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DTR 1C.1 Application and purpose (Primary information providers)

DTR 1C.1.1 R RP

1The requirements in DTR 8 apply to a primary information provider and a person that is applying for approval as a primary information provider.

DTR 1C.1.2 G RP

The purpose of the requirements in DTR 8 is to make the Part 6 rules permitted under section 89P of the Act in relation to primary information providers and persons applying for approval as primary information providers.

[Note: Other parts of the Handbook that may also be relevant to primary information providers include DEPP (Decision Procedure and Penalties manual) and Chapter 9 of SUP (Supervision manual). EG (Enforcement Guide) is also relevant.]

DTR 1C.2 Modifying rules and consulting the FCA

Modifying or dispensing with rules

DTR 1C.2.1 R RP
  1. (1)

    The FCA may dispense with, or modify, a requirement in DTR 8 in such cases and by reference to such circumstances as it considers appropriate (subject to the Act).

  2. (2)

    A dispensation or modification may be either unconditional or subject to specified conditions.

  3. (3)

    If a primary information provider or a person that is applying for approval as a primary information provider has applied for, or been granted, a dispensation or modification, it must notify the FCA immediately it becomes aware of any matter which is material to the relevance or appropriateness of the dispensation or modification.

  4. (4)

    The FCA may revoke or modify a dispensation or modification.

DTR 1C.2.2 R RP
  1. (1)

    An application to the FCA to dispense with or modify a requirement in DTR 8 must be in writing.

  2. (2)

    The application must:

    1. (a)

      contain a clear explanation of why the dispensation or modification is requested;

    2. (b)

      include details of any special requirements, for example, the date by which the dispensation or modification is required;

    3. (c)

      contain all relevant information that should reasonably be brought to the FCA's attention;

    4. (d)

      contain any statement or information that is required by DTR 8 to be included for a specific type of dispensation or modification; and

    5. (e)

      include copies of all documents relevant to the application.

      [Note: the application may meet this requirement with copies of documents produced, recorded or stored using electronic means].2

DTR 1C.2.3 R RP

An application to dispense with or modify a requirement in DTR 8 must ordinarily be made at least five business days before the proposed dispensation or modification is to take effect.

Early consultation with FCA

DTR 1C.2.4 R RP

A primary information provider or a person applying for approval as a primary information provider must consult with the FCA at the earliest possible stage if they:

  1. (1)

    are in doubt about how a requirement in DTR 8 applies in a particular situation; or

  2. (2)

    consider that it may be necessary for the FCA to dispense with or modify a requirement in DTR 8.

DTR 1C.2.5 R RP

Where a requirement in DTR 8 refers to consultation with the FCA, submissions must be made in writing other than in circumstances of exceptional urgency.

Address for correspondence

Note: The FCA's address for correspondence in relation to DTR 8 is:

Primary Market Monitoring2

Enforcement and Market Oversight Division2

The Financial Conduct Authority2

12 Endeavour Square2

London, E20 1JN2

https://www.fca.org.uk/markets/primary-markets/contact/request-individual-guidance 2

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