Related provisions for MCOB 7.4.2

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MCOB 12.4.3GRP
Firms are also subject to requirements on information provision and standards relating to arrears and repossessions (see MCOB 13 (Arrears and repossessions)).
MCOB 2.4.2GRP
Principle 6 (Customers' interests) requires that a firm must pay due regard to the interests of its customers and treat them fairly. This means, for example, that a firm should avoid selling practices that commit customers (or lead customers to believe that they are committed) to any regulated mortgage contract before they have been able to consider the illustration and offer document. One such practice might be to present a new customer with an illustration, offer document and
MCOB 2.4.3GRP
Principle 7 (Communications with clients) requires that a firm must pay due regard to the information needs of its clients, and communicate information to them in a way which is clear, fair and not misleading. This means, for example, that a firm should avoid giving any customer a false impression about the availability of a regulated mortgage contract, such as describing it as a 'special offer' not available after a certain date unless this is really the case.
MCOB 2.5.3ERP
(1) In relying on MCOB 2.5.2 R, a firm should take reasonable steps to establish that the other person providing the information is: (a) not connected with the firm; and(b) competent to provide the information.(2) Compliance with (1) may be relied on as tending to establish compliance with MCOB 2.5.2 R.(3) Contravention of (1) may be relied on as tending to establish contravention of MCOB 2.5.2 R.
MCOB 2.5.4RRP
(1) Any information which a rule in MCOB requires to be sent to a customer may be sent to another person on the instruction of the customer, so long as the recipient is not connected with the firm. (2) There is no need for a firm to send information to a customer where it has taken reasonable steps to establish that this has been or will be supplied by another person.
DISP 1.5.4RRP
A firm must provide the FSA, twice a year, with a report in the format set out in DISP 1 Annex 1R which contains (for the relevant reporting period) information about:2(1) the total number of complaints subject to DISP 1.4 to DISP 1.6 received by the firm, broken down according to the categories and in respect of each of the generic product types described in DISP 1 Annex 1R which are relevant to the firm;2(2) the total number of complaints subject to DISP 1.4 - DISP 1.6 closed
DISP 1.5.5GRP
Where a complaint could fall into more than one category, the complaint should be recorded in the category which the firm considers to form the main part of the complaint.
DISP 1.5.6RRP
For the purposes of DISP 1.5.4 R:(1) the relevant reporting periods are from 1 April to 30 September and from 1 October to 31 March each year; and(2) reports are to be submitted to the FSA within one month of the end of the relevant reporting period.
MCOB 1.2.7RRP
In relation to a regulated mortgage contract for a business purpose, if a firm has opted for the tailored route inMCOB 1.2.3 R(2), it must adopt the following modifications to the provisions in MCOB:(1) (except in relation to sections 6 and 8 of any initial disclosure document provided in accordance with MCOB 4.4.1 R(1)(c)(i) or sections 5 and 8 of any initial disclosure document provided in accordance with MCOB 4.4.1 R(1)(c)(ii)) substitute an alternative description of the facility
MCOB 4.6.1GRP
A retail customer has no right to cancel a regulated mortgage contract concluded with a firm but may have a right to cancel a distance contract concluded with a mortgage intermediaryfor the provision of his services. Whether a mortgage intermediary or a home purchase intermediary concludes a distance mortgage mediation contractwith a retail customer will depend on the circumstances. For example, an intermediary may not, in advising on or arranging a regulated mortgage contract,
MCOB 4.6.2GRP
The information provided in accordance with MCOB 4 Annex 3(5) should be sufficiently clear, prominent and informative to enable the retail customer to understand the right to cancel.
DISP 1.2.1RRP
A firm must have in place and operate appropriate and effective internal complaint handling procedures (which must be written down) for
MCOB 13.5.1RRP
Where an account is in arrears, and the payment shortfall or mortgage shortfall debt is attracting charges, a firm must provide the customer with a regular written statement (at least once a quarter) of the payments due, the actual payment shortfall, the charges incurred and the debt.
MCOB 13.5.2GRP
(1) For the purpose of MCOB 13.5.1 R, charges that trigger the requirement for regular statements include all charges and fees levied directly as a result of the account falling into arrears. This includes charges such as monthly administrative charges, legal fees and interest. If interest is applied to the amount of the arrears, as it is applied to the rest of the mortgage, a firm need not send a written statement, unless other charges are also being made. If interest is applied
MCOB 1.6.4RRP
If, notwithstanding the steps taken by a firm to comply with MCOB 1.6.3 R, it transpires that a mortgage which the firm has treated as unregulated is in fact a regulated mortgage contract, the firm must as soon as practicable after the correct status of the mortgage has been established:(1) contact the customer and provide him with the following information in a durable medium:(a) a statement that the mortgage contract is a regulated mortgage contract subject to FSA regulation,
COLL 7.3.3GRP

This table belongs to COLL 7.3.3 G

Summary of the main steps in winding up a solvent ICVC or terminating a sub-fund under FSA rules, assuming FSA approval.

