SYSC 1 Annex 1 Detailed application of SYSC

Who?

1.124

R

SYSC 2 and SYSC 3 only apply to an insurer, a UK ISPV,32 a managing agent and the Society except that:

(1)

[deleted]38

(2)

[deleted]38

(3)

[deleted]38

(4)

for a sole trader:

(a)

SYSC 2 applies but only if he employs any person who is required to be approved under section 59 of the Act (Approval for particular arrangements);

(b)

SYSC 3.2.6I R does not apply if he has no employees; and

(5)

[deleted]38

(6)

Except as provided for in (7), SYSC 2 and SYSC 3 do not apply to a firm in relation to benchmark activities.35

(7)

SYSC 2 and SYSC 3 continue to apply to a person with permission to carry on the regulated activity of administering a specified benchmark acting as such.35

351.1A

G

(1)

As a consequence of the benchmarks regulation, the regulated activity referred to in SYSC 1 Annex 1 1.1R(7) will cease to apply in certain circumstances (see SUP TP 10 for an explanation of those circumstances).

(2)

The effect of SYSC 1 Annex 1 1.1R(7) is that SYSC 2 and SYSC 3 continue to apply to firms which still have permission to carry on the regulated activity in SYSC 1 Annex 1 1.1R(7) when carrying on that activity.35

1.224

G

[deleted]38

What?

1.324

R

SYSC 2 and SYSC 3 apply with respect to the carrying on of:

(1)

regulated activities;

(2)

activities that constitute dealing in investments as principal, disregarding the exclusion in article 15 of the Regulated Activities Order (Absence of holding out etc); 32

(3)

ancillary activities in relation to designated investment business, home finance activity and insurance distribution activity33; and32

32(4)

activities directly arising from insurance risk transformation;

except that SYSC 3.3 applies as described in SYSC 1 Annex 1 1.3AR and 33SYSC 3.2.6A R to SYSC 3.2.6J G do not apply as described in SYSC 1 Annex 1.1.4R.

331.3A

R

SYSC 3.3 only applies in relation to the carrying on of insurance distribution activities.

1.4

21

R

SYSC 3.2.6A R to SYSC 3.2.6J G do not apply:

(1)

with respect to the activities described in SYSC 1 Annex 1.1.3R(2) and SYSC 1 Annex 1.1.3R(3); or

(2)

in relation to the following regulated activities:

(a)

general insurance business;

32(aa)

insurance risk transformation;

(b)

insurance distribution activity 33 in relation to a general insurance contract or pure protection contract;

(c)

long-term insurance business which is outside the scope of the 38Solvency II Directive18 (unless it is otherwise one of the regulated activities specified in this rule);

(d)

business relating to contracts which are within the Regulated Activities Order only because they fall within paragraph (e) of the definition of "contract of insurance" in article 3 of that Order;

(e)

(i)

arranging, by the Society, of deals in general insurance contracts written at Lloyd's; and

(ii)

managing the underwriting capacity of a Lloyd's syndicate as a managing agent at Lloyd's;

(f)

home finance mediation activity and administering a home finance transaction; and

(g)

reversion activity; or21

21(3)

to a pure reinsurer; or32

32(4)

in relation to activities directly arising from insurance risk transformation.

1.524

R

SYSC 2 and SYSC 3, except SYSC 3.2.6A R to SYSC 3.2.6J G, also apply with respect to the communication and approval of financial promotions which:

(1)

if communicated by an unauthorised person without approval would contravene section 21(1) of the Act (Restrictions on financial promotion); and

(2)

may be communicated by a firm without contravening section 238(1) of the Act (Restrictions on promotion of collective investment schemes).

1.624

R

SYSC 2 and SYSC 3, except SYSC 3.2.6A R to SYSC 3.2.6J G, also:

(1)

apply with respect to the carrying on of unregulated activities in a prudential context; and

(2)

take into account any activity of other members of a group of which the firm is a member.

1.724

G

SYSC 1 Annex 1 .1.6R(2) does not mean that inadequacy of a group member's systems and controls will automatically lead to a firm contravening, for example, SYSC 3.1.1 R. Rather, the potential impact of a group member's activities, including its systems and controls, and any systems and controls that operate on a group basis, will be relevant in determining the appropriateness of the firm's own systems and controls.

Where?

1.824

R

SYSC 2 and SYSC 3 apply with respect to activities carried on from an establishment maintained by the firm (or its appointed representative or, where applicable, its tied agent) in the United Kingdom unless another applicable rule which is relevant to the activity has a wider territorial scope, in which case SYSC 2 and SYSC 3 apply with that wider scope in relation to the activity described in that rule.

211.8A

R

(1) SYSC 3, except SYSC 3.2.6AR to SYSC 3.2.6JG, and

(2) for a UK domestic firm, SYSC 2;

also apply in a prudential context with respect to activities wherever they are carried on.

1.924

R

SYSC 2 and SYSC 3, except SYSC 3.2.6A R to SYSC 3.2.6J G, also apply in a prudential context to a UK domestic firm with respect to activities wherever they are carried on.

1.1024

R

SYSC 3 , except SYSC 3.2.6A R to SYSC 3.2.6J G, also applies in a prudential context to an overseas firm 38with respect to activities wherever they are carried on.

1.1124

G

(1)

In considering whether to take regulatory action under SYSC 2 or SYSC 3 in relation to activities carried on outside the United Kingdom, the appropriate regulator will take into account the standards expected in the market in which the firm is operating.

(2)

Most of the rules in SYSC 3 are linked to other requirements and standards under the regulatory system which have their own territorial limitations so that those SYSC rules are similarly limited in scope.

Actions for damages

1.1224

R

A contravention of the rules in SYSC 2 and SYSC 3 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).

Who?

2.124

R

The common platform requirements apply to every firm apart from an insurer, a UK ISPV,32 a managing agent and the Society unless provided otherwise in a specific rule.

2.224

R

[deleted]38

2.324

R

For a sole trader:

(1)

SYSC 4.3 does40 not apply as long as they do40 not employ any person who is required to be approved under section 59 of the Act (Approval for particular arrangements);

(2)

SYSC 4.1.4 R and SYSC 6.3.9 R do not apply if he has no employees.

2.424

R

For a UCITS qualifier:

(1)

the rule on responsibility of senior personnel (SYSC 4.3) does not apply; and

(2)

the common platform requirements apply in relation to the communication and approval of financial promotions only as set out in SYSC 1 Annex 1.2.12R.

[Note: section 266 of the Act.]

162.4A24

R

For an AIFM qualifier:

(1)

the rule on responsibility of senior personnel (SYSC 4.3) does not apply; and

(2)

the common platform requirements apply in relation to the communication and approval of financial promotions only as set out in SYSC 1 Annex 1, 2.12R.

2.524

R

For an authorised professional firm when carrying on non-mainstream regulated activities, the common platform requirements on financial crime, conflicts of interest and Chinese walls do not apply.

152.5A24

R

The common platform requirements on financial crime do not apply to a firm for which a professional body listed in Schedule 129 to the Money Laundering Regulations, and not the FCA, acts as the supervisory authority for the purposes of those regulations.

2.624

R

[deleted]38

72.6A24

R

[deleted]38

112.6B24

R

Subject to SYSC 1 Annex 1 2.6CR, the common platform requirements do not apply to a full-scope UK AIFM of an unauthorised AIF except for:

(1)

SYSC 4.1.1 R to SYSC 4.1.2 R and SYSC 4.1.2B R to SYSC 4.1.2D R;

(2)

SYSC 4.2.1 R , SYSC 4.2.1B R, SYSC 4.2.2 R to SYSC 4.2.5 G, SYSC 4.2.7 R and SYSC 4.2.8 G;

(3)

SYSC 6.1.1 R , which only applies to the extent that it relates to the obligation to establish, implement and maintain adequate policies and procedures for countering the risk that the firm (including its managers and employees) might be used to further financial crime;

(4)

SYSC 6.1.4B G 13

(5)

SYSC 6.3 ;

(6)

SYSC 7.1.7BA G 13

(7)

SYSC 10.1.1 R and SYSC 10.1.22 R to SYSC 10.1.26 R; and

(8)

SYSC 10.2 .

