| Example | How the temporary UK role rule applies | |
|---|---|---|
| (1) | A spends 20 days in the UK performing the proprietary trader FCA certification function for Firm X and wishes to spend another 20 days in the UK performing the significant management FCA certification function for Firm X. | The rule does not allow this. There is a single 30-day allowance, not a separate 30-day allowance for each FCA certification function. |
| (2) | A spends 20 days in the UK performing an FCA certification function for Firm X (which is a UK SMCR firm) and wishes to spend another 20 days dealing with Firm X’s clients in the UK from the overseas office of Firm X in which A is based. | The rule does not allow this. There is a single 30-day limit for both types of contact with the UK. |
| (3) | A wishes to spend 40 days dealing with Firm X’s clients in the UK from the overseas office of Firm X (which is a UK SMCR firm) in which A is based. However the total time spent doing that will only be a few hours overall. | The rule does not allow this. If A deals with a UK client on one day, that uses up one day of the 30-day allowance, however short the time for which the contact lasts. |
| (4) | A spends 25 days in calendar year one for Firm X in the UK and 25 days in calendar year two. However A spends 40 days in the UK for Firm X between June in calendar year 1 and June in calendar year 2. | The rule does not allow this. This is because the 30-day annual allowance relates to any 12-month period and not just a calendar year. |
| (5) | Firm X is an overseas SMCR firm. A is employed by Firm X and is based in one of its offices outside the UK. A wants to work in the UK branch for 10 days. | The rule applies to overseas SMCR firms. It does not matter that A is not employed by the UK branch and instead is employed by another part of Firm X. It does not make a difference whether A is based in an office of Firm X in its home state or one in a third country. |
| (6) | A is based in one of Firm X’s overseas offices. Firm X then decides to relocate A to the UK, where A will be certified to perform an FCA certification function for Firm X. Firm X wants to rely on the temporary UK role rule for the first 30 days while Firm X goes through the certification process for A. | The rule does not allow this. A is no longer based in an overseas office and so the rule does not apply. |
| (7) | A is based in the overseas branch of a UK SMCR firm. A is to be promoted, so that A will be performing the material risk taker FCA certification function. Firm X wants to rely on the temporary UK role rule for the first 30 days while Firm X goes through the certification process for A. | The rule does not allow this because it does not apply to the material risk taker FCA certification function when it is performed for a UK SMCR firm. |
| A reference in this table to an FCA certification function is to a function that would have been an FCA certification function but for SYSC 27.5.3R (temporary UK role). | ||
Home
SYSC 27 Annex 1 Examples of how the temporary UK role rule in SYSC 27.5.3R (the 30-day rule) works
You are viewing SYSC 27 Annex 1 Examples of how the temporary UK role rule in SYSC 27.5.3R (the 30-day rule) works as of . SYSC 27 Annex 1 Examples of how the temporary UK role rule in SYSC 27.5.3R (the 30-day rule) works was last updated on 10/12/2018.
SYSC 27 Annex 1 Examples of how the temporary UK role rule in SYSC 27.5.3R (the 30-day rule) works
10/12/2018G