SIFA 6.5 Which Parts of the Handbook Apply
Both the Authorisation and Supervision manuals are relevant. The Perimeter Guidance manual, whilst not part of the Handbook, provides guidance about circumstances in which authorisation is required, or exempt person status is available. It also includes guidance on the activities which are regulated under FSMA and the exclusions which are available.
In the Authorisation manual (AUTH) there is:
- a guide to the sourcebook in AUTH 1; and
- an explanation of the authorisation process and the permission regime in AUTH 3. This includes the following sections:
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When is Part IV permission required and what does it contain: AUTH 3.3 |
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Information on specified investments: AUTH 3.5 |
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Information on limitations: AUTH 3.6. An example of a limitation is where we limit the number of clients a firm can deal with during an initial period until its systems have demonstrated they are effective. |
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How we may impose requirements: AUTH 3.7. For example, some firms are required not to hold client money. |
After Part IV permission has been granted, a firm can apply to vary or cancel that Part IV permission, including any limitation or requirement, at any time. The procedures that need to be followed are set out in Chapter 6 of the Supervision manual (SUP). The forms for variation and cancellation of permission are available on our website through Firms Online.