2.6C24

R

The common platform requirements apply to an AIFM investment firm which is a full-scope UK AIFM in respect of its MiFID business in line with Column A in Table A 27of Part 3. 11

2.6D24

R

The common platform requirements apply to a full-scope UK AIFM of an authorised AIF in line with Column27 A++ in Table A 27of Part 3. 11

2.6E24

G

The common platform requirements apply to a small authorised UK AIFM in line with Column B in Table A 27 of Part 3 (unless such a firm is also a common platform firm, in which case they must comply with Column A).11

112.6F24

R

[deleted]38

352.6G

R

(1)

Except as provided for in (2), the common platform requirements36 do not apply to a firm in relation to benchmark activities.

(2)

The common platform requirements continue to apply to a person with permission to carry on the regulated activity of administering a specified benchmark acting as such. 35

35 2.6H

G

(1)

As a consequence of the benchmarks regulation, the regulated activity referred to in SYSC 1 Annex 1 2.6GR(2) will cease to apply in certain circumstances (see SUP TP 10 for an explanation of those circumstances).

(2)

The effect of SYSC 1 Annex 1 2.6GR(2) is that the common platform requirements continue to apply to firms which still have permission to carry on the regulated activity in SYSC 1 Annex 1 2.6GR(2) when carrying on that activity.

2.724

G

[deleted]38

62.7A24

G

[deleted]38

What?

2.824

R

The common platform organisational requirements apply with respect to the carrying on of the following (unless provided otherwise within a specific rule):

(1)

regulated activities;

(2)

activities that constitute dealing in investments as principal, disregarding the exclusion in article 15 of the Regulated Activities Order (Absence of holding out etc);

(3)

ancillary activities;

(4)

in relation to MiFID business, ancillary services; and6

6(5)

collective portfolio management.

272.8A

R

(1)

Subject to (2), (3) and (5), in SYSC 1 Annex 1 2.8R,33 articles 1(2), 21 to 25, 30 to 32 and 72 of the MiFID Org Regulation (including any relevant definitions in the Glossary38, MiFIR and the MiFID Org Regulation) apply as if they were rules or guidance in accordance with Part 3 (Tables summarising the application of the common platform requirements to different types of firm)30 to a firm’s carrying on of the business set out in SYSC 1 Annex 1 2.8R which is not 30MiFID business or a structured deposits regulated activity30.

(1A)30

Subject to (2), (3) and (6)33, articles 33 to 35 of the MiFID Org Regulation 33(including any relevant definitions in the Glossary38, MiFIR and the MiFID Org Regulation) apply as if they were rules or guidance in accordance with Part 3 (Tables summarising the application of the common platform requirements to different types of firm) to a firm’s carrying on of the business set out in SYSC 10.1.1R which is not MiFID business or a structured deposits regulated activity.30

(2)

References in Column (1) to a word or phrase used in the MiFID Org Regulation for the purpose of (1) have the meaning indicated in Column (2) of the table below:

(1)

(2)

“ancillary services”

ancillary services or ancillary activities associated with the firm’s regulated activities

“client” and “potential client”

client

“competent authority”

FCA

“investment firm” and “firm”

firm

“investment service” and “investment services and activities”

designated investment business

“portfolio management” and “portfolio management service”

managing investments

38

38

“shall”

must

(3)

[deleted]38

(4)

This rule does not apply to a collective portfolio management investment firm in relation to the firm’s business other than its MiFID business.

33(5)

The requirements in article 72 of the MiFID Org Regulation do not apply to a firm to the extent that SYSC 9.1.2CR47 applies to the firm.

33(6)

SYSC 1 Annex 1 2.8AR(1A) does not apply to a firm to the extent that SYSC 10A applies47 to the firm (see SYSC 1 Annex 1 3.1AG).

2.8B

G

The purpose of SYSC 1 Annex 1 2.8R and SYSC 1 Annex 1 2.8AR is that the common platform organisational requirements and the common platform requirements on conflicts of interest30 also apply when carrying on any of the activities listed in SYSC 1 Annex 1 2.8R or SYSC 10.1.1R respectively30 even where they do not involve investment services and/or activities and, where relevant, ancillary services (unless provided otherwise within a specific rule).

2.8C

G

SYSC 1 Annex 1 2.8AR(3) has the effect that, where the requirement in the MiFID Org Regulation that is a common platform organisational requirement or a common platform requirement on conflicts of interest30 includes a reference or cross reference to another part of the MiFID Org Regulation, that reference or cross reference is given the same meaning as for the purposes of SYSC 1 Annex 1 2.8AR.

2.8D

G

For the purpose of SYSC 1 Annex 1 2.8AR, a firm should apply any guidance published by the FCA that assists with interpreting the definitions in MiFID, MiFIR and the MiFID Org Regulation.

2.924

G27

The application of the provisions on the conflicts of interest in SYSC 10 is set out in SYSC 10.1.-4G33 to SYSC 10.1.1AR27 and SYSC 10.2.1 R

2.1024

R

The provisions on record-keeping in SYSC 9 and articles 21 and 72 of the MiFID Org Regulation27 apply as set out in SYSC 1 Annex 1.2.8R and SYSC 1 Annex 1.2.8AR, except that they only apply to the carrying on of ancillary activities that are performed in relation to:

(1)

designated investment business;

(2)

home finance activity;

(3)

insurance distribution activity 33;12

(4)

credit-related regulated activity.12

2.1124

R

The common platform requirements on financial crime apply as set out in SYSC 1 Annex 1 2.8R33, except that they do not apply:

(1)

with respect to:

(a)

activities that constitute dealing in investments as principal, disregarding the exclusion in article 15 of the Regulated Activities Order (Absence of holding out etc); and

(b)

ancillary activities; or

(2)

in relation to the following regulated activities:

(a)

general insurance business;

(b)

insurance distribution activity 33 in relation to a general insurance contract or pure protection contract;

(c)

long-term insurance business which is outside theSolvency II Directive18 (unless it is otherwise one of the regulated activities specified in this rule);

(d)

business relating to contracts which are within the Regulated Activities Order only because they fall within paragraph (e) of the definition of "contract of insurance" in article 3 of that Order;

(e)

(i)

arranging by the Society of deals in general insurance contracts written at Lloyd's; and

(ii)

managing the underwriting capacity of a Lloyd's syndicate as a managing agent at Lloyd's;

(f)

home finance mediation activity and administering a home finance transaction;

(g)

reversion activity;

(h)

meeting of repayment claims and managing dormant asset funds (including the investment of such funds)4643; and

(i)43

regulated funeral plan activities43.

2.1224

R

The common platform organisational requirements, except the common platform requirements on financial crime, also apply with respect to the communication and approval of financial promotions which:

(1)

if communicated by an unauthorised person without approval would contravene section 21(1) of the Act (Restrictions on financial promotion); and

(2)

may be communicated by a firm without contravening section 238(1) of the Act (Restrictions on promotion of collective investment schemes).

2.1324

R

The common platform organisational requirements, except the common platform requirements on financial crime, also:

(1)

apply with respect to the carrying on of unregulated activities in a prudential context; and

(2)

take into account any activity of other members of a group of which the firm is a member.

