Related provisions for MCOB 4.1.1

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MCOB 6.1.1RRP
This chapter applies to a firm in a category listed in column (1) of the table in MCOB 6.1.2 R in accordance with column (2) of that table.
MCOB 6.1.2RRP

This table belongs to MCOB 6.1.1R

(1) Category of firm

(2) Applicable section

mortgage lender

whole chapter
MCOB 2.1.1RRP
This chapter applies to a firm in a category listed in column (1) of the table in MCOB 2.1.2 R in accordance with column (2) of that table.
MCOB 2.1.2RRP

This table belongs to MCOB 2.1.1 R

(1) Category of firm

(2) Applicable section

mortgage lender

mortgage administrator

mortgage adviser

mortgage arranger
MCOB 5.1.1RRP
This chapter applies to a firm in a category listed in column (1) of the table in MCOB 5.1.2 R in accordance with column (2) of that table.
MCOB 5.1.2RRP

This table belongs to MCOB 5.1.1 R

(1) Category of firm

(2) Applicable section

mortgage lender

mortgage adviser

mortgage arranger

whole chapter
MCOB 7.1.1RRP
This chapter applies to a firm in a category listed in column (1) of the table in MCOB 7.1.2 R in accordance with column (2) of that table.
MCOB 7.1.2RRP

This table belongs to MCOB 7.1.1R

(1) Category of firm

(2) Applicable section

mortgage lender

whole chapter

mortgage administrator

MCOB 7.1 - MCOB 7.3.3 R and MCOB 7.5 - MCOB 7.7.

mortgage adviser and mortgage arranger

MCOB 7.1 - MCOB 7.3.3 R and MCOB 7.6.7 R - MCOB 7.7.4 R
MCOB 8.1.1RRP
This chapter applies to a firm in a category listed in column (1) of the table in MCOB 8.1.2 R in accordance with column (2) of that table.
MCOB 8.1.2RRP

This table belongs to MCOB 8.1.1 R

(1) Category of firm

(2) Applicable section

mortgage lender

whole chapter except MCOB 8.5

mortgage adviser

whole chapter

mortgage arranger

whole chapter except MCOB 8.5.
MCOB 4.1.2RRP

This table belongs to MCOB 4.1.1 R

(1) Category of firm

(2) Applicable section

mortgage lender

whole chapter except MCOB 4.5- MCOB 4.732

3

mortgage adviser

whole chapter

mortgage arranger

whole chapter except MCOB 4.7
SUP 3.1.1RRP
This chapter applies to:(1) every firm within a category listed in column (1) of the table in SUP 3.1.2 R; and(2) the external auditor of such a firm (if appointed under SUP 3.3 or appointed under or as a result of a statutory provision other than in the Act);in accordance with column (2) or (3) of that table, except as described in the remainder of this section.2
SUP 3.1.2RRP

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) and which has an auditor appointed under or as a result of a statutory provision other than in the Act9 (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), or securities and futures firm (Note 3) which, in each case, has an auditor appointed under or as a result of a statutory provision other than in the Act9

9

SUP 3.1 - SUP 3.7

SUP 3.1, SUP 3.2, SUP 3.8 - SUP 3.10

9(7A)

Investment management firm, personal investment firm (other than a small personal investment firm), or securities and futures firm not within (7) to which either or both of CASS 2 (Client assets) and CASS 4 (Client money and mandates: designated investment business) applies

SUP 3.1 - SUP 3.7

SUP 3.1, SUP 3.2, SUP 3.8, SUP 3.10

9(7B)

UCITS management company

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 lender8 which has an auditor appointed under or as a result of a statutory provision other than in the Act9

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.1234567
SUP 6.4.16GRP

Types of reports. See SUP 6.4.15 G

Category of firm

Type of report

a bank or building society

• an audited balance sheet which confirms that, in the auditor's opinion, the firm has no remaining deposit liabilities to customers;

• a report from auditors or reporting accountants;

a securities and futures firm

• a report from auditors or reporting accountants

an insurer

• an audited closing balance sheet which demonstrates that the firm has no insurance liabilities to policyholders;

• a report from the auditors or reporting accountants; and

• in some cases, an actuarial opinion as to the likelihood of any remaining liabilities to policyholders.