Related provisions for PERG 6.4.3

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SUP 16.6.4RRP
A bank and an ELMI must submit compliance reports to the FSA in accordance with SUP 16.6.5 R.
SUP 16.6.8RRP
(1) The report from a trustee of an AUT to the FSA must state, in relation to the manager of each AUT for which it is a trustee, the number of times during the quarter in which facts came to the firm's knowledge from which it appeared, or might have appeared, that the manager had failed (materially or otherwise) to: (a) give correct instructions to the trustee to create or cancel units in the AUT when the manager should have done so, and the error: (i) resulted in the creation
PERG 5.1.1GRP
This chapter applies principally to any person who needs to know whether he carries on insurance mediation activities and is thereby subject to FSA regulation. As such it will be of relevance among others to:(1) insurance brokers;(2) insurance advisers;(3) insurance undertakings; and(4) other persons involved in the sale and administration of contracts of insurance, even where these activities are secondary to their main business.
PERG 5.1.7GRP
This guidance is issued under section 157of the Act (Guidance). It is designed to throw light on particular aspects of regulatory requirements, not to be an exhaustive description of a person's obligations. If a person acts in line with the guidance and the circumstances contemplated by it, then the FSA will proceed on the footing that the person has complied with aspects of the requirement to which the guidance relates.
PERG 5.1.8GRP
Rights conferred on third parties cannot be affected by guidance given by the FSA. This guidance represents the FSA's view, and does not bind the courts, for example, in relation to the enforceability of a contract where there has been a breach of the general prohibition on carrying on a regulated activity in the United Kingdom without authorisation (see sections 26 to 29 of the Act (Enforceability of Agreements)).
PERG 2.10.5GRP
A person is exempt if he is an appointed representative of an authorised person. See SUP 12 (Appointed representatives). But where an appointed representative carries on insurance mediation or reinsurance mediation he will not be exempt unless he is included on the register kept by the FSA under article 93 of the Regulated Activities Order (Duty to maintain a record of unauthorised persons carrying on insurance mediation activities) (see PERG 5.13 (Appointed representatives
PERG 2.10.10GRP
But under section 316 of the Act (Direction by the FSA) the general prohibition does not apply to a person who is a member of the Society of Lloyds unless the FSA has made a direction that it should apply. The general prohibition is disapplied in relation to any regulated activity carried on by a member relating to contracts of insurance written at Lloyds. Directions can be made by the FSA in relation to individual members or the members of the Society of Lloyds taken together.
PERG 2.10.13GRP
Such a person may carry on regulated activities if the conditions outlined below are met, that is the person:(1) is not affected by an order or direction made by the FSA under section 328 or 329 of the Act (Directions and orders in relation to the general prohibition) which has the effect of re-imposing the general prohibition in any particular case;(2) is, or is controlled by, a member of a profession;(3) does not receive any pecuniary reward or other advantage from the regulated
PERG 2.10.16GRP
A person carrying on regulated activities under the regime for members of the professions will be subject to rules made by the professional body designated by the Treasury. Such bodies are obliged to make rules governing the carrying on by their members of those regulated activities that they are able to carry on without authorisation under the Act. Where such a person is carrying on insurance mediation or reinsurance mediation, he must also be included on the register kept by
COLL 2.1.3GRP
(1) This chapter sets out the requirements that a person must follow in applying for an authorisation order for a scheme under regulation 12 of the OEIC Regulations (Applications for authorisation) or section 242 of the Act (Applications for authorisation of unit trust schemes).(2) COLLG 3 (The FSA's responsibilities under the Act) and COLLG 4 (The FSA's responsibilities under the OEIC Regulations) provide more information on what the Act and the OEIC Regulations require in
COLL 2.1.4DRP
An application for an authorisation order in respect of an authorised fund must be:(1) in writing in the manner directed and contain the information required in the application form available from the FSA;(2) addressed for the attention of a member of FSA staff responsible for collective investment scheme authorisation matters; and(3) delivered to the FSA's address by one of the following methods:(a) posting; or(b) leaving it at the FSA's address and obtaining a time-stamped receipt;
MIPRU 2.2.2RRP
The firm may allocate the responsibility for its insurance mediation activity to an approved person (or persons) performing:(1) a governing function (other than the non-executive director function); or(2) the apportionment and oversight function; or(3) the significant management (other business operations) function.
