Related provisions for DISP 1.2.4
81 - 100 of 185 items.
After submitting a notificationunder SUP 11.4.2 R orSUP 11.4.2AR (1) and R (2) and until the change in control occurs (or is no longer to take place), SUP 15.6.4 R and SUP 15.6.5 R apply to a UK domestic firm in relation to any information its controller or proposed controller provided to the FSA under SUP 11.5.1 R or SUP 11.3.7 D.1
Section 87B(1) of the Act sets out when the FSA may authorise the omission of information from a prospectus:
(1) |
The [FSA] may authorise the omission from a prospectus of any information, the inclusion of which would otherwise be required, on the ground – |
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(a) |
that its disclosure would be contrary to the public interest; |
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(b) |
that its disclosure would be seriously detrimental to the issuer, provided that the omission would be unlikely to mislead the public with regard to any facts or circumstances which are essential for an informed assessment of the kind mentioned in section 87A(2); or |
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(c) |
that the information is only of minor importance for a specific offer to the public or admission to trading on a regulated market and unlikely to influence an informed assessment of the kind mentioned in section 87A(2). |
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The purpose of this chapter is
to:(1) promote prompt and fair disclosure
of relevant information to the market; and [Note: Recital
24 Market Abuse Directive](2) set out specific circumstances
when an issuer can delay public
disclosure of inside information and
requirements to ensure that such information is kept confidential in order
to protect investors and prevent insider dealing. [Note: Recital
5 2003/124/EC]
It is likely that the information sent to members will include a statement explaining the reasons for the amalgamation or transfer and the choice of partner. Although this is not a statutory statement and not subject to FSA approval, the FSA will take the statement into account whenconsidering whether to confirm the amalgamation or transfer. A friendly society will therefore find it helpful to consult the FSA about the content of such a statement.
The FSA will send copies of all written representations to the society(ies), and will afford them an opportunity to comment on the representations. It may consider the written representations and a society's response to them, before the date set for hearing oral representations. A synopsis of the written representations (probably in the form of a summary of each of the points made and the numbers of persons making each point) and a society's responses will be made available to
In most cases a firm will provide the information required by this section as part of its compliance with the provisions of SUP. To the extent that the FSA does not obtain sufficient, or sufficiently detailed, information it may seek this by using its general information gathering powers (see SUP 2 (Information gathering by the FSA on its own initiative)).
In the case of a listed company incorporated in the United Kingdom, the following additional items must be included in its annual report and accounts:(1) a statement setting out all the beneficial and non-beneficialinterests of each director of the listed company that have been disclosed to the company under the Companies Act 1985 as at the end of the period under review including:(a) all changes in the beneficial and non-beneficialinterests of each director that have occurred
(1) If any quotations for insurance are included in the illustration in accordance with MCOB 9.4.73 R(3), MCOB 9.4.76 R(1) or MCOB 9.4.79 R, the illustration:(a) must include a brief description only of the type of insurance (full details of the insurance cover may however be provided separately); and(b) (i) must include the total price to be paid by the customer in a column on the right hand side of the illustration under the heading "[insert frequency of payments quoted] payments";
A firm must ensure that, in relation to a transaction falling within GENPRU 2.2.124 R:(1) the marketing document for the transaction contains all the information which a reasonable third party would require to understand the transaction fully and its effect on the financial position of the firm and its group; and(2) the information in (1) and the transaction are easily comprehensible without the need for additional information about the firm and its group.
A BIPRU firm which adopts the standardised approach to credit risk may include general/collective provisions in its tier two capital resources only if:(1) they are freely available to the firm;(2) their existence is disclosed in internal accounting records; and(3) their amount is determined by the management of the firm, verified by independent auditors and notified to the FSA.
The application for variation of Part IV permission will need to provide information about the classes of contract of insurance for which variation of Part IV permission is requested and also those classes qualifying to be carried on, on an ancillary or supplementary basis. For example, an insurer applying to vary its permission to include class 10 (motor vehicle liability, other than carrier's liability) must satisfy the FSA that it will meet, and continue to meet, threshold
Where not all of the mortgage interest rates described in accordance with MCOB 5.6.25 R(2)(a) apply for the term of the loan part to which they apply, the firm must disclose the amount that will be paid in each instalment when complying with MCOB 7.6.9 R(3)(b), including the following information:(1) when a change in payment will occur;(2) the reason for the change in payment; and(3) confirmation that the payment illustrated assumes rates will not change.
The byelaws referred to in INSPRU 8.4.3 R should:(1) ensure that adequate and effective arrangements are in place to enable members and persons applying to be admitted as members to enter into transactions to transfer syndicate capacity and settle these transactions in a timely manner;(2) give clear and comprehensive guidance about the dissemination of information that is, or may be, relevant to the price of syndicate capacity and the transparency of the capacity transfer market;
In assessing the ability of a UK recognised body to cooperate with the FSA and other appropriate bodies, the FSA may have regard to the extent to which the constitution and rules of the UK recognised body and its agreements with its members enable it to obtain information from members and to disclose otherwise confidential information to the FSA and other appropriate bodies.