Related provisions for SUP 9.2.4

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APER 4.2.2ERP
In the opinion of the FSA, conduct of the type described in APER 4.2.3 E, APER 4.2.5 E, APER 4.2.6 E, APER 4.2.8 E, APER 4.2.10 E, APER 4.2.11 E or APER 4.2.13 E does not comply with Statement of Principle 2 (APER 2.1.2 P).
MAR 1.1.2GRP
This chapter provides assistance in determining whether or not behaviour amounts to market abuse. It also forms part of the UK's implementation of the Market Abuse Directive (including its EU implementing legislation, that is Directive 2003/124/EC, Directive 2003/125/EC, Regulation 2273/2003 and Directive 2004/72/EC). It is therefore likely to be helpful to persons who:(1) want to avoid engaging in market abuseor to avoid requiring or encouraging another to do so; or(2) want to
MAR 1.1.3GRP
The FSA's statement of policy about the imposition and amount of penalties in cases of market abuse (required by section 124 of the Act) is in ENF 14 .
PERG 7.1.2GRP
The purpose of this chapter is to provide guidance as to:(1) when a person involved in publishing periodicals, or in providing news services or broadcasts, requires authorisation to carry on the regulated activities of advising on investments or advising on regulated mortgage contracts (see PERG 7.3 (Does the activity require authorisation));(2) if he does, whether he qualifies for the exclusion from those activities that applies to a periodical publication, a regularly updated
PERG 7.1.3GRP
This guidance is issued under section 157of the Act. The guidance represents the FSA's views and does not bind the courts, for example in relation to an action for damages brought by a private person for breach of a rule (see section 150of the Act (Actions for damages)), or in relation to the enforceability of a contract where there has been a breach of section 19 (The general prohibition) of the Act (see section 26 of the Act (Enforceability of agreements)). Although the guidance
LR 19.2.2RRP
An applicant for the admission of securitised derivatives must either:(1) have permission under the Act to carry on its activities relating to securitised derivatives and be either a bank or a securities and futures firm;(2) if the applicant is an overseas company:(a) be regulated by an overseas regulator responsible for the regulation of banks, securities firms or futures firms and which has a lead regulation agreement for financial supervision with the FSA; and(b) be carrying
LR 19.2.4RRP
The FSA may modify or dispense with the requirement in LR 19.2.3 R for other derivative products.
REC 5.1.1GRP
A body corporate or an unincorporated association may apply to the FSA for recognition as a UK recognised body under sections 287 (Application by an investment exchange) or 288 (Application by a clearing house) of the Act.
DISP 1.1.12RRP
The purpose of this chapter is to set out the rules relating to the internal handling of complaints by firms, including the procedures which a firm must put in place; the time limits within which a firm must deal with a complaint; the referral of complaints,4 the records of a complaint which a firm must make and retain; and the requirements on a firm to report information about complaints to the FSA. This is to ensure that complaints are handled fairly, effectively and promptly,
PERG 8.15.3GRP
The FSA considers that, to satisfy the condition in PERG 8.15.2G (2) that an activity be incidental to the provision of professional services, regulated activities cannot be a major part of the practice of the professional firm. The FSA also considers that the following further factors are relevant.(1) The scale of regulated activity in proportion to other professional services provided.(2) Whether and to what extent services that are regulated activities are held out as separate
PERG 8.15.7GRP
The article 55A exemption should enable professional firms to issue brochures, websites and other non-real time financial promotions without any need for approval by an authorised person. This is provided the financial promotion does not also contain an invitation or inducement relating to regulated activities other than those covered by the Part XX exemption. In this respect, it should be noted that, unlike article 55, the article 55A exemption does not extend to activities which
REC 1.1.2GRP
