SUP 16.1 Application
This chapter applies to every firm and qualifying parent undertaking within49 a category listed in column (2) of the table in SUP 16.1.3 R and in accordance with column (3) of that table.
3444Credit institutions and electronic money institutions should note that some of the directions in SUP 16.13 apply to them as well as to payment institutions and registered account information service providers.
27The directions and guidance in SUP 16.15 apply to electronic money issuers that are not credit institutions.
31The directions and guidance in SUP 16.18 apply for the following types of AIFM:
- (1)
- (2)
an above-threshold non-EEA AIFM marketing in the UK; and
- (3)
a small non-EEA AIFM marketing in the UK.
39The rules, directions and guidance in SUP 16.22 apply to a payment service provider located in the UK other than:
- (1)
a credit union;
- (2)
National Savings and Investments; and
- (3)
the Bank of England.
35The only categories of firm to which no section of this chapter applies are:
- (1)
an ICVC;
- (2)
an incoming EEA firm or incoming Treaty firm, unless it is:
- (a)
a firm of a type listed in SUP 16.1.3 R as a type of firm to which SUP 16.6, SUP 16.7A,335 SUP 16.9,23 SUP 16.12, SUP 16.14, or SUP 16.23A47 applies; or
26172325 - (b)
an insurer with permission to effect or carry out life policies; or49
39 - (c)
a firm with permission to establish, operate or wind up a personal pension scheme or 14 a stakeholder pension scheme;3 or49
1439 - (d)
a payment service provider to which SUP 16.22 applies; and39
- (a)
- (3)
Application of different sections of SUP 16 (excluding49 SUP 16.13, SUP 16.15, SUP 16.16 and SUP 16.17) 426639and SUP 16.2239)27
(1) Section(s) |
(2) Categories of firm to which section applies |
(3) Applicable rules and guidance |
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All categories of firm except: |
Entire sections |
||||
(a) |
an ICVC; |
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(b) |
an incoming EEA firm or incoming Treaty firm, which is not: |
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(i) |
a firm of a type to which SUP 16.6 or 20SUP 16.1220 applies; or |
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(ii) |
an insurer with permission to effect or carry out life policies49; orcarry outlife policies; or |
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(iii)3 |
a with to establish, operate or wind up a stakeholder pension scheme;14a firm with permission to establish, operate or wind up a personal pension scheme or a stakeholder pension scheme;14 or39 |
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39(iv) |
a payment service provider to which SUP 16.22 applies; and |
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(c) |
|||||
All categories of firm except: |
Entire sections |
||||
(-a) |
|||||
(a) |
an ICVC; |
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(b) |
|||||
(c) |
|||||
(d) |
|||||
(e)4 |
[deleted]4 |
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(f) |
a sole trader; |
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(g) |
|||||
(h) |
8 | ||||
(i)8 |
a firm with permission to carry on only retail investment activities;8 |
8 | |||
(ia)38 |
a firm with permission only to advise on P2P agreements (unless that activity is carried on exclusively with or for professional clients);38 |
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(j)8 |
a firm with permission to carry on only insurance mediation activity, home finance mediation activity,16 or both;8 16 |
8 | |||
(ja) 30 |
an FCA-authorised person with permission to carry on only credit-related regulated activity; |
||||
(k)8 |
a firm falling within a combination of (i), (ia),38 (j) and (ja). 30 30 |
8 | |||
46(l) |
a firm with permission to carry on only the regulated activity of administering a benchmark; |
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| 27 | |||||
| 2628 | |||||
| 28 | 28 | ||||
Depositary of an authorised fund41 |
|||||
A firm subject to the requirement in SUP 16.7A.3 R or SUP 16.7A.5 R |
Sections as relevant |
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Insurer with permission to effect or carry out life policies, unless it is a non-directive friendly society3 |
Entire section |
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3Firm with permission to establish, operate or wind up a personal pension scheme or a stakeholder pension scheme14 14 |
Entire section3 |
||||
Firm with permission to advise on investments; arrange (bring about) deals in investments; make arrangements with a view to transactions in investments; or arrange safeguarding and administration of assets5 |
Entire section5 |
||||
Entire section9 |
9
|||||
(a)9 |
9 | ||||
(b)9 |
a UCITS qualifier; 21and42 |
9 | |||
(c)9 |
[deleted]42 219 |
9 | |||
21(d) |
|||||
(1) |
A firm, other than a managing agent, which is: |
||||
(a) |
a home finance provider; or |
Entire section |
|||
(b) |
an insurer; or |
Entire section |
|||
(c) |
the operator of a regulated collective investment scheme or an investment trust savings scheme; or |
Entire section |
|||
(d) |
a person who issues or manages the relevant assets of the issuer of a structured capital-at-risk product; or |
Entire section |
|||
(e) |
a firm with permission to enter into a regulated credit agreement as lender in respect of high-cost short-term credit or home credit loan agreements; or |
||||
(2) |
a firm in whom the rights and obligations of the lender under a regulated mortgage contract are vested. |
The provisions governing performance data reports in SUP 16.11 and SUP 16 Annex 21 |
|||
A firm undertaking the regulated activities as listed in SUP 16.12.4 R, unless exempted in SUP 16.12.1 G |
Sections as relevant to regulated activities as listed in SUP 16.12.4 R23 |
||||
A CASS large firm and a CASS medium firm |
Entire section29 |
||||
An IFPRU 730k firm and a qualifying parent undertaking that is required to send a recovery plan, a group recovery plan or information for a resolution plan to the FCA43. |
Entire Section |
||||
A firm subject to the Money Laundering Regulations and within the scope of SUP 16.23.1R |
Entire Section |
||||
A firm undertaking the regulated activities in SUP 16.23A.1R, including all incoming EEA firms or incoming Treaty firms (including those providing cross border services and undertaking the same activities) |
Entire section |
||||
A firm with permission to effect or carry out contracts of insurance in relation to life and annuity contracts of insurance45 to the extent that the firm and its business falls within the scope of SUP 16.24.1R. |
Entire Section |
||||
27Note 2 :43 = The application of SUP 16.13 is set out under SUP 16.13.1 G;66 the application of SUP 16.15 is set out under SUP 16.15.1 G; the application of SUP 16.16 is set out SUP 16.16.1 R and SUP 16.16.2 R and the application of SUP 16.17 is set out in SUP 16.17.3 R and SUP 16.17.4 R66. 66 |
|||||
29Note 3 :43 = The application of SUP 16.18 for the types of AIFMs specified in SUP 16.1.1C G is set out in SUP 16.18.2 G. |
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- (1)
This chapter contains requirements to report to the FCA37 on a regular basis. These requirements include reports relating to a firm's financial condition, and to its compliance with other rules and requirements which apply to the firm. Where the relevant requirements are set out in another section of the Handbook, this chapter contains cross references. An example of this is financial reporting for insurers and friendly societies.
6666 - (2)
Where such requirements already apply to a firm under legislation other than the Act, they are not referred to in this chapter. An example of this is reporting to the FCA37 by building societies under those parts of the Building Societies Act 1986 which have not been repealed.
6666 - (3)
Requirements for individual firms reflect:
- (a)
the category of firm;
- (b)
the nature of business carried on;
- (c)
whether a firm has its registered office (or if it does not have a registered office, its head office) in the United Kingdom; 17
- (d)
whether a firm is an incoming EEA firm or incoming Treaty firm; and17
17 - (e)
- (a)
66Where a PRA-authorised person is required to notify or provide any information to (a) the FCA37 by a PRA Handbook provision and (b) the FCA by the equivalent provision in the FCA Handbook, the PRA-authorised person is expected to comply with both provisions.