FCA Handbook - SYSC 1 Application and purpose

You are viewing SYSC 1 Application and purpose as of . SYSC 1 Application and purpose was last updated on 27/02/2026.

Guidance

Rules

Deleted

Related resources

SYSC 1.1A Application

[ Note : ESMA has also issued guidelines under article 16(3) of the ESMA Regulation covering:

- various topics relating to automated trading and direct electronic access. See

http://www.esma.europa.eu/sites/default/files/library/2015/11/esma_2012_122_en.pdf

- certain aspects of the MiFID suitability requirements which also deal with the system and control aspects of suitability. See http://www.esma.europa.eu/sites/default/files/library/2015/11/2012-387_en.pdf .]

The application of this sourcebook is summarised at a high level in the following table. The detailed application is cut back in SYSC 1 Annex 1 and in the text of each chapter.

Type of firm	Applicable chapters
Insurer, UK ISPV	Chapters 2, 3, 12 to 18, 19F.2, 21, 22, 23, 24, 25, 26, 27, 28, 28A
Managing agent	Chapters 2, 3, 11, 12, 15A, 18, 19F.2, 21, 22, 23, 24, 25, 26, 27, 28, 28A
Society	Chapters 2, 3, 12, 15A, 18, 19F.2, 21, 22, 23, 24, 25, 26, 27, 28, 28A
Any other SMCR firm	Chapters 4 to 12, 15A, 18, 19D, 19F, 19G, 21, 22, 23, 24, 25, 26, 27, 28, 28A
Every other firm	Chapters 4 to 12, 15A, 18, 19D, 19F, 19G, 21, 22, 28, 28A

Firms that SYSC 19D applies to should also refer to the Remuneration part of the PRA Rulebook.

The application of this sourcebook to specificfirms that are not PRA-authorised persons is summarised at a high level in the following table. The detailed application is cut back in SYSC 1 Annex 1 and in the text of each chapter.

Type of firm	Applicable chapters
Full-scope UK AIFM	Chapters 4 to 10, 12, 18, 19B, 19F.2, 21, 22, 23, 24, 25, 26, 27, 28, 28A

MIFIDPRU investment firm (including an overseas firm that would have been a MIFIDPRU investment firm if it had been a UK domestic firm, except that SYSC 19G does not apply to such a firm)	Chapters 4 to 10, 12, 18, 19F, 19G, 21, 22, 23, 24, 25, 26, 27, 28, 28A

Chapter 15A of this sourcebook also applies to:

(1)
an electronic money institution, a payment institution and a registered account information service provider;
(2)
a UK RIE.

as set out in the text of that chapter.

The provisions in SYSC should be read in conjunction with GEN 2.2.23 R to GEN 2.2.25 G. In particular:

(1)
[deleted]
(2)
Provisions made by the FCA, and by thePRA in the PRA Rulebook, may be applied by both regulators to PRA-authorised persons. Such provisions are applied by each regulator to the extent of its powers and regulatory responsibilities.
(3)
For Solvency II firms, the FCA considers that the requirements and guidance in Chapters 2, 3, 12 to 18, 19F.2, 21, 22 and 28 of SYSC are not inconsistent with:
1. (a)
  the parts of the PRA Rulebook which implemented the governance provisions in the Solvency II Directive (articles 40 to 49);
2. (b)
  the Solvency II Regulation, or
3. (c)
  EIOPA guidelines on systems of governance dated 28 January 2015 (EIOPA-BoS-14/253 EN).
In most cases, there is no direct overlap with those provisions because the SYSC requirements are directed at FCA conduct requirements not expressly covered by or under provisions which implemented or supplemented the Solvency II Directive. Where there is a direct overlap with SYSC rules and guidance, the FCA will take requirements and guidelines which implemented or supplemented the Solvency II Directive into account. The definition of Solvency II firm includes (for SYSC) large non-directive insurers because the PRA have applied certain Solvency II derived requirements to those firms. Where SYSC refers to the PRA Rulebook applicable to Solvency II firms, large non-directive insurers should read those references as if they were references to the corresponding part of the PRA Rulebook applicable to large non-directive insurers.

SYSC 1.2 Purpose

The purposes of SYSC are:

(1)
to encourage firms' directors and senior managers to take appropriate practical responsibility for their firms' arrangements on matters likely to be of interest to the FCA because they impinge on the FCA’s functions under the Act;
(2)
to increase certainty by amplifying Principle 3, under which a firm must take reasonable care to organise and control its affairs responsibly and effectively, with adequate risk management systems;
(3)
to encourage firms to vest responsibility for effective and responsible organisation in specific directors and senior managers; and
(4)
to create a common platform of organisational and systems and controls requirements for all firms.
(5)
[deleted]

SYSC 1.4 Application of SYSC 12 to 28A

What?

The application of each of chapters SYSC 12 to SYSC 21 is set out in those chapters and in SYSC 1.4.1A R.

The application of each of the chapters SYSC 19F.2, SYSC 22 to SYSC 28A is set out in those chapters.

SYSC 12 and SYSC 21 do not apply to a firm in relation to its carrying on of auction regulation bidding.

Apart from SYSC 12, and SYSC 21 which are disapplied by SYSC 1.4.1A R, the other chapters of SYSC 12 to SYSC 14 do not apply in relation to a firm's carrying on of auction regulation bidding because they only apply to an insurer. SYSC 18 provides guidance on the Public Interest Disclosure Act. Other chapters of SYSC may not apply to auction regulation bidding, for example because an exempt MiFID commodities firm will not be a MIFIDPRU investment firm.

Actions for damages

A contravention of a rule in SYSC 12 to SYSC 14, SYSC 18 to SYSC 21, SYSC 22.8.1R, SYSC 22.9.1R or SYSC 23 to SYSC 28A does not give rise to a right of action by a private person under section 138D of the Act (and each of those rules is specified under section 138D(3) of the Act as a provision giving rise to no such right of action).

SYSC 1.5 Significant SYSC firm

Purpose

(1)
The purpose of SYSC 1.5 is to set out the definition of a significant SYSC firm.
(2)
The following governance requirements in SYSC apply by reference to the term significant SYSC firm:
1. (a)
  SYSC 4.3A.6R on the limitations in the number of directorships;
2. (b)
  SYSC 4.3A.8R on the nomination committee; and
3. (c)
  SYSC 7.1.18R and SYSC 7.1.18AAR on the risk committee.
(3)
MIFIDPRU investment firms are not subject to SYSC 4.3A.8R or SYSC 7.1.18R, and should refer instead to MIFIDPRU 7.3.
(4)
The definition of significant SYSC firm is also relevant in determining whether a firm is an enhanced scope SMCR firm for the purposes of the senior managers and certification regime.

Definition of a significant SYSC firm

A firm is a significant SYSC firm if it meets one or more of the following conditions:

(1)
its total assets exceed £530 million;
(2)
its total liabilities exceed £380 million;
(3)
the annual fees and commission income it receives in relation to the regulated activities carried on by the firm exceeds £160 million in the 12-month period immediately preceding the date the firm carries out the assessment under this rule;
(4)
the client money that it receives or holds exceeds £425 million; and
(5)
the assets belonging to its clients that it holds in the course of, or in connection with, its regulated activities exceeds £7.8 billion.

(1)
This rule defines some of the terms used in SYSC 1.5.2R.
(2)
“Total assets” means the firm’s total assets:
1. (a)
  as set out in the most recent relevant report submitted to the FCA under SUP 16.12 (Integrated Regulatory Reporting); or
2. (b)
  (where the firm carries out the assessment under SYSC 1.5.4R at any time after the date of its most recent report in (a)) as the firm would report to the FCA in accordance with the relevant report, as if the reporting period for that report ended on the date of the assessment.
(3)
“Total liabilities” means the firm’s total liabilities:
1. (a)
  as set out in the most recent relevant report submitted to the FCA under SUP 16.12 (Integrated Regulatory Reporting); or
2. (b)
  (where the firm carries out the assessment under SYSC 1.5.4R at any time after the date of its most recent report in (a)) as the firm would report to the FCA in accordance with the relevant report, as if the reporting period for that report ended on the date of the assessment.
(4)
“client money” means client money that a firm receives or holds in the course of, or in connection with, all of the regulated activities that it carries on:
1. (a)
  as set out in the relevant questions in a CCR009 return submitted to the FCA under SUP 16.12 (Integrated Regulatory Reporting); or
2. (b)
  (where the firm carries out the assessment under SYSC 1.5.4R at any time after the date of its most recent report in (a)) as the firm would report to the FCA in accordance with the relevant report, as if the reporting period for that report ended on the date of the assessment.
(5)
“Assets belonging to its clients” means the assets to which the custody rules apply:
1. (a)
  as set out in the relevant questions in a CCR009 return submitted to the FCA under SUP 16.12 (Integrated Regulatory Reporting); or
2. (b)
  (if the firm carries out the assessment under SYSC 1.5.4R at any time after the date of its most recent report in (a)) as the firm would report to the FCA in accordance with the relevant report, as if the reporting period for that report ends on the date the assessment is carried out.

A firm must assess regularly whether it becomes a significant SYSC firm.

(1)
If a firm, at any time, becomes aware that it is likely to become a significant SYSC firm, it must forthwith make arrangements to establish and have in place sound, effective and comprehensive strategies, processes and systems to achieve compliance with the requirements that apply to a significant SYSC firm.
(2)
The firm in (1) must comply with the requirements that apply to a significant SYSC firm on the expiry of a period of 3 months from the date it meets any one of the conditions in SYSC 1.5.2R.

If a firm that is a significant SYSC firm ceases to meet any of the conditions in SYSC 1.5.2R, it must continue to comply with the rules and requirements applicable to a significant SYSC firm until the first anniversary of the date on which the firm ceased to be a significant SYSC firm.

The FCA may, on a case-by-case basis, require a firm which does not meet any of the conditions in SYSC 1.5.2R to comply with the rules and requirements that apply to a significant SYSC firm if the FCA considers it appropriate to do so to meet its strategic objective or to advance one or more of its operational objectives under the Act.

(1)
A firm may apply to the FCA under section 138A of the Act to waive any one or more of the conditions in SYSC 1.5.2R if it believes that one or more of the governance requirements in (2) that apply to a significant SYSC firm may be disproportionate. In its application for a waiver, the FCA expects the firm to demonstrate that it should not be considered as significant, taking into account the size, nature, scope and complexity of its activities, any membership of a group and the internal organisation of that group.
(2)
The governance requirements referred to in (1) are:
1. (a)
  SYSC 4.3A.6R on the limitations in the number of directorships;
2. (b)
  SYSC 4.3A.8R on the nomination committee; or
3. (c)
  SYSC 7.1.18 R on the risk committee.
(3)
The effect of such waiver is that the firm would not be a significant SYSC firm only for the purpose of the particular governance requirement in (2) that the waiver is expressed to apply to. For the avoidance of doubt, such a firm would still be a significant SYSC firm for the purpose of the other rules in the FCA Handbook that apply to a significant SYSC firm, except where expressly otherwise provided for.

