Home FCA Handbook SYSC SYSC 28 SYSC 28.1 Minimum knowledge, ability and good repute requirements for carrying out insurance distribution activities
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SYSC 28.1 Minimum knowledge, ability and good repute requirements for carrying out insurance distribution activities

Application

09/12/2025R

  1. (1)

     This chapter applies to a firm with Part 4A permission, including a TP firm, to carry on insurance distribution activities.

  2. (2)

    SYSC 28.2 (except SYSC 28.2.1R(1)) does not apply to an authorised professional firm with respect to its non-mainstream regulated activities.

09/12/2025G

Firms are reminded that GEN 2.2 sets out how the Handbook applies to TP firms. SYSC 28 applies to TP firms, and this includes amendments to provisions in SYSC 28 made after IP completion day (including for the avoidance of doubt any new rules created arising out of those amendments). 

09/12/2025R

In this chapter, non-investment insurance personnel are employees or other persons:

  1. (1)

     directly involved in the carrying on of the firm’s insurance distribution activities in relation to non-investment insurance contracts; or

  2. (2)

     within the management structure responsible for the firm’s insurance distribution activities in relation to non-investment insurance contracts; or

  3. (3)

     responsible for the supervision of a non-investment insurance employee (or other person) acting in the capacity as set out in (1).

[Note: article 10(1) and the fifth paragraph of article 10(2) of the IDD]

09/12/2025R

In this chapter, long-term insurance personnel are employees or other persons:

  1. (1) directly involved in the carrying on of the firm's insurance distribution activities in relation to:
    1. (a) long-term insurance contracts (other than pure protection contracts);
    2. (b) long-term care insurance contracts; or
    3. (c) rights to or interests in a life policy;
  2. (2) within the management structure responsible for the firm's insurance distribution activities in relation to:
    1. (a) long-term insurance contracts (other than pure protection contracts);
    2. (b) long-term care insurance contracts; or
    3. (c) rights to or interests in a life policy; or
  3. (3) responsible for the supervision of a long-term insurance employee (or other person) acting in the capacity as set out in (1).
01/10/2018R

In this chapter ‘employee’:

  1. (1)

    is not restricted to an individual working under a contract of employment; and

  2. (2)

    includes (without limitation) any natural or legal person whose services are placed at the disposal of the firm, under an arrangement between the firm and a third party; and

  3. (3)

    also includes appointed representatives and their employees.

01/10/2018G

Rules specified in sections SYSC 28.2 (knowledge and ability), SYSC 28.4 (record-keeping) and SYSC 28.5 (other requirements to consider) relate to the requirements in:

  1. (1)

    SYSC 3.1.6R;

  2. (2)

    SYSC 5.1.1R;

  3. (3)

    SYSC 3.2.20R, SYSC 9.1.1R and SYSC 9.1.1AR;

  4. (4)

    TC 4.2 (Specified requirements for firms carrying on insurance distribution activities); and

  5. (5)

    article 22 of the AIFMD level 2 regulation.