Part V Performance of Regulated Activities
F1Certification of employees
63FIssuing of certificates
(1)
A relevant authorised person may issue a certificate to a person under this section only if the authorised person is satisfied that the person is a fit and proper person to perform the function to which the certificate relates.
(2)
In deciding whether the person is a fit and proper person to perform the function, the relevant authorised person must have regard, in particular, to whether the person—
(a)
has obtained a qualification,
(b)
has undergone, or is undergoing, training,
(c)
possesses a level of competence, or
(d)
has the personal characteristics,
required by general rules made by the appropriate regulator in relation to employees performing functions of that kind.
(3)
In subsection (2) “the appropriate regulator” means—
(a)
in relation to employees of PRA-authorised persons, the FCA or the PRA, and
(b)
in relation to employees of any other authorised person, the FCA.
(4)
A certificate issued by a relevant authorised person to a person under this section must—
(a)
state that the authorised person is satisfied that the person is a fit and proper person to perform the function to which the certificate relates, and
(b)
set out the aspects of the affairs of the authorised person in which the person will be involved in performing the function.
(5)
A certificate issued under this section is valid for a period of 12 months beginning with the day on which it is issued.
(6)
If, after having considered whether a person is a fit and proper person to perform a specified function, a relevant authorised person decides not to issue a certificate to the person under this section, the authorised person must give the person a notice in writing stating—
(a)
what steps (if any) the authorised person proposes to take in relation to the person as a result of the decision, and
(b)
the reasons for proposing to take those steps.
(7)
A relevant authorised person must maintain a record of every employee who has a valid certificate issued by it under this section.
(8)
Expressions used in this section and in section 63E have the same meaning in this section as they have in that section.