person who asks for it—

(i)

on payment of the fee (if any) fixed by the F1FCA; and

(ii)

in a form (either written or electronic) in which it is legible to the person asking for it.

(6)

The F1FCA may—

(a)

publish the record, or any part of it;

(b)

exploit commercially the information contained in the record, or any part of that information.

(7)

“Authorised unit trust scheme”, F35“authorised contractual scheme”, “authorised open-ended investment company” and “recognised scheme” have the same meaning as in Part XVII, and associated expressions are to be read accordingly.

(8)

“Approved person” F36(except in the expression “Part 18 approved person”) means a person in relation to whom the F37FCA or the PRA has given its approval under section 59 and “controlled function” and “arrangement” have the same meaning as in that section.

F38(8ZA)

“Part 18 approved person” means a person in relation to whom the FCA has given its approval under section 309G.

F39(8A)

In this section—

F40...

F41...

“senior manager”, in relation to F42an authorised person, means a person who has approval under section 59 to perform a designated senior management function in relation to the carrying on by the authorised person of a regulated activity, and

“designated senior management function” F43F44has the meaning given by section 59ZB. F43—

(a)

in relation to an authorised person, has the meaning given by section 59ZB;

(b)

in relation to a relevant recognised body, has the meaning given by section 309G(3);

F45“relevant recognised body” has the same meaning as in Chapter 2A of Part 18 (see section 309A).

F46(9)

The authorised person concerned”, in relation to an approved person, means the person on whose application approval F47under section 59 was given.

F48(10)

“The relevant recognised body concerned”, in relation to a Part 18 approved person, means the relevant recognised body on whose application approval under section 309G was given.