Related provisions for SUP 15.6.3
81 - 100 of 151 items.
(1) If the FSA considers that an issuer, a person discharging managerial responsibilities or a connected person has breached any of the disclosure rules it may, subject to the provisions of the Act, impose on that person a financial penalty or publish a statement censuring that person.(2) If the FSA considers that a former director was knowingly concerned in a breach by an issuer it may, subject to the provisions of the Act, impose on that person a financial penalty.
Section 87B(1) of the Act sets out when the FSA may authorise the omission of information from a prospectus:
(1) |
The [FSA] may authorise the omission from a prospectus of any information, the inclusion of which would otherwise be required, on the ground – |
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(a) |
that its disclosure would be contrary to the public interest; |
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(b) |
that its disclosure would be seriously detrimental to the issuer, provided that the omission would be unlikely to mislead the public with regard to any facts or circumstances which are essential for an informed assessment of the kind mentioned in section 87A(2); or |
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(c) |
that the information is only of minor importance for a specific offer to the public or admission to trading on a regulated market and unlikely to influence an informed assessment of the kind mentioned in section 87A(2). |
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A common platform firm must in particular
take the necessary steps to ensure that the following conditions are satisfied:(1) the service provider must have
the ability, capacity, and any authorisation required
by law to perform the outsourced functions,
services or activities reliably and professionally;(2) the service provider must carry
out the outsourced services
effectively, and to this end the firm must
establish methods for assessing the standard of performance of the service
provider;(3)
In assessing this threshold condition, factors which the FSA will take into consideration include, among other things, whether: (1) it is likely that the FSA will receive adequate information from the firm, and those persons with whom the firm has close links, to enable it to determine whether the firm is complying with the requirements and standards under the regulatory system and to identify and assess the impact on the regulatory objectives in section 2 of the Act (The FSA's
The FSA considers that it is important
for the proportions published in compliance with COBS 12.4.10 R (4) to be consistent and meaningful to the recipients of the research recommendations. Accordingly for
non-equity material, the relevant categories should be meaningful to the recipients
in terms of the course of action being recommended.
(1) There are certain additional disclosure requirements laid down by the Distance Marketing Directive that will have to be provided by a mortgage intermediary,6 a home purchase intermediary and a SRB intermediary64 to a consumer5 prior to the conclusion of a distance mortgage mediation contract,66 a distance home purchase mediation contract4 or a distance regulated sale and rent back mediation contract.6 The purpose of this section, MCOB 4.5, is to set out those additional requirements.
(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
If the final terms of the offer are not included in eitherthe base prospectus or a supplementary prospectus:(1) the final terms must be provided to investors and filed with the FSA, and made available to the public, in accordance with PR 3.2.4 R to PR 3.2.6 R the PD Regulation as soon as practicable after each offer is made and, if possible, before the offer begins;(2) the base prospectus must disclose the criteria and/or the conditions in accordance with which the above elements
(1) Principle 6 requires a firm to pay due regard to the interests of its customers and treat them fairly. A firm is also under an obligation, as a consequence of this sourcebook's disclosure requirements,1 to make charges transparent to customers. This chapter reinforces these requirements by preventing a firm from imposing unfair and excessive charges.1(2) The level of charges under a regulated mortgage contract,2home reversion plan1 or regulated sale and rent back agreement2
(1) In order to discharge its functions under the Act, the FSA needs timely and accurate information about firms. The provision of this information on a regular basis enables the FSA to build up over time a picture of firms' circumstances and behaviour.(2) Principle 11 requires a firm to deal with its regulators in an open and cooperative way, and to tell the FSA appropriately anythingof which the FSA would reasonably expect notice. The reporting requirements are part of the
Principles 3, 4 and (in so far as it relates to disclosing to the FSA) 11 (and this chapter) also:(1) apply with respect to the carrying on of unregulated activities (for Principle 3 this is only in a prudential context); and(2) take into account any activity of other members of a group of which the firm is a member.