SUP 15.1 Application
Who?
This chapter applies to every firm except an ICVC or a UCITS qualifier.
The application of this chapter to an incoming EEA firm or an incoming Treaty firm is set out in SUP 15 Annex 1.
In some cases, the application of provisions set out in SUP 15 Annex 1 depends on whether responsibility is reserved to a Home State regulator. SYSC App 1 contains guidance on this.
What?
This chapter:
- (1)
applies with respect to the carrying on of both regulated activities and unregulated activities; and
- (2)
takes into account any activity of other members of a group of which the firm is a member.
Where?
Firms are reminded that:
- (1)
unless expressly stated otherwise, where a rule or guidance includes a reference to a firm this includes all UK and overseas branches and representative offices of that firm, whether or not those branches or offices carry on any regulated activities; and
- (2)
ECO 1.1.6 R has the effect that this chapter does not apply to an incoming ECA provider acting as such.1