Notes: N = Notice to be given to the FSA under regulation 21 of OEIC Regulations

E = commencement of winding up or termination

W/U = winding up

FAP = final accounting period (COLL 7.3.8 R(4))

Step number

Explanation

When

COLL rule (unless stated otherwise)

1

Commence preparation of solvency statement

N-28 days

7.3.5 (2)

2

Send audited solvency statement to the FSA with copy to depositary

By N + 21 days

7.3.5 (4) and (5)

3

Receive the FSA approval

N + one month

Regulation 21 of OEIC Regulations

4

Normal business ceases; publish notices

E

7.3.6

5

Realise proceeds, wind up, instruct depositary accordingly

ASAP after E

7.3.7

6

Prepare final account or termination account & have account audited

On completion of W/U or termination

7.3.8

7

Send final account or termination account and auditor's report to the FSA & unitholders

Within 2 months of FAP

7.3.8(6)

8

Request FSA to revoke relevant authorisation order

On completion of W/U

7.3.7(9)

COLL 7.3.10RRP
(1) The ACD need not (as would be required under COLL 4.5.13 R (Provision of short report)) send to each Unitholder a copy of any short report relating to an annual accounting period or half-yearly accounting period which began after commencement of winding up or termination, if the directors of the ICVC, after consulting the FSA, have reasonably determined that this is not required in the interest of unitholders. (2) Where (1) applies, a copy of the short or long report must
COLL 7.4.5RRP
(1) For any annual or half-yearly accounting period which began after commencement of the winding up or termination, the trustee (after consulting the manager (if appropriate) and the FSA) may direct that COLL 4.5.13 R (Provision of short report) may be dispensed with, provided that it has taken reasonable care to determine that the report is not required in the interests of the unitholders.(2) Where (1) applies, a copy of the short and long report must be supplied free of charge
MCOB 5.1.3RRP
(1) This chapter applies if a firm:(a) makes a personal recommendation to a customer to enter into a regulated mortgage contract; or(b) provides information to a customer that is specific to the amount that the customer wants to borrow on a particular regulated mortgage contract, including information provided in response to a request from a customer; or(c) provides the means for a customer to make an application to it;in connection with entering into, or agreeing to enter into,
MCOB 5.1.9GRP
Where part of the loan is not a regulated mortgage contract, for example it is a linked unsecured loan, the details of this loan can be shown in Section 12 of the illustration as an additional feature. It should not be added to the regulated mortgage contract loan amount in MCOB 5.6.6 R(2).
DISP 3.2.5RRP
Where the Ombudsman considers that the complaint or the complainant may be ineligible under the jurisdiction rules (see DISP 2 (Jurisdiction of the Financial Ombudsman Service)) he must give the complainant an opportunity to make representations before he reaches his decision and he must give reasons to the complainant for that decision and inform the firm of his decision.
DISP 3.2.6RRP
DISP 3.2.5 R applies without prejudice to a firm's right to raise the issue of eligibility subsequently.
MCOB 2.7.4RRP
During the course of a distance contract with a retail customer, the making or performance of which constitutes or is part of a regulated mortgage contract:(1) the firm must, at the retail customer's request, provide a paper copy of the contractual terms and conditions of the regulated mortgage contract or of the services being provided by the firm; and (2) the firm must comply with the customer's request to change the means of distance communication used, unless this is incompatible
MCOB 2.7.5RRP
1A firm must ensure that information provided to a retail customer2 before the conclusion of a distance contract about his contractual obligations under that contract conform with the contractual obligations that would be imposed on him under the law applying if the contract were concluded.
SUP 18.2.23GRP
Firms should co-operate fully with the independent expert and provide him with access to all relevant information and appropriate staff.
SUP 18.2.26GRP
The transferor will need to provide the FSA with the information that the Home State regulator requires from FSA. This information includes:(1) the transfer agreement or a draft, with:(a) the names and addresses of the transferor and transferee; and(b) the classes of insurance business and details of the nature of the risks or commitments to be transferred;(2) for the business to be transferred (both before and after reinsurance):(a) the amount of technical provisions;(b) the
MCOB 5.2.1GRP
(1) MCOB 5 amplifies Principle 6 and Principle 7, which require a firm to pay due regard to the information needs of its customers and to treat them fairly.(2) The purpose of MCOB 5 is to ensure that, before a customer submits an application for a particular regulated mortgage contract, he is supplied with information that makes clear:(a) the features of that regulated mortgage contract;(b) the price that the customer will be required to pay under that regulated mortgage contract,