Related provisions for MCOB 7.3.3
41 - 60 of 152 items.
In order to provide the unitholders with regular and relevant information about the progress of the authorised fund, the authorised fund manager must:(1) prepare a short report and a long report half-yearly and annually; (2) send the short report to all unitholders; and(3) make the long report available to unitholders on request.
(1) An annual long report on an authorised fund, other than a scheme which is an umbrella, must contain:(a) the fullaccounts for the annual accounting period which must be prepared in accordance with the requirements of the IMA SORP;(b) the report of the authorised fund manager in accordance with COLL 4.5.9 R (Authorised fund manager's report);(c) the comparative table in accordance with COLL 4.5.10 R (Comparative table);(d) the report of the depositary in accordance with COLL
The authorised fund manager must ensure that the report of the auditor to the unitholders must include a statement:(1) whether, in the auditor's opinion, the accounts have been properly prepared in accordance with the IMA SORP, the rules in this sourcebook, and the instrument constituting the scheme;(2) whether, in the auditor's opinion, the accounts give a true and fair view of the net incomeand the net gains or losses ofthe scheme property of the authorised fund (or, as the
The following documents must be submitted, in final form, to the FSA by midday two business days before the FSA is to consider the application:(1) a completed Application for Admission of Securities to the Official List;(2) one of:(a) the prospectus, or listing particulars, that has been approved by the FSA; or(b) a copy of the prospectus, a certificate of approval and (if applicable) a translation of the summary of the prospectus, if another EEA State is the home Member State
The following documents must be submitted in final form to the FSA as soon as practicable after the FSA has considered the application:(1) a statement of the number of securities that were issued and, where different from the number which were the subject of the application, the aggregate number of securities of that class in issue;(2) a completed Issuer's Declaration; and(3) in an issue pursuant to a notice served under section 429 of the Companies Act 1985 (Right of offeror
1A risks and features statement need not be personalised to the customer's circumstances but must:(1) include the Key facts logo in a prominent position at the top of the statement;(2) state that the FSA requires a firm to provide the statement;(3) state that mortgages are available and that the customer should think carefully about the product appropriate to his needs;(4) describe the significant features of the plan, including:(a) how the home purchase plan works;(b) the nature
A firm must provide the FSA, twice a year, with a report in the format set out in DISP 1 Annex 1R which contains (for the relevant reporting period) information about:2(1) the total number of complaints subject to DISP 1.4 to DISP 1.6 received by the firm, broken down according to the categories and in respect of each of the generic product types described in DISP 1 Annex 1R which are relevant to the firm;2(2) the total number of complaints subject to DISP 1.4 - DISP 1.6 closed
For the purpose of DISP 1.5.4 R, upon completing the return, the firm should note that:33(1) Where a complaint could fall into more than one category, the complaint should be recorded in the category which the firm considers to form the main part of the complaint.(2) Where a complaint has been upheld under DISP 1.5.4 R (3)(a), a firm should report any complaints to which it has given a final response which accepts the complaint, and, where appropriate, offers redress, even if
For the purposes of DISP 1.5.4 R:(1) The relevant reporting periods are:33(a) the six months immediately following a firm's accounting reference date; and3(b) the six months immediately preceding a firm's accounting reference date.3(2) Reports are to be submitted to the FSA within 30 business days of the end of the relevant reporting period.33
LR 8.4.2 R to LR 8.4.6 R apply in relation to an application for admission of equity securities if an applicant does not have equity securities already listed and:(1) the production of a prospectus is required; or(2) the application is accompanied by a certificate of approval from another competent authority; or(3) the application is accompanied by a summary document as required byPR 1.2.3R (8).
