controlled functions
Activities that, under Part V of the Financial Services and Markets Act 2000, must be carried out by approved persons (individuals who are approved by the Financial Services Authority (FSA) to carry on controlled functions for an authorised person). Controlled functions are divided into "governing functions", "required functions", "systems and controls functions", "significant management functions" and "customer functions".
For further information, see the FSA website:
Related links

Practical Law Dictionary. Glossary of UK, US and international legal terms. . 2010.

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