MIPRU 2.2.3GRP
(1) Typically an insurance intermediary will appoint a person performing a governing function (other than the non-executive director function) to direct its insurance mediation activity. Where this responsibility is allocated to a person performing another function, the person performing the apportionment and oversight function with responsibility for the apportionment of responsibilities must ensure that the firm'sinsurance mediation activity is appropriately allocated.(2) The
MIPRU 2.2.5GRP
The FSA will specify in the FSA Register the name of the persons to whom the responsibility for the firm'sinsurance mediation activity has been allocated. by inserting after the relevant controlled function the words "(insurance mediation)". In the case of a sole trader, the FSA will specify in the FSA Register the name of the sole trader as the 'contact person' in the firm.
LR 15.4.8RRP
A closed-ended investment fund must obtain the prior approval of the holders of the majority of its ordinary equity shares to any material change to its published investment policy.
SUP 15.9.1RRP
A firm that is a regulated entity must notify the FSA immediately it becomes aware that any consolidation group of which it is a member:(1) is a financial conglomerate; or(2) has ceased to be a financial conglomerate.
SUP 15.9.4RRP
A firm does not have to give notice to the FSA under SUP 15.9.1 R if it or another member of the consolidation group has already given notice of the relevant fact to:(1) the FSA; or(2) (if another competent authority is co-ordinator of the financial conglomerate ) that competent authority; or(3) (in the case of a financial conglomerate that does not yet have a co-ordinator ) the competent authority who would be co-ordinator under Article 10(2) of the Financial Groups Directive
LR 9.6.1RRP
A listed company must forward to the FSA for publication through the document viewing facility, two copies of all circulars, notices, reports or other documents to which the listingrules apply at the same time as they are issued.
LR 9.6.2RRP
A listed company must forward to the FSA, for publication through the document viewing facility, two copies of all resolutions passed by the listed company other than resolutions concerning ordinary business at an annual general meeting as soon as possible after the relevant general meeting.
LR 9.6.3RRP
(1) A listed company must notify a RIS as soon as possible when a document has been forwarded to the FSA under LR 9.6.1 R or LR 9.6.2 R unless the full text of the document is provided to the RIS.(2) A notification made under paragraph (1) must set out where copies of the relevant document can be obtained.
LR 9.6.19RRP
A listed company which changes its name must, as soon as possible:(1) notify a RIS of the change, stating the date on which it has taken effect;(2) inform the FSA in writing of the change; and(3) where the listed company is incorporated in the United Kingdom, send the FSA a copy of the revised certificate of incorporation issued by the Registrar of Companies.
REC 2.15.3GRP
In determining whether a UK recognised body has effective arrangements for monitoring and enforcing compliance with its rules (and, in the case of a UK RIE, its settlement arrangements), the FSA may have regard to:(1) the UK recognised body's ability to:(a) monitor and oversee the use of its facilities;(b) assess its members' compliance with its rules (and settlement arrangements, where appropriate);(c) assess the significance of any non-compliance;(d) take appropriate disciplinary
REC 2.15.4GRP
In assessing whether the procedures made by a UK recognised body to investigate complaints about the users of its facilities are satisfactory, the FSA may have regard to: (1) whether these procedures include arrangements which enable the UK recognised body to:(a) acknowledge complaints promptly;(b) consider and investigate these complaints objectively, promptly and thoroughly; (c) provide a timely reply to the complainant; and(d) keep adequate records of complaints and investigations;(2)
REC 2.15.5GRP
In assessing whether the arrangements include procedures for the fair, independent and impartial resolution of appeals against decisions of a UK recognised body, the FSA may have regard to at least the following factors: (1) the appeal procedures of the UK recognised body, including the composition and roles of any appeal committees or tribunals, and their relationship to the governing body; (2) the arrangements made to ensure prompt hearings of appeals from decisions made by
REC 2.15.6GRP
In assessing whether a UK recognised body's arrangements include appropriate provision for ensuring the application of any financial penalties in ways described in the recognition requirement, the FSA may have regard to: (1) the UK recognised body's policy regarding the application of financial penalties; (2) the arrangements made for applying that policy in individual cases; but the FSA does not consider that it is necessary for UK recognised bodies to follow any specific policy
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 with to establish, operate or wind up a stakeholder pension scheme;14a firm with permission to establish, operate or wind up a personal pension scheme or a stakeholder pension scheme;14

