Examples of Controlled Functions in a sentence
If a firm changes its permission it may need new Controlled Functions and Approved Persons or it may no longer require certain Controlled Functions.
The Principles for Approved Individuals and Designated Individuals set out in Section 4.3 apply to Approved Individuals and Designated Individuals in respect of Controlled Functions and Designated Functions.
The functions specified in GEN 2.2.2 to 2.2.5 are Controlled Functions.
The Regulator or relevant Authorised Person, as applicable, will only authorise an individual to perform more than one Controlled Function or Recognised Function or combine Controlled Functions with other functions (including Recognised Functions) where it is satisfied that the individual is fit and proper to perform each Controlled Function, Recognised Function or combination of Controlled Functions and Recognised Functions.
The GPM sets out the Regulator's approach to the authorisation of Undertakings and individuals to conduct Regulated Activities, Controlled Functions or Recognised Functions, as the case may be.
Guidance The Regulator will approve an Approved Person for the performance of Controlled Functions.
Performance of Controlled Functions are subject to approval by the Regulator.
This may be possible in the case of a Branch, where monitoring and controlling of the individual (carrying out more than one role in the Branch) is conducted from the Authorised Person's home state by an appropriate individual for each of the relevant Controlled Functions or Recognised Functions, as applicable.
An application to extend the scope of an Approved Person status to other Controlled Functions may be made by the Authorised Person by submitting an application in such form as the Regulator shall prescribe.
In addition, the roles of Compliance Officer, Finance Officer and Money Laundering Reporting Officer would not be expected to be combined with any other Controlled Functions or Recognised functions unless appropriate monitoring and control arrangements independent of the individual concerned will be implemented by the Authorised Person.