SYSC 1 Annex 1 Detailed application of SYSC

Part 1	Application of SYSC 2 and SYSC 3 to an insurer, a UK ISPV, a managing agent and the Society
	Who?
1.1	R	SYSC 2 and SYSC 3 only apply to an insurer , a UK ISPV , a managing agent and the Society except that:
		(1)	[deleted]



		(2)	[deleted]
		(3)	[deleted]
		(4)	for a sole trader :
			(a)	SYSC 2 applies but only if he employs any person who is required to be approved under section 59 of the Act (Approval for particular arrangements);
			(b)	SYSC 3.2.6I R does not apply if he has no employees ; and
		(5)	[deleted]
		(6)	Except as provided for in (7), SYSC 2 and SYSC 3 do not apply to a firm in relation to benchmark activities .
		(7)	SYSC 2 and SYSC 3 continue to apply to a person with permission to carry on the regulated activity of administering a specified benchmark acting as such.
1.1A	G	(1)	As a consequence of the benchmarks regulation , the regulated activity referred to in SYSC 1 Annex 1 1.1R(7) will cease to apply in certain circumstances (see SUP TP 10 for an explanation of those circumstances).
		(2)	The effect of SYSC 1 Annex 1 1.1R(7) is that SYSC 2 and SYSC 3 continue to apply to firms which still have permission to carry on the regulated activity in SYSC 1 Annex 1 1.1R(7) when carrying on that activity.
1.2	G		[deleted]



	What?
1.3	R	SYSC 2 and SYSC 3 apply with respect to the carrying on of:
		(1)	regulated activities ;
		(2)	activities that constitute dealing in investments as principal , disregarding the exclusion in article 15 of the Regulated Activities Order (Absence of holding out etc);
		(3)	ancillary activities in relation to designated investment business , home finance activity and insurance distribution activity ; and
		(4)	activities directly arising from insurance risk transformation ;
		except that SYSC 3.3 applies as described in SYSC 1 Annex 1 1.3AR and SYSC 3.2.6A R to SYSC 3.2.6J G do not apply as described in SYSC 1 Annex 1 .1.4R.
1.3A	R	SYSC 3.3 only applies in relation to the carrying on of insurance distribution activities .
1.4	R	SYSC 3.2.6A R to SYSC 3.2.6J G do not apply:
		(1)	with respect to the activities described in SYSC 1 Annex 1 .1.3R(2) and SYSC 1 Annex 1 .1.3R(3); or
		(2)	in relation to the following regulated activities :
			(a)	general insurance business ;
			(aa)	insurance risk transformation ;
			(b)	insurance distribution activity in relation to a general insurance contract or pure protection contract ;
			(c)	long-term insurance business which is outside the scope of the Solvency II Directive (unless it is otherwise one of the regulated activities specified in this rule );
			(d)	business relating to contracts which are within the Regulated Activities Order only because they fall within paragraph (e) of the definition of "contract of insurance" in article 3 of that Order;
			(e)	(i)	arranging, by the Society , of deals in general insurance contracts written at Lloyd's; and
				(ii)	managing the underwriting capacity of a Lloyd's syndicate as a managing agent at Lloyd's ;
			(f)	home finance mediation activity and administering a home finance transaction ; and
			(g)	reversion activity ; or
		(3)	to a pure reinsurer ; or
		(4)	in relation to activities directly arising from insurance risk transformation .
1.5	R	SYSC 2 and SYSC 3 , except SYSC 3.2.6A R to SYSC 3.2.6J G , also apply with respect to the communication and approval of financial promotions which:
		(1)	if communicated by an unauthorised person without approval would contravene section 21(1) of the Act (Restrictions on financial promotion); and
		(2)	may be communicated by a firm without contravening section 238(1) of the Act (Restrictions on promotion of collective investment schemes).
1.6	R	SYSC 2 and SYSC 3 , except SYSC 3.2.6A R to SYSC 3.2.6J G , also:
		(1)	apply with respect to the carrying on of unregulated activities in a prudential context ; and
		(2)	take into account any activity of other members of a group of which the firm is a member.
1.7	G	SYSC 1 Annex 1 .1.6R(2) does not mean that inadequacy of a group member's systems and controls will automatically lead to a firm contravening, for example, SYSC 3.1.1 R . Rather, the potential impact of a group member's activities, including its systems and controls, and any systems and controls that operate on a group basis, will be relevant in determining the appropriateness of the firm's own systems and controls.
	Where?
1.8	R	SYSC 2 and SYSC 3 apply with respect to activities carried on from an establishment maintained by the firm (or its appointed representative or, where applicable, its tied agent ) in the United Kingdom unless another applicable rule which is relevant to the activity has a wider territorial scope, in which case SYSC 2 and SYSC 3 apply with that wider scope in relation to the activity described in that rule .
1.8A	R	(1) SYSC 3 , except SYSC 3.2.6AR to SYSC 3.2.6JG , and (2) for a UK domestic firm , SYSC 2 ; also apply in a prudential context with respect to activities wherever they are carried on.
1.9	R	SYSC 2 and SYSC 3 , except SYSC 3.2.6A R to SYSC 3.2.6J G , also apply in a prudential context to a UK domestic firm with respect to activities wherever they are carried on.
1.10	R	SYSC 3 , except SYSC 3.2.6A R to SYSC 3.2.6J G , also applies in a prudential context to an overseas firm with respect to activities wherever they are carried on.
1.11	G	(1)	In considering whether to take regulatory action under SYSC 2 or SYSC 3 in relation to activities carried on outside the United Kingdom , the appropriate regulator will take into account the standards expected in the market in which the firm is operating.
		(2)	Most of the rules in SYSC 3 are linked to other requirements and standards under the regulatory system which have their own territorial limitations so that those SYSC rules are similarly limited in scope.
	Actions for damages
1.12	R	A contravention of the rules in SYSC 2 and SYSC 3 does not give rise to a right of action by a private person under section 138D of the Act (and each of those rules is specified under section 138D(3) of the Act as a provision giving rise to no such right of action).

