Related provisions for CASS 5.5.52

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CASS 5.5.37GRP
The FSA generally requires a firm to place client money in a client bank account with an approved bank. However, a firm which is an approved bank must not (subject to CASS 5.1.1 R (2)(e)) hold client money in an account with itself.
CASS 5.5.38RRP
(1) A firm must ensure that client money is held in a client bank account at one or more approved banks.(2) If the firm is a bank, it must not hold client money in an account with itself.
CASS 5.5.41RRP
A firm may hold client money with a bank that is not an approved bank if all the following conditions are met:(1) the client money relates to one or more insurance transactions which are subject to the law or market practice of a jurisdiction outside the United Kingdom;(2) because of the applicable law or market practice of that overseas jurisdiction, it is not possible to hold the client money in a client bank account with an approved bank;(3) the firm holds the money with such
CASS 5.5.42GRP
A firm owes a duty of care to a client when it decides where to place client money. The review required by CASS 5.5.43 R is intended to ensure that the risks inherent in placing client money with a bank are minimised or appropriately diversified by requiring a firm to consider carefully the bank or banks with which it chooses to place client money. For example, a firm which is likely only to hold relatively modest amounts of client money will be likely to be able to satisfy this
CASS 5.5.43RRP
Before a firm opens a client bank account and as often as is appropriate on a continuing basis (and no less than once in each financial year), it must take reasonable steps to establish that the bank is appropriate for that purpose.
CASS 5.5.44GRP
A firm should consider diversifying placements of client money with more than one bank where the amounts are, for example, of sufficient size to warrant such diversification.
CASS 5.5.45GRP
When considering where to place client money and to determine the frequency of the appropriateness test under CASS 5.5.43 R, a firm should consider taking into account, together with any other relevant matters:(1) the capital of the bank;(2) the amount of client money placed, as a proportion of the bank's capital and deposits;(3) the credit rating of the bank (if available); and(4) to the extent that the information is available, the level of risk in the investment and loan activities
CASS 5.5.46GRP
A firm will be expected to perform due diligence when opening a client bank account with a bank that is authorised by an EEA regulator. Any continuing assessment of that bank may be restricted to verification that it remains authorised by an EEA regulator.
CASS 5.5.47RRP
Subject to CASS 5.5.41 R, a firm that holds or intends to hold client money with a bank which is in the same group as the firm must:(1) undertake a continuous review in relation to that bank which is at least as rigorous as the review of any bank which is not in the same group, in order to ensure that the decision to use a group bank is appropriate for the client;(2) disclose in writing to its client at the outset of the client relationship (whether by way of a client agreement,
CASS 5.5.48RRP
If a client has notified a firm in writing that he does not wish his money to be held with a bank in the same group as the firm, the firm must either:(1) place that client money in a client bank account with another bank in accordance with CASS 5.5.38 R; or(2) return that client money to, or pay it to the order of, the client.
CASS 5.5.49RRP
When a firm opens a client bank account, the firm must give or have given written notice to the bank requesting the bank to acknowledge to it in writing:(1) that all money standing to the credit of the account is held by the firm as trustee (or if relevant in Scotland, as agent) and that the bank is not entitled to combine the account with any other account or to exercise any right of set-off or counterclaim against money in that account in respect of any sum owed to it on any
CASS 5.5.50RRP
In the case of a client bank account in the United Kingdom, if the bank does not provide the acknowledgement referred to in CASS 5.5.49 R within 20 business days after the firm dispatched the notice, the firm must withdraw all money standing to the credit of the account and deposit it in a client bank account with another bank as soon as possible.
CASS 5.5.53RRP
A firm must not hold, for a retail customer, client money in a client bank account outside the United Kingdom, unless the firm has previously disclosed to the retail customer (whether in its terms of business, client agreement or otherwise in writing):(1) that his money may be deposited in a client bank account outside the United Kingdom but that the client may notify the firm that he does not wish his money to be held in a particular jurisdiction;(2) that in such circumstances,
