Related provisions for PERG 5.4.5

SUP 13.12.2G21/06/2001

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

SUP 16.1.3R01/04/2005

Application of different sections of SUP 16

8 8 8 8 8 8 8 8 8 11 9 9 9 9 8 8 8 8 8

(1) Section(s)	(2) Categories of firm to which section applies			(3) Applicable rules and guidance
SUP 16.1,SUP 16.2andSUP 16.3	All categories of firm except:			Entire sections
	(a)	an ICVC;
	(b)	an incoming EEA firm or incoming Treaty firm, which is not:
		(i)	a firm of a type to which SUP 16.6 or SUP 16.7 applies; or
		(ii)	an insurer with permission to effect or carry outlife policies; or
		(iii)3	a firm with permission to establish, operate or wind up a stakeholder pension scheme;
	(c)	a UCITS qualifier.
SUP 16.4 and SUP 16.52	All categories of firm except:			Entire sections
	(-a)	a credit union;2
	(a)	an ICVC;
	(b)	an incoming EEA firm;
	(c)	an incoming Treaty firm;
	(d)	a non-directive friendly society;
	(e)4	[deleted]4
	(f)	a sole trader;
	(g)	a service company;
	(h)	a UCITS qualifier;8 8
	(i)8	a firm with permission to carry on only retail investment activities;8
	(j)8	a firm with permission to carry on only insurance mediation activity, mortgage mediation activity, or both;8
	(k)8	a firm falling within both (i) and (j)8
SUP 16.6	Bank, ELMI			SUP 16.6.4 R to SUP 16.6.5 R
	Depositary of an ICVC			SUP 16.6.6 R to SUP 16.6.9 G
	OPS firm			SUP 16.6.6 R to SUP 16.6.8 R
	Trustee of an AUT			SUP 16.6.6 R to SUP 16.6.9 G
SUP 16.7	Bank, other than an EEA bank with permission for cross border services only.1			SUP 16.7.7 R to SUP 16.7.15 R
	Building society			SUP 16.7.16 R to SUP 16.7.19 R
	Service company			SUP 16.7.20 R to SUP 16.7.21 R
	Securities and futures firm (other than an oil market participant to which IPRU(INV) 3 does not apply)			SUP 16.7.22 R to SUP 16.7.34 G
	Investment management firm			SUP 16.7.35 R to SUP 16.7.41 R
	Authorised professional firm (note)			SUP 16.7.54 Rand SUP 16.7.54A R12
	Society of Lloyd's			SUP 16.7.55 R to SUP 16.7.56 R and SUP 16.7.59 R (1) and SUP 16.7.59 R (2)
	Members' adviser			SUP 16.7.57 R to SUP 16.7.58 R, SUP 16.7.59 R (3), SUP 16.7.60 G and SUP 16.7.61 G
	Credit Union 2			SUP 16.7.62 R to SUP 16.7.63 R2
	ELMI			SUP 16.7.64 R to SUP 16.7.66 R
	UCITS management company 6			6SUP 16.7.67 R to SUP 16.7.72 R
	Member of a financial conglomerate 10			SUP 16.7.82 R to SUP 16.7.83 R10
	A firm not subject to other reporting requirements in SUP 16.7.1 G - SUP 16.7.75 R (nor to reporting requirements in IPRU(INS) or IPRU(FSOC)):8 11 12			SUP 16.7.76 R to SUP 16.7.81 G8 8 11
	(1)8	with permission to carry on one or more of:8
		(a)8	insurance mediation activity; or8
		(b)8	mortgage mediation activity; or8
		(c)8	mortgage lending; or8
		(d)8	mortgage administrating; or8
	(2)8	which is a personal investment firm 8 11
SUP 16.8	Insurer with permission to effect or carry out life policies, unless it is a non-directive friendly society 3			Entire section
	3 Firm with permission to establish, operate or wind up a stakeholder pension scheme			Entire section3
SUP 16.95	Firm with permission to advise on investments; arrange (bring about) deals in investments; make arrangements with a view to transactions in investments; or arrange safeguarding and administration of assets 5			Entire section5
SUP 16.109	All categories of firm except:9			Entire section9
	(a)9	an ICVC;9
	(b)9	a UCITS qualifier; and9
	(c)9	a credit union.9
SUP 16.118	A firm, other than a managing agent, which is:8			Entire section8
	(1)8	a mortgage lender; or8
	(2)8	an insurer; or8
	(3)8	the operator of a regulated collective investment scheme or an investment trust savings scheme; or8
	(4)8	a person who issues or manages the relevant assets of the issuer of a structured capital-at-risk product 8.

