Who should read this chapter?
All firms should read this chapter.
Our proposals
5.1 In CP17/25, we proposed replacing the current Statements of Principle and Code of Practice for Approved Persons (the APER section of the Handbook) with a set of individual Conduct Rules for all firms. This will ensure a single standard applies across the market. As the Conduct Rules apply directly to individuals, they will help shape firms' culture, standards and policies. They should also promote positive behaviours that actively support our statutory objectives.
5.2 The Conduct Rules are made up of a general set of rules that we proposed to apply to most employees in a firm. We also proposed a second tier of rules that only apply to Senior Managers.
Table 4: Conduct Rules
5.3 We proposed that these Conduct Rules would apply to a firm's regulated and unregulated financial services activities. This includes any related ancillary activities - activities carried on in connection with a regulated activi
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