Related provisions for SUP 6.3.30
Schedule to the Recognition Requirements Regulations, Paragraph 6
2(1) The [UK RIE] must be able and willing to promote and maintain high standards of integrity and fair dealing in the carrying on of regulated activities by persons in the course of using the facilities provided by the [UK RIE]. |
(2) The [UK RIE] must be able and willing to cooperate by the sharing of information or otherwise, with the [FSA],with any other authority, body or person having responsibility in the United Kingdom for the supervision or regulation of any regulated activity or other financial service, or with an overseas regulator within the meaning of section 195 of the Act. |
Multiple principal agreement
Matter |
Explanation |
|
1. |
Scope of appointment |
The scope of appointment given by each principal to the appointed representative. |
2. |
Complaints handling |
The identity of the principal which will be the point of contact for a complaint from a client (referred to as the "lead-principal" in SUP 12.4.5D G to SUP 12.4.5E G). |
An agreement that each principal will co-operate with each other principal in resolving a complaint from a client in relation to the appointed representative's conduct. |
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The arrangements for complaints handling, including arrangements for resolving disputes between the principals in relation to their liability to a client in respect of a complaint and arrangements for dealing with referrals to the Financial Ombudsman Service. |
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3. |
The arrangements for approving financial promotion. |
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4. |
Control and monitoring |
The arrangements for the control and monitoring of the activities of the appointed representative (see in particular SUP 12.6.6 R (Regulated activities and investment services outside the scope of appointment) and SUP 12.6.7 G (Senior management responsibility for appointed representatives)). |
5. |
Approved person status |
The arrangements for making applications for approved person status (see SUP 10 (Approved persons)). |
6. |
Training and competence |
The arrangements for training and competence (see TC). |
7. |
Co-operation |
The arrangements for co-operation over any other issues which may arise from the multiple appointments, including issues which may damage the interests of clients dealing with the appointed representative and administrative issues. |
An agreement by each principal to take reasonable steps to ensure that it does not cause the appointed representative or any of its other principals to be in breach of their obligations to each other or under the regulatory system. |
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8. |
Sharing information |
The arrangements for sharing information on matters relevant to the matters covered under the multiple principal agreement and each principal's obligations under SUP 12.6 (Continuing obligations of firms with appointed representatives). |
An agreement that each principal will notify each other principal of any information which is materially relevant to the multiple principal agreement. |
Table Controlled activities
1. |
Accepting deposits |
2. |
Effecting and carrying out contracts of insurance |
3. |
Dealing in securities and contractually based investments |
4. |
Arranging deals in investments |
4A.4 |
Operating a multilateral trading facility4 |
5. |
Managing investments |
6. |
Safeguarding and administering investments |
7. |
Advising on investments |
8. |
Advising on syndicate participation at Lloyd's |
9. |
Providing funeral plan contracts |
10. |
Providing qualifying credit |
11.3 3 |
Arranging qualifying credit etc |
12.3 3 |
Advising on qualifying credit etc |
313. |
Providing a home reversion plan |
314. |
Arranging a home reversion plan |
315. |
Advising on a home reversion plan |
316. |
Providing a home purchase plan |
317. |
Arranging a home purchase plan |
318. |
Advising on a home purchase plan |
19.3 3 |
Agreeing to do anything in 3 to 183 above 3 |