Related provisions for COLL 3.2.4

COLL 7.1.3G01/04/2004

(1) This chapter helps to achieve the regulatory objective of protecting investors by ensuring they do not buy or redeemunits at a price that cannot be calculated accurately. For instance, due to unforeseen circumstances, it may be impossible to value, or to dispose of and obtain payment for, all or some of the scheme property of an authorised fund or sub-fund. COLL 7.2.1 R (Requirement) sets out the circumstances in which an authorised fund manager must or may suspend dealings

FEES 4.2.2G01/01/2006

A relevant fee payer will be required to pay a periodic fee for every year during which they have the status in column 1 of the table in FEES 4.2.11 R (or in relation to collective investment schemes, for every year during which it is a regulated collective investment scheme) subject to any reductions or exemptions applicable under this chapter. If a person is the relevant fee payer for more than one status listed in column 1 of the table in FEES 4.2.11 R (or in relation to

SUP 16.1.3R01/01/2007

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
	UK ISPV 15			SUP 16.7.21A R and SUP 16.7.21B R15
	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
	13 Insurer Friendly society			SUP 16.7.73 RtoSUP 16.7.75 R
	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.

PERG 8.25.2G01/07/2005

Article 53 does not apply to advice given on any of the following:(1) deposit or other bank or building society accounts (but note that providing basic advice on a stakeholder product including stakeholder deposit accounts is a separate regulated activity under article 52A of the Regulated Activities Order - see the guidance in PERG 2.7.14A G (Providing basic advice on stakeholder products));(2) interests under the trusts of an occupational pension scheme (but rights under an

SUP 17.1.1R21/06/2001

(1) This chapter applies to every firm which is:(a) a securities and futures firm; or(b) a personal investment firm; or(c) an investment firm (including a credit institution which is an investment firm) not within (a) or (b) excluding a firm to whom the ISD does not apply under Article 2(2) of the ISD.(2) This chapter does not apply to:(a) an incoming EEA firm in relation to its passported activities; or(b) an oil market participant in relation to its oil market activities.

DTR 5.1.5R20/01/2007

(1) The following are to be disregarded for the purposes of determining whether a person has a notification obligation in accordance with the thresholds in DTR 5.1.2 R except at the thresholds of 5% and 10% and above:(a) voting rights attaching to shares forming part of property belonging to another which that person lawfully manages under an agreement in, or evidenced in, writing;(b) voting rights attaching to shares which may be exercisable by a person in his capacity as the

PERG 9.6.1G01/07/2005

If BC comes within the definition of a collective investment scheme, the third element in determining whether it is an open-ended investment company is whether the 'investment condition' is satisfied. This condition is that, in relation to BC, a reasonable investor would, if he were to participate in the scheme:(1) expect that he would be able to realise his investment in the scheme, within a period appearing to him to be reasonable; his investment would be represented, at any

PERG 2.4.3G01/07/2005

Section 418 of the Act (Carrying on regulated activities in the United Kingdom) takes this one step further. It extends the meaning that 'in the United Kingdom' would ordinarily have by setting out five additional cases. The Act states that, in these five cases, a person who is carrying on a regulated activity but who would not otherwise be regarded as carrying on the activity in the United Kingdom is, for the purposes of the Act, to be regarded as carrying on the activity in

DTR 5.2.2G20/01/2007

Cases (a) to (h) in DTR 5.2.1 R identify situations where a person may be able to control the manner in which voting rights are exercised and where, (taking account of any aggregation with other holdings) a notification to the issuer may need to be made. In the FSA's view:(1) Case (e) produces the result that it is always necessary for the parent undertaking of a controlled undertaking to aggregate its holding with any holding of the controlled undertaking (subject to the exemptions

PERG 8.1.3G01/07/2005

In particular, this guidance covers:(1) invitations and inducements (see PERG 8.4);(2) meaning of 'in the course of business' (see PERG 8.5);(3) meaning of 'communicate' (see PERG 8.6);(4) meaning of 'engage in investment activity' (see PERG 8.7);(5) meaning of 'having an effect in the United Kingdom' (see PERG 8.8);(6) circumstances where the restriction in section 21 does not apply (see PERG 8.9);(7) types of financial promotion, including:(a) meaning of 'real time financial

CASS 1.4.7R01/12/2004

The remainder of CASS applies to a depositary, when acting as such, with the following general modifications:(1) except in CASS 4.5, 'client' means 'trustee', 'trust' or 'collective investment scheme' as appropriate; and(2) in CASS 4.5, 'client' means 'trustee' 'collective investment scheme' or 'collective investment scheme instrument' as appropriate.