CASS 5.5.55GRP
Firms are reminded of the provisions of CASS 5.5.41 R (4), which sets out the notification and consents required when using a bank that is not an approved bank.
CASS 5.5.57GRP
Firms are reminded of the provisions of CASS 5.5.41 R (4), which sets out the notification and consents required when using a bank that is not an approved bank.
CASS 5.5.61RRP
On the failure of a third party with which client money is held, a firm must notify the FSA:(1) as soon as it becomes aware, of the failure of any bank, other broker or settlement agent or other entity with which it has placed, or to which it has passed, client money; and(2) as soon as reasonably practical, whether it intends to make good any shortfall that has arisen or may arise and of the amounts involved.
CASS 5.5.63RRP
(1) A firm must, as often as is necessary to ensure the accuracy of its records and at least at intervals of not more than 25 business days:2(a) check whether its client money resource, as determined by CASS 5.5.65 R on the previous business day, was at least equal to the client money requirement, as determined by CASS 5.5.66 R or CASS 5.5.68 R, as at the close of business on that day; and2(b) ensure that:2(i) any shortfall is paid into a client bank account by the close of business
CASS 5.5.65RRP
The client money resource, for the purposes of CASS 5.5.63 R (1)(a),2 is:(1) the aggregate of the balances on the firm's client money bank accounts, as at the close of business on the previous business day and, if held in accordance with CASS 5.4, designated investments (valued on a prudent and consistent basis) together with client money held by a third party in accordance with CASS 5.5.34 R; and(2) (but only if the firm is comparing the client money resource with its client's
CASS 5.5.82RRP
When a firm draws a cheque or other payable order to discharge its fiduciary duty under CASS 5.5.80 R, it must continue to treat the sum concerned as client money until the cheque or order is presented and paid by the bank.
CASS 5.6.15RRP
CASS 5.6.20 R to CASS 5.6.31 R do not apply if, on the failure of the third party, the firm repays to its clients or pays into a client bank account, at an unaffected bank, an amount equal to the amount of client money which would have been held if a shortfall had not occurred at that third party.
CASS 5.6.17GRP
To comply with its duties, the firm should show proper care:(1) in the selection of a third party; and(2) when monitoring the performance of the third party.In the case of client money transferred to a bank, by demonstrating compliance with CASS 5.5.43 R, a firm should be able to demonstrate that it has taken reasonable steps to comply with its duties.
CASS 5.6.18GRP
When a bank fails and the firm decides not to make good the shortfall in the amount of client money held at that bank, a secondary pooling event will occur in accordance with CASS 5.6.20 R. The firm would be expected to reflect the shortfall that arises at the firm's bank in the periodic client money calculation by reducing the client money resource and client money requirement accordingly.
CASS 5.6.19GRP
The client money (insurance) distribution rules seek to ensure that clients who have previously specified that they are not willing to accept the risk of the bank that has fails, and who therefore requested that their client money be placed in a designated client bank account as a different bank, should not suffer the loss of the bank that has failed.
CASS 5.6.20RRP
If a secondary pooling event occurs as a result of the failure of a bank where one or more general client bank accounts are held, then:(1) in relation to every general client bank account of the firm, the provisions of CASS 5.6.22 R and CASS 5.6.26 R to CASS 5.6.28 G will apply;(2) in relation to every designated client bank account held by the firm with the failed bank, the provisions of CASS 5.6.24 R and CASS 5.6.26 R to CASS 5.6.28 G will apply; and(3) any money held at a
CASS 5.6.21RRP
If a secondary pooling event occurs as a result of the failure of a bank where one or more designated client bank accounts are held then in relation to every designated client bank account held by the firm with the failed bank, the provisions of CASS 5.6.24 R and CASS 5.6.26 R to CASS 5.6.28 G will apply.
CASS 5.6.22RRP
Money held in each general client bank account of the firm must be treated as pooled and:(1) any shortfall in client money held, or which should have been held, in general client bank accounts, that has arisen as a result of the failure of the bank, must be borne by all the clients whose client money is held in a general client bank account of the firm, rateably in accordance with their entitlements;(2) a new client money entitlement must be calculated for each client by the firm,
CASS 5.6.23GRP