Part 2	Application of the common platform requirements (SYSC 4 to 10)
	Who?
2.1	R	The common platform requirements apply to every firm apart from an insurer , a UK ISPV , a managing agent and the Society unless provided otherwise in a specific rule .
2.2	R	[deleted]
2.3	R	For a sole trader :
		(1)	SYSC 4.3 does not apply as long as they do not employ any person who is required to be approved under section 59 of the Act (Approval for particular arrangements);
		(2)	SYSC 4.1.4 R and SYSC 6.3.9 R do not apply if he has no employees .
2.4	R	For a UCITS qualifier :
		(1)	the rule on responsibility of senior personnel ( SYSC 4.3 ) does not apply; and
		(2)	the common platform requirements apply in relation to the communication and approval of financial promotions only as set out in SYSC 1 Annex 1 .2.12R.
		[ Note : section 266 of the Act .]
2.4A	R	For an AIFM qualifier :
		(1)	the rule on responsibility of senior personnel ( SYSC 4.3 ) does not apply; and
		(2)	the common platform requirements apply in relation to the communication and approval of financial promotions only as set out in SYSC 1 Annex 1 , 2.12R.
2.5	R	For an authorised professional firm when carrying on non-mainstream regulated activities , the common platform requirements on financial crime , conflicts of interest and Chinese walls do not apply.
2.5A	R	The common platform requirements on financial crime do not apply to a firm for which a professional body listed in Schedule 1 to the Money Laundering Regulations , and not the FCA , acts as the supervisory authority for the purposes of those regulations.
2.6	R	[deleted]
2.6A	R	[deleted]
2.6B	R	Subject to SYSC 1 Annex 1 2.6CR, the common platform requirements do not apply to a full-scope UK AIFM of an unauthorised AIF except for:
		(1)	SYSC 4.1.1 R to SYSC 4.1.2 R and SYSC 4.1.2B R to SYSC 4.1.2D R ;
		(2)	SYSC 4.2.1 R , SYSC 4.2.1B R , SYSC 4.2.2 R to SYSC 4.2.5 G , SYSC 4.2.7 R and SYSC 4.2.8 G ;
		(3)	SYSC 6.1.1 R , which only applies to the extent that it relates to the obligation to establish, implement and maintain adequate policies and procedures for countering the risk that the firm (including its managers and employees ) might be used to further financial crime ;
		(4)	SYSC 6.1.4-AAG
		(5)	SYSC 6.3 ;
		(6)	SYSC 7.1.7BA G
		(7)	SYSC 10.1.1 R and SYSC 10.1.22 R to SYSC 10.1.26 R ; and
		(8)	SYSC 10.2 .
2.6C	R	The common platform requirements apply to an AIFM investment firm which is a full-scope UK AIFM in respect of its MiFID business in line with Column A in Table A of Part 3.
2.6D	R	The common platform requirements apply to a full-scope UK AIFM of an authorised AIF in line with Column A++ in Table A of Part 3.
2.6E	G	The common platform requirements apply to a small authorised UK AIFM in line with Column B in Table A of Part 3 (unless such a firm is also a common platform firm , in which case they must comply with Column A).
2.6F	R	[deleted]
2.6G	R	(1)	Except as provided for in (2), the common platform requirements do not apply to a firm in relation to benchmark activities .
		(2)	The common platform requirements continue to apply to a person with permission to carry on the regulated activity of administering a specified benchmark acting as such.
2.6H	G	(1)	As a consequence of the benchmarks regulation , the regulated activity referred to in SYSC 1 Annex 1 2.6GR(2) will cease to apply in certain circumstances (see SUP TP 10 for an explanation of those circumstances).
		(2)	The effect of SYSC 1 Annex 1 2.6GR(2) is that the common platform requirements continue to apply to firms which still have permission to carry on the regulated activity in SYSC 1 Annex 1 2.6GR(2) when carrying on that activity.
2.7	G	[deleted]
2.7A	G	[deleted]
2.7B	R	(1)	Subject to SYSC 1 Annex 1 2.7BR(2), the common platform requirements do not apply to a Gibraltar-based investment firm.
		(2)	A Gibraltar-based investment firm, when carrying on what would otherwise be MiFID business, must comply with the:
			(a)	common platform requirements on financial crime; and
			(b)	common platform record-keeping requirements in accordance with SYSC 1 Annex 1 2.17R.
	What?
2.8	R	The common platform organisational requirements apply with respect to the carrying on of the following (unless provided otherwise within a specific rule ):
		(1)	regulated activities ;
		(2)	activities that constitute dealing in investments as principal , disregarding the exclusion in article 15 of the Regulated Activities Order (Absence of holding out etc);
		(3)	ancillary activities ;
		(4)	in relation to MiFID business , ancillary services ; and
		(5)	collective portfolio management .
2.8A	R	(1)	[deleted]
		(1A)	[deleted]
		(2)	[deleted]
		(3)	[deleted]
		(4)	[deleted]
		(5)	The requirements in SYSC 9.1.1B and SYSC 9.1.2-AR do not apply to a firm to the extent that SYSC 9.1.2CR applies to the firm.
		(6)	[deleted]
2.8B	G	[deleted]
2.8C	G	[deleted]
2.8D	G	[deleted]
2.9	G	The application of the provisions on the conflicts of interest in SYSC 10 is set out in SYSC 10.1.-4G to SYSC 10.1.1AR and SYSC 10.2.1 R
2.10	R	The provisions on record-keeping in SYSC 9, SYSC 4.1.1-AR, SYSC 5.1.1R, SYSC 5.1.6R, SYSC 5.1.12R, SYSC 5.1.13R and SYSC 5.1.14R, apply as set out in SYSC 1 Annex 1 .2.8R, except that they only apply to the carrying on of ancillary activities that are performed in relation to:
		(1)	designated investment business ;
		(2)	home finance activity ;
		(3)	insurance distribution activity ;
		(4)	credit-related regulated activity ; and
		(5)	regulated pensions dashboard activity .
2.11	R	The common platform requirements on financial crime apply as set out in SYSC 1 Annex 1 2.8R, except that they do not apply:
		(1)	with respect to:
			(a)			activities that constitute dealing in investments as principal , disregarding the exclusion in article 15 of the Regulated Activities Order (Absence of holding out etc); and
			(b)			ancillary activities ; or
		(2)	in relation to the following regulated activities :
			(a)			general insurance business ;
			(b)			insurance distribution activity in relation to a general insurance contract or pure protection contract ;
			(c)			long-term insurance business which is outside the Solvency II Directive (unless it is otherwise one of the regulated activities specified in this rule );
			(d)			business relating to contracts which are within the Regulated Activities Order only because they fall within paragraph (e) of the definition of "contract of insurance" in article 3 of that Order;
			(e)			(i)	arranging by the Society of deals in general insurance contracts written at Lloyd's; and
						(ii)	managing the underwriting capacity of a Lloyd's syndicate as a managing agent at Lloyd's ;
			(f)			home finance mediation activity and administering a home finance transaction ;
			(g)			reversion activity ;
			(h)			meeting of repayment claims and managing dormant asset funds (including the investment of such funds) ; and
			(i)			regulated funeral plan activities .
2.12	R	The common platform organisational requirements , except the common platform requirements on financial crime , also apply with respect to the communication and approval of financial promotions which:
		(1)	if communicated by an unauthorised person without approval would contravene section 21(1) of the Act (Restrictions on financial promotion); and
		(2)	may be communicated by a firm without contravening section 238(1) of the Act (Restrictions on promotion of collective investment schemes).
2.13	R	The common platform organisational requirements , except the common platform requirements on financial crime , also:
		(1)	apply with respect to the carrying on of unregulated activities in a prudential context ; and
		(2)	take into account any activity of other members of a group of which the firm is a member.
2.13A	R	SYSC 6.3 only applies to a firm in relation to carrying on a credit-related regulated activity or regulated claims management activity , or operating an electronic system in relation to lending , to which the Money Laundering Regulations also apply.
2.13B	R	SYSC 6.3.8 R and SYSC 6.3.9 R do not apply to a firm with a limited permission for entering into a regulated credit agreement as lender .
2.13C	G	The persons to whom the Money Laundering Regulations apply are set out in regulation 10 of the Money Laundering Regulations . The persons include credit institutions (for example, banks) and financial institutions (for example, persons who carry on regulated activities which consist of or include entering into regulated credit agreements as lender ). These expressions are defined in regulation 10 of those Regulations.
2.14	G	SYSC 1 Annex 1 .2.13R(2) does not mean that inadequacy of a group member's systems and controls will automatically lead to a firm contravening any of the common platform organisational requirements . Rather, the potential impact of a group member's activities, including its systems and controls, and any systems and controls that operate on a group basis, will be relevant in determining the appropriateness of the firm's own systems and controls.
2.14A	G	The systems and control requirements in article 17 of MiFID for the following are in chapter 7A of the Market Conduct sourcebook ( MAR ):
		(1)			algorithmic trading ;
		(2)			direct electronic access to a trading venue ; and
		(3)			acting as a general clearing member of a trading venue .
2.14B	G	Firms should refer to COBS 11A.1 (Underwriting and placing) for additional organisational requirements for underwriting and placing.
2.14C	R	References to designated investment business include selling, or advising clients in relation to structured deposits.
	Where?
2.15	R	The common platform requirements , except the common platform record-keeping requirements , apply to a firm in relation to activities which:
		(1)	(except for regulated claims management activities and ancillary activities) are carried on by it from an establishment in the United Kingdom ; or
		(2)	are, or are ancillary to, regulated claims management activities .
2.16	R	[deleted]
2.16A	R		[deleted]
2.16B	G	[deleted]
2.16C	R	The common platform requirements apply to a full-scope UK AIFM in respect of its management of an AIF where carried on from an establishment in the UK .
2.16D	R	[deleted]
2.16E	R	The common platform requirements apply to an AIFM investment firm which is a full-scope UK AIFM in respect of its MiFID business where carried on from an establishment in the UK .
2.16F	R	[deleted]
2.17	R	The common platform record-keeping requirements apply to activities which:
		(1)	(except for regulated claims management activities and ancillary activities) are carried on by it from an establishment in the United Kingdom ; or
		(2)	are, or are ancillary to, regulated claims management activities .
		If, however, another applicable rule which is relevant to the activity has a wider territorial scope, the common platform record-keeping requirements apply with that wider scope in relation to the activity described in that rule .
		[ Note : article16(11) first paragraph of MiFID ]
2.17A	G	For an activity to amount to a regulated claims management activity it must be carried on in Great Britain (see PERG 2.4A ). Subject to the exception for common platform record-keeping requirements in paragraph 2.17R of this Annex, the application of the common platform requirements to firms which carry on regulated claims management activities (and ancillary activities) depends on whether the activity is carried on in Great Britain rather than whether it is carried on from an establishment maintained in the United Kingdom .
		The common platform organisational requirements , except the common platform requirements on financial crime , also apply in a prudential context to a UK domestic firm and to an overseas firm with respect to activities wherever they are carried on.
2.18A	G	SYSC 6.1.1R on systems and controls for countering the risk that a firm might be used to further financial crime is:
		(1)		a common platform organisational requirement , not a common platform requirement on financial crime ; and
		(2)		subject to the application, amongst other provisions, of SYSC 1 Annex 1 2.13R, SYSC 1 Annex 1 2.16R and SYSC 1 Annex 1 2.18R.
	Actions for damages
2.19	R	A contravention of a rule in the common platform requirements and in SYSC 10A (Recording telephone conversations and electronic communications) does not give rise to a right of action by a private person under section 138D of the Act (and each of those rules is specified under section 138D(3) of the Act as a provision giving rise to no such right of action).

Part 3	Tables summarising the application of the common platform requirements to different types of firm
3.1	G	The common platform requirements apply as described in the following table (subject to the provisions in Part 2 of this Annex (Application of the common platform requirements)).
		Type of firm		Common platform requirements
		Common platform firm		SYSC 1 Annex 1 3.2G
		Management company		SYSC 1 Annex 1 3.2AG
		Full-scope UK AIFM of an authorised AIF		SYSC 1 Annex 1 3.2BR
		MiFID optional exemption firm		SYSC 1 Annex 1 3.2CR
		Third country firm		SYSC 1 Annex 1 3.2CR
		All other firms (apart from insurers , managing agents , the Society , full-scope UK AIFMs of unauthorised AIFs , MiFID optional exemption firms and third country firms )		SYSC 1 Annex 1 .3.3R
3.1A	G	[deleted]
Common platform firm
3.2	G	For a common platform firm:
		(1)	SYSC 4 to SYSC 10 apply in accordance with Column A in Table A below.
		(2)	[deleted]
3.2-ZA	G	A common platform firm that is a MIFIDPRU investment firm should read SYSC 4 to SYSC 10 together with MIFIDPRU 7 . While MIFIDPRU investment firms are not in scope of the requirements in SYSC 4.3A.8R and SYSC 7.1.18R regarding nomination and risk committees, certain MIFIDPRU investment firms are required by MIFIDPRU 7.3.1R and MIFIDPRU 7.3.5R to establish nomination and risk committees.
3.2-A	R	[deleted]
3.2-B	R	[deleted]
Management company
3.2A	G	For a management company , the common platform requirements in SYSC 4 to SYSC 10 apply in accordance with Column A+ in Table A below.
Full-scope UK AIFM of an authorised AIF
3.2B	R	For a full-scope UK AIFM of an authorised AIF , the common platform requirements in SYSC 4 to SYSC 10 apply in accordance with Column A++ in Table A below.
MiFID optional exemption firm and a third country firm
3.2C	R	For a MiFID optional exemption firm and a third country firm :
		(1)	SYSC 4 to SYSC 10 apply as rules or as guidance in accordance with Table B below in the following way:
			(a)	where a rule is shown modified as 'Guidance', it should be read as guidance (as if "should" appeared in that rule instead of "must"); and
			(b)	the provision should be applied in a proportionate manner, taking into account the nature, scale and complexity of the firm’s business.
		(2)	[deleted]
3.2D	R	(1)	Subject to (2), SYSC 4.3A.6R , SYSC 4.3A.8R and SYSC 7.1.18R apply to a MiFID optional exemption firm that is ‘significant’ as a rule or as guidance in accordance with SYSC 1 Annex 1 3.2CR.
		(2)	In (1), ‘significant’ means a MiFID optional exemption firm that is a significant SYSC firm .
Other firms
3.2E	R	SYSC 1 Annex 1 3.3R does not apply to the following:
		(1)	insurers and UK ISPVs ;
		(2)	managing agents ;
		(3)	the Society ;
		(4)	full-scope UK AIFMs of unauthorised AIFs ;
		(5)	MiFID optional exemption firms ; and
		(6)	third country firms .
3.3	R	For all other firms :
		(1)	SYSC 4 to SYSC 10 apply as rules or as guidance in accordance with Column B in Table A below in the following way:
			(a)	where a rule is shown modified in Column B as 'Guidance', it should be read as guidance (as if "should" appeared in that rule instead of "must"); and
			(b)	the provision should be applied in a proportionate manner, taking into account the nature, scale and complexity of the firm’s business.
		(2)	[deleted]
3.3A	R	[deleted]

