This is the new version of the new FCA Handbook website. Help us improve it by giving your feedback.

Home FCA Handbook APER APER 1
You are viewing APER 1 Application and purpose as of . APER 1 Application and purpose was last updated on 01/01/2021.

APER 1.1A Application

Who?

07/12/2020R

APER applies to FCA-approved persons who are approved to perform a controlled function in SUP 10A (FCA Approved Persons in Appointed Representatives).

What?

07/12/2020R
  1. (1)

    APER applies to the performance by an approved person of FCA controlled functions in SUP 10A (FCA Approved Persons in Appointed Representatives) (whether or not approval has been sought and granted).

  2. (2)

    APER also applies to the performance by an approved person of any other functions in relation to the carrying on of a regulated activity by their authorised approved person employer.

  3. (3)

    Subject to (4), APER does not apply to conduct to which COCON applies.

  4. (4)

    APER applies to conduct to which COCON does not apply under COCON 1.1.8AR (To what conduct does it apply?).

  5. (5)

    APER does not apply to conduct unless it is within the scope of section 64A of the Act (Rules of conduct).

07/03/2016G

The functions described in APER 1.1A.2R are called accountable functions.

Where?

01/01/2021G

The territorial scope of the approved persons regime is set out in SUP 10A.1.

APER 1.2 Purpose

07/03/2016G

The Statements of Principle contained in APER 2 are rules made under section 64A(1)(a) of the Act (Rules of conduct).

07/03/2016G

The guidance in APER 3 and APER 4 is guidance on the Statements of Principle and is called the Code of Practice for Approved Persons.

07/03/2016G

The Code of Practice for Approved Persons sets out descriptions of conduct which, in the opinion of the FCA, do or do not comply with a Statement of Principle. The Code of Practice for Approved Persons also sets out, in certain cases, factors which, in the opinion of the FCA, are to be taken into account in determining whether or not an approved person's conduct complies with a Statement of Principle.

01/04/2013G

As set out in SUP 10A.3.1 R (Provisions related to the Act), a function is a controlled function only to the extent that it is performed under an arrangement entered into by:

  1. (1)

    a firm; or

  2. (2)

    a contractor of the firm;

in relation to the carrying on by the firm of a regulated activity.