Related provisions for SUP 6.3.30

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PERG 5.9.1GRP
Under article 64 of the Regulated Activities Order (Agreeing to carry on specified kinds of activity), in addition to the regulated activities of:(1) dealing in investments as agent;(2) arranging (bringing about) deals in investments;(3) making arrangements with a view to transactions in investments;(4) assisting in the administration and performance of a contract of insurance; and(5) advising on investments;agreeing to do any of these things is itself a regulated activity. In
PERG 5.9.2GRP
To the extent that an exclusion applies in relation to a regulated activity, 'agreeing' to carry on an activity within the exclusion will not be a regulated activity. This is the effect of article 4(3) of the Regulated Activities Order (Specified activities: general). So, for example, a vet can, without carrying on a regulated activity, enter into an agreement with an insurance undertaking to distribute marketing literature provided that the vet can rely on the exclusion in article
PERG 7.1.1GRP
This chapter applies to anyone involved in publishing periodicals, or in providing news services or broadcasts, who gives (or proposes to give) advice about securities, relevant investments or home finance transactions1and who wishes to determine whether he will be carrying on the regulated activities of advising on investments or advising on a home finance transaction1.11
PERG 7.1.2GRP
The purpose of this chapter is to provide guidance as to:(1) when a person involved in publishing periodicals, or in providing news services or broadcasts, requires authorisation to carry on the regulated activities of advising on investments or advising on a home finance transaction1(see PERG 7.3 (Does the activity require authorisation));1(2) if he does, whether he qualifies for the exclusion from those activities that applies to a periodical publication, a regularly updated
SUP 13A.7.1GRP
If a person established in the EEA: (1) does not have an EEA right; (2) does not have permission as a UCITS qualifier; and(3) does not have, or does not wish to exercise, a Treaty right (see SUP 13A.3.4 G to SUP 13A.3.11 G);to carry on a particular regulated activity in the United Kingdom, it must seek Part IV permission from the FSA to do so (see the FSA website "How do I get authorised": http://www.fsa.gov.uk/Pages/Doing/how/index.shtml1). This might arise if the activity itself
SUP 13A.7.2GRP
Where the FSA grants a top-up permission to an incoming EEA firm to carry on regulated activities for which it has neither an EEA right nor a Treaty right, the FSA is responsible for the prudential supervision of the incoming EEA firm, to the extent that the responsibility is not reserved to the incoming EEA firm'sHome State regulator.
PERG 8.17A.1GRP
The application of section 21 of the Act and of exemptions in the Financial Promotion Order to invitations or inducements about insurance mediation activities will vary depending on the type of activity. The implementation of the Insurance Mediation Directive has not led to any changes in the definitions of a controlled investment or a controlled activity under the Financial Promotion Order. So:(1) rights under any contract of insurance are a controlled investment;(2) rights to
PERG 8.17A.2GRP
This means that an insurance intermediary will not be communicating a financial promotion:(1) where the only activity to which the promotion relates is assisting in the administration and performance of a contract of insurance; or(2) purely by reason of his inviting or inducing persons to make use of his advisory or arranging services where they relate only to general insurance contracts or pure protection contracts or both.But as regards (2), an intermediary will be communicating
GEN 4.1.1RRP
1This chapter applies to every firm and with respect to every regulated activity, except that:(1) for an incoming ECA provider, this chapter does not apply when the firm is acting as such;(2) for an incoming EEA firm which has permission only for cross-border services and which does not carry on regulated activities in the United Kingdom, this chapter does not apply;(3) for an incoming firm not falling under (1) or (2), this chapter does not apply to the extent that the firm is
GEN 4.1.3RRP
GEN 4.4 (Business for private customers from non-UK offices) applies in connection with a regulated activity carried on from an establishment of the firm (or its appointed representative) that is not in the United Kingdom.
PERG 8.33.4GRP
Of potentially greater significance is the exclusion in article 33 of the Regulated Activities Order which excludes arrangements where:(1) they are arrangements under which persons will be introduced to another person;(2) the person to whom introductions are to be made is:(a) an authorised person; or(b) an exempt person acting in the course of business comprising a regulated activity in relation to which he is exempt; or(c) a person who is not unlawfully carrying on regulated
PERG 8.33.7GRP
1The exclusion in article 29 will not apply to a person who is carrying on an arranging activity when he does so as a MiFID investment firm or a third country investment firm (see PERG 2.5.4 G to 2.5.5 G (Investment services and activities)).
PERG 5.3.7GRP
