Related provisions for MCOB 9.4.138
161 - 180 of 224 items.
The criteria for determining whether it is appropriate to issue a public censure rather than impose a financial penalty include those factors that the FSA will consider in1 determining the amount of penalty set out in DEPP 6.5 A to DEPP 6.5 D.1 Some particular considerations that may be relevant when the FSA determines whether to issue a public censure rather than impose a financial penalty are:1(1) whether or not deterrence may be effectively achieved by issuing a public censure;(2)
Subject to the exemption for certain third country issuers (DTR 5.11.6 R), a person must notify the issuer of the percentage of its voting rights he holds as shareholder or holds or is deemed to hold 5through his direct or indirect holding of financial instruments falling within 2DTR 5.3.1R (1) , subject to the exemption in DTR 5.3.1R(2),58 and DTR 5.3.1R (2A), (or a combination of such holdings) if the percentage of those voting rights2:22(1) reaches, exceeds or falls below 3%,
The following are examples of
behaviour
which may amount to
market abuse (dissemination):(1) a person posts information on an Internet bulletin board or chat room which contains false or misleading statements about the takeover of a company whose shares are
qualifying investments
and the person knows that the information is false or misleading;(2) a person responsible for the content of information submitted to a regulatory
DISP 1.3.3 R requires the firm to put in place appropriate management controls and take reasonable steps to ensure that in handling complaints it identifies and remedies any recurring or systemic problems. If a firm receives complaints about its sales of payment protection contracts it should analyse the root causes of those complaints including, but not limited to, the consideration of:(1) the concerns raised by complainants (both at the time of the sale and subsequently);(2)
(Subject to MCOB 7.7.5 R) a firm that enters into a regulated mortgage contract with a customer must provide the customer with the following information before the customer makes the first payment under that regulated mortgage contract:1(1) the amount of the first payment required;(2) the amount of the subsequent payment(s) if different from the first payment;(3) the method by which the payment will be collected (for example, by direct debit) and the date of collection of the
1The table below sets out the period within which a firm's tariff base is calculated (the data period) for second year levies calculated under FEES 5.8.2R. The example is based on a firm that acquires permission on 1 November 2009and has a financial year ending 31 March. Where valuation dates fall before the firm receives permission it should use projected valuations in calculating its levies.
References in this table to dates or months are references to the latest one occurring before the start of the FSA's financial year unless otherwise stated.
Type of permission acquired on 1 November |
Tariff base |
Valuation date but for FEES 5.8.2R |
Data period under FEES 5.8.2R |
Insurers - general |
Relevant annual gross premium income |
31 March 2009- so projected valuations will be used |
1 November to 31 December 2009. |
Fund managers (including those holding client money/assets and not holding client money/assets |
Relevant funds under management |
Valued at 31 December |
Valued at 31 December |
Advisory arrangers, dealers or brokers holding and controlling client money and/or assets |
Number of relevant persons approved to perform the customer function with certain exclusions |
Relevant approved persons as at 31 December |
Relevant approved persons as at 31 December |
The maximum period between dealing days for a qualified investor scheme will depend on the reasonable expectations of the target investor group and the particular investment objectives and policy of the scheme. For instance, for a scheme aiming to invest in large property developments, the expectation would be that it is reasonable to have a much longer period between dealing days for liquidity reasons than for a scheme investing predominantly in listed securities.
If a firm ceases to be a participant firm part way through a financial year of the compensation scheme:(1) it will remain liable for any unpaid levies which the FSCS has already made on the firm;1(2) the FSCS may make a levy upon it (which may be before or after the firmhas ceased to be a participant firm, but must be before it ceases to be an authorised person) for the costs which it would have been liable to pay had the FSCS made a levy on all participant firms at the time
(1) A
firm which holds client money can discharge its obligation
to ensure adequate protection for its clients in
respect of such money by complying
with CASS
5.3 which provides for such money to
be held by the firm on the terms
of a trust imposed by the rules.(2) The
trust imposed by CASS
5.3 is limited to a trust in respect of client money which a firm receives
and holds. The consequential and supplementary requirements in CASS
5.5 are
designed to secure the proper segregation
(1) A firm must not agree to:(a) deal in investments as agent for an insurance undertaking in connection with insurance mediation; or(b) act
as agent for an insurance undertaking for
the purpose of settling claims or handling premium refunds;
or(c) otherwise
receive money as agent of an insurance undertaking;unless:(d) it
has entered into a written agreement with the insurance
undertaking to that effect; and(e) it
is satisfied on reasonable grounds that the terms of the policies
The following events are examples of events likely to affect an assessment of whether an overseas recognised body is continuing to satisfy the recognition requirements, or to have an effect on competition:(1) significant changes to any relevant law or regulation in its home territory, including laws or regulations:(a) governing exchanges or clearing houses;(b) designed to prevent insider dealing, market manipulation or other forms of market abuse or misconduct;(c) designed to
Specified investments (other than securities or options in relation to securities) falling within the same article in Part III of the Regulated Activities Order will normally be regarded as being assets of the same type. Securities falling within the same article in Part III of the Regulated Activities Order which may be given the same generic description (for example, shares admitted to the UK official list) will normally be regarded as being of the same type. Options in relation
(1) An issuer that has the listing of any of its securities suspended may request the FSA to have them restored.(2) The request should be made sufficiently in advance of the time and date the issuer wishes the securities to be restored.(3) Requests received for when the market opens should allow sufficient time for the FSA to deal with the request.(4) The request may be an oral request. The FSA may require documentary evidence that the events that lead to the suspension are no
The format of a statement of demands and needs is flexible. Examples of approaches that may be appropriate where a personal recommendation has not been given include:(1) providing a demands and needs statement as part of an application form, so that the demands and needs statement is made dependent upon the customer providing personal information on the application form. For instance, the application form might include a statement along the lines of: "If you answer 'yes' to questions
This calculation method is the same (with the exception of MCOB 10.3.8 R(1) and (2)) as that described in the Consumer Credit (Total Charge for Credit) Regulations 1980 (SI 1980/51) as amended. Because of this, some of the terminology is different from that used elsewhere in MCOB, e.g. the references to 'transactions' should be read as relating to secured lending. As a guide for firms, MCOB 10 Annex 1 G lists the substantively identical provisions in MCOB 10 and the 1980 Regu