Related provisions for PERG 5.4.5

SUP 3.8.10G01/01/2005

Auditors are subject to regulations made by the Treasury under sections 342(5) and 343(5) of the Act (Information given by auditor or actuary to the FSA). These regulations oblige auditors to report certain matters to the FSA. Sections 342(3) and 343(3) of the Act provide that an auditor does not contravene any duty by giving information or expressing an opinion to the FSA, if he is acting in good faith and he reasonably believes that the information or opinion is relevant to

SUP 13.12.2G06/02/2007

To contact the Passport Notifications Unit, from which a standard form of notice of intention can be obtained:33(1) telephone on 020 7066 1000; fax on 020 7066 97983; or3(2) write to: The Passport Notifications Unit, The Financial Services Authority, 25 The North Colonnade, Canary Wharf, London E14 5HS; or(3) Email: passport.notifications@fsa.gov.uk

PERG 8.36.6G01/10/2005

Table Application of Exemptions to Forms of Promotions

Financial Promotion Order		Applies to
Article No.	Title and PERG 8 reference (where applicable)	Unsolicited real time	Solicited real time	Non-real time (solicited or unsolicited)
12	Communications to overseas recipients (8.12.2G)	*¹	*	*
13	Communications from customers and potential customers (8.12.9G)	*	*	*
14	Follow up non-real time communications and solicited real time communications (8.12.10G)		*	*
15	Introductions (8.12.11G)	*	*	*1
16	Exempt persons (8.12.12G)	*²	*³	*³
17	Generic promotions (8.12.14G and 8.21.4G)	*	*	*
17A1	Communications caused to be made or directed by unauthorised persons (8.6.7AG)	*	*	*
18	Mere conduits (8.12.18G)	*	*	*
18A	Outgoing electronic commerce communications: mere conduits, caching and hosting (8.12.18G)1	*	*	*
19	Investment professionals (8.12.21G and 8.21.5G)	*	*	*
20	Communications by journalists (8.12.23G)			*
20A	Promotion broadcast by company director etc (8.12.23G and 8.21.6G)	*	*	*
20B	Incoming electronic commerce communications (8.12.38G)	*	*	*
22	Deposits : non-real time communications (8.13)			*
23	Deposits : real time communications (8.13)	*	*
24	Relevant insurance activity : non-real time communications (8.13)			*
25	Relevant insurance activity : non-real time communications : reinsurance and large risks (8.13)			*
26	Relevant insurance activity : real time communications (8.13)	*	*
28	One-off non-real time communications and solicited real time communications (8.14.3G)		*	*
28A	One-off unsolicited real time communications (8.14.11G)	*
28B1	Real time communications: introductions in connection with qualifying credit (8.17.12G)	*	*
29	Communications required or authorised by enactments	*	*	*
30	Overseas communicators: solicited real time communications (8.14.15G)		*
31	Overseas communicators: non-real time communications to previously overseas customers (8.14.17G)			*
32	Overseas communicators: unsolicited real time communications to previously overseas customers (8.14.16G)	*
33	Overseas communicators: unsolicited real time communications to knowledgeable customers (8.14.16G)	*
34	Governments, central banks etc		*	*
35	Industrial and provident societies		*	*
36	Nationals of the EEA States other than United Kingdom (8.14.18G)		*	*
37	Financial markets		*	*
38	Persons in the business of placing promotional material	*	*	*
39	Joint enterprises (8.14.19G)	*	*	*
40	Participants in certain recognised collective investment schemes		*	*
41	Bearer instruments: promotions required or permitted by market rules (8.14.42G)		*	*
42	Bearer instruments: promotions to existing holders (8.14.42G)		*	*
43	Members and creditors of certain bodies corporate (8.14.41G and 8.21.8G)		*	*
44	Members and creditors of open-ended investment companies		*	*
45	Group companies	*	*	*
46	Qualifying credit to bodies corporate (8.17.10G)1	*	*	*
47	Persons in the business of disseminating information (8.21.10G)	*	*	*
48	Certified high net worth individuals (8.14.21G)		*	*
49	High net worth companies, unincorporated associations etc (8.14.25G)	*	*	*
50	Sophisticated investors (8.14.27G)	*	*	*
50A	Self-certified sophisticated investors {8.14.28AG)		*	*
51	Associations of high net worth or sophisticated investors (8.14.29G)		*	*
52	Common interest group of a company (8.14.30G)		*	*
53	Settlors, trustees and personal representatives	*	*	*
54	Beneficiaries of trust, will or intestacy	*	*	*
55	Communications by members of professions (8.15.1G)	*	*
55A	Non-real time communication by members of the professions. (8.15.5G)			*
56	Remedy following report by Parliamentary Commissioner for Administration	*	*	*
57	Persons placing promotional material in particular publications	*	*	*
58	Acquisition of interest in premises run by management companies		*	*
59	Annual accounts and directors' report (8.21.11G)	*	*	*
60	Participation in employee shares schemes	*	*	*
61	Sale of goods and supply of services		*	*
62	Sale of body corporate (8.14.35G)	*	*	*
64	Takeovers of relevant unlisted companies	*	*	*
65	Takeovers of relevant unlisted companies: warrants etc	*	*	*
66	Takeovers of relevant unlisted companies: application forms	*	*	*
67	Promotions required or permitted by market rules (8.21.13G)		*	*
68	Promotions in connection with admission to certain EEA markets (8.21.16G)		*	*
69	Promotions of securities already admitted to certain markets (8.21.17G)		*	*1
701	Promotions included in listing particulars etc (8.21.20G)1			*1
711	Material relating to prospectus for public offer of unlisted securities			*1
721	Pension products offered by employers (8.14.40A)	*	*	*
731	Advice centres (8.14.40B)	*	*	*