Article 72B of the Regulated Activities Order (Activities carried on by a provider of relevant goods or services) excludes from FSA regulation certain regulated activities carried on by providers of non-motor goods and services related to travel in relation to contracts of insurance that satisfy a number of conditions. Details about the scope of this exclusion can be found at PERG 5.11.13 G to PERG 5.11.15 G (Activities carried on by a provider of relevant goods or services)
PERG 5.3.9GRP
For an activity to be a regulated activity, it must be carried on in relation to 'specified investments' (see section 22 of the Act Regulated activities) and Part III of the Regulated Activities Order (Specified investments)). For the purposes of insurance mediation activity, specified investments include the following 'relevant investments' defined in article 3(1) of the Regulated Activities Order (Interpretation):(1) rights under any contract of insurance (see article 75 (Contracts
PERG 7.2.1GRP
Advice is excluded by article 54 of the Regulated Activities Order from the regulated activities of advising on investments and advising on a home finance transaction1if:1(1) the advice is given in a publication or service that is in one of three formats (see PERG 7.4.3 G and PERG 7.4.4 G); and(2) the principal purpose of the particular format is neither to give certain advice nor to lead to (or enable) certain transactions to be carried out (see PERG 7.4.5 G and PERG 7.4.10
PERG 7.2.2GRP
If a person would, but for the exclusion, be carrying on the regulated activities of advising on investments or advising on a home finance transaction1, or any or each of them1, and will be doing so as a business in the United Kingdom (see PERG 7.3), he may wish to apply to the FSA for a certificate that the exclusion applies (see PERG 7.6). However, a person does not need a certificate to get the benefit of the exclusion. In many cases it will be clear that the exclusion in article
SUP 7.2.2GRP
The circumstances in which the FSA may vary a firm'sPart IV permission on its own initiative under section 45 of the Act include where it appears to the FSA that:(1) one or more of the threshold conditions is or is likely to be no longer satisfied; or(2) it is desirable to vary a firm's permission in order to meet any of the FSA's regulatory objectives.33
CASS 5.1.1RRP
(1) CASS 5.1 to CASS 5.6 apply, subject to (2), (3) and CASS 5.1.3 R to CASS 5.1.6 R, to a firm that receives or holds money in the course of or in connection with its insurance mediation activity.(2) CASS 5.1 to CASS 5.6 do not, subject to (3), apply:(a) to a firm to the extent that it acts in accordance with the client money chapter; or64(b) to a firm in carrying on an insurance mediation activity which is in respect of a reinsurance contract; or(c) to an insurance undertaking
CASS 5.1.3RRP
An authorised professional firm regulated by The Law Society (of England and Wales), The Law Society of Scotland or The Law Society of Northern Ireland must comply withthe rules of its designated professional body as specified in CASS 5.1.4 R, in force on 14 January 2005, and if it does so, it will be deemed to comply with CASS 5.2 to CASS 5.6.
CASS 6.1.1AGRP
2The regulated activity of safeguarding and administering investments covers both the safeguarding and administration of assets (without arranging) andarranging safeguarding and administration of assets,5 when those assets are either safe custody investments or custody assets. A safe custody investment is, in summary, a designated investment which a firm receives or holds on behalf of a client. Custody assets include designated investments, and any other assets that the firm holds
CASS 6.1.1CGRP
2In accordance with article 42 of the Regulated Activities Order, a firm ("I") will not be arranging safeguarding and administration of assets if it introduces a client to another firm whose permitted activities include the safeguarding and administration of investments, or to an exempt person acting as such, with a view to that other firm or exempt person:(1) providing a safe custody service in the United Kingdom; or(2) arranging for the provision of a safe custody service in
PERG 8.25.2GRP
Article 53 does not apply to advice given on any of the following:(1) deposit or other bank or building society accounts (but note that providing basic advice on a stakeholder product including stakeholder deposit accounts is a separate regulated activity under article 52A of the Regulated Activities Order - see the guidance in PERG 2.7.14A G (Providing basic advice on stakeholder products));(2) interests under the trusts of an occupational pension scheme (but rights under an
PERG 5.4.1GRP
A person will only need authorisation or exemption if he is carrying on a regulated activity 'by way of business' (see section 22 of the Act (Regulated Activities)).
PERG 5.4.2GRP
There is power in the Act for the Treasury to specify the circumstances in which a person is or is not to be regarded as carrying on regulated activities by way of business. The Business Order has been made using this power (partly reflecting differences in the nature of the different activities). As such, the business test for insurance mediation activity is distinguished from the standard test for 'investment business' in article 3 of the Business Order. Under article 3(4) of
