Related provisions for SYSC 7.1.1
101 - 120 of 143 items.
For a larger and/or more complex firm, appropriate systems to evaluate and manage interest rate risk in the non-trading book mayinclude:(1) the ability to measure the exposure and sensitivity of the firm's activities, if material, to changes in the shape of the yield curve, changes between different market rates (i.e. basis risk) and changes to assumptions (for example those about customer behaviour);(2) consideration as to whether a purely static analysis of the impact on their
Large risks situated outside the EEA are also excluded (described in more detail at PERG 5.11.16 G (Large risks)). The location of the risk or commitment may be determined by reference to the EEA State in which the risk is situated, defined in article 2(d) of the Second Non-Life Directive (88/357/EEC) or the EEA State of the commitment, defined in article 1(1)(g) of the Consolidated Life Directive (2002/83/EC).Broadly put, this is:(1) for insurance relating to buildings and/or
It is unlikely that the
behaviour
of market users when trading at times and in sizes most beneficial to them (whether for the purpose of long term investment objectives, risk management or short term speculation) and seeking the maximum profit from their dealings will of itself amount to distortion. Such
behaviour, generally speaking, improves the liquidity and efficiency of markets.
This section also sets out requirements for the separation of different types of insurance activity. However, in most circumstances the combination of different types of insurance activity within the same firm is a source of strength. Adequate pooling and diversification of insurance risk is fundamental to sound business practice. The requirements, therefore, only apply in two specific cases where without adequate protection the combination might operate to the detriment of policyholders.
The FSAmay seek to vary a firm's Part IV permission on its own initiative
in certain situations including
the following:(1) If
the FSA determines
that a firm's management, business
or internal controls give rise
to material risks that are not fully addressed by its rules,
the FSAmay
seek to vary
the firm's Part
IV permission and impose an additional requirement or limitation on the firm.(2) If
a firm becomes or is to become
involved with new products or selling practices which
Some of the distinguishing features of notices given under enactments other than the Act are as follows: (1) Building Societies Act 1986, section 36A: There is no right to refer a decision to issue a prohibition order under section 36A to the Tribunal. Accordingly, a decision notice under section 36A(5A) is not required to give an indication of whether any such right exists. A decision notice under section 36A(5A) may only relate to the issue of a prohibition order under section
(1) An authorised fund manager must, as frequently as necessary to ensure compliance with COLL 8.4.7 R (2) and COLL 8.4.7 R (4), re-calculate the amount of cover required in respect of derivatives and forwards positions in existence under this chapter.(2) Derivatives and forwards positions may be retained in the scheme property only so long as they remain covered globally under COLL 8.4.7 R.(3) An authorised fund manager must use a risk management process enabling it to monitor
In addition to the requirements in LR 9.8 (Annual financial report), a closed-ended investment fund must include in its annual financial report:(1) a statement (including a quantitative analysis) explaining how it has invested its assets with a view to spreading investment risk in accordance with its published investment policy; (2) a statement, set out in a prominent position, as to whether in the opinion of the directors, the continuing appointment of the investment manager
The interim management report must include at least:(1) an indication of important events that have occurred during the first six months of the financial year, and their impact on the condensed set of financial statements, and(2) a description of the principal risks and uncertainties for the remaining six months of the financial year.[Note: article 5(4) of the TD]
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