2.13A24

R

SYSC 6.3 only applies to a firm in relation to carrying on a credit-related regulated activity or regulated claims management activity37, or operating an electronic system in relation to lending,17 to which the Money Laundering Regulations also apply.12

2.13B24

R

SYSC 6.3.8 R and SYSC 6.3.9 R do not apply to a firm with a limited permission for entering into a regulated credit agreement as lender. 12

2.13C24

G

The persons to whom the Money Laundering Regulations apply are set out in regulation 1029 of the Money Laundering Regulations. The persons include credit institutions (for example, banks) and financial institutions (for example, persons who carry on regulated activities which consist of or include entering into regulated credit agreements as lender). These expressions are defined in regulation 1029 of those Regulations.12

36

2.1424

G

SYSC 1 Annex 1 .2.13R(2) does not mean that inadequacy of a group member's systems and controls will automatically lead to a firm contravening any of the common platform organisational requirements. Rather, the potential impact of a group member's activities, including its systems and controls, and any systems and controls that operate on a group basis, will be relevant in determining the appropriateness of the firm's own systems and controls.

272.14A

G

The systems and control requirements in article 17 of MiFID for the following are in chapter 7A of the Market Conduct sourcebook (MAR):

(1)

algorithmic trading;

(2)

direct electronic access to a trading venue; and

(3)

acting as a general clearing member of a trading venue.

272.14B

G

Firms should refer to articles 38 to 42 of the MiFID Org Regulation for additional organisational requirements for underwriting and placing.

Where?

2.1524

R

The common platform requirements, except the common platform record-keeping requirements, apply to a firm in relation to activities which:37

(1)

(except for regulated claims management activities and ancillary activities) are carried on by it from an establishment in the United Kingdom; or37

(2)

are, or are ancillary to, regulated claims management activities.37

2.1624

R

[deleted]38

62.16A24

R

[deleted]38

62.16B24

G

[deleted]38

2.16C24

R

The common platform requirements apply to a full-scope UK AIFM in respect of its management of an AIF where carried on from an establishment in the UK. 11

2.16D24

R

[deleted]38

2.16E24

R

The common platform requirements apply to an AIFM investment firm which is a full-scope UK AIFM in respect of its MiFID business where carried on from an establishment in the UK.11

2.16F24

R

[deleted]38

2.1724

R

The common platform record-keeping requirements apply to activities which:37

(1)

(except for regulated claims management activities and ancillary activities) are carried on by it from an establishment in the United Kingdom; or37

(2)

are, or are ancillary to, regulated claims management activities.37

If, however,37 another applicable rule which is relevant to the activity has a wider territorial scope,37 the common platform record-keeping requirements apply with that wider scope in relation to the activity described in that rule.

[Note: article16(11) first paragraph 27of MiFID]

372.17A

G

For an activity to amount to a regulated claims management activity it must be carried on in Great Britain (see PERG 2.4A). Subject to the exception for common platform record-keeping requirements in paragraph 2.17R of this Annex, the application of the common platform requirements to firms which carry on regulated claims management activities (and ancillary activities) depends on whether the activity is carried on in Great Britain rather than whether it is carried on from an establishment maintained in the United Kingdom.

36

36

The common platform organisational requirements, except the common platform requirements on financial crime, also apply in a prudential context to a UK domestic firm and to an overseas firm38with respect to activities wherever they are carried on. 36

272.18A

G

SYSC 6.1.1R on systems and controls for countering the risk that a firm might be used to further financial crime is:

(1)

a common platform organisational requirement, not a common platform requirement on financial crime; and

(2)

subject to the application, amongst other provisions, of SYSC 1 Annex 1 2.13R, SYSC 1 Annex 1 2.16R and SYSC 1 Annex 1 2.18R.

Actions for damages

2.1924

R

A contravention of a rule in the common platform requirements 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).

3.124

G

The common platform requirements apply as described in the following table 27 (subject to the provisions in Part 2 of this Annex (Application of the common platform requirements)27).

Type of firm

Common platform requirements

Common platform firm

SYSC 1 Annex 1 3.2G, SYSC 1 Annex 1 3.2-AR and SYSC 1 Annex 1 3.2-BR

Management company

SYSC 1 Annex 1 3.2AG

Full-scope UK AIFM of an authorised AIF

SYSC 1 Annex 1 3.2BR

MiFID optional exemption firm

SYSC 1 Annex 1 3.2CR

Third country firm

SYSC 1 Annex 1 3.2CR

All other firms (apart from insurers, managing agents, the Society, full-scope UK AIFMs of unauthorised AIFs, MiFID optional exemption firms and third country firms)

SYSC 1 Annex 1 .3.3R

333.1A

G

[deleted]47

Common platform firm27

3.224

G

For a common platform firm (other than a dormant asset fund operator46 not subject to MiFID):27

(1)27

SYSC 4 to SYSC 1027 apply in accordance with Column A in Table A below;27 and

(2)27

articles 1(2), 21 to 25, 30 to 3530 and 72 of the MiFID Org Regulation are directly applicable to the firm27.

453.2-ZA

G

A common platform firm that is a MIFIDPRU investment firm should read SYSC 4 to SYSC 10 together with MIFIDPRU 7. While MIFIDPRU investment firms are not in scope of the requirements in SYSC 4.3A.8R and SYSC 7.1.18R regarding nomination and risk committees, certain MIFIDPRU investment firms are required by MIFIDPRU 7.3.1R and MIFIDPRU 7.3.5R to establish nomination and risk committees.

273.2-A

R

For a common platform firm (other than a dormant asset fund operator46 not subject to MiFID), articles 1(2), 21 to 25, 30 to 3530 and 72 of the MiFID Org Regulation apply to the firm’s business other than MiFID business or structured deposits regulated activities as if the MiFID Org Regulation applied to the firm as rules in accordance with SYSC 1 Annex 1 2.8R and SYSC 1 Annex 1 2.8AR.

273.2-B

R

For a common platform firm that is a dormant asset fund operator46 and is not subject to MiFID:

(1)

SYSC 4 to SYSC 10 apply in accordance with Column A in Table A below; and

(2)

articles 1(2), 21 to 25, 30 to 3530 and 72 of the MiFID Org Regulation apply as if the MiFID Org Regulation applied to the firm as rules in accordance with SYSC 1 Annex 1 2.8R and SYSC 1 Annex 1 2.8AR.

27Management company

63.2A24

G

For a management company, the common platform requirements in SYSC 4 to SYSC 1027 apply in accordance with Column A+ in Table A27 below.

27Full-scope UK AIFM of an authorised AIF

3.2B24

R

For a full-scope UK AIFM of an authorised AIF, the common platform requirements in SYSC 4 to SYSC 1027 apply in accordance27 with Column A++ in 27Table A below.

27MiFID optional exemption firm and a third country firm

273.2C

R

For a MiFID optional exemption firm and a third country firm:

(1)

SYSC 4 to SYSC 10 apply as rules or as guidance in accordance with Table B below in the following way:

(a)

where a rule is shown modified as 'Guidance', it should be read as guidance (as if "should" appeared in that rule instead of "must"); and

(b)

the provision should be applied in a proportionate manner, taking into account the nature, scale and complexity of the firm’s business; and

(2)

articles 1(2), 21 to 25, 30 to 32 and 72 of the MiFID Org Regulation apply as if the MiFID Org Regulation applied to the firm as rules (in accordance with SYSC 1 Annex 1 2.8R and SYSC 1 Annex 1 2.8AR) or as guidance in accordance with Part 1 of Table C below. Part 2 of Table C sets out those articles of the MiFID Org Regulation.

273.2D

R

(1)

Subject to (2), SYSC 4.3A.6R, SYSC 4.3A.8R and SYSC 7.1.18R apply to a MiFID optional exemption firm that is ‘significant’ as a rule or as guidance in accordance with SYSC 1 Annex 1 3.2CR.

(2)

In (1), ‘significant’ means a MiFID optional exemption firm that is a significant SYSC firm45.