¹ in limited circumstances only – see article 12(2) of the Financial Promotion Order
² for the purpose of article 16 (2) only
³ for the purpose of article 16 (1) only1

SUP 12.8.5G14/01/2005

2The FSA has the power to remove from the Register an appointed representative, whose scope of appointment covers insurance mediation activities (see SUP 12.4.9 G and SUP 12.4.10 G).

MIPRU 2.3.1R06/01/2008

A firm3 must establish on reasonable grounds that:3(1) a reasonable proportion of the persons within its management structure who are responsible for insurance mediation activity; and(2) all other persons directly involved in its insurance mediation activity;demonstrate the knowledge and ability necessary for the performance of their duties; and(3) all the persons in its management structure and any staff directly involved in insurance mediation activity are of good repute.[Note:

COND 2.5.6G06/10/2007

In determining whether a firm will satisfy, and continue to satisfy, threshold condition 5 in respect of conducting its business with integrity and in compliance with proper standards, the relevant matters, as referred to in COND 2.5.4 G (2), may include but are not limited to whether:(1) the firm has been open and co-operative in all its dealings with the FSA and any other regulatory body (see Principle 11 (Relations with regulators)) and is ready, willing and organised to comply

PERG 1.4.2G01/11/2007

Table: list of general guidance to be found in PERG.

Chapter:	Applicable to:	About:
PERG 2: Authorisation and regulated activities	an unauthorised person wishing to find out whether he needs to be authorised or exempt an authorised person wishing to know whether he needs to vary hisPart IV permission	the regulatory scope of the Act the Regulated Activities Order the Exemption Order the Business Order
PERG 3: Issuing e-money	a person who needs to know whether a particular electronic payment product ise-money and whether the person issuing it needs to beauthorised under the Act whether any communications about the product will be restricted	the scope of theregulated activity of issuing e-money the application of the restriction in section 21 of the Act (Restrictions on financial promotion) to communications about e-money
PERG 4: Regulated activities connected with mortgages	any person who needs to know whether the activities he conducts in relation to mortgages are subject to FSA regulation. This is likely to include: lenders administration service providers mortgage brokers and advisers	the scope of relevant orders (in particular, the Regulated Activities Order) as respects activities concerned with mortgages
PERG 5: Insurance mediation activities	any person who needs to know whether he carries on insurance mediation activities and is, thereby, subject to FSA regulation. This is likely to include: insurance brokers insurance advisers insurance undertakings other persons involved in the sale or administration of contracts of insurance, where these activities are secondary to their main business.	the scope of relevant orders (in particular, the Regulated Activities Order) as respects activities concerned with the sale or administration of insurance
PERG 6: Identification of contracts of insurance	any person who needs to know whether a contract with which he is involved is a contract of insurance	the general principles and range of specific factors that the FSA regards as relevant in deciding whether any arrangement is a contract of insurance
PERG 7: Periodical publications, news services and broadcasts: application for certification	any person who needs to know whether he will be regulated for providing advice about investments through the medium of a periodical publication, a broadcast or a news service	the circumstances in which such persons will be carrying on the regulated activities of advising on investments or advising on regulated mortgage contracts (including where a request for a certificate may be appropriate) how theFSA will exercise its power to grant certificates
PERG 8: Financial promotion and related activities	any person who needs to know whether his communications are financial promotions or are subject to the restriction in section 21 of the Act or both whether his activities in making or helping others to make financial promotions are regulated activities.	the scope of the restriction on financial promotion under section 21 of the Act and the main exemptions provided the circumstances in which persons who are primarily involved in making or helping others to make financial promotions may themselves be conducting regulated activities requiring authorisation or exemption
PERG 9: Meaning of open-ended investment company	any person who needs to know whether a body corporate is an open-ended investment company as defined in section 236 of the Act (Open-ended investment companies) and is therefore a collective investment scheme.	the circumstances in which a body corporate will be an open-ended investment company
PERG 10: Activities related to pension schemes	Any person who needs to know whether his activities in relation to pension schemes will amount to regulated activities or whether the restriction in section 21 of the Act will apply to any financial promotions he may make.1 1	the regulated activities that arise in connection with the establishment and operation of pension schemes and any exclusions that may be relevant the circumstances in which financial promotions about pension schemes may be exempt from the restriction in section 21 of the Act 1
4PERG 11: Property investment clubs and land investment schemes	Any person who needs to know whether his activities in relation to property investment clubs and land investment schemes will amount to regulated activities or whether the restriction in section 21 of the Act will apply to any financial promotions he may make.	the regulated activities that may arise in connection with the establishment and operation of property investment clubs and land investment schemes and any exclusions that may be relevant the extent to which the financial promotion restriction in section 21 of the Act applies
2PERG 12: Running or advising on personal pension schemes	any person who needs to know whether his activities in relation to establishing, running, advising on or marketing personal pension schemes will amount to regulated activities	the regulated activities that arise in connection with establishing, running, advising on or marketing personal pension schemes and any exclusions that may be relevant
3PERG 13: Guidance on the scope of the Markets in Financial Instruments Directive and the recast Capital Adequacy Directive 5	Any UK person who needs to know whether MiFID or the recast CADas implemented in the UK apply to him5	the scope of MiFID and the recast CAD5
3PERG 14: Home reversion and home finance activities	Any person who needs to know whether his activities in relation to home reversion plans or home purchase plans will amount to regulated activities or whether the restriction in section 21 of the Act will apply to any financial promotions he may make.	the regulated activities that arise in connection with home reversion plansand home purchase plansand any exclusions that may be relevant the circumstances in which financial promotions about home reversion plansandhome purchase plansmay be made without breaching the restriction in section 21 of the Act