Table A: Application of the common platform requirements in SYSC 4 to SYSC 10

Provision SYSC 4	COLUMN A Application to a common platform firm other than to a UCITS investment firm	COLUMN A+ Application to a UCITS management company	COLUMN A++ Application to a full-scope UK AIFM of an authorised AIF	COLUMN B Application to all other firms apart from insurers, UK ISPVs, managing agents, the Society, full-scope UK AIFMs of unauthorised AIFs, MiFID optional exemption firms and third country firms
SYSC 4.1.-2G	Guidance	Not applicable save in relation to a UCITS investment firm and its MiFID business	Not applicable	Not applicable
SYSC 4.1.-1G	Not applicable	Not applicable	Not applicable	Not applicable
SYSC 4.1.1R	Rule	Rule	Rule	Rule
SYSC 4.1.1-AR	Rule	Rule for a UCITS investment firm; otherwise not applicable	Not applicable	Not applicable
SYSC 4.1.1AR	Not applicable	Not applicable	Rule	Not applicable
SYSC 4.1.1BR	Not applicable	Not applicable	Rule	Not applicable
SYSC 4.1.1CR	[deleted]	[deleted]	[deleted]	[deleted]
SYSC 4.1.1DR	Not applicable	Rule	Not applicable	Not applicable
SYSC 4.1.1ER	Not applicable	Rule	Not applicable	Not applicable
SYSC 4.1.1FG	Not applicable	Guidance	Not applicable	Not applicable
SYSC 4.1.2R	Rule	Rule for a UCITS investment firm ; otherwise guidance	Rule	Guidance
SYSC 4.1.2AG	Not applicable	Guidance for a UCITS firm ; not applicable to a UCITS investment firm	Not applicable	Guidance
SYSC 4.1.2AAR	[deleted]	[deleted]	[deleted]	[deleted]
SYSC 4.1.2BR	Not applicable	Rule	Rule	Not applicable
SYSC 4.1.2CR	Not applicable		Rule	Not applicable
SYSC 4.1.2DR	Not applicable	Not applicable	Rule	Not applicable
SYSC 4.1.3R	[deleted]	[deleted]	[deleted]	[deleted]
SYSC 4.1.4R	Not applicable	Rule	Not applicable	(1) and (3): Guidance; (2): Rule
SYSC 4.1.4AG	Not applicable	Not applicable	Not applicable	Guidance
SYSC 4.1.5R	Not applicable	Rule	Not applicable	Not applicable
SYSC 4.1.5AR	Not applicable	Not applicable	Not applicable	Applies as a rule only to a firm carrying on regulated pensions dashboard activity
SYSC 4.1.5BR	Not applicable	Not applicable	Not applicable	Applies as a rule only to a firm carrying on regulated pensions dashboard activity
SYSC 4.1.5CR	Not applicable	Not applicable	Not applicable	Applies as a rule only to a firm carrying on regulated pensions dashboard activity
SYSC 4.1.6R	Rule	Rule for a UCITS investment firm ; otherwise guidance	Not applicable	Guidance
SYSC 4.1.7R	Rule CRR firm for a only	Rule	Not applicable	Guidance
SYSC 4.1.7AG	Not applicable	Not applicable	Not applicable	Guidance
SYSC 4.1.8G	Guidance	Guidance	Guidance	Guidance
SYSC 4.1.8AR	Applies as a rule only to an operator of an electronic system in relation to lending	Not applicable	Not applicable	Applies as a rule only to an operator of an electronic system in relation to lending
SYSC 4.1.8CG	Applies as guidance only to an operator of an electronic system in relation to lending	Not applicable	Not applicable	Applies as guidance only to an operator of an electronic system in relation to lending
SYSC 4.1.8DG	Applies as guidance only to an operator of an electronic system in relation to lending	Not applicable	Not applicable	Applies as guidance only to an operator of an electronic system in relation to lending
SYSC 4.1.8DAG	Applies as guidance only to an operator of an electronic system in relation to lending	Not applicable	Not applicable	Applies as guidance only to an operator of an electronic system in relation to lending
SYSC 4.1.8DBR	Applies as a rule only to an operator of an electronic system in relation to lending	Not applicable	Not applicable	Applies as a rule only to an operator of an electronic system in relation to lending
SYSC 4.1.8DCR	Applies as a rule only to an Applies as a rule only to an operator of an electronic system in relation to lending	Not applicable	Not applicable	Applies as a rule only to an operator of an electronic system in relation to lending
SYSC 4.1.8DDR	Applies as a rule only to an operator of an electronic system in relation to lending	Not applicable	Not applicable	Applies as a rule only to an operator of an electronic system in relation to lending
SYSC 4.1.9R	Not applicable	Rule	Not applicable	Not applicable
SYSC 4.1.10R	Not applicable	Rule	Not applicable	Guidance - except reference to SYSC 4.1.9 R which does not apply to these firms
SYSC 4.1.10AG	Not applicable	Not applicable	Not applicable	Guidance
SYSC 4.1.11G	Guidance	Guidance	Guidance	Guidance
SYSC 4.1.13G	Guidance	Guidance	Guidance	Guidance
SYSC 4.1.14G	Guidance	Guidance	Guidance	Guidance
SYSC 4.2.1R	Rule	Rule	Rule	Guidance
SYSC 4.2.1AG	Not applicable	Not applicable	Not applicable	Guidance
SYSC 4.2.2R	Rule	Rule	Rule	Not applicable
SYSC 4.2.3G - 4.2.5G	Guidance	Guidance	Guidance	Not applicable
SYSC 4.2.6R	Rule	Rule for a UCITS investment firm ; otherwise not applicable	Not applicable	Not applicable
SYSC 4.2.7R	Not applicable	Not applicable	Rule	Not applicable
SYSC 4.2.8G	Not applicable	Not applicable	Rule	Not applicable
SYSC 4.2.9G	[deleted]	[deleted]	[deleted]	[deleted]
SYSC 4.3.1R	Not applicable	Rule	Not applicable	Rule
SYSC 4.3.2R	Not applicable	Rule	Not applicable	Guidance but applies as a rule to an operator of an electronic system in relation to lending
SYSC 4.3.2-AR	Rule	Rule for a UCITS investment firm in relation to its MiFID business; otherwise not applicable	Not applicable	Not applicable
SYSC 4.3.2AG	Not applicable	Not applicable	Not applicable	Guidance (but not applicable to an operator of an electronic system in relation to lending )
SYSC 4.3.3G	Guidance	Guidance	Not applicable	Guidance
SYSC 4.3A.-1R	[deleted]	[deleted]	[deleted]	[deleted]
SYSC 4.3A.1R	Rule	Rule for a UCITS investment firm	Not applicable	Not applicable
SYSC 4.3A.1AR	Rule	Rule for a UCITS investment firm	Not applicable	Not applicable
SYSC 4.3A.2R	Rule	Rule for a UCITS investment firm	Not applicable	Not applicable
SYSC 4.3A.2AG	Guidance	Guidance for a UCITS investment firm	Not applicable	Not applicable
SYSC 4.3A.3R	Rule	Rule for a UCITS investment firm	Not applicable	Not applicable
SYSC 4.3A.3AG	Guidance	Guidance for a UCITS investment firm	Not applicable	Not applicable
SYSC 4.3A.4R	Rule	Rule for a UCITS investment firm	Not applicable	Not applicable
SYSC 4.3A.5R	Rule	Rule for a UCITS investment firm	Not applicable	Not applicable
SYSC 4.3A.6R	Rule	Rule for a UCITS investment firm	Not applicable	Not applicable
SYSC 4.3A.7R	Rule	Rule for a UCITS investment firm	Not applicable	Not applicable
SYSC 4.3A.7AR	Rule (except for a MIFIDPRU investment firm )	Not applicable	Not applicable	Not applicable
SYSC 4.3A.7BG	Guidance for a MIFIDPRU investment firm	Guidance for a UCITS investment firm	Not applicable	Not applicable
SYSC 4.3A.8R	Rule (except for a MIFIDPRU investment firm )	Not applicable	Not applicable	Not applicable
SYSC 4.3A.9R	Rule	Rule for a UCITS investment firm	Not applicable	Not applicable
SYSC 4.3A.10R	Rule	Rule for a UCITS investment firm	Not applicable	Not applicable
SYSC 4.3A.11R	Rule applicable to CRR firms	Not applicable	Not applicable	Not applicable
SYSC 4.4.1R	[deleted]	[deleted]	[deleted]	[deleted]
SYSC 4.4.1AR	Not applicable	Not applicable	Not applicable	As specified in SYSC 4.4.1AR
SYSC 4.4.2G	Not applicable	Not applicable	Not applicable	Guidance only applying to the firms specified in SYSC 4.4.1A R
SYSC 4.4.3R	Not applicable	Not applicable	Not applicable	Rule only applying to the firms specified in SYSC 4.4.1A R
SYSC 4.4.4G	Not applicable	Not applicable	Not applicable	Guidance only applying to the firms specified in SYSC 4.4.1A R
SYSC 4.4.5R	Not applicable	Not applicable	Not applicable	Rule only applying to the firms specified in SYSC 4.4.1A R
SYSC 4.4.6G	Not applicable	Not applicable	Not applicable	Guidance only applying to the firms specified in SYSC 4.4.1A R

Provision SYSC 5	COLUMN A Application to a common platform firm other than to a UCITS investment firm	COLUMN A+ Application to a UCITS management company	COLUMN A++ Application to a full-scope UK AIFM of an authorised AIF	COLUMN B Application to all other firms apart from insurers, UK ISPVs, managing agents, the Society, full-scope UK AIFMs of unauthorised AIFs, MiFID optional exemption firms and third country firms
SYSC 5.1.-2G	Guidance	Not applicable save in relation to a UCITS investment firm and its MiFID business	Not applicable	Not applicable
SYSC 5.1.-1G	Not applicable	Not applicable	Not applicable	Not applicable
SYSC 5.1.1R	Rule	Rule	Not applicable	Rule
SYSC 5.1.2G	Guidance	Guidance	Guidance	Guidance
SYSC 5.1.3G	Guidance	Guidance	Not applicable	Guidance
SYSC 5.1.3AG	Guidance	Guidance	Guidance	Guidance
SYSC 5.1.4G	Guidance	Guidance	Guidance	Guidance
SYSC 5.1.4AG	Guidance	Guidance	Guidance	Guidance
SYSC 5.1.5G	Guidance	Guidance	Guidance	Guidance
SYSC 5.1.5AG	Guidance	Guidance	Guidance	Guidance
SYSC 5.1.5AAR	Rule	Not applicable save in relation to a UCITS investment firm and its MiFID business	Not applicable	Not applicable
SYSC 5.1.5ABR	Rule	Not applicable save in relation to a UCITS investment firm and its MiFID business	Not applicable	Not applicable
SYSC 5.1.5ACG	Guidance	Not applicable save in relation to a UCITS investment firm and its MiFID business	Not applicable	Not applicable
SYSC 5.1.5ADG				[deleted]
SYSC 5.1.5AEG				[deleted]
SYSC 5.1.5BR	Rule	Rule	Rule	Rule
SYSC 5.1.6R	Rule	Rule	Guidance	Guidance
SYSC 5.1.7R	Rule	Rule for a UCITS investment firm ; otherwise guidance	Guidance	Guidance
SYSC 5.1.7AG	Not applicable	Not applicable to a UCITS investment firm ; otherwise guidance	Guidance	Guidance
SYSC 5.1.8G	Guidance	Guidance	Guidance	Guidance
SYSC 5.1.9G	Guidance	Guidance	Guidance	Guidance
SYSC 5.1.10G	Guidance	Guidance	Guidance, but not applicable for the segregation of risk management functions	Guidance
SYSC 5.1.11G	Guidance	Guidance	Guidance	Guidance
SYSC 5.1.12R	Rule	Rule	Not applicable	Guidance
SYSC 5.1.12AG	Not applicable	Not applicable	Not applicable	Guidance
SYSC 5.1.13R	Rule	Rule	Not applicable	Rule
SYSC 5.1.14R	Rule	Rule	Not applicable	Guidance
SYSC 5.1.15G	Not applicable	Not applicable	Not applicable	Guidance