SUP 15.1.4RRP
This chapter:(1) applies with respect to the carrying on of both regulated activities and unregulated activities; and (2) takes into account any activity of other members of a group of which the firm is a member.
SUP 15.1.5GRP
Firms are reminded that, unless expressly stated otherwise, where a rule or guidance includes a reference to a firm this includes all UK and overseas branches and representative offices of that firm, whether or not those branches or offices carry on any regulated activities.44
SUP 12.8.1ARRP
(1) 4A firm other than a credit union must submit any notification under SUP 12.8.1 R (1) in the form set out in SUP 12 Annex 5 R, online at www.fsa.gov.uk using the FSA'sONAsystem.(2) A credit union must submit any notification under SUP 12.8.1 R (1) in the form set out in SUP 12 Annex 5 R and in the way set out in SUP 15.7.4 R to SUP 15.7.9 G (Form and method of notification).(3) Where a firm is obliged to submit a notification online under (1), if the FSA's information technology
SUP 12.8.3RRP
If a contract with an appointed representative is terminated, or if it is amended in a way which gives rise to a requirement to notify under SUP 12.8.1R, a firm must take all reasonable steps to ensure that:(1) if the termination is by the firm, the appointed representative is notified in writing before, or if not possible, immediately on, the termination of the contract and informed that it will no longer be an exempt person for the purpose of the Act because of the contract
FEES 6.5.3RRP
If a participant firm which is in default has carried on a regulated activity other than in accordance with a permission, the FSCS must allocateany compensation costs or specific costs arising out of that activity to the relevant sub-class4 which covers that activity or if a levy limit of the relevant sub-class or class has been exceeded, FSCS must allocate any compensation costs levy on the same basis as set out in FEES 6.5.2 R4.4
FEES 6.5.4RRP
If the relevant person in default is an appointed representative, the FSCS must allocateany compensation costs or specific costs arising out of a regulated activity for which his principal has not accepted responsibility to the relevant sub-class4 for that activity or if a levy limit of the relevant sub-class or class has been exceeded, FSCS must allocate any compensation costs levy on the same basis as set out in FEES 6.5.2 R.44
DISP 1.10.1RRP
Twice a year a firm must provide the FSA with a complete report concerning complaints received from eligible complainants. The report must be set out in the format in DISP 1 Annex 1.
FEES 5.9.3GRP
5Licensees will also continue to be liable for any case fees relating to chargeable cases closed by the Financial Ombudsman Service after they cease to be licensees. Licensees will be charged the standard case fee where the complaint was closed by the Financial Ombudsman Service before the end of the year in which they ceased to be licensees. The special case fee will apply to any complaint closed after the end of that year since the licensee will no longer be contributing to
REC 6.2.1GRP
(1) Overseas investment exchanges and overseas clearing houses which are considering whether to seek authorisation or recognition should first consider whether they will be carrying on regulated activities in the United Kingdom. Overseas investment exchangesand overseas clearing houses which do not carry on regulated activities in the United Kingdom need take no action.(2) Prospective applicants should discuss authorisation and recognition with the FSA before deciding whether
REC 6.2.4GRP
There is no standard application form for application for recognition as an overseas recognised body. An application should be made in accordance with any direction the FSA may make under section 287 (Application by an investment exchange) or section 288 (Application by a clearing house) of the Act and should include:(1) the information, evidence and explanatory material necessary to demonstrate to the FSA that the recognition requirements (set out in REC 6.3) will be met;(2)
PERG 8.36.2GRP
These tables list the activities that are controlled activities and the investments that are controlled investments under the Financial Promotion Order. It is referred to in PERG 8.7.2 G.
PERG 8.36.3GRP

Table Controlled activities

1.

Accepting deposits

2.

Effecting and carrying out contracts of insurance

3.

Dealing in securities and contractually based investments

4.

Arranging deals in investments

4A.4

Operating a multilateral trading facility4

5.

Managing investments

6.

Safeguarding and administering investments

7.

Advising on investments

8.

Advising on syndicate participation at Lloyd's

9.

Providing funeral plan contracts

10.

Providing qualifying credit

11.3

3

Arranging qualifying credit etc

12.3

3

Advising on qualifying credit etc

313.

Providing a home reversion plan

314.

Arranging a home reversion plan

315.

Advising on a home reversion plan

316.

Providing a home purchase plan

317.

Arranging a home purchase plan

318.

Advising on a home purchase plan

718A.

Providing a regulated sale and rent back agreement

718B.

Arranging a regulated sale and rent back agreement

718C.

Advising on a regulated sale and rent back agreement

19.3

3

Agreeing to do anything in 3 to 18C7 above

37