A sponsor must:(1) submit a completed Sponsor's Declaration on an Application for Listing to the FSA either:(a) on the day the FSA is to consider the application for approval of the prospectus and prior to the time the prospectus is approved; and(b) at a time agreed with the FSA if the FSA is not approving the prospectus;(2) submit a completed Shareholder Statement or aPricing Statement, as applicable, to the FSA by 9 a.m. on the day the FSA is to consider the application; and(3)
A sponsor acting on a transaction falling within LR 8.4.11 R must:(1) submit a completed Sponsor's Declaration for the Production of a Circular to the FSA on the day the circular is to be approved by the FSA and prior to the time the circular is approved;(2) submit a completed Pricing Statement, if applicable, to the FSA by 9 a.m on the day the FSA is to consider the application; and(3) ensure that all matters known to it which, in its reasonable opinion, should be taken into
Section 87A(1) of the Act provides for the approval of a prospectus by the FSA:
(1) |
The [FSA] may not approve a prospectus unless it is satisfied that: |
|
(a) |
the United Kingdom is the home State in relation to the issuer of the transferable securities to which it relates, |
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(b) |
the prospectus contains the necessary information, and |
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(c) |
all of the other requirements imposed by or in accordance with this Part or the prospectus directive have been complied with (so far as those requirements apply to a prospectus for the transferable securities in question). |
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A retail customer has no right to cancel a home finance transaction1 concluded with a firm but may have a right to cancel a distance contract concluded with a mortgage intermediaryor a home purchase intermediary1for the provision of his services. Whether a mortgage intermediary or a home purchase intermediary1 concludes a distance mortgage mediation contract or a distance home purchase mediation contract1 with a retail customer will depend on the circumstances. For example, an
(1) If an issuer prepares both own and consolidated annual accounts it may publish either form provided that the unpublished accounts do not contain any significant additional information.1(2) If the annual accounts do not give a true and fair view of the assets and liabilities, financial position and profits or losses of the issuer or group, additional information must be provided to the satisfaction of the FSA.1(3) An issuer incorporated or established in a non-EEA State which
An issuer must ensure that any circular it issues to holders of its listed securities about proposed amendments to a trust deed includes:(1) an explanation of the effect of the proposed amendments; and(2) either the full terms of the proposed amendments, or a statement that they will be available for inspection:(a) from the date the circular is sent until the close of the relevant general meeting at a place in or near the City of London or such other place as the FSA may determine;
A firm, A,4 must have in place and operate appropriate and effective internal complaint handling procedures (which must be written down) for:(1) handling any expression of dissatisfaction, whether oral or written, and whether justified or not, from or on behalf of an eligible complainant about A's4 provision of, or failure to provide, a financial service; and44(2) referring to another firm, B, expressions of dissatisfaction about B's services, if A markets (or has marketed) B's
If, notwithstanding the steps taken by a firm to comply with MCOB 1.6.3 R, it transpires that a mortgage which the firm has treated as unregulated is in fact a regulated mortgage contract, the firm must as soon as practicable after the correct status of the mortgage has been established:(1) contact the customer and provide him with the following information in a durable medium:(a) a statement that the mortgage contract is a regulated mortgage contract subject to FSA regulation,
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)) |
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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) |
(1) The ACD need not (as would be required under COLL 4.5.13 R (Provision of short report)) send to each Unitholder a copy of any short report relating to an annual accounting period or half-yearly accounting period which began after commencement of winding up or termination, if the directors of the ICVC, after consulting the FSA, have reasonably determined that this is not required in the interest of unitholders. (2) Where (1) applies, a copy of the short or long report must
A class 1 circular must also include the following information:(1) the information given in the notification (see LR 10.4.1R);(2) the information required by LR 13 Annex 1;(3) the information required by LR 13.5 (if applicable); and(4) a declaration by its directors in the following form (with appropriate modifications):"The directors of [the company], whose names appear on page [ ], accept responsibility for the information contained in this document. To the best of the knowledge
(1) For the purpose of MCOB 13.5.1 R, charges that trigger the requirement for regular statements include all charges and fees levied directly as a result of the account falling into arrears. This includes charges such as monthly administrative charges, legal fees and interest. If interest is applied to the amount of the arrears, as it is applied to the rest of the mortgage, a firm need not send a written statement, unless other charges are also being made. If interest is applied
A listed company must inform the FSA in writing as soon as possible if it has:(1) requested a RIE to admit or re-admit any of its listedequity securities or listed preference shares to trading; or(2) requested a RIE to cancel or suspend trading of any of its listedequity securities or listedpreference shares; or(3) been informed by a RIE that trading of any of its listedequity securities or listedpreference shares will be cancelled or suspended.
(1) This chapter applies if a firm:(a) makes a personal recommendation to a customer to enter into a home finance transaction2; or2(b) provides information to a customer that is specific to the amount to be provided on a particular home finance transaction2, including information provided in response to a request from a customer; or2(c) provides the means for a customer to make an application to it;in connection with entering into, or agreeing to enter into, a home finance transaction
In relation to a regulated mortgage contract, where2 part of the loan is not a regulated mortgage contract, for example it is a linked unsecured loan, the details of this loan can be shown in Section 12 of the illustration as an additional feature. It should not be added to the regulated mortgage contract loan amount in MCOB 5.6.6 R(2).2
Where the Ombudsman considers that the complaint or the complainant may be ineligible under the jurisdiction rules (see DISP 2 (Jurisdiction of the Financial Ombudsman Service)) he must give the complainant an opportunity to make representations before he reaches his decision and he must give reasons to the complainant for that decision and inform the firm or licensee4 of his decision.