Related provisions for PERG 6.7.11
381 - 400 of 587 items.
A firm should carry out assessments of the sort described in the overall Pillar 2 rule and GENPRU 1.2.39 R at least annually, or more frequently if changes in the business, strategy, nature or scale of its activities or operational environment suggest that the current level of financial resources is no longer adequate. The appropriateness of the internal process, and the degree of involvement of senior management in the process, will be taken into account by the FSA when reviewing
The purpose of GENPRU 1.2.51 R – GENPRU 1.2.53 R is to enable the FSA to assess the extent, if any, to which a firm's assessment, calculated on a consolidated basis, is lower than it would be if each separate legal entity were to assess the amount of capital it would require to mitigate its risks (to the same level of confidence) were it not part of a group subject to consolidated supervision under BIPRU 8 (Group risk - consolidation) or INSPRU 6.1 (Group risk: Insurance groups).
If a prospectus relating
to an issuer that has its registered
office in a country that is not an EEA State is
drawn up in accordance with the legislation of that country, the FSA may, if the United
Kingdom is the Home State in
relation to the issuer, approve
the prospectus if it is satisfied
that:(1) the prospectus has
been drawn up in accordance with international standards set by international
securities commission organisations, including the IOSCO disclosure standards;
and(2)
1If the FSA, in the course of carrying on supplementary supervision of a financial conglomerate, is considering exercising its powers under section 148 of the Act (Modification or waiver of rules), regulation 4 of the Financial Groups Directive Regulations contains special provisions. The FSA must, in broad terms, do two things. Where required by those regulations, it must obtain the consent of the relevant competent authorities of the group. And, where required by those Regulations,
The Act prohibits any person from carrying on, or purporting to carry on, regulated activities in the United Kingdom unless that person is an authorised person or an exempt person. If an overseas investment exchange or overseas clearing house wishes to undertake regulated activities in the United Kingdom, it will need to:(1) obtain a Part IV permission from the FSA; (2) (in the case of an EEA firm or a Treaty firm) qualify for authorisation under Schedule 3 (EEA Passport Rights)
1An applicant for admission of certificates representing certain securities must submit a letter to the FSA setting out how it satisfies the requirements in LR 2 and LR 18.2 no later than when the first draft of a prospectus for the certificates is submitted, or if the FSA is not approving a prospectus, at a time agreed with the FSA.
The purposes of SYSC are:(1) to encourage firms' directors and senior managers to take appropriate practical responsibility for their firms' arrangements on matters likely to be of interest to the FSA because they impinge on the FSA's functions under the Act;(2) to increase certainty by amplifying Principle 3, under which a firm must take reasonable care to organise and control its affairs responsibly and effectively, with adequate risk management systems;1(3) to encourage firms
In
determining whether or not the particular conduct of an approved
person within his controlled function complies with the Statements of Principle, the following are
factors which, in the opinion of the FSA, are to be taken into account:(1) whether
that conduct relates to activities that are subject to other provisions of
the Handbook;(2) whether
that conduct is consistent with the requirements and standards of the regulatory system relevant to his firm.
(1) The FSA may, at any time, require an issuer to publish such information in such form and within such time limits as it considers appropriate to protect investors or to ensure the smooth operation of the market.(2) If an issuer fails to comply with a requirement under paragraph (1) the FSA may itself publish the information (after giving the issuer an opportunity to make representations as to why it should not be published).
(1) The Senior Management Arrangements, Systems and Controls sourcebook contains high-level record-keeping requirements (see SYSC 3.2.20 R). These require firms to take reasonable care to make and retain adequate records of matters and dealings which are the subject of requirements and standards under the regulatory system, which includes this sourcebook.(2) This sourcebook does not generally have detailed record-keeping requirements: firms will need to decide what records they