CASS 1.2.5R14/01/2005

1CASS 5 (Client money and mandates: insurance mediation activity) does not apply to an authorised professional firm with respect to its non-mainstream regulated activities, which are insurance mediation activities, if:(1) the firm's designated professional body has made rules which implement article 4 of the IMD;(2) those rules have been approved by the FSA under section 332(5) of the Act; and(3) the firm is subject to the rules in the form in which they were approved.

PERG 1.4.2G01/07/2005

Table: list of general guidance to be found in PERG.

Chapter:	Applicable to:	About:
PERG 2: Authorisation and regulated activities	an unauthorised person wishing to find out whether he needs to be authorised or exempt an authorised person wishing to know whether he needs to vary hisPart IV permission	the regulatory scope of the Act the Regulated Activities Order the Exemption Order the Business Order
PERG 3: Issuing e-money	a person who needs to know whether a particular electronic payment product ise-money and whether the person issuing it needs to beauthorised under the Act whether any communications about the product will be restricted	the scope of theregulated activity of issuing e-money the application of the restriction in section 21 of the Act (Restrictions on financial promotion) to communications about e-money
PERG 4: Regulated activities connected with mortgages	any person who needs to know whether the activities he conducts in relation to mortgages are subject to FSA regulation. This is likely to include: lenders administration service providers mortgage brokers and advisers	the scope of relevant orders (in particular, the Regulated Activities Order) as respects activities concerned with mortgages
PERG 5: Insurance mediation activities	any person who needs to know whether he carries on insurance mediation activities and is, thereby, subject to FSA regulation. This is likely to include: insurance brokers insurance advisers insurance undertakings other persons involved in the sale or administration of contracts of insurance, where these activities are secondary to their main business.	the scope of relevant orders (in particular, the Regulated Activities Order) as respects activities concerned with the sale or administration of insurance
PERG 6: Identification of contracts of insurance	any person who needs to know whether a contract with which he is involved is a contract of insurance	the general principles and range of specific factors that the FSA regards as relevant in deciding whether any arrangement is a contract of insurance
PERG 7: Periodical publications, news services and broadcasts: application for certification	any person who needs to know whether he will be regulated for providing advice about investments through the medium of a periodical publication, a broadcast or a news service	the circumstances in which such persons will be carrying on the regulated activities of advising on investments or advising on regulated mortgage contracts (including where a request for a certificate may be appropriate) how theFSA will exercise its power to grant certificates
PERG 8: Financial promotion and related activities	any person who needs to know whether his communications are financial promotions or are subject to the restriction in section 21 of the Act or both whether his activities in making or helping others to make financial promotions are regulated activities.	the scope of the restriction on financial promotion under section 21 of the Act and the main exemptions provided the circumstances in which persons who are primarily involved in making or helping others to make financial promotions may themselves be conducting regulated activities requiring authorisation or exemption
PERG 9: Meaning of open-ended investment company	any person who needs to know whether a body corporate is an open-ended investment company as defined in section 236 of the Act (Open-ended investment companies) and is therefore a collective investment scheme.	the circumstances in which a body corporate will be an open-ended investment company
PERG 10: Activities related to pension schemes	[to be added]

Chapter:

Applicable to:

About:

PERG 2:

Authorisation and regulated activities

an unauthorised person wishing to find out whether he needs to be authorised or exempt
an authorised person wishing to know whether he needs to vary hisPart IV permission

the regulatory scope of the Act
the Regulated Activities Order
the Exemption Order
the Business Order

PERG 3:

Issuing e-money

a person who needs to know

whether a particular electronic payment product ise-money and whether the person issuing it needs to beauthorised under the Act
whether any communications about the product will be restricted

the scope of theregulated activity of issuing e-money
the application of the restriction in section 21 of the Act (Restrictions on financial promotion) to communications about e-money

PERG 4:

Regulated activities connected with mortgages

any person who needs to know whether the activities he conducts in relation to mortgages are subject to FSA regulation. This is likely to include:

lenders
administration service providers
mortgage brokers and advisers

the scope of relevant orders (in particular, the Regulated Activities Order) as respects activities concerned with mortgages