Provision SYSC 6	COLUMN A Application to a common platform firm other than to a UCITS investment firm	COLUMN A+ Application to a UCITS management company	COLUMN A++ Application to a full-scope UK AIFM of an authorised AIF	COLUMN B Application to all other firms apart from insurers, UK ISPVs, managing agents, the Society, full-scope UK AIFMs of unauthorised AIFs, MiFID optional exemption firms and third country firms
SYSC 6.1.-2G	Guidance	Not applicable save in relation to a UCITS investment firm and its MiFID business	Not applicable	Not applicable
SYSC 6.1.-1G	Not applicable	Not applicable	Not applicable	Not applicable
SYSC 6.1.1R	Rule	Rule	Rule but only regarding the obligation to establish, implement and maintain adequate policies and procedures for countering the risk that the firm (including its managers and employees ) might be used to further financial crime	Rule
SYSC 6.1.1AG	Guidance	Guidance	Guidance	Guidance
SYSC 6.1.2R	Not applicable	Rule	Not applicable	Guidance, but applies as a rule to an operator of an electronic system in relation to lending
SYSC 6.1.2-AR	Rule	Rule for a UCITS investment firm in relation to its MiFID business; otherwise not applicable	Not applicable	Not applicable
SYSC 6.1.2AG	Not applicable	Not applicable	Not applicable	Guidance, but applies as a rule to an operator of an electronic system in relation to lending
SYSC 6.1.3R	Not applicable	Rule	Not applicable	Guidance, but applies as a rule to an operator of an electronic system in relation to lending . For firms other than an operator of an electronic system in relation to lending , this provision shall be read with the following additional sentence at the start. "Depending on the nature, scale and complexity of its business, it may be appropriate for a firm to have a separate compliance function. Where a firm has a separate compliance function, the firm should also take into account SYSC 6.1.3R and SYSC 6.1.4R as guidance."
SYSC 6.1.3-AR	Rule	Rule for a UCITS investment firm in relation to its MiFID business; otherwise not applicable	Not applicable	Not applicable
SYSC 6.1.3-BR	Rule	Rule for a UCITS investment firm in relation to its MiFID business; otherwise not applicable	Not applicable	Not applicable
SYSC 6.1.3-CR	Rule	Rule for a UCITS investment firm; otherwise not applicable	Not applicable	Not applicable
SYSC 6.1.3AG	Not applicable	Not applicable	Not applicable	Guidance, but does not apply to an operator of an electronic system in relation to lending
SYSC 6.1.4R	Not applicable	Rule	Not applicable	(1), (3) and (4): Guidance; (2): - Rule for firms which carry on designated investment business with or for retail clients or professional clients . - Guidance for all other firms . Applies as a rule to an operator of an electronic system in relation to lending .
SYSC 6.1.4-AG	Guidance	Not applicable	Rule	Guidance
SYSC 6.1.4-AAG	Not applicable	Not applicable	Guidance	Not applicable
SYSC 6.1.4-ABG	Guidance applies to relevant authorised persons only	Not applicable	Guidance	Not applicable
SYSC 6.1.4AR	Not applicable	Not applicable	Not applicable	Rule for firms which carry on designated investment business with or for retail clients or professional clients .
SYSC 6.1.4CR	Not applicable	Not applicable	Not applicable	As specified in SYSC 6.1.4CR .
SYSC 6.1.5R	Not applicable	Rule	Not applicable	- Guidance, but applies as a rule to an operator of an electronic system in relation to lending - " investment services and activities " shall be read as "financial services and activities"
SYSC 6.1.5AR	Rule	Rule for a UCITS investment firm; otherwise not applicable	Not applicable	Not applicable
SYSC 6.1.6G	Not applicable	Not applicable	Not applicable	Guidance, but does not apply to an operator of an electronic system in relation to lending
SYSC 6.1.7R	Rule	Rule for a UCITS investment firm ; otherwise not applicable	Not applicable	Guidance
SYSC 6.1.8G	Not applicable	Not applicable	Not applicable	Only applies to an operator of an electronic system in relation to lending
SYSC 6.2.1R	Rule	Rule	Not applicable	Guidance, but applies as a rule to an operator of an electronic system in relation to lending
SYSC 6.2.1AG	Not applicable	Not applicable	Not applicable	Guidance, but does not apply to an operator of an electronic system in relation to lending
SYSC 6.2.1BG	Guidance applies to relevant authorised persons only	Not applicable	Not applicable	Not applicable
SYSC 6.2.2G	Guidance	Guidance	Not applicable	Guidance
SYSC 6.3.1R	Rule	Rule	Rule	Rule For firms carrying on a credit-related regulated activity or regulated claims management activity , or operating an electronic system in relation to lending , applies only where the Money Laundering Regulations apply to the firm . Rule does not apply to a firm for which a professional body listed in Schedule 1 to the Money Laundering Regulations , and not the FCA , acts as the supervisory authority for the purposes of those regulations.(FCA Handbook only)
SYSC 6.3.2G	Guidance	Guidance	Guidance	Guidance For firms carrying on a credit-related regulated activity or regulated claims management activity , or operating an electronic system in relation to lending , applies only where the Money Laundering Regulations apply to the firm . Guidance does not apply to a firm for which a professional body listed in Schedule 1 to the Money Laundering Regulations , and not the FCA , acts as the supervisory authority for the purposes of those regulations.(FCA Handbook only)
SYSC 6.3.3R	Rule	Rule	Rule	Rule For firms carrying on a credit-related regulated activity or regulated claims management activity , or operating an electronic system in relation to lending , applies only where the Money Laundering Regulations apply to the firm . Rule does not apply to a firm for which a professional body listed in Schedule 1 to the Money Laundering Regulations , and not the FCA , acts as the supervisory authority for the purposes of those regulations.(FCA Handbook only)
SYSC 6.3.4G	Guidance	Guidance	Guidance	Guidance For firms carrying on a credit-related regulated activity or regulated claims management activity , or operating an electronic system in relation to lending , applies only where the Money Laundering Regulations apply to the firm . Guidance does not apply to a firm for which a professional body listed in Schedule 1 to the Money Laundering Regulations , and not the FCA , acts as the supervisory authority for the purposes of those regulations. (FCA Handbook only)
SYSC 6.3.5G	Guidance	Guidance	Guidance	Guidance For firms carrying on a credit-related regulated activity or regulated claims management activity , or operating an electronic system in relation to lending , applies only where the Money Laundering Regulations apply to the firm . Guidance does not apply to a firm for which a professional body listed in Schedule 1 to the Money Laundering Regulations , and not the FCA, acts as the supervisory authority for the purposes of those regulations. (FCA Handbook only)
SYSC 6.3.6G	Guidance	Guidance	Guidance	Guidance For firms carrying on a credit-related regulated activity or regulated claims management activity , or operating an electronic system in relation to lending , applies only where the Money Laundering Regulations apply to the firm . Guidance does not apply to a firm for which a professional body listed in Schedule 1 to the Money Laundering Regulations , and not the FCA , acts as the supervisory authority for the purposes of those regulations. (FCA Handbook only)
SYSC 6.3.7G	Guidance	Guidance	Guidance	Guidance For firms carrying on a credit-related regulated activity or regulated claims management activity , or operating an electronic system in relation to lending , applies only where the Money Laundering Regulations apply to the firm . Guidance does not apply to a firm for which a professional body listed in Schedule 1 to the Money Laundering Regulations , and not the FCA , acts as the supervisory authority for the purposes of those regulations. (FCA Handbook only)
SYSC 6.3.8R	Rule	Rule	Rule	Rule For firms carrying on a credit-related regulated activity or regulated claims management activity , or operating an electronic system in relation to lending , applies only where the Money Laundering Regulations apply to the firm . Rule does not apply to a firm with a limited permission for entering into a regulated credit agreement as lender . Rule does not apply to a firm for which a professional body listed in Schedule 1 to the Money Laundering Regulations , and not the FCA , acts as the supervisory authority for the purposes of those regulations. (FCA Handbook only)
SYSC 6.3.9R	Rule	Rule	Rule	Rule For firms carrying on a credit-related regulated activity or regulated claims management activity , or operating an electronic system in relation to lending , applies only where the Money Laundering Regulations apply to the firm . Rule does not apply to a firm with a limited permission for entering into a regulated credit agreement as lender . Rule does not apply to a firm for which a professional body listed in Schedule 1 to the Money Laundering Regulations , and not the FCA , acts as the supervisory authority for the purposes of those regulations (FCA Handbook only). Rule does not apply to a firm carrying on regulated pensions dashboard activity .
SYSC 6.3.10G	Guidance	Guidance	Guidance	Guidance For firms carrying on a credit-related regulated activity or regulated claims management activity , or operating an electronic system in relation to lending , applies only where the Money Laundering Regulations apply to the firm . Guidance does not apply to a firm for which a professional body listed in Schedule 1 to the Money Laundering Regulations , and not the FCA , acts as the supervisory authority for the purposes of those regulations. (FCA Handbook only)
SYSC 6.3.11G	Guidance	Guidance	Guidance	Guidance For firms carrying on a credit-related regulated activity or regulated claims management activity , or operating an electronic system in relation to lending , applies only where the Money Laundering Regulations apply to the firm .Guidance does not apply to a firm for which a professional body listed in Schedule 1 to the Money Laundering Regulations , and not the FCA , acts as the supervisory authority for the purposes of those regulations. (FCA Handbook only)