27Other firms

3.2E30

R

SYSC 1 Annex 1 3.3R does not apply to the following:

(1)

insurers and UK ISPVs32;

(2)

managing agents;

(3)

the Society;

(4)

full-scope UK AIFMs of unauthorised AIFs;

(5)

MiFID optional exemption firms; and

(6)

third country firms.

3.324

R

For all other firms:27

(1)27

SYSC 4 to SYSC 1027 apply as rules or as guidance27 in accordance with Column B in Table A27 below in the following way:27

(a)27

27where a rule is shown modified in Column B as 'Guidance', it should be read as guidance (as if "should" appeared in that rule27 instead of "must"); 27and

(b)27

the provision27 should be applied in a proportionate manner, taking into account the nature, scale and complexity of the firm’s27 business; and27

(2)27

articles 1(2), 21 to 25, 30 to 3530 and 72 of the MiFID Org Regulation do not apply27.

273.3A

R

36

27 SYSC 4.1.-2G

Guidance

Not applicable save in relation to a UCITS investment firm and its MiFID business

Not applicable

Not applicable

27 SYSC 4.1.-1G

Not applicable

Not applicable

Not applicable

Not applicable

SYSC 4.1.1R 24

Rule10

Rule10

Rule10

Rule10

SYSC 4.1.1AR 24

Not applicable

Not applicable

Rule

Not applicable

SYSC 4.1.1BR 24

Not applicable

Not applicable

Rule

Not applicable

14 SYSC 4.1.1CR 24

[deleted]45

[deleted]45

[deleted]45

[deleted]45

23 SYSC 4.1.1DR

Not applicable

Rule

Not applicable

Not applicable

23 SYSC 4.1.1ER

Not applicable

Rule

Not applicable

Not applicable

23 SYSC 4.1.1FG 26

Not applicable

Guidance

Not applicable

Not applicable

SYSC 4.1.2R 24

Rule

Rule for a UCITS investment firm; otherwise guidance

Rule

Guidance

SYSC 4.1.2AG 24

Not applicable

Guidance for a UCITS firm; not applicable to a UCITS investment firm

Not applicable

Guidance

14 SYSC 4.1.2AAR 24

[deleted]45

[deleted]45

[deleted]45

[deleted]45

SYSC 4.1.2BR 24

Not applicable

Rule

Rule

Not applicable

SYSC 4.1.2CR 24

Not applicable

Rule

Not applicable

SYSC 4.1.2DR 24

Not applicable

Not applicable

Rule

Not applicable

SYSC 4.1.3R 24

[deleted]10

[deleted]10

[deleted]10

[deleted]10

SYSC 4.1.4R 24

Not applicable27

Rule

Not applicable

(1) and (3):27 Guidance; (2):27 Rule

SYSC 4.1.4AG 24

Not applicable

Not applicable

Not applicable

Guidance

SYSC 4.1.5R 24

Not applicable27

Rule

Not applicable

Not applicable

SYSC 4.1.6R 24

Rule

Rule for a UCITS investment firm; otherwise guidance

Not applicable

Guidance

SYSC 4.1.7R 24

Rule CRR firm for a only27

Rule

Not applicable

Guidance

SYSC 4.1.7AG 24

Not applicable

Not applicable

Not applicable

Guidance

SYSC 4.1.8G 24

Guidance

Guidance

Guidance

Guidance

39 SYSC 4.1.8AR

Applies as a rule only to an operator of an electronic system in relation to lending

Not applicable

Not applicable

Applies as a rule only to an operator of an electronic system in relation to lending

39 SYSC 4.1.8CG

Applies as guidance only to an operator of an electronic system in relation to lending

Not applicable

Not applicable

Applies as guidance only to an operator of an electronic system in relation to lending

39 SYSC 4.1.8DG

Applies as guidance only to an operator of an electronic system in relation to lending

Not applicable

Not applicable

Applies as guidance only to an operator of an electronic system in relation to lending

39 SYSC 4.1.8DAG

Applies as guidance only to an operator of an electronic system in relation to lending

Not applicable

Not applicable

Applies as guidance only to an operator of an electronic system in relation to lending

39 SYSC 4.1.8DBR

Applies as a rule only to an operator of an electronic system in relation to lending

Not applicable

Not applicable

Applies as a rule only to an operator of an electronic system in relation to lending

39 SYSC 4.1.8DCR

Applies as a rule only to an Applies as a rule only to an operator of an electronic system in relation to lending

Not applicable

Not applicable

Applies as a rule only to an operator of an electronic system in relation to lending

39 SYSC 4.1.8DDR

Applies as a rule only to an operator of an electronic system in relation to lending

Not applicable

Not applicable

Applies as a rule only to an operator of an electronic system in relation to lending

SYSC 4.1.9R 24

Not applicable27

Rule

Not applicable

Not applicable

SYSC 4.1.10R 24

Not applicable27

Rule

Not applicable

Guidance - except reference to SYSC 4.1.9 R which does not apply to these firms

SYSC 4.1.10AG 24

Not applicable

Not applicable

Not applicable

Guidance

SYSC 4.1.11G 24

Guidance

Guidance

Guidance

Guidance

SYSC 4.1.13G 24

Guidance

Guidance

Guidance

Guidance

SYSC 4.1.14G 24

Guidance

Guidance

Guidance

Guidance

SYSC 4.2.1R 24

Rule

Rule

Rule

27Guidance

SYSC 4.2.1AG 24

Not applicable

Not applicable

Not applicable

Guidance

SYSC 4.2.2R 24

Rule

Rule

Rule

Not applicable27

SYSC 4.2.3G - 4.2.5G24

Guidance

Guidance

Guidance

Not applicable27

SYSC 4.2.6R 24

Rule

Rule for a UCITS investment firm; otherwise not applicable

Not applicable

Not applicable27

SYSC 4.2.7R 24

Not applicable

Not applicable

Rule

Not applicable

SYSC 4.2.8G 24

Not applicable

Not applicable

Rule

Not applicable

SYSC 4.2.9G24

[deleted]24

[deleted]24

[deleted]24

[deleted]24

SYSC 4.3.1R 24

Not applicable27

Rule

Not applicable

Rule 38

SYSC 4.3.2R 24

Not applicable27

Rule

Not applicable

Guidance 38but42 applies as a rule to an operator of an electronic system in relation to lending42

SYSC 4.3.2AG 24

Not applicable

Not applicable

Not applicable

Guidance (but not applicable to42 an operator of an electronic system in relation to lending)42

SYSC 4.3.3G 24

Guidance

Guidance

Not applicable

Guidance 38

14 SYSC 4.3A.-1R 24

[deleted]45

[deleted]45

[deleted]45

[deleted]45

10 SYSC 4.3A.1R 24

Rule 45

Rule for a 45UCITS investment firm

Not applicable

Not applicable

27 SYSC 4.3A.1AR

Rule 3445

Rule for a 45UCITS investment firm

Not applicable

Not applicable

10 SYSC 4.3A.2R 24

Rule 45

Rule for a 45UCITS investment firm

Not applicable

Not applicable

27 SYSC 4.3A.2AG

Guidance 3445

Guidance for a 45UCITS investment firm

Not applicable

Not applicable

10 SYSC 4.3A.3R 24

Rule 2745

Rule for a 45UCITS investment firm

Not applicable

Not applicable

41 SYSC 4.3A.3AG

Guidance

Guidance for a 45UCITS investment firm

Not applicable

Not applicable

10 SYSC 4.3A.4R 24

Rule 2745

Rule for a 45UCITS investment firm

Not applicable

Not applicable

10 SYSC 4.3A.5R 24

Rule 2745

Rule for a UCITS investment firm45

Not applicable

Not applicable

10 SYSC 4.3A.6R 24

Rule 2745

Rule for a 45UCITS investment firm

Not applicable

Not applicable

10 SYSC 4.3A.7R 24

Rule 2745

Rule for a 45UCITS investment firm

Not applicable

Not applicable

45 SYSC 4.3A.7AR

Rule (except for a MIFIDPRU investment firm)

