Related provisions for LR 10.2.6

FIT 1.2.4G01/09/2003

The Act does not prescribe the matters which the FSA should take into account when determining fitness and propriety. However, section 61(2) states that the FSA may have regard (among other things) to whether the candidate or approved person is competent to carry out a controlled function.

SUP 12.1.3G21/06/2001

The chapter also sets out the FSA'srules, and guidance on these rules, that apply to a firm before it appoints, when it appoints and when it has appointed an appointed representative. The main purpose of these rules is to place responsibility on a firm for seeking to ensure that: (1) its appointed representatives are fit and proper to deal with clients in its name; and (2) clients dealing with its appointed representatives are afforded the same level of protection as if they had

FEES 5.1.1R01/01/2006

116This chapter applies to:(1) every firm which is subject to the Compulsory Jurisdiction of the Financial Ombudsman Service; and(2) every other person who is subject to the Compulsory Jurisdiction in relation to relevant complaints.

FEES 5.1.2G01/01/2006

The relevant provisions of FEES 5 are applied to VJ participants by the standard terms (see DISP 4).

REC 3.2.2R21/06/2001

Unless otherwise stated in the notification rule, a written notification required from a recognised body under any notification rule must be:(1) given to, or addressed for the attention of, the recognised body's usual supervisory contact at the FSA;(2) delivered to the FSA by one of the methods in REC 3.2.3 R.

REC 3.2.5R21/06/2001

If a notification rule requires notification within a specified period:(1) the recognised body must give the notification so as to be received by the FSA no later than the end of that period; and (2) if the end of that period falls on a day which is not a business day, the notification must be given so as to be received by the FSA no later than the first business day after the end of that period.

SUP 15.2.3G21/06/2001

Rules and guidance have also been included to set out how firms should make a notification and to determine when it may be appropriate to discuss matters with their usual supervisory contact by telephone (SUP 15.7).

SUP 5.3.6G21/06/2001

The FSA will have regard to legal and procedural considerations including:(1) statutory powers: whether one of the other available statutory powers is more appropriate for the purpose than the power in section 166 of the Act (Reports by skilled persons);(2) subsequent proceedings: whether it is desirable to obtain an authoritative and independent report for use in any subsequent proceedings; and(3) application of the Handbookrules: whether it is important that the relevant rules

REC 3.1.3G21/06/2001

The notification rules in this chapter are in addition to the requirements on UK recognised bodies to give notice or information to the FSA under sub-sections 293(5), (6) and (7) of the Act.

REC 3.1.4G21/06/2001

The notification rules in this chapter are made by the FSA in order to ensure that it is provided with notice of events and information which it reasonably requires for the exercise of its functions under the Act.

SUP 8.1.1AG01/03/2003

This chapter is relevant to an applicant for a Part IV permission, as if that applicant were a firm. Where the chapter refers to usualsupervisory contact, the applicant should read this as being the usual contact inCorporate Authorisation.1

DTR 4.4.8R20/01/2007

An issuer whose registered office is in a non-EEA State whose relevant laws are considered equivalent by the FSA is exempted from the rules on annual financial reports (DTR 4.1), half-yearly financial reports (DTR 4.2) and interim management statements (DTR 4.3).

SYSC 12.1.1R01/01/2007

1Subject to SYSC 12.1.2 R to SYSC 12.1.4 R, this section applies to each of the following which is a member of a group:(1) a firm that falls into any one or more of the following categories:(a) a regulated entity;(b) an ELMI;(c) an insurer;(d) a BIPRU firm;(e) a non-BIPRU firm that is a parent financial holding company in a Member State and is a member of a UK consolidation group; and(f) a firm subject to the rules in IPRU(INV) Chapter 14.(2) a UCITS firm, but only if

SYSC 12.1.21G01/01/2007

SYSC 12.1.8R (1) deals with the systems and controls that a firm should have in respect of the exposure it has to the rest of the group. On the other hand, the purpose of SYSC 12.1.8R (2) and the rules in this section that amplify it is to require groups to have adequate systems and controls. However a group is not a single legal entity on which obligations can be imposed. Therefore the obligations have to be placed on individual firms. The purpose of imposing the obligations

GENPRU 2.2.220R31/12/2006

For the purpose of GENPRU 2.2.219 R, a relevant rule means a rule in GENPRU, BIPRU or INSPRU or any other capital adequacy or solvency requirements of the FSA or any other regulator, territory or country.