Provision SYSC 7	COLUMN A Application to a common platform firm other than to a UCITS investment firm	COLUMN A+ Application to a UCITS management company	COLUMN A++ Application to a full-scope UK AIFM of an authorised AIF	COLUMN B Application to all other firms apart from insurers, UK ISPVs, managing agents, the Society, full-scope UK AIFMs of unauthorised AIFs, MiFID optional exemption firms and third country firms
SYSC 7.1.-2G	Guidance	Not applicable save in relation to a UCITS investment firm and its MiFID business	Not applicable	Not applicable
SYSC 7.1.-1G	Not applicable	Not applicable	Not applicable	Not applicable
SYSC 7.1.1G	Guidance	Guidance	Not applicable	Guidance
SYSC 7.1.2R	Not applicable	Rule for a UCITS investment firm	Not applicable	Guidance, but applies as a rule to an operator of an electronic system in relation to lending
SYSC 7.1.2-AR	Rule	Not applicable	Not applicable	Not applicable
SYSC 7.1.2AG	Not applicable	Not applicable to a UCITS investment firm ; otherwise guidance	Not applicable	Guidance, but does not apply to an operator of an electronic system in relation to lending
SYSC 7.1.2BG	Not applicable	Guidance	Not applicable	Not applicable
SYSC 7.1.3R	Rule	Rule for a UCITS investment firm ; otherwise guidance	Not applicable	Guidance, but applies as a rule for an operator of an electronic system in relation to lending
SYSC 7.1.4R	Rule	Rule for a UCITS investment firm ; otherwise guidance	Not applicable	Guidance, but applies as a rule to an operator of an electronic system in relation to lending
SYSC 7.1.4AG	Guidance for a MIFIDPRU investment firm	Guidance for a UCITS investment firm	Not applicable	Guidance
SYSC 7.1.4BG	Not applicable	Rule for a UCITS investment firm ; otherwise guidance	Not applicable	Guidance
SYSC 7.1.5R	Rule	Rule for a UCITS investment firm ; otherwise guidance	Not applicable	Guidance, but applies as a rule to an operator of an electronic system in relation to lending
SYSC 7.1.6R	Rule	Rule for a UCITS investment firm ; otherwise guidance	Not applicable	Guidance, but applies as a rule to an operator of an electronic system in relation to lending
SYSC 7.1.7R	Rule	Rule for a UCITS investment firm ; otherwise guidance	Not applicable	Guidance, but applies as a rule to an operator of an electronic system in relation to lending
SYSC 7.1.7AG	Not applicable	Rule for a UCITS investment firm ; otherwise guidance	Not applicable	Guidance, but does not apply to an operator of an electronic system in relation to lending
SYSC 7.1.7BG	Guidance applicable to a CRR firm	Not applicable	Guidance	Guidance
SYSC 7.1.7BAG	Not applicable	Not applicable	Guidance	Not applicable
SYSC 7.1.7BBG	[deleted]	[deleted]	[deleted]	[deleted]
SYSC 7.1.7BDG	Guidance applies only to a MIFIDPRU investment firm	Guidance applies only to a UCITS investment firm	Not applicable	Not applicable
SYSC 7.1.7CG	Guidance	Guidance	Guidance	Guidance
SYSC 7.1.8G	Guidance	Guidance	Guidance	Guidance
SYSC 7.1.9R	[deleted]	[deleted]	[deleted]	[deleted]
SYSC 7.1.10R	[deleted]	[deleted]	[deleted]	[deleted]
SYSC 7.1.11R	[deleted]	[deleted]	[deleted]	[deleted]
SYSC 7.1.12G	[deleted]	[deleted]	[deleted]	[deleted]
SYSC 7.1.13R - 7.1.16R	[deleted]	[deleted]	[deleted]	[deleted]
SYSC 7.1.16AG	[deleted]	[deleted]	[deleted]	[deleted]
SYSC 7.1.16BG	[deleted]	[deleted]	[deleted]	[deleted]
SYSC 7.1.16CR	[deleted]	[deleted]	[deleted]	[deleted]
SYSC 7.1.17R	Rule applies to a CRR firm	Not applicable	Not applicable	Not applicable
SYSC 7.1.18R	Rule applies to a CRR firm	Not applicable	Not applicable	Not applicable
SYSC 7.1.18AAG	Guidance applies to a CRR firm	Not applicable	Not applicable	Not applicable
SYSC 7.1.18BR	Rule applies to a CRR firm	Not applicable	Not applicable	Not applicable
SYSC 7.1.19R	Rule applies to a CRR firm	Not applicable	Not applicable	Not applicable
SYSC 7.1.20R	Rule applies to a CRR firm	Not applicable	Not applicable	Not applicable
SYSC 7.1.21R	Rule applies to a CRR firm	Not applicable	Not applicable	Not applicable
SYSC 7.1.22R	Rule applies to a CRR firm	Not applicable	Not applicable	Not applicable
SYSC 7.1.23G	Guidance applies to UK relevant authorised persons and third country relevant authorised persons only	Not applicable	Not applicable	Not applicable

Provision SYSC 8	COLUMN A Application to a common platform firm other than to a UCITS investment firm	COLUMN A+ Application to a UCITS management company	COLUMN A++ Application to a full-scope UK AIFM of an authorised AIF	COLUMN B Application to all other firms apart from insurers, UK ISPVs, managing agents, the Society, full-scope UK AIFMs of unauthorised AIFs, MiFID optional exemption firms and third country firms
SYSC 8.1.-2G	Guidance	Not applicable save in relation to a UCITS investment firm and its MiFID business	Not applicable	Not applicable
SYSC 8.1.-1G	Not applicable	Not applicable	Not applicable	Not applicable
SYSC 8.1.1R	Rule	Rule for a UCITS investment firm ; otherwise guidance	Not applicable	Guidance
SYSC 8.1.1AG	Not applicable	Not applicable to a UCITS investment firm ; otherwise guidance	Not applicable	Guidance
SYSC 8.1.2G	Guidance	Guidance	Not applicable	Guidance
SYSC 8.1.3G	Guidance	Guidance	Not applicable	Guidance
SYSC 8.1.4R	Not applicable	Rule for a UCITS investment firm ; otherwise guidance	Not applicable	Guidance
SYSC 8.1.4AR	Rule	Rule for a UCITS investment firm ; otherwise guidance	Not applicable	Not applicable
SYSC 8.1.5R	Rule	Rule for a UCITS investment firm ; otherwise guidance	Not applicable	Guidance
SYSC 8.1.5AG	Not applicable	Rule for a UCITS investment firm ; otherwise guidance	Not applicable	Guidance
SYSC 8.1.6R	Not applicable	Rule for a UCITS investment firm in relation to its non- MiFID business ; otherwise guidance	Not applicable	Rule
SYSC 8.1.6-AR	Rule	Rule for a UCITS investment firm ; otherwise not applicable	Not applicable	Not applicable
SYSC 8.1.6AG	Guidance for a UCITS investment firm in relation to its MiFID business	Not applicable	Not applicable	Not applicable
SYSC 8.1.7R	Rule	Rule for a UCITS investment firm; otherwise guidance	Not applicable	Guidance
SYSC 8.1.8R	Rule	Rule for a UCITS investment firm; otherwise guidance	Not applicable	Guidance
SYSC 8.1.9R	Rule	Rule for a UCITS investment firm ; otherwise guidance	Not applicable	Guidance
SYSC 8.1.10R	Rule	Rule for a UCITS investment firm; otherwise guidance	Not applicable	Guidance
SYSC 8.1.11R	Not applicable	Rule for a UCITS investment firm in relation to its non- MiFID business ; otherwise guidance	Not applicable	Guidance
SYSC 8.1.11-AR	Rule	Rule for a UCITS investment firm in relation to its MiFID business ; otherwise not applicable	Not applicable	Not applicable
SYSC 8.1.11-BR	Rule	Rule for a UCITS investment firm in relation to its MiFID business ; otherwise not applicable	Not applicable	Not applicable
SYSC 8.1.11-CG	Guidance	Guidance for a UCITS investment firm in relation to its MiFID business ; otherwise not applicable	Not applicable	Not applicable
SYSC 8.1.11AG	Not applicable	Not applicable to a UCITS investment firm ; otherwise guidance	Not applicable	Guidance
SYSC 8.1.12G	Guidance	Guidance	Not applicable	Guidance
SYSC 8.1.13R	Not applicable	Rule	Not applicable	Not applicable
SYSC 8.1.14G	Not applicable	Guidance	Not applicable	Not applicable
SYSC 8.2	[deleted]	[deleted]	[deleted]	[deleted]
SYSC 8.3	[deleted]	[deleted]	[deleted]	[deleted]

Provision SYSC 9	COLUMN A Application to a common platform firm other than to a UCITS investment firm	COLUMN A+ Application to a UCITS management company	COLUMN A++ Application to a full-scope UK AIFM of an authorised AIF	COLUMN B Application to all other firms apart from insurers, UK ISPVs, managing agents, the Society, full-scope UK AIFMs of unauthorised AIFs, MiFID optional exemption firms and third country firms
SYSC 9.1.-2G	Guidance	Not applicable save in relation to a UCITS investment firm and its MiFID business	Not applicable	Not applicable
SYSC 9.1.-1G	Not applicable	Not applicable	Not applicable	Not applicable
SYSC 9.1.1R	Not applicable	Rule	Rule but only for the requirement to arrange for orderly records to be kept of its business and internal organisation which do not relate to portfolio transactions and subscription and redemptions orders	Rule
SYSC 9.1.1AR	Rule	Not applicable	Not applicable	Not applicable
SYSC 9.1.1BR	Rule applies only in relation to MiFID business	Rule applies only in relation to MiFID business of a UCITS investment firm	Not applicable	Not applicable
SYSC 9.1.2R	Rule applies only in relation to MiFID business	Rule applies only in relation to MiFID business of a UCITS investment firm	Rule but only for records specified by the modified application of SYSC 9.1.1 R	Not applicable
SYSC 9.1.2-AR	Rule applies only in relation to MiFID business	Rule applies only in relation to MiFID business of a UCITS investment firm	Not applicable	Not applicable
SYSC 9.1.2AR	Rule	Rule	Rule	Rule
SYSC 9.1.2BG	Guidance	Guidance	Guidance	Guidance
SYSC 9.1.2CR	Rule applicable to a firm carrying on insurance distribution in relation to insurance-based investment products	Rule applicable to a firm carrying on insurance distribution in relation to insurance-based investment products	Rule applicable to a firm carrying on insurance distribution in relation to insurance-based investment products	Rule applicable to a firm carrying on insurance distribution in relation to insurance-based investment products

SYSC 9.1.3R	[deleted]	[deleted]	[deleted]	[deleted]
SYSC 9.1.4G	Guidance	Guidance	Guidance	Guidance
SYSC 9.1.5G	Guidance	Guidance	Not applicable	Guidance
SYSC 9.1.6G	Guidance	Guidance	Not applicable	Guidance
SYSC 9.1.6A	Guidance	Guidance	Guidance	Guidance
	[deleted]	[deleted]	[deleted]	[deleted]
SYSC 9.2G	Not applicable	Not applicable	Not applicable	Applicable to credit institutions only