(1) Recognised bodies are exempt persons under section 285 of the Act (Exemption for recognised investment exchanges and clearing houses).(2) UK recognised bodies must satisfy recognition requirements prescribed by the Treasury (in certain cases with the approval of the Secretary of State) in the Recognition Requirements Regulations. Overseas recognised bodies must satisfy recognition requirements laid down in section 292 of the Act (Overseas investment exchanges and overseas
REC 1.1.3GRP
(1) The recognition requirements for UK recognised bodies are set out, with guidance, in REC 2.(2) The notification rules for UKrecognised bodies are set out in REC 3 together with guidance on those rules.(3) Guidance on the FSA's approach to the supervision of recognised bodies is given in REC 4.(4) Guidance for applicants (and potential applicants) for UK recognised body status is given in REC 5.(5) The recognition requirements, notification rules, and guidance for overseas
DTR 1.1.1RRP
1The disclosure rules apply as follows:(1) DTR 1 and DTR 2 apply to an issuer whose financial instruments are admitted to trading on a regulated market in the United Kingdom or for which a request for admission to trading on a regulated market in the United Kingdom has been made;(2) DTR 3 applies to an issuer that is incorporated in the United Kingdom:(a) whose financial instruments are admitted to trading on a regulated market; or(b) for whose financial instruments a request
DTR 1.1.3GRP
In relation to the disclosure rules, the FSA is exercising its functions as the competent authority under Part VI of the Act (see section 72(1) of the Act).Other relevant parts of HandbookNote: Other parts of the Handbook that may also be relevant to persons to whom the disclosure rules apply include DEC (the Decision making manual), Chapter 9 of SUP (the Supervision manual) and Chapter 21 of ENF (the Enforcement manual).Note: A list of regulated markets can be found on the FSA
REC 2.7.3GRP
In assessing whether access to a UK recognised body's facilities is subject to criteria designed to protect the orderly functioning of the market, or of those facilities, and the interests of investors, the FSA may have regard to whether: (1) the UK recognised body limits access as a member to persons:(a) over whom it can with reasonable certainty enforce its rules contractually;(b) who have sufficient technical competence to use its facilities;(c) whom it is appropriate to admit
PERG 4.8.6GRP
If an unauthorised administrator makes arrangements for a mortgage administrator to administer its regulated mortgage contracts, the exclusion may cease to be available because the mortgage administrator ceases to have the required permission, or because the arrangement is terminated. The exclusion gives the unauthorised administrator a one-month grace period during which it may administer the contracts itself. If the period of administration exceeds one month, the unauthorised
PERG 4.8.7GRP
Under article 63 of the Regulated Activities Order, a person who is not an authorised person does not administer a regulated mortgage contract if he administers the contract under an agreement with a firm with permission to administer a regulated mortgage contract. A firm with permission to administer a regulated mortgage contract may thus outsource or delegate the administration function to an unauthorised third party. A firm that proposes to do this should however note, as set
SUP 16.4.4GRP
A firm and its controllers are required to notify certain changes in control (See SUP 11 (Controllers and close links)). The purpose of the rules and guidance in this section is:(1) to ensure that, in addition to such notifications, the FSA receives regular and comprehensive information about the identities of all of the controllers of a firm, which is relevant to a firm's continuing to satisfy the threshold conditions (see COND 2.3) and to the protection of consumers; (2) to
SUP 16.4.5RRP
(1) A firm must submit a report to the FSA annually, containing the information in (3) or (4) (as applicable).(2) A firm must submit the report in (1) to the FSA within four months of the firm'saccounting reference date.(3) If a firm is not aware:(a) that it has any controllers; or(b) of any changes in the identity of its controllers since the submission of its previous report under (1); or(c) of any changes in the percentage of shares or voting power in the firm held by any controllers
SUP 13.2.2GRP
A UK firm should be aware that the guidance is the FSA's interpretation of the Single Market Directives, the Act and the legislation made under the Act. The guidance is not exhaustive and is not a substitute for firms consulting the legislation or taking their own legal advice in the United Kingdom and in the relevant EEA States.