Not applicable

Not applicable

Not applicable

45 SYSC 4.3A.7BG

Guidance for a MIFIDPRU investment firm

Guidance for a UCITS investment firm

Not applicable

Not applicable

10 SYSC 4.3A.8R 24

Rule 27 (except for a MIFIDPRU investment firm)45

Not applicable45

Not applicable

Not applicable

10 SYSC 4.3A.9R 24

Rule 2745

Rule for a 45UCITS investment firm

Not applicable

Not applicable

10 SYSC 4.3A.10R 24

Rule 2745

Rule for a 45UCITS investment firm

Not applicable

Not applicable

10 SYSC 4.3A.11R 24

Rule applicable to CRR firms

Not applicable45

Not applicable

Not applicable

SYSC 4.4.1R 24

[deleted]24

[deleted]24

[deleted]24

[deleted]24

SYSC 4.4.1AR

Not applicable

Not applicable

Not applicable

As specified in SYSC 4.4.1AR40

SYSC 4.4.2G 24

Not applicable

Not applicable

Not applicable

Guidance only applying to the firms specified in 24SYSC 4.4.1A R8

SYSC 4.4.3R 24

Not applicable

Not applicable

Not applicable

Rule only applying to the firms specified in24SYSC 4.4.1A R8

SYSC 4.4.4G 24

Not applicable

Not applicable

Not applicable

Guidance only applying to the firms specified in24SYSC 4.4.1A R8

SYSC 4.4.5R 24

Not applicable

Not applicable

Not applicable

Rule only applying to the firms specified in24SYSC 4.4.1A R8

SYSC 4.4.6G 24

Not applicable

Not applicable

Not applicable

Guidance only applying to the firms specified in24SYSC 4.4.1A R8

36

36

36

36

36

36

36

36

36

36

36

36

36

36

36

36

36

36

36

36

27 SYSC 5.1.-2G

Guidance

Not applicable save in relation to a UCITS investment firm and its MiFID business

Not applicable

Not applicable

27 SYSC 5.1.-1G

Not applicable

Not applicable

Not applicable

Not applicable

SYSC 5.1.1R 24

Not applicable27

Rule

Not applicable

Rule

SYSC 5.1.2G 24

Guidance

Guidance

Guidance

Guidance

SYSC 5.1.3G 24

Guidance

Guidance

Not applicable

Guidance

33 SYSC 5.1.3AG

Guidance

Guidance

Guidance

Guidance

SYSC 5.1.4G 24

Guidance

Guidance

Guidance

Guidance

SYSC 5.1.4AG 24

Guidance

Guidance

Guidance

Guidance

SYSC 5.1.5G 24

Guidance

Guidance

Guidance

Guidance

SYSC 5.1.5AG 24

Guidance

Guidance

Guidance

Guidance

28 SYSC 5.1.5AAR

Rule

Not applicable save in relation to a UCITS investment firm and its MiFID business

Not applicable

38

Not applicable

28 SYSC 5.1.5ABR

Rule

Not applicable save in relation to a UCITS investment firm and its MiFID business

Not applicable

38

Not applicable

28 SYSC 5.1.5ACG

Guidance

Not applicable save in relation to a UCITS investment firm and its MiFID business

Not applicable

38

Not applicable

28 SYSC 5.1.5ADG

[deleted]38

28 SYSC 5.1.5AEG

[deleted]38

33 SYSC 5.1.5BR

Rule

Rule

Rule

Rule

SYSC 5.1.6R 24

Not applicable27

Rule

Guidance

Guidance

SYSC 5.1.7R 24

Rule

Rule for a UCITS investment firm; otherwise guidance

Guidance

Guidance

SYSC 5.1.7AG 24

Not applicable

Not applicable to a UCITS investment firm; otherwise guidance

Guidance

Guidance

SYSC 5.1.8G 24

Guidance

Guidance

Guidance

Guidance

SYSC 5.1.9G 24

Guidance

Guidance

Guidance

Guidance

SYSC 5.1.10G 24

Guidance

Guidance

Guidance, but not applicable for the segregation of risk management functions

Guidance

SYSC 5.1.11G 24

Guidance

Guidance

Guidance

Guidance

SYSC 5.1.12R 24

Not applicable27

Rule

Not applicable

Guidance

SYSC 5.1.12AG 24

Not applicable

Not applicable

Not applicable

Guidance

SYSC 5.1.13R 24

Not applicable27

Rule

Not applicable

Rule

SYSC 5.1.14R 24

Not applicable27

Rule

Not applicable

Guidance

SYSC 5.1.15G 24

Not applicable

Not applicable

Not applicable

Guidance

36

36

36

36

36

25

25

25

.25

25

27 SYSC 6.1.-2G

Guidance

Not applicable save in relation to a UCITS investment firm and its MiFID business

Not applicable

Not applicable

27 SYSC 6.1.-1G

Not applicable

Not applicable

Not applicable

Not applicable

SYSC 6.1.1R 24

Rule

Rule

Rule but only regarding the obligation to establish, implement and maintain adequate policies and procedures for countering the risk that the firm (including its managers and employees) might be used to further financial crime

Rule

SYSC 6.1.1AG 24

Guidance

Guidance

Guidance

Guidance

SYSC 6.1.2R 24

Not applicable27

Rule

Not applicable

Guidance, but applies as a rule to an operator of an electronic system in relation to lending39

SYSC 6.1.2AG 24

Not applicable

Not applicable

Not applicable

Guidance, but applies as a rule to an operator of an electronic system in relation to lending39

SYSC 6.1.3R 24

Not applicable27

Rule

Not applicable

Guidance, but applies as a rule to an operator of an electronic system in relation to lending.39

For firms other than an operator of an electronic system in relation to lending, this39 provision shall be read with the following additional sentence at the start. "Depending on the nature, scale and complexity of its business, it may be appropriate for a firm to have a separate compliance function. Where a firm has a separate compliance function, the firm should also take into account SYSC 6.1.3R27 and SYSC 6.1.4R27 as guidance."

SYSC 6.1.3AG 24

Not applicable

Not applicable

Not applicable

Guidance, but does not apply to an operator of an electronic system in relation to lending39

SYSC 6.1.4R 24

Not applicable27

Rule

Not applicable

(1), (3) and (4): Guidance;27

(2):27

- Rule for firms which carry on designated investment business with or for retail clients or professional clients.27

- Guidance for all other firms.27

Applies as a rule to an operator of an electronic system in relation to lending. 39

SYSC 6.1.4-AG 24

Guidance27

Not applicable

Rule

Guidance

SYSC 6.1.4AR 24

Not applicable

Not applicable

Not applicable

Rule for firms which carry on designated investment business with or for retail clients or professional clients.12

SYSC 6.1.4BG 24

Not applicable

Not applicable

Guidance

Not applicable

27 SYSC 6.1.4-CG

Guidance applies to relevant authorised persons only

Not applicable

Not applicable

Not applicable

SYSC 6.1.4CR 24

Not applicable

Not applicable

Not applicable

As specified in SYSC 6.1.4CR.40

SYSC 6.1.5R 24

Not applicable27

Rule

Not applicable

- Guidance, but applies as a rule to an operator of an electronic system in relation to lending39

- "investment services and activities" shall be read as "financial services and activities"

SYSC 6.1.6G 24

Not applicable

Not applicable

Not applicable

Guidance, but does not apply to an operator of an electronic system in relation to lending39

