SYSC 1.4 Application of SYSC 11 to 2824378
What?
8The application of each of the chapters SYSC 19F.2, SYSC 22 to 9 SYSC 28 is set out in those chapters.
5Apart from SYSC 1211, and SYSC 21 which are disapplied by SYSC 1.4.1A R, the other chapters of SYSC 11 to SYSC 17 do not apply in relation to a firm's carrying on of auction regulation bidding because they only apply to an insurer. SYSC 18 provides guidance on the Public Interest Disclosure Act. Other chapters of SYSC may not apply to auction regulation bidding, for example because an exempt MiFID commodities firm will not be a MIFIDPRU investment firm11.
6Actions for damages
A contravention of a rule in SYSC 11 to 2 SYSC 21,7 SYSC 22.8.1R, SYSC 22.9.1R or to 9 SYSC 28 8 does not give rise to a right of action by a private person under section 138D of the Act (and each of those rules is specified under section 138D(3) of the Act as a provision giving rise to no such right of action).
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