Related provisions for SUP 9.4.3
61 - 80 of 218 items.
Parts of MCOB relate to distance contracts (or distance mortgage mediation contracts) with retail customers. These expressions are derived from the Distance Marketing Directive, and the following paragraphs provide some guidance to firms on their meaning:(1) Retail customerThe Distance Marketing Directive applies for distance contracts with 'any natural person who is acting for purposes which are outside his trade, business or profession', for which the term 'retail customer'
UK domestic firmslisted on
the London Stock Exchange are subject to the Combined Code developed by the Committee
on Corporate Governance, whose internal
control provisions are amplified in the Guidance for Directorsissued by the Institute of Chartered Accountants in
England and Wales. FSA-regulated firms in this category will thus be subject
to that code as well as to the requirements and standards of the regulatory system. In forming an opinion
whether approved persons have
complied
The Regulated Activities Order does not define a reinsurance contract. The essential elements of the common law description of a contract of insurance are also the essential elements of a reinsurance contract. Whilst the IMD addresses insurance and reinsurance separately, throughout this guidance the term 'contract of insurance' (italicised or otherwise) also applies to contracts of reinsurance.
(1) MCOB 6.1 to MCOB 6.6 (with the modifications stated in MCOB 9.5.2 R to MCOB 9.5.4 R) apply to a mortgage lender where the regulated mortgage contract is a regulated lifetime mortgage contract.(2) The table in MCOB 9.5.2 R shows how the relevant rules and guidance in MCOB 6 must be modified by replacing the cross-references with the relevant cross-references to rules and guidance in MCOB 9.4, and MCOB 9.5.(3) The table in MCOB 9.5.3 R replaces certain rules and guidance in
Table of modified cross-references to other rules:
This table belongs to MCOB 9.5.1 R.
Subject |
Rule or guidance |
Reference in rule or guidance |
To be read as a reference to: |
Application: What? |
MCOB 6.1.5R |
MCOB 6 |
|
Content of offer document |
MCOB 6.1.6G |
MCOB 5.6 |
MCOB 9.4 |
Purpose |
MCOB 6.2.1G |
MCOB 6 |
|
General |
MCOB 6.3.2R |
||
Records |
MCOB 6.4.3R |
||
Modifications to the illustration |
MCOB 6.4.5G |
MCOB 6.4.4R(5)(b) |
MCOB 9.5.4R(6)(b) |
Modifications to the illustration |
MCOB 6.4.6R |
MCOB 6.4.4(1) |
MCOB 9.5.4R(1) |
Modifications to the illustration |
MCOB 6.4.6R(1) and (2) |
MCOB 5.6 |
MCOB 9.4 |
Modifications to the illustration |
MCOB 6.4.7R |
MCOB 6.4.4R(1) |
MCOB 9.5.4R(1) |
Modifications to the illustration |
MCOB 6.4.7R(2) |
MCOB 5 |
MCOB 9 |
Modifications to the illustration |
MCOB 6.4.7R(3) |
||
Modifications to the illustration |
MCOB 6.4.7R(3) |
||
Other information contained in the offer document |
MCOB 6.4.13R |
MCOB 5.6.122R |
MCOB 9.4.126R |
Offer documents in place of illustrations |
MCOB 6.6.1R |
(General notification requirements) contains rules and guidance on matters that should be notified to the FSA. Such matters include, but are not limited to, any circumstance that the depositary becomes aware of whilst undertaking its functions or duties in COLL 6.6.4 R (1) (General duties of the depositary) that the FSA would reasonably view as significant.
(1) SYSC 3.2 (Areas covered by systems and controls) contains contains guidance relating to delegation, including external delegation.SYSC 3.2.4 G (1) states that a firm cannot contract out of its regulatory obligations.(2) SUP 15.8.6 R (Delegation by UCITS management companies) requires anauthorised fund manager of a UCITS scheme to inform the FSA whereone of its duties is delegated to another person.
(1) COB 7.1 (Conflict of interest and material interest) applies for scheme management activity and contains rules on the fair treatment of customers where a firm has a conflict of interest in relation to a transaction. COLL 6.6.17 R (1) provides rules for specific circumstances where COB 7.1 would not be appropriate for an authorised fund.(2) Regulation 44 of the OEIC Regulations (Invalidity of certain transactions involving directors) is relevant to the application of COLL
(1) Given the complexity of issues raised by passporting, UK firms are advised to consult legislation and also to obtain legal advice at earliest opportunity. Firms are encouraged to contact their usual supervisory contact at the FSA to discuss their proposals. However, a UK firm which is seeking guidance on procedural or notification issues relating to passporting should contact the Passport Notifications Unit.(2) An applicant for Part IV permission which is submitting a notice
To contact the Passport Notifications Unit, from which a standard form of notice of intention can be obtained:(1) telephone on 020 7066 1000; fax on 020 7066 xxxx; or(2) write to: The Passport Notifications Unit, The Financial Services Authority, 25 The North Colonnade, Canary Wharf, London E14 5HS; or(3) Email: passport.notifications@fsa.gov.uk
The purpose of SUP 2.3 is to amplify Principle 11 in the context of information gathering by the FSA on its own initiative in the discharge of its functions under the Act. SUP 2.3 therefore sets out, in guidance on Principle 11 and in rules, how the FSA expects firms to deal with the FSA in that context, including the steps that a firm should take with a view to ensuring that certain connected persons should also cooperate with the FSA.
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
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
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
Article 53 does not apply to advice given on any of the following:(1) deposit or other bank or building society accounts (but note that providing basic advice on a stakeholder product including stakeholder deposit accounts is a separate regulated activity under article 52A of the Regulated Activities Order - see the guidance in PERG 2.7.14A G (Providing basic advice on stakeholder products));(2) interests under the trusts of an occupational pension scheme (but rights under an
A firm must, by the end of eight weeks after its receipt of a complaint, (unless DISP 1.4.3A R1 or DISP 1.4.9 R applies) send the complainant either:(1) a final response; or(2) a response which:(a) explains that the firm is still not in a position to make a final response, gives reasons for the further delay and indicates when it expects to be able to provide a final response; and(b) informs the complainant that he may refer the complaint to the Financial Ombudsman Service if
Controlled activity and controlled investment are defined in Schedule 1 to the Financial Promotion Order and are listed in PERG 8.36.3 G and PERG 8.36.4 G. Broadly speaking, controlled activities and controlled investments are similar to regulated activities and specified investments under the Regulated Activities Order. However, with controlled activities, the exclusions set out in the Regulated Activities Order do not, in most cases, apply. It is important to note, however,
In the FSA's opinion, section 21 will apply to a communication (made in the course of business) if it contains an invitation or inducement to engage in investment activity which is addressed to a particular person or to persons generally. Where this is the case, it will not matter that the communication may be physically delivered to someone other than the person who is intended to engage in investment activity. PERG 8.6.10 G gives more guidance on this.
Subject to DISP 1.1.1A R, this5 chapter applies to every firm in respect of activities carried on from an establishment maintained by the firm (or its appointed representative) in the United Kingdom, except:5(1) (a) a firm that is exempt under DISP 1.1.7 R; (b) a UCITS qualifier;(c) an authorised professional firm in so far as its non-mainstream regulated activities are concerned; and(d) 1a credit union; or(2) in relation to the Society of Lloyd's, members of the Society and managing