Related provisions for BIPRU 5.1.1

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SUP 13A.9.5GRP
(1) The purpose of the precautionary measure rule is to ensure that an incoming EEA firm is subject to the standards of MiFID and the MiFID implementing Directive to the extent that the Home State has not transposed MiFID or the MiFID implementing Directive by 1 November 2007. It is to 'fill a gap'.(2) The rule is made in the light of the duty of the United Kingdom under Article 62 of MiFID to adopt precautionary measures to protect investors. (3) The rule will be effective for
BIPRU 4.1.1RRP
1BIPRU 4 applies to a firm with an IRB permission.
SUP 3.10.5RRP

Client assets report

111

Whether in the auditor's opinion

(1)

the firm has maintained systems adequate to enable it to comply with the custody rules, the collateral rules and the client money rules3 (except CASS 5.2)13 throughout the period since the last date as at which a report was made;

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(2)

the firm was in compliance with the custody rules, the collateral rules and the client money rules3 (except CASS 5.2),13 at the date as at which the report has been made;

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(3)

in the case of an investment management firm, personal investment firm, a UCITS firm,2securities and futures firm or BIPRU investment firm,2 when a subsidiary of the firm is a nominee company in whose name custody assets of the firm are registered that nominee company has maintained throughout the year systems for the custody, identification and control of custody assets which:

22

(a)

are adequate; and

(b)

include reconciliations at appropriate intervals between the records maintained (whether by the firm or the nominee company) and statements or confirmations from custodians or from the person who maintains the record of legal entitlement; and

(4)

if there has been a secondary pooling event during the period, the firm has 1complied with the rulesCASS 4.4,3CASS 5.6 and CASS 7.93 (Client money distribution)1 in relation to that pooling event.

3
SUP 9.3.2GRP
The FSA may give individual guidance to a firm on its own initiative if it considers it appropriate to do so. For example:(1) the FSA may consider that general guidance in the Handbook does not appropriately fit a firm's particular circumstances (which may be permanent or temporary) and therefore decide to give additional individual guidance to the firm;(2) some of the FSA's requirements are expressed in general terms; however, there may be times when the FSA will wish to respond
BIPRU 9.1.1RRP
1BIPRU 9.1 applies to a BIPRU firm.
BIPRU 1.2.1RRP
This section applies to a BIPRU firm.