PERG 5:

Insurance

mediation

activities

any person who needs to know whether he carries on insurance mediation activities and is, thereby, subject to FSA regulation. This is likely to include:

insurance brokers
insurance advisers
insurance undertakings
other persons involved in the sale or administration of contracts of insurance, where these activities are secondary to their main business.

the scope of relevant orders (in particular, the Regulated Activities Order) as respects activities concerned with the sale or administration of insurance

PERG 6:

Identification of contracts of insurance

any person who needs to know whether a contract with which he is involved is a contract of insurance

the general principles and range of specific factors that the FSA regards as relevant in deciding whether any arrangement is a contract of insurance

PERG 7:

Periodical publications, news services and broadcasts: application for certification

any person who needs to know whether he will be regulated for providing advice about investments through the medium of a periodical publication, a broadcast or a news service

the circumstances in which such persons will be carrying on the regulated activities of advising on investments or advising on regulated mortgage contracts (including where a request for a certificate may be appropriate)
how theFSA will exercise its power to grant certificates

PERG 8:

Financial promotion and related activities

any person who needs to know

whether his communications are financial promotions or are subject to the restriction in section 21 of the Act or both
whether his activities in making or helping others to make financial promotions are regulated activities.

the scope of the restriction on financial promotion under section 21 of the Act and the main exemptions provided
the circumstances in which persons who are primarily involved in making or helping others to make financial promotions may themselves be conducting regulated activities requiring authorisation or exemption

PERG 9:

Meaning of open-ended investment company

any person who needs to know whether a body corporate is an open-ended investment company as defined in section 236 of the Act (Open-ended investment companies) and is therefore a collective investment scheme.

the circumstances in which a body corporate will be an open-ended investment company

PERG 10:

Activities related to pension schemes

[to be added]

PERG 2.3.2G01/07/2005

There is power in the Act for the Treasury to change the meaning of the business element by including or excluding certain things. They have exercised this power (see the Financial Services and Markets Act 2000 (Carrying on Regulated Activities by Way of Business) Order 2001 (SI 2001/1177), the Financial Services and Markets Act 2000 (Regulated Activities) (Amendment) (No.2) Order 2003 (SI 2003/1476) and the Financial Services and Markets Act 2000 (Carrying on Regulated Activities

SUP 12.5.2G06/04/2005

(1) Regulations 3(1) to (3B) of the Appointed Representatives Regulations makes it a requirement that the contract between the firm and the appointed representative (unless it prohibits the appointed representative from representing other counterparties) contains a provision enabling the firm to:4(a) impose such a prohibition; or(b) impose restrictions as to the other counterparties which the appointed representative may represent, or as to the types of investment in relation

PERG 1.5.1G01/07/2005

General guidance on the perimeter is also contained in various FSA documents (mainly fact sheets and frequently asked questions) that are available on the FSA website at www.fsa.gov.uk.These documents, and the URL on which they may be accessed, include:(1) guidance about the position under the Insurance Mediation Directive and the Regulated Activities Order of group risk managers and co-participants in a joint enterprise - http://www.fsa.gov.uk/pages/doing/info/mgi/topics/risk.shtml;(2)

DISP 1.1.4R01/04/2002

(1) 1VJ participants are subject to DISP 1, except DISP 1.1.1 G, DISP 1.1.5 R and DISP 1.5(Record keeping and reporting), by contract under the standard terms as if they were firms (see DISP 4.2.2 R). DISP 1.2 applies to VJ participants only in relation to complaints about activities of the VJ participant specified in DISP 2.6.9 R. DISP 1.2 (Internal complaints handling procedures: general requirements) also applies to VJ participants elsewhere in the EEA under the extended jurisdiction

GEN 4.3.6R01/06/2005

(1) 1Where a firm has outsourced activities to a third party processor, GEN 4.3.1 R does not apply to that third party processor when acting as such, so long as the outsourcing firm ensures that the third party processor and its employees comply with that rule as if it was the firm and they were employees of the firm.(2) Where an appointed representative has outsourced insurance mediation activities in relation to non-investment insurance contracts or mortgage mediation activities

