Related provisions for MCOB 7.5.9
101 - 120 of 171 items.
In the FSA's opinion, however, such information is likely take on the nature of advice if the circumstances in which it is provided give it the force of a recommendation as described in PERG 4.6.10 G. Examples of situations where information provided by a person ('P') are likely to take the form of advice are given below.(1) P provides information on a selected, rather than balanced and neutral, basis that would tend to influence the decision of the borrower. This may arise where
The potential for variation in the form, content and manner of scripted questioning is considerable, but there are two broad types. The first type involves providing questions and answers which are confined to factual matters (for example, whether a borrower wishes to pay a fixed or variable rate of interest or the size of deposit available). In the FSA's view, this does not of itself amount to advising on regulated mortgage contracts, as it involves the provision of information
In broad terms, article 72C of the Regulated Activities Order excludes from the activities of arranging and assisting in the administration and performance of a contract of insurance activities that:(1) consist of the provision of information to the policyholder or potential policyholder;(2) are carried on by a person carrying on any profession or business which does not otherwise consist of regulated activities; and(3) amount to the provision of information that may reasonably
This exclusion applies to a person whose profession or business does not otherwise consist of regulated activities. In the FSA's view, the fact that a person may carry on regulated activities in the course of the carrying on of a profession or business does not, of itself, mean that the profession or business consists of regulated activities. This is provided that the main focus of the profession or business does not involve regulated activities and that the regulated activities
In relation to a regulated mortgage contract for a business purpose, if a firm has opted for the tailored route, it must adopt the following modifications to the sourcebook:333(1) (except in relation to sections 6 and 8 of any initial disclosure document3 or sections 5 and 8 of any combined initial disclosure document3) substitute an alternative description of the facility provided under the regulated mortgage contract for 'mortgage' where that term is used in any disclosure;33(2)
In gathering information under DTR 1.3.1 R, the FSA may contact the issuer, person discharging managerial responsibilities, connected person or their adviser directly. Telephone calls to and from the FSA may be recorded for regulatory purposes. The FSA may also require the issuer, person discharging managerial responsibilities, connected person or their advisers to provide information in writing.
- (1)
The FSA has identified four stages of an action for these purposes:
- (a)
the period from commencement of an investigation until the FSA has:
- (b)
the period from the end of stage 1 until the expiry of the period for making written representations or, if sooner, the date on which the written representations are sent in response to the giving of a warning notice ("stage 2");
- (c)
the period from the end of stage 2 until the giving of a decision notice ("stage 3");
- (d)
the period after the end of stage 3, including proceedings before the Tribunal and any subsequent appeals ("stage 4").
- (a)
- (2)
The communication of the FSA's assessment of the appropriate penalty for the purposes of DEPP 6.7.3G (1)(a) need not be in a prescribed form but will include an indication of the breaches alleged by the FSA. It may include the provision of a draft warning notice.
- (3)
The reductions in penalty will be as follows:
Stage at which agreement reached
Percentage reduction
Stage 1
30
Stage 2
20
Stage 3
10
Stage 4
0
The FSA may modify LR 2.2.4 R to allow partly paid securities to be listed if
it is satisfied that their transferability is not restricted and investors
have been provided with appropriate information to enable dealings in the securities to take place on an open and
proper basis. [Note: articles 46 and 54 CARD]
A firm may have entered into a mix of regulated mortgage contracts and non-regulated mortgage contracts with a customer secured on the same property. In such circumstances, if the regulated mortgage contract is in arrears, notwithstanding that the overall position in respect of the mortgages generally is not in arrears, the firm will need to comply with all the requirements of MCOB 13 in respect to the regulated mortgage contract. Where this involves providing the customer with
The Ombudsman may:(1) exclude evidence that would otherwise be admissible in a court of law or include evidence that would not be admissible in such a court;(2) where he considers it necessary or appropriate, accept information in confidence, so that only an edited version or (where this is not practicable) a summary or description is disclosed to the other party;(3) reach a decision on the basis of what has been supplied and take account of the failure by a complainant or a firm
If a consumer exercises the right to cancel he must, before the expiry of the relevant deadline, notify this following the practical instructions given to him. The deadline shall be deemed to have been observed if the notification, if on paper or another durable medium, is dispatched before the deadline expires.[Note: article 6(1) and (6) of the Distance Marketing Directive]
In determining whether a UK recognised body has made satisfactory arrangements for the safeguarding and administration of assets belonging to the users of its facilities, the FSA may have regard to: (1) the level of protection which the arrangements provide against the risk of theft or other types or causes of loss;(2) whether the arrangements ensure that assets are only used or transferred in accordance with the instructions of the owner of those assets or in accordance with
If a meeting of the listed company has been called to approve a transaction or arrangement and, after the date of the notice of meeting but before the meeting itself, a party to that transaction or arrangement has become a related party, then to comply with LR 11.1.7 R the listed company should:(1) ensure that the related party concerned does not vote on the relevant resolution and that the related party takes all reasonable steps to ensure that its associates do not vote on the
(1) Any directors of an ICVC other than the ACD must exercise reasonable care to ensure that the ACD undertakes the responsibilities allocated under COLL 6.6.3 R (1) (Functions of the authorised fund manager) in a competent manner and the ACD must give those directors the information and explanations they consider necessary for this purpose.(2) A director of an ICVC must not appoint an alternate director.(3) When there is no person acting as ACD, the directors of an ICVC have
In the case of OPS activity undertaken by an OPS firm, CASS applies with the following general modifications:(1) references to customer are to the OPS or welfare trust, whichever fits the case, in respect of which the OPS firm is acting or intends to act, and with or for the benefit of which the relevant activity is to be carried on; and(2) if an OPS firm is required by any rule in CASS to provide information to, or obtain consent from, a customer, that firm must ensure that the
(1) The authorised fund manager must make and retain for six years such records as enable:(a) the scheme and the authorised fund manager to comply with the rules in this sourcebook and the OEIC Regulations; and(b) it to demonstrate at any time that such compliance has been achieved.(2) The authorised fund manager must make and retain for six years a daily record of the units in the scheme held, acquired or disposed of by the authorised fund manager, including the classes of such
(1) If information compares relevant business, relevant investments, or persons who carry on relevant business, a firm must ensure that:(a) the comparison is meaningful and presented in a fair and balanced way; and(b) in relation to MiFID or equivalent third country business;(i) the sources of the information used for the comparison are specified; and(ii) the key facts and assumptions used to make the comparison are included.(2) In this rule, in relation to MiFID or equivalent