Chapter:

Applicable to:

About:

PERG 2:

Authorisation and regulated activities

an unauthorised person wishing to find out whether he needs to be authorised or exempt
an authorised person wishing to know whether he needs to vary hisPart IV permission

the regulatory scope of the Act
the Regulated Activities Order
the Exemption Order
the Business Order

PERG 3:

Issuing e-money

a person who needs to know

whether a particular electronic payment product ise-money and whether the person issuing it needs to beauthorised under the Act
whether any communications about the product will be restricted

the scope of theregulated activity of issuing e-money
the application of the restriction in section 21 of the Act (Restrictions on financial promotion) to communications about e-money

PERG 4:

Regulated activities connected with mortgages

any person who needs to know whether the activities he conducts in relation to mortgages are subject to FSA regulation. This is likely to include:

lenders
administration service providers
mortgage brokers and advisers

the scope of relevant orders (in particular, the Regulated Activities Order) as respects activities concerned with mortgages

PERG 5:

Insurance

mediation

activities

any person who needs to know whether he carries on insurance mediation activities and is, thereby, subject to FSA regulation. This is likely to include:

insurance brokers
insurance advisers
insurance undertakings
other persons involved in the sale or administration of contracts of insurance, where these activities are secondary to their main business.

the scope of relevant orders (in particular, the Regulated Activities Order) as respects activities concerned with the sale or administration of insurance

PERG 6:

Identification of contracts of insurance

any person who needs to know whether a contract with which he is involved is a contract of insurance

the general principles and range of specific factors that the FSA regards as relevant in deciding whether any arrangement is a contract of insurance

PERG 7:

Periodical publications, news services and broadcasts: application for certification

any person who needs to know whether he will be regulated for providing advice about investments through the medium of a periodical publication, a broadcast or a news service

the circumstances in which such persons will be carrying on the regulated activities of advising on investments or advising on regulated mortgage contracts (including where a request for a certificate may be appropriate)
how theFSA will exercise its power to grant certificates

PERG 8:

Financial promotion and related activities

any person who needs to know

whether his communications are financial promotions or are subject to the restriction in section 21 of the Act or both
whether his activities in making or helping others to make financial promotions are regulated activities.

the scope of the restriction on financial promotion under section 21 of the Act and the main exemptions provided
the circumstances in which persons who are primarily involved in making or helping others to make financial promotions may themselves be conducting regulated activities requiring authorisation or exemption

PERG 9:

Meaning of open-ended investment company

any person who needs to know whether a body corporate is an open-ended investment company as defined in section 236 of the Act (Open-ended investment companies) and is therefore a collective investment scheme.

the circumstances in which a body corporate will be an open-ended investment company

PERG 10:

Activities related to pension schemes

Any person who needs to know whether his activities in relation to pension schemes will amount to regulated activities or whether the restriction in section 21 of the Act will apply to any financial promotions he may make.1

