2.3.5 Code of Practice for Statement of Principle 4

Question 1

Statement of Principle 4

Answer 1

Requires an approved perosn to deal with the FCA and other regulators in an open and cooperative way, and to disclose appropriately any information of which the FCA would reasonably expect notice

Question 2

Faliure to comply 1 - internal procedues

Answer 2

Failing to report promptly, in accordance with the firm’s internal procedures (or direct to the FCA if none exist) info which it is reasonable to assume would be of material significance to the FCA

Question 3

Failure to comply 3 - failure to act without good reasons

Answer 3

Failing to

1) ) Inform a regulator of the information of which the approved person was aware in response to questions
2) Attend an interview or answer questions put by a regulator, despite a request being made
3) Supply a regulator with appropriate documents or information when requested, or required to do so, and within the time limits