BIPRU 3.5.5G01/01/2007

Table : Simplified method of calculating risk weights

This table belongs to BIPRU 3.5.4 G.

Exposure class	Exposure sub-class	Risk weights	Comments
Central government	Exposures to United Kingdom government or Bank of England in sterling	0%
	Exposures to United Kingdom government or Bank of England in the currency of another EEA State	0%	See Note 2.
	Exposures to EEA State's central government or central bank in currency of that state	0%
	Exposures to EEA State's central government or central bank in the currency of another EEA State	0%	See Notes 2 and 3.
	Exposures to central governments or central banks of certain countries outside the EEA in currency of that country	See next column	The risk weight is whatever it is under local law. See BIPRU 3.4.6 R for precise details.
	Exposures to European Central Bank	0%
	Other exposures	100%
Regional/local governments	Exposures to the Scottish Parliament, National Assembly for Wales and Northern Ireland Assembly in sterling	0%
	Exposures to the Scottish Parliament, National Assembly for Wales and Northern Ireland Assembly in the currency of another EEA State	0%	See Note 2.
	Exposures to EEA States' equivalent regional/local governments in currency of that state	0%	See BIPRU 3.4.17 R for details of type of local/regional government covered.
	Exposures to EEA States' equivalent regional/local governments in the currency of another EEA State	0%	See BIPRU 3.4.17 R for details of type of local/regional government covered. See Notes 2 and 3.
	Exposures to local or regional governments of certain countries outside the EEA in currency of that country	0%	See BIPRU 3.4.19 R for details of type of local/regional government covered. See Note 1.
	Exposures to United Kingdom or EEA States' local/regional government in currency of that state if the exposure has original effective maturity of 3 months or less	20%
	Exposures to United Kingdom or EEA States' local/regional government in the currency of another EEA State if the exposure has original effective maturity of 3 months or less	20%	See Note 2. See Note 3 for local/regional government of an EEA State other than the United Kingdom
	Exposures to local or regional governments of countries outside the EEA in currency of that country if the exposure has original effective maturity of 3 months or less	20%	See Note 1.
	Other exposures	100%
PSE	Exposures to a PSE of the United Kingdom or of an EEA State if that PSE is guaranteed by its central government and if the exposure is be in currency of that PSE's state.	0%	BIPRU 3.4.24 R describes the United Kingdom PSEs covered and BIPRU 3.4.25 R describes the EEA PSEs covered.
	Exposures to PSE of a country outside the EEA if that PSE is guaranteed by the country's central government and if the exposure is in currency of that country.	0%	See BIPRU 3.4.26 R and Note 1.
	Exposures to a PSE of the United Kingdom or of an EEA State in currency of that state if the exposure has original effective maturity of 3 months or less	20%
	Exposures to a PSEof the United Kingdom or of an EEA State in the currency of another EEA State if the exposure has original effective maturity of 3 months or less	20%	See Notes 2 and 3.
	Exposures to PSE of a country outside the EEA in currency of that country if the exposure has original effective maturity of 3 months or less	20%	See Note 1.
	Other exposures	100%
Multilateral development banks	Exposures to multilateral development banks listed in paragraph (1) of the Glossary definition	0%	Simplified approach does not apply. Normal rules apply.
Multilateral development banks	Other exposures	Various	Treated as an institution
European Community, the International Monetary Fund and the Bank for International Settlements		0%	Simplified approach does not apply. Normal rules apply.
Institutions	Exposures to United Kingdom institution in sterling with original effective maturity of three months or less	20%
	Exposures to United Kingdom institution in the currency of another EEA State with original effective maturity of three months or less	20%	See Note 2.
	Exposures to institution whose head office is in another EEA State in the currency of that state with original effective maturity of three months or less	20%
	Exposures to institution whose head office is in another EEA State in the currency of another EEA State with original effective maturity of three months or less	20%	See Notes 2 and 3.
	Exposures to institution with a head office in a country outside the EEA in the currency of that country with original effective maturity of three months or less	20%	See Note 1.
	Exposures to United Kingdom institution in sterling with original effective maturity of over three months	50%
	Exposures to United Kingdom institution in the currency of another EEA State with original effective maturity of over three months	50%	See Note 2.
	Exposures to an EEA institution with a head office in another EEA State in the currency of that state with original effective maturity of over months	50%
	Exposures to an EEA institution with a head office in another EEA State in the currency of another EEA State with original effective maturity of over months	50%	See Notes 2 and 3.
	Exposures to institution with a head office in a country outside the EEA in the currency of that country with original effective maturity of over months	50%	See Note 1.
	Other exposures	100%
Corporates		100%
Retail exposures		75%	Simplified approach does not apply. Normal rules apply.
Mortgages on residential or commercial property		Various	Simplified approach does not apply. Normal rules apply.
Past due items		Various	Simplified approach does not apply. Normal rules apply.
High risk items		150%	Simplified approach does not apply. Normal rules apply.
Covered bonds		Various	Risk weights are based on the risk weight of issuer as described in BIPRU 3.4.110 R. The risk weight of the issuer for this purpose should be calculated under the simplified approach.
Securitisation exposures		Generally 1250%. May look through to underlying exposures if BIPRU 9 allows.	Use the BIPRU 9rules for unrated exposures under the standardised approach
Short term exposures with rating			See BIPRU 3.4.112 R. Not applicable as uses ECAI ratings.
CIUs	May look through to underlying under BIPRU 3.4.123 R	Various	Simplified approach does not apply. Normal rules apply. May use simplified approach to underlying if simplified approach applies to underlying.
	May use average risk weight under BIPRU 3.4.124 R	Various	Simplified approach does not apply. Normal rules apply. May use simplified approach to underlyings if simplified approach applies to underlying.
	High risk under BIPRU 3.4.118 R	150%	Simplified approach does not apply. Normal rules apply.
	Others	100%
Other items under BIPRU 3.2.9 R (16)		Various	Simplified approach does not apply. Normal rules apply.
Note 1: The risk weight should not be lower than the risk weight that applies for national currency exposures of the central government of the third country in question under BIPRU 3.5. That means that this risk weight only applies if the third country is one of those to which BIPRU 3.4.6 R (Preferential risk weight for exposures of the central government of countries outside the EEA that apply equivalent prudential standards) applies.
Note 2: This is a transitional measure. It lasts until 31 December 2012.
Note 3: The risk weight should not be lower than the risk weight that applies for exposures of the central government of the EEA State in question in the currency of another EEA State under BIPRU 3.5.