(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, home finance mediation activity,16 or both;8

16

(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.118

SUP 16.7.7 R to SUP 16.7.15 R18

Building society18

SUP 16.7.16 R to SUP 16.7.19 R18

Service company

SUP 16.7.20 R to SUP 16.7.21 R

UK ISPV15

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 Union182

SUP 16.7.62 R to SUP 16.7.63 R182

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 conglomerate1018

SUP 16.7.82 R to SUP 16.7.83 R1018

13Insurer 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)):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

home finance mediation activity;16 or8

16

(c)8

home finance providing activity;16 or8

16

(d)8

administering a home finance transaction;16 or8

16

(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 personal pension scheme or a stakeholder pension scheme14

14

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 home finance provider;16 or8

16

(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.

SUP 16.1.4GRP
(1) This chapter contains requirements to report to the FSA on a regular basis. These requirements include reports relating to a firm's financial condition, and to its compliance with other rules and requirements which apply to the firm. Where the relevant requirements are set out in another section of the Handbook, this chapter contains cross references. An example of this is financial reporting for insurers and friendly societies.(2) Where such requirements already apply to
MCOB 13.3.6GRP
In relation to adopting a reasonable approach to the time over which the payment shortfall or sale shortfall should be repaid,1the FSA takes the view that the determination of a reasonable repayment period will depend upon the individual circumstances. In appropriate cases this will mean that repayments are arranged over the remaining term. 11
MCOB 13.3.8GRP
Firms that propose to outsource aspects of customer relationships (including collection of debts or any other sums due1) should note that and SYSC 8,2 a firm cannot contract out its regulatory obligations and1 the FSA will continue to hold them responsible for the way in which this work is carried on.11
LR 7.2.1RRP

The Listing Principles are as follows:

Principle 1

A listed company must take reasonable steps to enable its directors to understand their responsibilities and obligations as directors.

Principle 2

A listed company must take reasonable steps to establish and maintain adequate procedures, systems and controls to enable it to comply with its obligations.

Principle 3

A listed company must act with integrity towards holders and potential holders of its listedequity securities.

Principle 4

A listed company must communicate information to holders and potential holders of its listedequity securities in such a way as to avoid the creation or continuation of a false market in such listedequity securities.

Principle 5

A listed company must ensure that it treats all holders of the same class of its listedequity securities that are in the same position equally in respect of the rights attaching to such listedequity securities.

Principle 6

A listed company must deal with the FSA in an open and co-operative manner.