1

the regulated activities that arise in connection with the establishment and operation of pension schemes and any exclusions that may be relevant
the circumstances in which financial promotions about pension schemes may be exempt from the restriction in section 21 of the Act 1

4PERG 11:

Property investment clubs and land investment schemes

Any person who needs to know whether his activities in relation to property investment clubs and land investment schemes will amount to regulated activities or whether the restriction in section 21 of the Act will apply to any financial promotions he may make.

the regulated activities that may arise in connection with the establishment and operation of property investment clubs and land investment schemes and any exclusions that may be relevant
the extent to which the financial promotion restriction in section 21 of the Act applies

2PERG 12:

Running or advising on personal pension schemes

any person who needs to know whether his activities in relation to establishing, running, advising on or marketing personal pension schemes will amount to regulated activities

the regulated activities that arise in connection with establishing, running, advising on or marketing personal pension schemes and any exclusions that may be relevant

3PERG 13:

Guidance on the scope of the Markets in Financial Instruments Directive and the recast Capital Adequacy Directive

5

Any UK person who needs to know whether MiFID or the recast CADas implemented in the UK apply to him5

the scope of MiFID and the recast CAD5

3PERG 14:

Home reversion and home finance activities

Any person who needs to know whether his activities in relation to home reversion plans or home purchase plans will amount to regulated activities or whether the restriction in section 21 of the Act will apply to any financial promotions he may make.

the regulated activities that arise in connection with home reversion plansand home purchase plansand any exclusions that may be relevant
the circumstances in which financial promotions about home reversion plansandhome purchase plansmay be made without breaching the restriction in section 21 of the Act

SUP 13.1.3G01/02/2006

This chapter does not apply to:(1) a firm established in an EEA State other than the United Kingdom; passporting by such a firm in or into the United Kingdom is a matter for its Home State regulator although guidance is given in 4SUP 13A4 (Qualifying for authorisation under the Act);(2) other overseas firms (that is, overseas firms established outside the EEA); such firms are not entitled to passport into another EEA State and, where relevant, may need to obtain authorisation

GEN 4.3.6R06/04/2007

(1) 1Where a firm has outsourced activities to a third party processor other than advising on life policies3, GEN 4.3.1 R does not apply to that third party processor when acting as such, so long as the outsourcing firm ensures that the third party processor and its employees comply with that rule as if it was the firm and they were employees of the firm.(2) Where an appointed representative has outsourced insurance mediation activities other than advising on life policies3

PERG 1.5.1G06/05/2006

General guidance on the perimeter is also contained in various FSA documents (mainly fact sheets and frequently asked questions) that are available on the FSA website at www.fsa.gov.uk.These documents, and the URL on which they may be accessed, include:(1) guidance about the position under the Insurance Mediation Directive and the Regulated Activities Order of group risk managers and co-participants in a joint enterprise - http://www.fsa.gov.uk/Pages/Doing/small_firms/insurance/library/archive/risk.shtml;11(2)

SUP App 3.6.15G01/07/2003

The FSA considers that, in order to comply with Principle 3:Management and control (see PRIN 2.1.1 R), a firm should have appropriate procedures to monitor the nature of the services provided to its customers. Where a UK firm has non-resident customers but has not notified the EEA State in which the customers are resident that it wishes to exercise its freedom to provide services, the FSA would expect the firm's systems to include appropriate controls. Such controls would include

COBS 20.2.5R01/11/2007

(1) Unless a firm cannot reasonably compare a maturity payment with a calculated asset share, it must:(a) set a target range for the maturity payments that it will make on:(i) all of its with-profits policies; or(ii) each group of its with-profits policies;(b) ensure that each target range:(i) is expressed as a percentage of unsmoothed asset share; and(ii) includes 100% of unsmoothed asset share; and(c) manage its with-profits business, and the business of each with-profit fund,

INSPRU 7.1.13G31/12/2006

Based upon this information and other information available to it, the FSA will consider whether the capital resources requirement applicable to the firm is appropriate. Where relevant, the firm'sECR will be a key input to the FSA's assessment of the adequacy of the firm'scapital resources. For firms carrying on general insurance business, the ECR is calculated in accordance with INSPRU 1.1.72C R. For realistic basis life firms, the ECR forms part of the CRR and is calculated

CASS 5.5.30R06/01/2008

(1) In relation to consumers5, a firm must, subject to (2), take reasonable steps to ensure that its terms of business or other client agreements4 adequately explain, and where necessary obtain a client's informed consent to, the treatment of interest and, if applicable, investment returns, derived from its holding of client money and any segregated designated investments.54(2) In respect of interest earned on client bank accounts, (1) does not apply if a firm has reasonable ground

Related provisions for PERG 5.4.5

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