The term 'which should have been held' is a reference to the failed bank's failure (and elsewhere, as appropriate, is a reference to the other failed third party's failure) to hold the client money at the time of the pooling event.
CASS 5.6.24RRP
For each client with a designated client bank account held at the failed bank:(1) any shortfall in client money held, or which should have been held, in designated client bank accounts that has arisen as a result of the failure, must be borne by all the clients whose client money is held in a designated client bank account of the firm at the failed bank, rateably in accordance with their entitlements;(2) a new client money entitlement must be calculated for each of the relevant
CASS 5.6.25RRP
A client whose money was held, or which should have been held, in a designated client bank account with a bank that has failed is not entitled to claim in respect of that money against any other client bank account or client transaction account of the firm.
CASS 5.6.26RRP
Client money received by the firm after the failure of a bank, that would otherwise have been paid into a client bank account at that bank:(1) must not be transferred to the failed bank unless specifically instructed by the client in order to settle an obligation of that client to the failed bank; and(2) must be, subject to (1), placed in a separate client bank account that has been opened after the secondary pooling event and either:(a) on the written instruction of the client, transferred
CASS 5.6.27RRP
If a firm receives a mixed remittance after the secondary pooling event which consists of client money that would have been paid into a general client bank account, a designated client bank account or a designated client fund account maintained at the bank that has failed, it must:(1) pay the full sum into a client bank account other than one operated at the bank that has failed; and(2) pay the money that is not client money out of that client bank account within one business day
COLL 5.2.11RRP
(1) This rule does not apply to government and public securities.(2) For the purposes of this rule companies included in the same group for the purposes of consolidated accounts as defined in accordance with the Seventh Council Directive 83/349/EEC of 13 June 1983 based on Article 54(3)(g) of the Treaty on consolidated accounts or, in the same group in accordance with international accounting standards, are regarded as a single body.(3) Not more than 20% in value of the scheme
COLL 5.2.20RRP
(1) A transaction in a derivative must:(a) be in an approved derivative; or(b) be one which complies with COLL 5.2.23 R (OTC transactions in derivatives).(2) The underlying of a transaction in a derivative must consist of any one or more of the following to which the scheme is dedicated:(a) transferable securities;(b) money-market instruments permitted under COLL 5.2.18 R (Investment in money-market instruments);(c) deposits permitted under COLL 5.2.26 R (Investment in deposits);(d)
COLL 5.2.23RRP
A transaction in an OTC derivative under COLL 5.2.20 R (1) (b) must be:(1) with an approved counterparty; a counterparty to a transaction in derivatives is approved only if the counterparty is:(a) an eligible institution or an approved bank; or(b) a person whose permission (including any requirements or limitations), as published in the FSA Register, or whose Home State authorisation, permits it to enter into the transaction as principal off-exchange;(2) on approved terms; the
COLL 5.2.26RRP
A UCITS scheme may invest in deposits only if it:(1) is with an approved bank;(2) is:(a) repayable on demand; or(b) has the right to be withdrawn; and(3) matures in no more than 12 months.
SUP 6.2.8GRP
Discussions with the FSA are particularly relevant where the firm has to discharge obligations to its customers or policyholders before it can cease carrying on a regulated activity. This may be the case, for example, where the firm is an insurer, a bank or, as is often the case, holding client money or customer assets.
SUP 6.2.9GRP
If an insureror a bank wishes to cease carrying on all regulated activities for which it has Part IV permission, it will usually be necessary to wind down the business over a long term period which is normally more than six months. This may also be the case for a firm holding client money or customer assets. In these circumstances, it will usually be appropriate for the firm to apply for variation of its Part IV permission before commencing the wind-down. A firm should only make
SUP 6.2.11GRP
(1) Specific guidance on the additional procedures for a firm winding down (running off) its business in the circumstances discussed in SUP 6.2.8 G is in SUP 6 Annex 4.(2) The guidance in SUP 6 Annex 4 applies to any firm that is applying for variation of Part IV permission before it applies for cancellation of Part IV permission to enable it to wind down (run off) its business over a long term period of six months of more. It will apply to most insurers and banks and, in some
SUP 16.6.2GRP