SUP 3.8.10G01/01/2005

Auditors are subject to regulations made by the Treasury under sections 342(5) and 343(5) of the Act (Information given by auditor or actuary to the FSA). These regulations oblige auditors to report certain matters to the FSA. Sections 342(3) and 343(3) of the Act provide that an auditor does not contravene any duty by giving information or expressing an opinion to the FSA, if he is acting in good faith and he reasonably believes that the information or opinion is relevant to

SUP App 2.15.9G30/06/2005

These tables belong to SUP App 2.15.8 G

Table 1 - forecast summary revenue account for the relevant with-profits fund
(1)	Premiums and claims (gross and net of reinsurance) analysed by major class of insurance business
(2)	Investment return
(3)	Expenses
(4)	Other charges and income
(5)	Taxation
(6)	Increase (decrease) in fund in financial year
(7)	Fund brought forward
(8)	Fund carried forward

Table 2 - forecast summary balance sheet and statement of solvency for the relevant with-profits fund
	Assets analysed by type (excluding implicit items):
(1)	Equities
(2)	Land and buildings
(3)	Fixed interest investments
(4)	All other assets
(5)	Total assets (excluding implicit items)
(6)	Policyholder liabilities
(7)	Other liabilities
(8)	Total liabilities
(9)	Excess/(deficiency) of assets over liabilities before implicit items
(10)	Implicit items allocated to the with-profits fund
(11)	Long-term insurance capital requirement for the with-profits fund
(12)	Resilience capital requirement for the with-profits fund
(13)	With-profits insurance capital component (for realistic basis life firms only)
(14)	Net excess/(deficiency) of assets in the with-profits fund

Table 3 - forecast summary balance sheet and statement of solvency for the firm
L1	Surplus long-term insurance assets, with-profit fund(s)
L2	Surplus long-term insurance assets, non-profit fund(s)
L3	Total long-term insurance assets	L1+L2
L4	Total long-term insurance liabilities (excluding resilience capital requirement)
L5	Total long-term insurance fund surplus	L3-L4
L6	Shareholder fund assets
L7	Implicit items
L8	Long-term insurance capital requirement
L9	Excess of regulatory assets over long-term insurance capital requirement	L5+L6+L7-L8
L10	With-profits insurance capital component	For realistic basis life firms only.
L11	Resilience capital requirement
L12	Net excess assets	L9-L10-L11
L13	FTSE level at which the long-term insurance capital requirement would be breached

SUP 3.1.2R01/01/2005

Applicable sections (see SUP 3.1.1 R)

