Beyond PRIN

In addition to PRIN, firms are also expected to adhere to other high-level principles including:

General Provisions (GEN)

General Provisions (GEN) set out firms’ responsibilities regarding such issues as disclosing their regulatory status and the use of the regulators logo.

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SYSC

SYSC sets out a firm's responsibilities in relation to the arrangements which must be in place for senior management, systems and controls. For example, firms must ensure that senior management have the necessary expertise to perform the responsibilities allocated to them.

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DISP

DISP sets out detailed requirements for firms to handle customer complaints, including working with the Financial Ombudsman Service.

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FIT

FIT sets out the minimum standards for becoming and remaining an Approved Person (see the next module for more information on Approved Persons).

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TC sets out the commitments and requirements for firms concerning staff competency related to consumer credit activities.

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