Applicable provisions of this section (see SUP 16.6.1 G)

Category of firm

Applicable provisions

Bank, ELMI

SUP 16.6.4 R - SUP 16.6.5 R

Trustee of an AUT

Depositary of an ICVC

SUP 16.6.6 R - SUP 16.6.9 G

OPS firm

SUP 16.6.6 R - SUP 16.6.8 R
SUP 16.6.4RRP
A bank and an ELMI must submit compliance reports to the FSA in accordance with SUP 16.6.5 R.
CASS 5.1.1RRP
(1) CASS 5.1 to CASS 5.6 apply, subject to (2), (3) and CASS 5.1.3 R to CASS 5.1.6 R, to a firm that receives or holds money in the course of or in connection with its insurance mediation activity.(2) CASS 5.1 to CASS 5.6 do not, subject to (3), apply:(a) to a firm to the extent that it acts in accordance with the CASS 4; or(b) to a firm in carrying on an insurance mediation activity which is in respect of a reinsurance contract; or(c) to an insurance undertaking in respect of
CASS 5.1.2GRP
A firm that is an approved bank, and relies on the exemption under CASS 5.1.1 R (2)(e), should be able to account to all of its clients for amounts held on their behalf at all times. A bank account opened with the firm that is in the name of the client would generally be sufficient. When money from clients deposited with the firm is held in a pooled account, this account should be clearly identified as an account for clients. The firm should also be able to demonstrate that an
SYSC 4.2.1RRP
(1) Under PIDA, any clause or term in an agreement between a worker and his employer is void in so far as it purports to preclude the worker from making a protected disclosure (that is, "blow the whistle").(2) In accordance with section 1 of PIDA:(a) a protected disclosure is a qualifying disclosure which meets the relevant requirements set out in that section;(b) a qualifying disclosure is a disclosure, made in good faith, of information which, in the reasonable belief of the
SYSC 4.2.2RRP
(1) Firms are encouraged to consider adopting (and encouraged to invite their appointed representatives to consider adopting) appropriate internal procedures which will encourage workers with concerns to blow the whistle internally about matters which are relevant to the functions of the FSA.(2) Smaller firms may choose not to have as extensive procedures in place as larger firms. For example, smaller firms may not need written procedures. The following is a list of things that
SUP 14.1.4GRP
This chapter gives guidance on the Act and the EEA Passport Rights Regulations made under the Act, for an incoming EEA firm which has established a branch in, or is providing cross border services into, the United Kingdom and wishes to change the details of the branch or cross border services. These are known as requisite details, or for firms passporting under the Insurance Directives relevant details.
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 16.3.26GRP
Examples of reports covering a group are:(1) the compliance reports required from banks under SUP 16.6.4 R;(2) annual controllers reports required under SUP 16.5.4 R;(3) annual close links reports required under SUP 16.5.4 R(4) consolidated financial reports required from banks under SUP 16.7.7 R;(5) consolidated reporting statements required from securities and futures firms under SUP 16.7.24 R.
COLL 5.5.4RRP
(1) The ICVC or trustee (on the instructions of the manager) may, in accordance with this rule and COLL 5.5.5 R (Borrowing limits), borrow money for the use of the authorised fund on terms that the borrowing is to be repayable out of the scheme property.(2) Paragraph (1) is subject to the obligation of the authorised fund to comply with any restriction in the instrument constituting the scheme.(3) The ICVC or trustee may borrow under (1) only from an eligible institution or an
SUP 15.3.8GRP
Compliance with Principle 11 includes, but is not limited to, giving the FSA notice of:(1) any proposed restructuring, reorganisation or business expansion which could have a significant impact on the firm's risk profile or resources, including, but not limited to:(a) setting up a new undertaking within a firm'sgroup, or a new branch (whether in the United Kingdom or overseas); or (b) commencing the provision of cross border services into a new territory; or(c) commencing the
DISP 2.7.6RRP
A complaint can be dealt with under the Financial Ombudsman Service irrespective of whether the complainant lives or is based in the United Kingdom.
COLL 6.6.17RRP
(1) The authorised fund manager, any other director of an ICVC and the depositary must take reasonable care to ensure that a transaction within (a) to (f) is not carried out on behalf of the scheme:(a) putting cash on deposit with an affected person unless that person is an eligible institution or an approved bank and the arm's length requirement in (2) is satisfied;(b) lending money by an affected person to, or for the account of, the scheme, unless the affected person is an
SUP 16.1.3RRP

Application of different sections of SUP 16

88888888811999988888

(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 Union2

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 company6

6SUP 16.7.67 R to SUP 16.7.72 R

Member of a financial conglomerate10

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)):81112

SUP 16.7.76 R to SUP 16.7.81 G8811

(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 firm811

SUP 16.8

Insurer with permission to effect or carry out life policies, unless it is a non-directive friendly society3

Entire section

3Firm 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 assets5

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 product8.