(1) Category of firm		(2) Sections applicable to the firm	(3) Sections applicable to its auditor
(1)	Authorised professional firm which is required by IPRU(INV) 2.1.2R to comply with chapters 3, 5,10 or 13 of IPRU(INV) (Note 1)	SUP 3.1 - SUP 3.7	SUP 3.1, SUP 3.2, SUP 3.8 - SUP 3.10
(2)	Authorised professional firm not within (1) to which either or both of CASS 2 (Client assets) and CASS 4 (Client money and mandates: designated investment business) applies , unless the firm is regulated by The Law Society (England and Wales), The Law Society of Scotland or The Law Society of Northern Ireland (Note 2)	SUP 3.1 - SUP 3.7	SUP 3.1, SUP 3.2, SUP 3.8, SUP 3.10
(3)	Authorised professional firm not within (1) or (2) which has an auditor appointed under or as a result of a statutory provision other than in the Act	SUP 3.1, SUP 3.2, SUP 3.7	SUP 3.1, SUP 3.2, SUP 3.8
(4)	Bank or building society which in either case carries on designated investment business (Note 2A)	SUP 3.1-SUP 3.7	SUP 3.1, SUP 3.2, SUP 3.8, SUP 3.10
(5)	Bank or building society which in either case does not carry on designated investment business (Note 2A)	SUP 3.1 - SUP 3.7	SUP 3.1, SUP 3.2, SUP 3.8
(5A)	Credit union	SUP 3.1 - SUP 3.7	SUP 3.1, SUP 3.2, SUP 3.8
(5B)	ELMI	SUP 3.1 - SUP 3.7	SUP 3.1, SUP 3.2, SUP 3.8
(6)	Insurer, the Society of Lloyd's, underwriting agent or members' adviser (Note 5)7	SUP 3.1 - SUP 3.7	SUP 3.1, SUP 3.2, SUP 3.8
(7)	Investment management firm, personal investment firm (other than a small personal investment firm), UCITS management company, or securities and futures firm (Note 3)	SUP 3.1 - SUP 3.7	SUP 3.1, SUP 3.2, SUP 3.8 - SUP 3.10
(8)	Small personal investment firm or service company which, in either case, has an auditor appointed under or as a result of a statutory provision other than in the Act	SUP 3.1, SUP 3.2, SUP 3.7	SUP 3.1, SUP 3.2, SUP 3.8
(9)8	Mortgage lender 8	SUP 3.1 - SUP 3.78	SUP 3.1, SUP 3.2, SUP 3.88
(10)8	Insurance intermediary (other than an exempt insurance intermediary) to which CASS 5 (Client money and mandates) (except for CASS 5.2 (Holding money as agent)) applies (see Note 4)8	SUP 3.1 - SUP 3.78	SUP 3.1, SUP 3.2, SUP 3.8, SUP 3.108
(11)8	Exempt insurance intermediary and insurance intermediary not subject to SUP 3.1.2 R(10) which has an auditor appointed under or as a result of a statutory provision other than in the Act	SUP 3.1, SUP 3.2, SUP 3.78	SUP 3.1, SUP 3.2, SUP 3.88
(12)8	Mortgage intermediary or mortgage administrator which has an auditor appointed under or as a result of a statutory provision other than in the Act.	SUP 3.1, SUP 3.2, SUP 3.78	SUP 3.1, SUP 3.2, SUP 3.88
Note 1 = This chapter applies to an authorised professional firm in row (1) (and its auditor) as if the firm were of the relevant type in the right-hand column of IPRU(INV) 2.1.4R.
Note 2 = In row (2): (a) CASS 2 (Client assets) is treated as applying only if (i) the firm safeguarding and administering investments in connection with managing investments (other than when acting as trustee) or (ii) it safeguarding and administering investments in relation to bonded investments; (b) CASS 4 (Client money and mandates: designated investment business) is treated as applying only if the firm receives or holds client money other than under an arrangement where commission is rebated to the client; but, if CASS 2 or CASS 4 is treated as applying, then SUP 3.10 (Duties of auditors: notification and report on client assets) applies to the whole of the business within the scope of CASS 2 or CASS 4.
Note 2A = For this purpose, designated investment business does not include either or both: (a) dealing which falls within the exclusion in article 15 of the Regulated Activities Order (Absence of holding out etc) (or agreeing to do so); and (b) dealing in investments as principal (or agreeing to do so): (i) by a firm whose permission to deal in investments as principal is subject to a limitation to the effect that the firm, in carrying on this regulated activity, is limited to entering into transactions in a manner which, if the firm was an unauthorised person, would come within article 16 of the Regulated Activities Order (Dealing in contractually based investments); and (ii) in a manner which comes within that limitation; having regard to article 4(4) of the Regulated Activities Order (Specified activities: general: core investment services by investment firms).
Note 3 = This note applies in relation to an oil market participant to which IPRU(INV) 3 does not apply and in relation to an energy market participant to which IPRU(INV) 3 does not apply. In SUP 3: (a) only SUP 3.1, SUP 3.2 and SUP 3.7 are applicable to such a firm; and (b) only SUP 3.1, SUP 3.2 and SUP 3.8 are applicable to its auditor; and, in each case, only if it has an auditor appointed under or as a result of a statutory provision other than in the Act.
Note 4 = The client money audit requirement in SUP 3.1.2 R(10) therefore applies to all insurance intermediaries except:8 • those which do not hold client money or other client assets in relation to insurance mediation activities; or 8 • those which only hold up to, but not exceeding, £30,000 of client money under a statutory trust arising under CASS 5.3.8 Insurance intermediaries which, in relation to insurance mediation activities, hold no more than that amount of client money only on a statutory trust are exempt insurance intermediaries.8
Note (5) = In row (6):7
(a)7	SUP 3.1 - SUP 3.7 applies to a managing agent in respect of its own business and in respect of the insurance business of each syndicate which it manages; and7
(b)7	SUP 3.1, SUP 3.2 and SUP 3.8 apply to the auditors of a managing agent and the auditors of the insurance business of each syndicate which the managing agent manages.1 2 3 4 5 6 7

Related provisions for PERG 5.4.5

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Application of different sections of SUP 16