MAR 4.3.2GRP
(1) The Takeover Panel publishes notices regarding compliance with the Takeover Code and SARs. It may also, from time to time, name in those notices persons as persons that, in the Takeover Panel's opinion, are not likely to comply with the Takeover Code or the SARs. Any notices of this type will be available on the Takeover Panel's website (www.thetakeoverpanel.org.uk).(2) A firm should keep itself informed of Takeover Panel notices and take them into account in seeking to comply
MAR 4.3.4GRP
(1) Where a restriction under MAR 4.3.1 R applies, an authorised professional firm is not prevented from providing professional advice or representation in any proceedings to the person where that falls within section 327(8) of the Act. This means that the person can obtain legal advice or representation in any proceedings from a law firm and accounting advice from an accounting firm: see MAR 4.4.1 R (2).(2) While the FSA recognises the duty of authorised professional firms to
REC 1.2.2GRP
(1) Most of the provisions in this sourcebook are marked with a G (to indicate guidance) or an R (to indicate a rule). Quotations from statute or statutory instruments are marked with the letter "D" unless they form part of a piece of guidance. For a discussion of the status of provisions marked with a letter, see Chapter 6 of the Reader's Guide.1(2) Where the guidance states that the FSA may have regard to any factor in assessing or determining whether a recognition requirement
REC 1.2.3GRP
(1) This sourcebook contains quotations from the Act, the Recognition Requirements Regulations and the Companies Act 1989 and, where necessary, words have been added to, or substituted for, the text of these provisions to facilitate understanding.(2) The additions and substitutions are enclosed in square brackets ([ ]). The omission of words within a quotation is indicated by three dots (...).(3) Any words in these quotations which have the same meaning as Handbook defined terms
COND 2.2.3GRP
Neither the Post BCCI Directive, the Insurance Mediation Directive nor the Act define what is meant by a firm's 'head office'. This is not necessarily the firm's place of incorporation or the place where its business is wholly or mainly carried on. Although the FSA will judge each application on a case-by-case basis, the key issue in identifying the head office of a firm is the location of its central management and control, that is, the location of: 1(1) the directors and other
PERG 8.20.2GRP
Section 21 precludes the promotion by unauthorised persons of unregulated collective investment schemes unless the financial promotion is approved by an authorised person or is exempt. Section 238 then precludes the promotion of an unregulated collective investment scheme by authorised persons except where:(1) there is an exemption in an order made by the Treasury under section 238(6); or(2) the financial promotion is permitted under rules made by the FSA under section 238(5)
PERG 8.20.4GRP
The FSA has made rules under section 238(5) which allow authorisedfirms to communicate or approve a financial promotion for an unregulated collective investment scheme in certain specified circumstances. These circumstances are set out in COB 3 Annex 5 R and referred to in COB 3.11. To date, the Treasury has not made an order exempting single property schemes under section 239.
COLL 7.5.1GRP
(1) The FSA expects that the majority of requests it will receive for the winding up of an authorised fund (under regulation 21(1) of the OEIC Regulations or under section 256 of the Act) or termination of a sub-fund will be from authorised fund managers and depositaries who consider that the AUT, ICVC or sub-fund in question is no longer commercially viable.(2) It is in consumers' interests to minimise, as far as possible, the period between which the FSA receives such requests
COLL 7.5.2GRP
The information referred to in COLL 7.5.1 G is listed below:(1) the name of the authorised fund or sub-fund;(2) the size of the authorised fund or sub-fund;(3) the number of unitholders; (4) whether dealing in units has been suspended;(5) why the request is being made; (6) what consideration has been given to the authorised fund or sub-fund entering into a scheme of arrangement with another regulated collective investment scheme and the reasons why a scheme of arrangement is not
PR 4.2.1RRP
If a prospectus relating to an issuer that has its registered office in a country that is not an EEA State is drawn up in accordance with the legislation of that country, the FSA may, if the United Kingdom is the Home State in relation to the issuer, approve the prospectus if it is satisfied that:(1) the prospectus has been drawn up in accordance with international standards set by international securities commission organisations, including the IOSCO disclosure standards; and(2)