LR 7.2.2GRP
Principle 2 is intended to ensure that listed companies have adequate procedures, systems and controls to enable them to comply with their obligations under the listing rules and disclosure rules and transparency rules. In particular, the FSA considers that listed companies should place particular emphasis on ensuring that they have adequate procedures, systems and controls in relation to:(1) identifying whether any obligations arise under LR 10 (Significant transactions) and
SUP 13A.5.3GRP
(1) Before an EEA firm exercises an EEA right to provide cross border services into the United Kingdom, the Act requires it to satisfy the service conditions, as set out in paragraph 14 of Part II of Schedule 3 to the Act. (2) For the purposes of paragraph 14(1)(b) of Part II of Schedule 3 to the Act, the information to be contained in the regulator's notice has been prescribed under regulation 3 of the EEA Passport Rights Regulations.
SUP 13A.5.5GRP
An EEA firm that has satisfied the service conditions in paragraph 14 of Part II of Schedule 3 to the Act is entitled to start providing cross border services into the United Kingdom. However, an EEA firm that wishes to start providing cross border services but has not yet received notification of the applicable provisions may wish to contact the FSA's Passport Notifications Unit (see SUP 13A.8.1G (2)).
SYSC 12.1.1RRP
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 12.1.18GRP
Assessment of the adequacy of a group's systems and controls required by this section will form part of the FSA's risk management process.
SYSC 12.1.21GRP
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
SYSC 12.1.22GRP
If both a firm and its parent undertaking are subject to SYSC 12.1.8R (2), the FSA would not expect systems and controls to be duplicated. In this case, the firm should assess whether and to what extent it can rely on its parent's group risk systems and controls.
COLL 4.5.14RRP
(1) The authorised fund manager must, within four months after the end of each annual accounting period and two months after the end of each half-yearly accounting period respectively, make available and publish the long reports2 prepared in accordance with COLL 4.5.7R (1) to (3)2 (Contents of the annual long report) and COLL 4.5.8R (1) to (2)2 (Contents of the half-yearly long report).22(2) The reports referred to in (1) must:(a) be supplied free of charge to any person on request2;2(b)
REC 4.1.2GRP
This chapter sets out the FSA's approach to the supervision of recognised bodies and contains guidance on: (1) the arrangements for investigating complaints about recognised bodies made under section 299 of the Act (Complaints about recognised bodies) (REC 4.4); (2) the FSA's approach to the exercise of its powers under:(a) section 296 of the Act (FSA's power to give directions) to give directions to recognised bodies (REC 4.6);(b) section 297 of the Act (Revoking recognition)
REC 4.1.3GRP
The FSA's general approach to supervision is intended to ensure that:(1) the FSA has sufficient assurance that recognised bodies continue at all times to satisfy the recognition requirements and other obligations imposed by or under the Act; and(2) the FSA's supervisory resources are allocated, and supervisory effort is applied, in ways which reflect the actual risks to the regulatory objectives.
REC 4.1.4GRP
In applying these principles of risk based supervision to the supervision of recognised bodies, the FSA has had particular regard to the special position of recognised bodies under the Act as well as to its general duties set out in section 2 of the Act (The FSA'sgeneral duties).
SUP 12.1.3GRP
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
SUP 12.1.4GRP
The FSA has produced a leaflet entitled "Becoming an appointed representative" which provides a comprehensive summary of some of the main features of the appointed representative regime. You may download a copy of this leaflet from our website at http://www.fsa.gov.uk/pubs/other/factsheet_appointed.pdf.
SYSC 6.3.5GRP
The FSA, when considering whether a breach of its rules on systems and controls against money laundering has occurred, will have regard to whether a common platform firm has followed relevant provisions in the guidance for the United Kingdom financial sector issued by the Joint Money Laundering Steering Group.
SYSC 6.3.9RRP
A common platform firm must:(1) appoint an individual as MLRO, with responsibility for oversight of its compliance with the FSA'srules on systems and controls against money laundering; and(2) ensure that its MLRO has a level of authority and independence within the firm and access to resources and information sufficient to enable him to carry out that responsibility.
SYSC 6.3.10GRP
The job of the MLRO within a firm is to act as the focal point for all activity within the firm relating to anti-money laundering. The FSA expects that a firm'sMLRO will be based in the United Kingdom.
DTR 5.4.4RRP
A parent undertaking which wishes to make use of the exemption in relation to issuers subject to this chapter whose shares are admitted to trading on a regulated market must without delay, notify the following to the FSA:1(1) a list of the names of those management companies, investment firms or other entities, indicating the competent authorities that supervise them, but with no reference to the issuers concerned; and(2) a statement that, in the case of each such management company
DTR 5.4.5RRP
Where the parent undertaking intends to benefit from the exemptions only in relation to the financial instruments referred to in Article 13 of the TD, it shall (in relation to financial instruments giving an entitlement to acquire shares which are admitted to trading on a regulated market) notify to the FSA only the list referred to in paragraph (1) of DTR 5.4.4 R.[Note: article 10(3) of the TD implementing Directive]
DTR 5.4.6RRP
A parent undertaking of a management company or of an investment firm must in relation to issuers subject to this chapter whose shares are admitted to trading on a regulated market be able to demonstrate to the FSA on request that:1(1) the organisational structures of the parent undertaking and the management company or investment firm are such that the voting rights are exercised independently of the parent undertaking;(2) the persons who decide how the voting rights are exercised
DTR 5.4.11RRP
A parent undertaking of a third country undertaking must comply with the notification requirements in DTR 5.4.4 R (1) and DTR 5.4.5 R and in addition: (1) must make a statement that in respect of each management company or investment firm concerned, the parent undertaking complies with the conditions of independence set down in DTR 5.4.10 R; and (2) must1 be able to demonstrate to the FSA on request that the requirements of DTR 5.4.6 R are respected.[Note: article 23 of the TD