PERG 9.7.2G01/07/2005

The characteristics that a reasonable investor can be expected to have will inform the use of judgment required by the 'expectation test' and the 'satisfaction test'. These tests relate to the investor's ability to realise an investment within a reasonable period and to do so on the basis of the net value of its assets. In the FSA's view, the characteristics of the reasonable investor include:(1) sound judgment based on good sense;(2) some knowledge of, and possibly experience

COLL 5.1.4G01/04/2004

This table belongs to COLL 5.1.2G (2).

Scheme investments and investment techniques	Limits for UCITS schemes		Limits for non-UCITS retail schemes
	Permissible investment	Maximum limit	Permissible investment	Maximum limit
Approved securities	Yes	None	Yes	None
Transferable securities that are not approved securities	Yes	10%	Yes	20%
Government and public securities	Yes	None	Yes	None
Regulated schemes	Yes	None	Yes	None
Unregulated schemes	No	N/A	Yes	20%
Warrants	Yes	None	Yes	None
Investment trusts	Yes	None	Yes	None
Deposits	Yes	None	Yes	None
Derivatives	Yes	None	Yes	None
Immovables (i.e real property)	No	N/A	Yes	None
Gold	No	N/A	Yes	10%
Hedging	Yes	None	Yes	None
Stock lending	Yes	None	Yes	None
Underwriting	Yes	None	Yes	None
Borrowing	Yes	10% (T)	Yes	10%
Cash and near cash	Yes	None	Yes	None
Note:	Meaning of terms used:
A percentage	an upper limit (though there may be limits of other kinds).
"(T)"	temporary only- see COLL 5.5.4R(4)
"N/A"	Not applicable

COLL 7.5.2G01/04/2004

The information referred to in COLL 7.5.1 G is listed below:(1) the name of the authorised fund or sub-fund;(2) the size of the authorised fund or sub-fund;(3) the number of unitholders; (4) whether dealing in units has been suspended;(5) why the request is being made; (6) what consideration has been given to the authorised fund or sub-fund entering into a scheme of arrangement with another regulated collective investment scheme and the reasons why a scheme of arrangement is not

FEES 4.1.4G01/01/2006

(1) The periodic fees for collective investment schemes reflect the estimated costs to the FSA of considering proposals to change regulated collective investment schemes, maintaining up to date records about them, and related policy work.(2) The provision of the Direct Reporting System andTransaction Reporting System facilities for firms reporting transactions under SUP 17 incurs costs to the FSA. These costs depend upon the amount the facility is used. Accordingly the income

Related provisions for COLL 3.2.4

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Application of different sections of SUP 16