SYSC 6.1.7R 24

Rule

Rule for a UCITS investment firm; otherwise not applicable

Not applicable

Guidance

39 SYSC 6.1.8G

Not applicable

Not applicable

Not applicable

Only applies to an operator of an electronic system in relation to lending

SYSC 6.2.1R 24

Not applicable27

Rule

Not applicable

Guidance, but applies as a rule to an operator of an electronic system in relation to lending39

SYSC 6.2.1AG 24

Not applicable

Not applicable

Not applicable

Guidance, but does not apply to an operator of an electronic system in relation to lending39

27 SYSC 6.2.1BG

Guidance applies to relevant authorised persons only

Not applicable

Not applicable

Not applicable

SYSC 6.2.2G 24

Guidance

Guidance

Not applicable

Guidance

SYSC 6.3.1R 24

Rule

Rule

Rule

Rule

For firms carrying on a credit-related regulated activity or regulated claims management activity37, or operating an electronic system in relation to lending,17 applies only where the 13Money Laundering Regulations apply to the firm. Rule does not apply to a firm for which a professional body listed in Schedule 129 to the Money Laundering Regulations, and not the FCA, acts as the supervisory authority for the purposes of those regulations.15(FCA Handbook only)12

SYSC 6.3.2G 24

Guidance

Guidance

Guidance

Guidance

For firms carrying on a credit-related regulated activity or regulated claims management activity37, or operating an electronic system in relation to lending,17 applies only where the 13Money Laundering Regulations apply to the firm. Guidance does not apply to a firm for which a professional body listed in Schedule 129 to the Money Laundering Regulations, and not the FCA, acts as the supervisory authority for the purposes of those regulations.15(FCA Handbook only)12

SYSC 6.3.3R 24

Rule

Rule

Rule

Rule

For firms carrying on a credit-related regulated activity or regulated claims management activity37, or operating an electronic system in relation to lending,17 applies only where the 13Money Laundering Regulations apply to the firm. Rule does not apply to a firm for which a professional body listed in Schedule 129 to the Money Laundering Regulations, and not the FCA, acts as the supervisory authority for the purposes of those regulations.15(FCA Handbook only)12

SYSC 6.3.4G 24

Guidance

Guidance

Guidance

Guidance

For firms carrying on a credit-related regulated activity or regulated claims management activity37, or operating an electronic system in relation to lending,17 applies only where the 13Money Laundering Regulations apply to the firm. Guidance does not apply to a firm for which a professional body listed in Schedule 129 to the Money Laundering Regulations, and not the FCA, acts as the supervisory authority for the purposes of those regulations. 15 (FCA Handbook only)12

SYSC 6.3.5G 24

Guidance

Guidance

Guidance

Guidance

For firms carrying on a credit-related regulated activity or regulated claims management activity37, or operating an electronic system in relation to lending,17 applies only where the 13Money Laundering Regulations apply to the firm. Guidance does not apply to a firm for which a professional body listed in Schedule 129 to the Money Laundering Regulations, and not the FCA, acts as the supervisory authority for the purposes of those regulations. 15(FCA Handbook only)12

SYSC 6.3.6G 24

Guidance

Guidance

Guidance

Guidance

For firms carrying on a credit-related regulated activity or regulated claims management activity37, or operating an electronic system in relation to lending,17 applies only where the 13Money Laundering Regulations apply to the firm. Guidance does not apply to a firm for which a professional body listed in Schedule 129 to the Money Laundering Regulations, and not the FCA, acts as the supervisory authority for the purposes of those regulations. 15 (FCA Handbook only)12

SYSC 6.3.7G 24

Guidance

Guidance

Guidance

Guidance

For firms carrying on a credit-related regulated activity or regulated claims management activity37, or operating an electronic system in relation to lending,17 applies only where the 13Money Laundering Regulations apply to the firm. Guidance does not apply to a firm for which a professional body listed in Schedule 129 to the Money Laundering Regulations, and not the FCA, acts as the supervisory authority for the purposes of those regulations. 15 (FCA Handbook only)12

SYSC 6.3.8R 24

Rule

Rule

Rule

Rule

For firms carrying on a credit-related regulated activity or regulated claims management activity37, or operating an electronic system in relation to lending,17 applies only where the 13Money Laundering Regulations apply to the firm. Rule does not apply to a13firm with a limited permission for entering into a regulated credit agreement as lender. Rule does not apply to a firm for which a professional body listed in Schedule 129 to the Money Laundering Regulations, and not the FCA, acts as the supervisory authority for the purposes of those regulations. 15(FCA Handbook only)12

SYSC 6.3.9R 24

Rule

Rule

Rule

Rule

For firms carrying on a credit-related regulated activity or regulated claims management activity37, or operating an electronic system in relation to lending,17 applies only where the 13Money Laundering Regulations apply to the firm. Rule does not apply to a13firm with a limited permission for entering into a regulated credit agreement as lender. Rule does not apply to a firm for which a professional body listed in Schedule 129 to the Money Laundering Regulations, and not the FCA, acts as the supervisory authority for the purposes of those regulations. 15(FCA Handbook only)12

SYSC 6.3.10G 24

Guidance

Guidance

Guidance

Guidance

For firms carrying on a credit-related regulated activity or regulated claims management activity37, or operating an electronic system in relation to lending,17 applies only where the 13Money Laundering Regulations apply to the firm. Guidance does not apply to a firm for which a professional body listed in Schedule 129 to the Money Laundering Regulations, and not the FCA, acts as the supervisory authority for the purposes of those regulations.15 (FCA Handbook only)12

SYSC 6.3.11G 24

Guidance

Guidance

Guidance

Guidance

For firms carrying on a credit-related regulated activity or regulated claims management activity37, or operating an electronic system in relation to lending,17 applies only where the 13Money Laundering Regulations apply to the firm.Guidance does not apply to a firm for which a professional body listed in Schedule 129 to the Money Laundering Regulations, and not the FCA, acts as the supervisory authority for the purposes of those regulations. 15 (FCA Handbook only)12

27 SYSC 7.1.-2G

Guidance

Not applicable save in relation to a UCITS investment firm and its MiFID business

Not applicable

Not applicable

27 SYSC 7.1.-1G

Not applicable

Not applicable

Not applicable

Not applicable

SYSC 7.1.1G 24

Guidance

Guidance

Not applicable

Guidance

SYSC 7.1.2R 24

Not applicable27

Rule for a UCITS investment firm in relation to its non-MiFID business27; otherwise guidance

Not applicable

Guidance, but applies as a rule to an operator of an electronic system in relation to lending39

SYSC 7.1.2AG 24

Not applicable

Not applicable to a UCITS investment firm; otherwise guidance

Not applicable

Guidance, but does not apply to an operator of an electronic system in relation to lending39

SYSC 7.1.2BG 24

Not applicable

Guidance

Not applicable

Not applicable

SYSC 7.1.3R 24

Not applicable27

Rule for a UCITS investment firm in relation to its non-MiFID business27; otherwise guidance

Not applicable

Guidance, but applies as a rule for an operator of an electronic system in relation to lending39

SYSC 7.1.4R 24

Rule

Rule for a UCITS investment firm; otherwise guidance

Not applicable

Guidance, but applies as a rule to an operator of an electronic system in relation to lending39

SYSC 7.1.4AG 24

Guidance27 for a MIFIDPRU investment firm45

Guidance for a UCITS investment firm45

Not applicable

Guidance

SYSC 7.1.4BG 24

Not applicable

Rule for a UCITS investment firm; otherwise guidance

Not applicable

Guidance

SYSC 7.1.5R 24

Not applicable27

Rule for a UCITS investment firm in relation to its non-MiFID business27; otherwise guidance

Not applicable

Guidance, but applies as a rule to an operator of an electronic system in relation to lending39

SYSC 7.1.6R 24

Not applicable27

Rule for a UCITS investment firm in relation to its non-MiFID business27; otherwise guidance

