GEN TP 1 Transitional provisions

54

GEN 6.14

R

4GEN 6.1 does not:

(1) apply to an unamended contract of insurance, first entered into on or before 24 July 2003; or

(2) prohibit a firm from claiming on, or making a payment under, a contract of insurance:

(a) in connection with a financial penalty imposed by the FSA pursuant to a warning notice issued before 25 July 2003; or

(b) first entered into between 25 July 2003 and 31 December 2003 in respect of a financial penalty imposed by the FSA by a final notice issued on or before 31 December 2003.

(For these purposes only, a contract of insurance will be regarded as unamended if:

(i) it was amended on or before 24 July 2003; or

(ii) it was amended after 24 July 2003, but the amendments did not affect the duration or scope of any indemnity against a financial penalty imposed by the FSA under the Act.)

4From 1 January 2004

41 January 2004

911

GEN 5 Annex 1 G

G

[expired]21

1210

GEN 4.3.1 R

R

[expired]21

1611

GEN 4.5

R

[expired]21

1612

GEN 4 Annex 1 R

R

[expired]21

2013

GEN 4.3.1 R, GEN 4 Annex 1 R and GEN 4 Annex 1A

R

[expired]21

2014

GEN 4.5.3 R and GEN 4.5.4 R

R

[expired]21

2215

Rules and directions implementing MiFID II

R

A firm that is required or wishes to make any notification, application or undertake any other administrative procedure enabling it to carry on MiFID, equivalent third country or optional exemption business in the UK from 3 January 2018, may do so before that date subject to the requirements of any applicable statutory provision, rule, direction or EU regulation that will be in force on 3 January 2018.

3 July 2017 to 2 January 2018

3 July 2017

2216

Rules and directions implementing MiFID II

G

(1) The purpose of this transitional provision is to help a firm to take the necessary administrative or regulatory steps to enable them to carry on investment services or activities in the UK from 3 January 2018.

(2) This could take the form, for example, of making notifications to the FCA in the case of algorithmic trading notifications (see MAR 7A.3.6R), before 3 January 2018.

(3) It also enables a firm wishing to classify clients in accordance with the client categorisation requirements in COBS 3 (to take effect on 3 January 2018) to take steps towards doing so before 3 January 2018.

3 July 2017 to 2 January 2018

3 July 2017