Provision SYSC 10	Column A Application to a common platform firm other than to a UCITS investment firm	COLUMN A+ Application to a UCITS management company	COLUMN A++ Application to a full-scope UK AIFM of an authorised AIF	Column B Application to all other firms apart from insurers, UK ISPVs, managing agents, the Society, full-scope UK AIFMs of unauthorised AIFs, MiFID optional exemption firms and third country firms
SYSC 10.1. -5G	Not applicable	Not applicable	Not applicable	Guidance in relation to funeral plan distribution
SYSC 10.1.-4G	Guidance in relation to insurance distribution activities	Guidance in relation to insurance distribution activities	Guidance in relation to insurance distribution activities	Guidance in relation to insurance distribution activities
SYSC 10.1.-3R	Rule in relation to insurance distribution activities	Rule in relation to insurance distribution activities	Rule in relation to insurance distribution activities	Rule in relation to insurance distribution activities
SYSC 10.1.-2G	Guidance	Guidance in relation to relation to a UCITS investment firm in relation to its MiFID business ; otherwise not applicable	Not applicable	Not applicable
SYSC 10.1.-1G	Not applicable	Not applicable	Not applicable	Not applicable
SYSC 10.1.1R	Rule	Rule	Not applicable	Rule
SYSC 10.1.1AR	Not applicable	Not applicable	Rule	Not applicable
SYSC 10.1.2G	Guidance	Guidance	Guidance in relation to insurance distribution activities . Otherwise, not applicable	Guidance
SYSC 10.1.3R	Rule	Rule	Rule in relation to insurance distribution activities . Otherwise not applicable	Rule
SYSC 10.1.4R	Rule	Rule, but not applicable in relation to insurance distribution activities	Not applicable	Guidance - but applies as a rule in relation to the production or arrangement of investment research, or the production or dissemination of non-independent research, in accordance with COBS 12.2 Not applicable in relation to insurance distribution activities or funeral plan distribution
SYSC 10.1.4AG	Not applicable	Not applicable	Not applicable	Guidance -but not applicable in relation to insurance distribution activities or funeral plan distribution
SYSC 10.1.4BR	Not applicable	Rule in relation to insurance distribution activities	Rule in relation to insurance distribution activities	Rule in relation to insurance distribution activities and funeral plan distribution
SYSC 10.1.4CR	Not applicable	Rule in relation to insurance distribution activities	Rule in relation to insurance distribution activities	Rule in relation to insurance distribution activities and funeral plan distribution
SYSC 10.1.5G	Guidance	Guidance	Not applicable	Guidance
SYSC 10.1.6R	Rule	Rule	Rule in relation to insurance distribution activities . Otherwise, not applicable	Guidance - but applies as a rule: (a) in relation to the production or arrangement of investment research, or the production or dissemination of non-independent research, in accordance with COBS 12.2 ; and (b) in relation to insurance distribution activities and funeral plan distribution
SYSC 10.1.6AG	Not applicable	Not applicable	Guidance - but not applicable in relation to insurance distribution activities	Guidance - but not applicable in relation to insurance distribution activities or funeral plan distribution
SYSC 10.1.6AAR	Rule	Rule in relation to insurance distribution activities	Rule in relation to insurance distribution activities	Rule in relation to insurance distribution activities and funeral plan distribution
SYSC 10.1.6BG	Not applicable	Guidance	Guidance	Guidance
SYSC 10.1.7R	Rule	Rule	Rule in relation to insurance distribution activities . Otherwise not applicable	Rule
SYSC 10.1.7AR	Rule	Rule	Rule	Rule
SYSC 10.1.8R	Rule	Rule	Rule in relation to insurance distribution activities . Otherwise, not applicable	Rule

SYSC 10.1.9G	Guidance	Guidance	Not applicable	Guidance
SYSC 10.1.9AR	Rule	Rule	Rule in relation to insurance distribution activities . Otherwise, not applicable	Guidance - but applies as a rule in relation to insurance distribution activities and funeral plan distribution
SYSC 10.1.10R	Rule	Rule	Rule in relation to insurance distribution activities . Otherwise, not applicable	Guidance - but applies as a rule: (a) in relation to the production or arrangement of investment research, or the production or dissemination of non-independent research, in accordance with COBS 12.2 ; and (b) in relation to insurance distribution activities and funeral plan distribution
SYSC 10.1.11R	Rule	Rule	Rule in relation to insurance distribution activities . Otherwise, not applicable	Guidance - but applies as a rule: (a) in relation to the production or arrangement of investment research, or the production or dissemination of non-independent research, in accordance with COBS 12.2 ; and (b) in relation to insurance distribution activities and funeral plan distribution
SYSC 10.1.11AG	Not applicable	Not applicable	Guidance - but not applicable in relation to insurance distribution activities	Guidance - but not applicable in relation to insurance distribution activities or funeral plan distribution
SYSC 10.1.11AAR	Rule	Rule	Rule in relation to insurance distribution activities	Rule in relation to insurance distribution activities and funeral plan distribution
SYSC 10.1.11ABR	Rule in relation to insurance distribution activities	Not applicable	Not applicable	Not applicable
SYSC 10.1.11BG	Not applicable	Guidance	Guidance	Guidance
SYSC 10.1.12G	Guidance	Guidance	Guidance	Guidance
SYSC 10.1.13 - 10.1.15G	[deleted]	[deleted]	[deleted]	[deleted]
SYSC 10.1.16R	Not applicable	Not applicable	Not applicable	Rule
SYSC 10.1.17R	Not applicable	Rule	Not applicable	Not applicable
SYSC 10.1.18G [FCA]	Not applicable	Guidance	Not applicable	Not applicable
SYSC 10.1.19R	Not applicable	Rule	Not applicable	Not applicable
SYSC 10.1.20R	Not applicable	Rule	Not applicable	Not applicable
SYSC 10.1.21R	Not applicable	Rule	Not applicable	Not applicable
SYSC 10.1.22R	Not applicable	Rule	Rule	Not applicable
SYSC 10.1.23R to SYSC 10.1.26R	Not applicable	Not applicable	Rule	Not applicable
SYSC 10.1A	R Rules applicable to a firm carrying on insurance distribution in relation to insurance-based investment products	R Rules applicable to a firm carrying on insurance distribution in relation to insurance-based investment products	R Rules applicable to a firm carrying on insurance distribution in relation to insurance-based investment products	R Rules applicable to a firm carrying on insurance distribution in relation to insurance-based investment products
SYSC 10.2.1R	Rule	Rule	Rule	Rule
SYSC 10.2.2R	Rule	Rule	Rule	Rule
SYSC 10.2.3G	Guidance	Guidance	Guidance	Guidance
SYSC 10.2.4R	Rule	Rule	Rule	Rule
SYSC 10.2.5G	Guidance	Guidance	Guidance	Guidance

Table B: Application of the common platform requirements in SYSC 4 to 10 to MiFID optional exemption firms and third country firms

Provision	COLUMN A MiFID optional exemption firms	COLUMN B Third country firms
SYSC 4
SYSC 4.1.-2G	Not applicable	Not applicable
SYSC 4.1.-1G	Guidance	Guidance
SYSC 4.1.1R	Rule	Rule
SYSC 4.1.1-AR	Rule	(1)(a): Guidance (1)(b), (c), (d) and first paragraph: Rule (2): Rule (3) to (5): Guidance
SYSC 4.1.1AR	Not applicable	Not applicable
SYSC 4.1.1BR	Not applicable	Not applicable
SYSC 4.1.1DR	Not applicable	Not applicable
SYSC 4.1.1ER	Not applicable	Not applicable
SYSC 4.1.1FG	Not applicable	Not applicable
SYSC 4.1.2R	Rule	Guidance
SYSC 4.1.2AG	Not applicable	Not applicable
SYSC 4.1.2BR	Not applicable	Not applicable
SYSC 4.1.2CR	Not applicable	Not applicable
SYSC 4.1.2DR	Not applicable	Not applicable
SYSC 4.1.4R	Not applicable	Not applicable
SYSC 4.1.4AG	Not applicable	Not applicable
SYSC 4.1.5R	Not applicable	Not applicable
SYSC 4.1.6R	Rule	Guidance
SYSC 4.1.7R	Rule	Guidance
SYSC 4.1.7AG	Not applicable	Not applicable
SYSC 4.1.8G	Guidance	Guidance
SYSC 4.1.8AR	Rule	Rule
SYSC 4.1.8CG	Guidance	Guidance
SYSC 4.1.8DG	Guidance	Guidance
SYSC 4.1.8DAG	Guidance	Guidance
SYSC 4.1.8DBR	Rule	Rule
SYSC 4.1.8DCR	Rule	Rule
SYSC 4.1.8DDR	Rule	Rule
SYSC 4.1.9R	Not applicable	Not applicable
SYSC 4.1.10R	Not applicable	Not applicable
SYSC 4.1.10AG	Not applicable	Not applicable
SYSC 4.1.11G	Guidance	Guidance
SYSC 4.1.13G	Guidance	Guidance
SYSC 4.1.14G	Guidance	Guidance
SYSC 4.2.1R	Rule	Rule
SYSC 4.2.1AG	Not applicable	Not applicable
SYSC 4.2.2R	Rule	Rule
SYSC 4.2.3G - 4.2.5G	Guidance	Guidance
SYSC 4.2.6R	Rule	Rule
SYSC 4.2.7R	Not applicable	Not applicable
SYSC 4.2.8G	Not applicable	Not applicable
SYSC 4.3.1R	Not applicable	Not applicable
SYSC 4.3.2R	Not applicable	Not applicable
SYSC 4.3.2-AR	Guidance	(1) and (2): Rule (3): Guidance
SYSC 4.3.2AG	Not applicable	Not applicable
SYSC 4.3.3G	Guidance	Guidance
SYSC 4.3A.1AR	Rule	Not applicable
SYSC 4.3A.2R	Rule	Not applicable
SYSC 4.3A.2AG	Guidance	Not applicable
SYSC 4.3A.3R	Rule	Not applicable
SYSC 4.3A.3AG	Guidance	Not applicable
SYSC 4.3A.4R	Rule	Not applicable
SYSC 4.3A.5R	Rule	Not applicable
SYSC 4.3A.6R	Rule	Not applicable
SYSC 4.3A.7R	Rule	Not applicable
SYSC 4.3A.8R	Rule	Not applicable
SYSC 4.3A.9R	Rule	Not applicable
SYSC 4.3A.10R	Rule	Not applicable
SYSC 4.3A.11R	Not applicable	Not applicable
SYSC 4.4.1AR	As specified in SYSC 4.4.1AR	As specified in SYSC 4.4.1AR
SYSC 4.4.2G	As specified in SYSC 4.4.1AR	As specified in SYSC 4.4.1AR
SYSC 4.4.3R	As specified in SYSC 4.4.1AR	As specified in SYSC 4.4.1AR
SYSC 4.4.5R	As specified in SYSC 4.4.1AR	As specified in SYSC 4.4.1AR
SYSC 4.4.6G	As specified in SYSC 4.4.1AR	As specified in SYSC 4.4.1AR
Note = SYSC 4.1.8AR to SYSC 4.1.8DDR apply as a rule or guidance , as indicated above, only to an operator of an electronic system in relation to lending .