GEN 1.3.1G01/05/2003

The FSA recognises that there may be occasions when, because of a particular emergency, a person (generally a firm, but in certain circumstances, for example in relation to price stabilising rules or small e-money issuerrules, an unauthorised person) may be unable to comply with a particular rule in the Handbook. The purpose of GEN 1.3.2 R is to provide appropriate relief from the consequences of contravention of such a rule in those circumstances.1

GEN 1.3.2R01/05/2003

(1) If any emergency arises which:(a) makes it impracticable for a person to comply with a particular rule in the Handbook; (b) could not have been avoided by the person taking all reasonable steps; and(c) is outside the control of the person, its associates and agents (and of its and their employees);the person will not be in contravention of that rule to the extent that, in consequence of the emergency, compliance with that rule is impracticable. (2) Paragraph (1) applies only

GEN 1.3.5G21/06/2001

GEN 1.3.2 R operates on the FSA's rules. It does not affect the FSA's powers to take action against a firm in an emergency, based on contravention of other requirements and standards under the regulatory system. For example, the FSA may exercise its own-initiative power in appropriate cases to vary a firm's Part IV permission based on a failure or potential failure to satisfy the threshold conditions (see SUP 7 (Applying the FSA's requirements to individual firms) and ENF 4

COLL 7.3.1G01/04/2004

(1) The winding up of an ICVC may be carried out under this section instead of by the court provided the ICVC is solvent and the steps required under regulation 21 the OEIC Regulations (The Authority's approval for certain changes in respect of a company) are fulfilled. This section lays down the procedures to be followed and the obligations of the ACD and any other directors of the ICVC. (2) The termination of a sub-fund under this section will be subject to the conditions set

COLL 7.3.3G01/04/2004

This table belongs to COLL 7.3.3 G

Summary of the main steps in winding up a solvent ICVC or terminating a sub-fund under FSA rules, assuming FSA approval. Notes: N = Notice to be given to the FSA under regulation 21 of OEIC Regulations E = commencement of winding up or termination W/U = winding up FAP = final accounting period (COLL 7.3.8 R(4))
Step number	Explanation	When	COLL rule (unless stated otherwise)
1	Commence preparation of solvency statement	N-28 days	7.3.5 (2)
2	Send audited solvency statement to the FSA with copy to depositary	By N + 21 days	7.3.5 (4) and (5)
3	Receive the FSA approval	N + one month	Regulation 21 of OEIC Regulations
4	Normal business ceases; publish notices	E	7.3.6
5	Realise proceeds, wind up, instruct depositary accordingly	ASAP after E	7.3.7
6	Prepare final account or termination account & have account audited	On completion of W/U or termination	7.3.8
7	Send final account or termination account and auditor's report to the FSA & unitholders	Within 2 months of FAP	7.3.8(6)
8	Request FSA to revoke relevant authorisation order	On completion of W/U	7.3.7(9)

COLL 7.3.13R01/04/2004

(1) If: (a) during the course, or as a result, of the enquiry referred to in COLL 7.3.5 R (1) (Solvency statement), the directors become of the opinion that it will not be possible to provide the confirmation referred to in (2)(a) of that rule; or(b) after winding up or termination has commenced, the ACD becomes of the opinion that the ICVC will be unable to meet all its liabilities within twelve months of the date of the statement provided under (a) of COLL 7.3.5 R (2); the directors

Related provisions for LR 10.2.6

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