Not applicable

Guidance, but applies as a rule to an operator of an electronic system in relation to lending39

SYSC 7.1.7R 24

Not applicable27

Rule for a UCITS investment firm in relation to its non-MiFID business27; otherwise guidance

Not applicable

Guidance, but applies as a rule to an operator of an electronic system in relation to lending39

SYSC 7.1.7AG 24

Not applicable

Rule for a UCITS investment firm; otherwise guidance

Not applicable

Guidance, but does not apply to an operator of an electronic system in relation to lending39

SYSC 7.1.7BG 24

Guidance applicable to a CRR firm

Not applicable45

Guidance

Guidance

SYSC 7.1.7BAG 24

Not applicable

Not applicable

Guidance

Not applicable

14 SYSC 7.1.7BBG 24

[deleted]45

[deleted]45

[deleted]45

[deleted]45

SYSC 7.1.7BDG 45

Guidance applies only to a MIFIDPRU investment firm

Guidance applies only to a UCITS investment firm

Not applicable

Not applicable

SYSC 7.1.7CG 24

Guidance

Guidance

Guidance

Guidance

SYSC 7.1.8G 10 24

Guidance27

Guidance27

Guidance27

Guidance27

SYSC 7.1.9R

[deleted]45

[deleted]45

[deleted]45

[deleted]45

SYSC 7.1.10R 24

[deleted]45

[deleted]45

[deleted]45

[deleted]45

SYSC 7.1.11R 24

[deleted]45

[deleted]45

[deleted]45

[deleted]45

SYSC 7.1.12G 24

[deleted]45

[deleted]45

[deleted]45

[deleted]45

SYSC 7.1.13R -

7.1.16R 24

[deleted]45

[deleted]45

[deleted]45

[deleted]45

SYSC 7.1.16AG 24

[deleted]27

[deleted]27

[deleted]27

[deleted]27

SYSC 7.1.16BG 24

[deleted]27

[deleted]27

[deleted]27

[deleted]27

14 SYSC 7.1.16CR 24

[deleted]45

[deleted]45

[deleted]45

[deleted]45

SYSC 7.1.17R 24

Rule applies to a CRR firm

Not applicable45

Not applicable

Not applicable

SYSC 7.1.18R 24

Rule applies to a CRR firm

Not applicable45

Not applicable

Not applicable

14 SYSC 7.1.18AAG 27 24

Guidance27 applies to a CRR firm

Not applicable45

Not applicable

Not applicable

14 SYSC 7.1.18BR 24

Rule applies to a CRR firm

Not applicable45

Not applicable

Not applicable

SYSC 7.1.19R 24

Rule applies to a CRR firm

Not applicable45

Not applicable

Not applicable

SYSC 7.1.20R 24

Rule applies to a CRR firm

Not applicable45

Not applicable

Not applicable

SYSC 7.1.21R 24

Rule applies to a CRR firm

Not applicable45

Not applicable

Not applicable

SYSC 7.1.22R 24

Rule applies to a CRR firm

Not applicable45

Not applicable

Not applicable

27 SYSC 7.1.23G

Guidance applies to UK relevant authorised persons and third country relevant authorised persons only

Not applicable

Not applicable

Not applicable

27 SYSC 8.1.-2G

Guidance

Not applicable save in relation to a UCITS investment firm and its MiFID business

Not applicable

Not applicable

27 SYSC 8.1.-1G

Not applicable

Not applicable

Not applicable

Not applicable

SYSC 8.1.1R 24

Rule

Rule for a UCITS investment firm; otherwise guidance

Not applicable

Guidance

SYSC 8.1.1AG 24

Not applicable

Not applicable to a UCITS investment firm; otherwise guidance

Not applicable

Guidance

SYSC 8.1.2G 24

Guidance

Guidance

Not applicable

Guidance

SYSC 8.1.3G 24

Guidance

Guidance

Not applicable

Guidance

SYSC 8.1.4R 24

Not applicable27

Rule for a UCITS investment firm; otherwise guidance

Not applicable

Guidance

SYSC 8.1.5R 24

Not applicable27

Rule for a UCITS investment firm; otherwise guidance

Not applicable

Guidance

SYSC 8.1.5AG 24

Not applicable

Rule for a UCITS investment firm; otherwise guidance

Not applicable

Guidance

SYSC 8.1.6R 24

Not applicable27

Rule for a UCITS investment firm in relation to its non-MiFID business; otherwise guidance27

Not applicable

Rule

27 SYSC 8.1.6AG

Guidance for a UCITS investment firm in relation to its MiFID business

Not applicable

Not applicable

Not applicable

SYSC 8.1.7R 24

Not applicable27

Rule for a UCITS investment firm in relation to its non-MiFID business27; otherwise guidance

Not applicable

Guidance

SYSC 8.1.8R 24

Not applicable27

Rule for a UCITS investment firm in relation to its non-MiFID business27; otherwise guidance

Not applicable

Guidance

SYSC 8.1.9R 24

Not applicable27

Rule for a UCITS investment firm in relation to its non-MiFID business27; otherwise guidance

Not applicable

Guidance

SYSC 8.1.10R 24

Not applicable27

Rule for a UCITS investment firm in relation to its non-MiFID business27; otherwise guidance

Not applicable

Guidance

SYSC 8.1.11R 24

Not applicable27

Rule for a UCITS investment firm in relation to its non-MiFID business27; otherwise guidance

Not applicable

Guidance

SYSC 8.1.11AG 24

Not applicable

Not applicable to a UCITS investment firm; otherwise guidance

Not applicable

Guidance

SYSC 8.1.12G 24

Guidance

Guidance

Not applicable

Guidance

SYSC 8.1.13R 24

Not applicable

Rule

Not applicable

Not applicable

SYSC 8.1.14G 24

Not applicable

Guidance

Not applicable

Not applicable

SYSC 8.2 24

[deleted]27

[deleted]27

[deleted]27

[deleted]27

SYSC 8.3 24

[deleted]27

[deleted]27

[deleted]27

[deleted]27

27 SYSC 9.1.-2G

Guidance

Not applicable save in relation to a UCITS investment firm and its MiFID business

Not applicable

Not applicable

27 SYSC 9.1.-1G

Not applicable

Not applicable

Not applicable

Not applicable

SYSC 9.1.1R 24

Not applicable27

Rule

Rule but only for the requirement to arrange for orderly records to be kept of its business and internal organisation which do not relate to portfolio transactions and subscription and redemptions orders

Rule

27 SYSC 9.1.1AR

Rule

Not applicable

Not applicable

Not applicable

SYSC 9.1.2R 24

Rule applies only in relation to MiFID business

Rule applies only in relation to MiFID business of a UCITS investment firm

Rule but only for records specified by the modified application of SYSC 9.1.1 R

Not applicable

33 SYSC 9.1.2AR

Rule

Rule

Rule

Rule

33 SYSC 9.1.2BG

Guidance

Guidance

Guidance

Guidance

SYSC 9.1.2CR 47

Rule applicable47 to a firm carrying on insurance distribution in relation to insurance-based investment products

Rule applicable47 to a firm carrying on insurance distribution in relation to insurance-based investment products

Rule applicable47 to a firm carrying on insurance distribution in relation to insurance-based investment products

Rule applicable47 to a firm carrying on insurance distribution in relation to insurance-based investment products