SYSC 5
SYSC 5.1.-2G	Not applicable	Not applicable
SYSC 5.1.-1G	Guidance	Guidance
SYSC 5.1.1R	Rule	Rule
SYSC 5.1.2G	Guidance	Guidance
SYSC 5.1.3G	Guidance	Guidance
SYSC 5.1.4G	Guidance	Guidance
SYSC 5.1.4AG	Guidance	Guidance
SYSC 5.1.5G	Guidance	Guidance
SYSC 5.1.5AAR	Not applicable	Rule
SYSC 5.1.5ABR	Not applicable	Rule
SYSC 5.1.5ACG	Not applicable	Guidance
SYSC 5.1.5ADG	Not applicable	Guidance
SYSC 5.1.5AEG	Not applicable	Guidance
SYSC 5.1.5AG	Guidance	Guidance
SYSC 5.1.6R	Rule	Guidance
SYSC 5.1.7R	Rule	Rule
SYSC 5.1.7AG	Not applicable	Not applicable
SYSC 5.1.8G	Guidance	Guidance
SYSC 5.1.9G	Guidance	Guidance
SYSC 5.1.10G	Guidance	Guidance
SYSC 5.1.11G	Guidance	Guidance
SYSC 5.1.12R	Rule	Guidance
SYSC 5.1.12AG	Not applicable	Not applicable
SYSC 5.1.13R	Rule	Rule
SYSC 5.1.14R	Rule	Guidance
SYSC 5.1.15G	Not applicable	Not applicable

SYSC 6
SYSC 6.1.-2G	Not applicable	Not applicable
SYSC 6.1.-1G	Guidance	Guidance
SYSC 6.1.1R	Rule	Rule
SYSC 6.1.1AG	Guidance	Guidance
SYSC 6.1.2R	Not applicable	Not applicable
SYSC 6.1.2-AR	Guidance	Guidance
SYSC 6.1.2AG	Not applicable	Not applicable
SYSC 6.1.3R	Not applicable	Not applicable
SYSC 6.1.3-AR	Guidance	Guidance
SYSC 6.1.3-BR	Guidance	Guidance
SYSC 6.1.3-CR	Guidance	(1), (3), (4) and (5): Guidance (2): Rule
SYSC 6.1.3AG	Not applicable	Not applicable
SYSC 6.1.4R	Not applicable	Not applicable
SYSC 6.1.4-AG	Guidance	Guidance
SYSC 6.1.4-AAG	Not applicable	Not applicable
SYSC 6.1.4-ABG	Not applicable	Guidance for a third country relevant authorised person
SYSC 6.1.4AR	Not applicable	Not applicable
SYSC 6.1.4CR	SYSC 6.1.4CR(3) applies as specified in SYSC 6.1.4CR Otherwise not applicable	SYSC 6.1.4CR(3) applies as specified in SYSC 6.1.4CR Otherwise not applicable
SYSC 6.1.5R	Not applicable	Not applicable
SYSC 6.1.5AR	Guidance	Guidance
SYSC 6.1.6G	Not applicable	Not applicable
SYSC 6.1.7R	Not applicable	Not applicable
SYSC 6.2.1R	Guidance	Guidance
SYSC 6.2.1AG	Not applicable	Not applicable
SYSC 6.2.1BG	Not applicable	Guidance for a third country relevant authorised person
SYSC 6.2.2G	Guidance	Guidance
SYSC 6.3.1R	Rule	Rule
SYSC 6.3.2G	Guidance	Guidance
SYSC 6.3.3R	Rule	Rule
SYSC 6.3.4G	Guidance	Guidance
SYSC 6.3.5G	Guidance	Guidance
SYSC 6.3.6G	Guidance	Guidance
SYSC 6.3.7G	Guidance	Guidance
SYSC 6.3.8R	Rule	Rule
SYSC 6.3.9R	Rule	Rule
SYSC 6.3.10G	Guidance	Guidance
SYSC 6.3.11G	Guidance	Guidance

SYSC 7
SYSC 7.1.-2G	Not applicable	Not applicable
SYSC 7.1.-1G	Guidance	Guidance
SYSC 7.1.1G	Guidance	Guidance
SYSC 7.1.2R	Not applicable	Not applicable
SYSC 7.1.2-AR	Guidance	Guidance
SYSC 7.1.2AG	Not applicable	Not applicable
SYSC 7.1.2BG	Not applicable	Not applicable
SYSC 7.1.3R	Guidance	Guidance
SYSC 7.1.4R	Rule	Guidance
SYSC 7.1.4AG	Guidance	Guidance
SYSC 7.1.4BG	Not applicable	Not applicable
SYSC 7.1.5R	Guidance	Guidance
SYSC 7.1.6R	Guidance	Guidance
SYSC 7.1.7R	Guidance	Guidance
SYSC 7.1.7AG	Not applicable	Not applicable
SYSC 7.1.7BG	Not applicable	Not applicable
SYSC 7.1.7BAG	Not applicable	Not applicable

SYSC 7.1.7CG	Guidance	Guidance
SYSC 7.1.8G	Guidance	Guidance
SYSC 7.1.16AG	Not applicable	Not applicable
SYSC 7.1.16BG	Not applicable	Not applicable
SYSC 7.1.17R	Guidance	Not applicable
SYSC 7.1.18R	Guidance	Not applicable
SYSC 7.1.18AAG	Guidance	Not applicable
SYSC 7.1.18BR	Guidance	Not applicable
SYSC 7.1.19R	Guidance	Not applicable
SYSC 7.1.20R	Guidance	Not applicable
SYSC 7.1.21R	Guidance	Not applicable
SYSC 7.1.22R	Guidance	Not applicable
SYSC 7.1.23G	Not applicable	Guidance for a third country relevant authorised person

SYSC 8
SYSC 8.1.-2G	Not applicable	Not applicable
SYSC 8.1.-1G	Guidance	Guidance
SYSC 8.1.1R	Rule	Guidance
SYSC 8.1.1AG	Not applicable	Not applicable
SYSC 8.1.2G	Guidance	Guidance
SYSC 8.1.3G	Guidance	Guidance
SYSC 8.1.4R	Not applicable	Not applicable
SYSC 8.1.4AR	Guidance	Guidance
SYSC 8.1.5R	Guidance	Guidance
SYSC 8.1.5AG	Not applicable	Not applicable
SYSC 8.1.6R	Not applicable	Not applicable
SYSC 8.1.6-AR	Rule	Rule
SYSC 8.1.6AG	Not applicable	Not applicable
SYSC 8.1.7R	Guidance	Guidance
SYSC 8.1.8R	Guidance	Guidance
SYSC 8.1.9R	Guidance	Guidance
SYSC 8.1.10R	Guidance	Guidance
SYSC 8.1.11R	Not applicable	Not applicable
SYSC 8.1.11-AR	Guidance	Guidance
SYSC 8.1.11-BR	Rule	Guidance
SYSC 8.1.11-CG	Guidance	Guidance
SYSC 8.1.11AG	Not applicable	Not applicable
SYSC 8.1.12G	Not applicable	Not applicable
SYSC 8.1.13R	Not applicable	Not applicable
SYSC 8.1.14G	Not applicable	Not applicable

SYSC 9
SYSC 9.1.-2G	Not applicable	Not applicable
SYSC 9.1.-1G	Guidance	Guidance
SYSC 9.1.1R	Not applicable	Not applicable
SYSC 9.1.1AR	Rule	Rule
SYSC 9.1.1BR	Rule	Guidance
SYSC 9.1.2R	Rule	Not applicable
SYSC 9.1.2-AR	Rule	Guidance
SYSC 9.1.2AR	Rule in relation to insurance distribution activities	Rule in relation to insurance distribution activities
SYSC 9.1.2BG	Guidance in relation to insurance distribution activities	Guidance in relation to insurance distribution activities
SYSC 9.1.2CR	Rule applicable to a firm carrying on insurance distribution in relation to insurance-based investment products	Rule applicable to a firm carrying on insurance distribution in relation to insurance-based investment products
SYSC 9.1.4G	Guidance	Guidance
SYSC 9.1.5G	Guidance	Guidance
SYSC 9.1.6G	Guidance	Guidance
SYSC 9.1.6AG	Guidance in relation to insurance distribution activities	Guidance in relation to insurance distribution activities

SYSC 10
SYSC 10.1.-4G	Guidance in relation to insurance distribution activities	Guidance in relation to insurance distribution activities
SYSC 10.1.-3G	Rule in relation to insurance distribution activities	Rule in relation to insurance distribution activities
SYSC 10.1.-2G	Not applicable	Not applicable
SYSC 10.1.-1G	Guidance	Guidance
SYSC 10.1.1R	Rule	Rule
SYSC 10.1.1AR	Not applicable	Not applicable
SYSC 10.1.2G	Guidance	Guidance
SYSC 10.1.3R	Rule	Rule
SYSC 10.1.4R	Rule	Guidance – but applies as a rule in relation to the production or arrangement of investment research, or the production or dissemination of non-independent research, in accordance with COBS 12.2
SYSC 10.1.4AG	Not applicable	Guidance
SYSC 10.1.4BR	Rule in relation to insurance distribution activities	Rule in relation to insurance distribution activities
SYSC 10.1.4CR	Rule in relation to insurance distribution activities	Rule in relation to insurance distribution activities
SYSC 10.1.5G	Guidance	Guidance
SYSC 10.1.6R	Rule	Guidance – but applies as a rule in relation to: (a) the production or arrangement of investment research, or the production or dissemination of non-independent research, in accordance with COBS 12.2 ; and (b) insurance distribution activities
SYSC 10.1.6AG	Not applicable	Guidance
SYSC 10.1.6AAR	Rule	Guidance - but applies as a rule in relation to insurance distribution activities
SYSC 10.1.6BG	Not applicable	Guidance
SYSC 10.1.7R	Rule	Rule
SYSC 10.1.7AR	Rule in relation to insurance distribution activities	Rule in relation to insurance distribution activities
SYSC 10.1.8R	Rule	Rule
SYSC 10.1.9G	Guidance	Guidance
SYSC 10.1.9AR	Rule	Rule in relation to insurance distribution activities . Otherwise not applicable
SYSC 10.1.10R	Rule	Guidance – but applies as a rule in relation to: (a) the production or arrangement of investment research, or the production or dissemination of non-independent research, in accordance with COBS 12.2 ; and (b) insurance distribution activities
SYSC 10.1.11R	Rule	Guidance – but applies as a rule in relation to: (i) the production or arrangement of investment research, or the production or dissemination of non-independent research, in accordance with COBS 12.2 ; and (ii) insurance distribution activities
SYSC 10.1.11AG	Not applicable	Guidance
SYSC 10.1.11AAR	Rule	Guidance, but applies as a rule in relation to insurance distribution activities
SYSC 10.1.11ABR	Rule in relation to insurance distribution activities	Rule in relation to insurance distribution activities
SYSC 10.1.11BG	Not applicable	Guidance
SYSC 10.1.12G	Guidance	Guidance
SYSC 10.1.16R	Not applicable	Not applicable
SYSC 10.1.17R	Not applicable	Not applicable
SYSC 10.1.18G	Not applicable	Not applicable
SYSC 10.1.19R	Not applicable	Not applicable
SYSC 10.1.20R	Not applicable	Not applicable
SYSC 10.1.21R	Not applicable	Not applicable
SYSC 10.1.22R	Not applicable	Not applicable
SYSC 10.1.23R	Not applicable	Not applicable
SYSC 10.1.24R	Not applicable	Not applicable
SYSC 10.1.25R	Not applicable	Not applicable
SYSC 10.1.26R	Not applicable	Not applicable
SYSC 10.1.27G	Not applicable	Not applicable
SYSC 10.1A	R Rule applicable to a firm carrying on insurance distribution in relation to insurance-based investment products	R Rule applicable to a firm carrying on insurance distribution in relation to insurance-based investment products
SYSC 10.2.1R	Rule	Rule
SYSC 10.2.2R	Rule	Rule
SYSC 10.2.3G	Guidance	Guidance
SYSC 10.2.4R	Rule	Rule
SYSC 10.2.5G	Guidance	Guidance