47

47

47

47

47

SYSC 9.1.3R 24

[deleted]27

[deleted]27

[deleted]27

[deleted]27

SYSC 9.1.4G 24

Guidance

Guidance

Guidance

Guidance

SYSC 9.1.5G 24

Guidance

Guidance

Not applicable

Guidance

SYSC 9.1.6G 24

Guidance

Guidance

Not applicable

Guidance

33 SYSC 9.1.6A

Guidance

Guidance

Guidance

Guidance

27 24

[deleted]27

[deleted]27

[deleted]27

[deleted]27

31 SYSC 9.2G

Not applicable

Not applicable

Not applicable

Applicable to credit institutions only38

43 SYSC 10.1. -5G

Not applicable

Not applicable

Not applicable

Guidance in relation to funeral plan distribution

33 SYSC 10.1.-4G

Guidance in relation to insurance distribution activities

Guidance in relation to insurance distribution activities

Guidance in relation to insurance distribution activities

Guidance in relation to insurance distribution activities

33 SYSC 10.1.-3R

Rule in relation to insurance distribution activities

Rule in relation to insurance distribution activities

Rule in relation to insurance distribution activities

Rule in relation to insurance distribution activities

27 SYSC 10.1.-2G

Guidance

Guidance in relation to relation to a UCITS investment firm in relation to its MiFID business; otherwise not applicable

Not applicable

Not applicable

27 SYSC 10.1.-1G

Not applicable

Not applicable

Not applicable

Not applicable

SYSC 10.1.1R 24

Rule

Rule

Not applicable

Rule

SYSC 10.1.1AR 24

Not applicable

Not applicable

Rule

Not applicable

SYSC 10.1.2G 24

Guidance

Guidance

Guidance in relation to insurance distribution activities. Otherwise, not33 applicable

Guidance

SYSC 10.1.3R 24

Rule

Rule

Rule in relation to insurance distribution activities. Otherwise not33 applicable

Rule

SYSC 10.1.4R 24

Not applicable27

Rule, but not applicable in relation to insurance distribution activities33

Not applicable

Guidance - but applies as a rule in relation to the production or arrangement of investment research28, or the production or dissemination of non-independent research,28 in accordance with COBS 12.228

Not applicable in relation to insurance distribution activities33or funeral plan distribution43

SYSC 10.1.4AG 24

Not applicable

Not applicable

Not applicable

Guidance -but not applicable in relation to insurance distribution activities33or funeral plan distribution43

33 SYSC 10.1.4BR

Not applicable

Rule in relation to insurance distribution activities

Rule in relation to insurance distribution activities

Rule in relation to insurance distribution activitiesand funeral plan distribution43

33 SYSC 10.1.4CR

Not applicable

Rule in relation to insurance distribution activities

Rule in relation to insurance distribution activities

Rule in relation to insurance distribution activities and funeral plan distribution43

SYSC 10.1.5G 24

Guidance

Guidance

Not applicable

Guidance

SYSC 10.1.6R 24

Not applicable27

Rule

Rule in relation to insurance distribution activities. Otherwise, not33 applicable

Guidance - but applies as a rule: (a)33 in relation to the production or arrangement of investment research28, or the production or dissemination of non-independent research,28 in accordance with COBS 12.228; and (b) in relation to insurance distribution activities33and funeral plan distribution43

SYSC 10.1.6AG 24

Not applicable

Not applicable

Guidance27 - but not applicable in relation to insurance distribution activities33

Guidance - but not applicable in relation to insurance distribution activities33or funeral plan distribution43

33 SYSC 10.1.6AAR

Not applicable

Rule in relation to insurance distribution activities

Rule in relation to insurance distribution activities

Rule in relation to insurance distribution activitiesand funeral plan distribution43

27 SYSC 10.1.6BG

Not applicable

Guidance

Guidance

Guidance

SYSC 10.1.7R 24

Rule

Rule

Rule in relation to insurance distribution activities. Otherwise not33 applicable

Rule

33 SYSC 10.1.7AR

Rule

Rule

Rule

Rule

SYSC 10.1.8R 24

Rule in relation to insurance distribution activities. Otherwise, not33 applicable

Rule

Rule in relation to insurance distribution activities. Otherwise, not33 applicable

Rule

24 33

33

33

33

33

SYSC 10.1.9G 24

Not applicable27

Guidance

Not applicable

Guidance

27 SYSC 10.1.9AR

Not applicable

Rule in relation to insurance distribution activities. Otherwise, not33 applicable

Rule in relation to insurance distribution activities. Otherwise, not33 applicable

Guidance - but applies as a rule in relation to insurance distribution activities and funeral plan distribution43

SYSC 10.1.10R 24

Not applicable27

Rule

Rule in relation to insurance distribution activities. Otherwise, not33 applicable

Guidance - but applies as a rule: (a)33 in relation to the production or arrangement of investment research28, or the production or dissemination of non-independent research,28 in accordance with COBS 12.228; and (b) in relation to insurance distribution activities33 and funeral plan distribution43

SYSC 10.1.11R 24

Not applicable27

Rule

Rule in relation to insurance distribution activities. Otherwise, not33 applicable

Guidance - but applies as a rule: (a)33 in relation to the production or arrangement of investment research28, or the production or dissemination of non-independent research,28 in accordance with COBS 12.228; and (b) in relation to insurance distribution activities and funeral plan distribution43

SYSC 10.1.11AG 24

Not applicable

Not applicable

Guidance27 - but not applicable in relation to insurance distribution activities33

Guidance - but not applicable in relation to insurance distribution activities33 or funeral plan distribution43

33 SYSC 10.1.11AAR

Not applicable

Rule in relation to insurance distribution activities

Rule in relation to insurance distribution activities

Rule in relation to insurance distribution activities and funeral plan distribution43

33 SYSC 10.1.11ABR

Rule in relation to insurance distribution activities

Not applicable

Not applicable

Not applicable

27 SYSC 10.1.11BG

Not applicable

Guidance

Guidance

Guidance

SYSC 10.1.12G 27 24

Guidance30

Guidance27

Guidance27

Guidance

27 SYSC 10.1.13 - 10.1.15G

[deleted]27

[deleted]27

[deleted]27

[deleted]27

SYSC 10.1.16R 24

Not applicable

Not applicable

Not applicable

Rule

SYSC 10.1.17R 24

Not applicable

Rule

Not applicable

Not applicable

SYSC 10.1.18G

[FCA]

Not applicable

Guidance

Not applicable

Not applicable

SYSC 10.1.19R 24

Not applicable

Rule

Not applicable

Not applicable

SYSC 10.1.20R 24

Not applicable

Rule

Not applicable

Not applicable

SYSC 10.1.21R 24

Not applicable

Rule

Not applicable

Not applicable

SYSC 10.1.22R 24

Not applicable

Rule

Rule

Not applicable

SYSC 10.1.23R to SYSC 10.1.26R24

Not applicable

Not applicable

Rule

Not applicable

33 SYSC 10.1A

R47

Rules applicable47 to a firm carrying on insurance distribution in relation to insurance-based investment products

R47

Rules applicable47 to a firm carrying on insurance distribution in relation to insurance-based investment products

R47

Rules applicable47 to a firm carrying on insurance distribution in relation to insurance-based investment products

R47

Rules applicable47 to a firm carrying on insurance distribution in relation to insurance-based investment products

SYSC 10.2.1R 24

Rule

Rule

Rule

Rule

SYSC 10.2.2R 24

Rule

Rule

Rule

Rule

SYSC 10.2.3G 24

Guidance

Guidance

Guidance

Guidance

SYSC 10.2.4R 24

Rule

Rule

Rule

Rule

SYSC 10.2.5G 24

Guidance

Guidance

Guidance

Guidance

SYSC 4.1.-2G

Not applicable

Not applicable

SYSC 4.1.-1G

Guidance

Guidance

SYSC 4.1.1R

Rule

Rule

SYSC 4.1.1AR

Not applicable

Not applicable

SYSC 4.1.1BR

Not applicable

Not applicable

45

SYSC 4.1.1DR

Not applicable

Not applicable

SYSC 4.1.1ER

Not applicable

Not applicable

SYSC 4.1.1FG

Not applicable

Not applicable

SYSC 4.1.2R

Rule