Related provisions for SUP 9.4.3
181 - 200 of 347 items.
The 'assumption of risk' by the provider is an important descriptive feature of all contracts of insurance. The 'assumption of risk' has the meaning in (1) and (3), derived from the case law in (2) and (4) below. The application of the 'assumption of risk' concept is illustrated in PERG 6.7.2 G (Example 2: disaster recovery business).(1) Case law establishes that the provider's obligation under a contract of insurance is an enforceable obligation to respond (usually, by providing
1This chapter provides guidance in relation to business transfers.(1) SUP 18.2 applies to any firm or to anymember of Lloyd's proposing to transfer the whole or part of its business by an insurance business transfer scheme or to accept such a transfer. SUP 18.2.31 G to SUP 18.2.41 G also applyto the independent expert making the scheme report.(2) SUP 18.3 applies to any firm proposing to accept certain transfers of insurance business taking place outside the United Kingdom.(3)
In general terms, simply giving information, without making any comment or value judgement on its relevance to decisions which a person may make, is not advice. In this respect, it is irrelevant that a person may be providing information on a single contract of insurance or on two or more. This means that a person may provide information on a single contract of insurance without necessarily being regarded as giving advice on it. PERG 5.8.11 G has guidance on the circumstances
A firm and its controllers are required to notify certain changes in control (see7SUP 11 (Controllers and close links)). The purpose of the rules and guidance in this section is:7(1) to ensure that, in addition to such notifications, the FSA receives regular and comprehensive information about the identities of all of the controllers of a firm, which is relevant to a firm's continuing to satisfy the threshold conditions (see COND 2.3); 8(2) to implement certain requirements relating
(1) The amount payable by each firm will depend upon the category (or categories) of regulated activities or payment services7it is engaged in (fee-blocks)and whether it is issuing electronic money,10 and on the amount of business it conducts in each category (tariff base). The fee-blocks and tariffs are identified in in respect of the FCA and in respect of the PRAFEES 4 Annex 1 (and guidance on calculating certain of the tariffs is at FEES 4 Annex 12 G and ) ,8 while FEES
The effect of the IMD is that any EEA-based insurance intermediaries doing business within the Directive’s scope4 must first be registered in their home EEA State before carrying on insurance mediation in that EEA State or other EEA States. For these purposes, an EEA-based insurance intermediary is either:(1) a legal person with its registered office or head office in an EEA State other than the United Kingdom; or(2) a natural person resident in an EEA State other than the United
The FSA's policy on individual guidance is set out in SUP 9. Firms should in particular note the policy on what the FSA considers to be a reasonable request for guidance (see SUP 9.2.5 G). For example, where a firm is seeking guidance on a proposed remuneration structure the FSA will expect the firm to provide a detailed analysis of how the structure complies with the Remuneration Code, including the general requirement for remuneration policies, procedures and practices to be
(1) The definition of group of connected clients is set out in the Glossary. Paragraph (2) of that definition is "two or more persons ... who are to be regarded as constituting a single risk because they are so interconnected that, if one of them were to experience financial problems, the other or all of the others would be likely to encounter repayment difficulties".(2) Say that a firm has exposures to A and B. When deciding whether A and B come within paragraph (2) of the definition
Article 25(1) applies only where the arrangements bring about or would bring about the particular transaction in question. This is because of the exclusion in article 26. In the FSA's view, a person brings about or would bring about a transaction only if his involvement in the chain of events leading to the transaction is of enough importance that without that involvement it would not take place. The second limb (article 25(2)) is potentially much wider as it does not require
(1) The FSA may increase or decrease the amount of the financial penalty arrived at after Step 2, but not including any amount to be disgorged as set out in Step 1, to take into account factors which aggravate or mitigate the breach. Any such adjustments will be made by way of a percentage adjustment to the figure determined at Step 2.(2) The following list of factors may have the effect of aggravating or mitigating the breach:(a) the conduct of the individual in bringing (or
1This chapter contains:2(1) guidance for firms, authorised payment institutions and authorised electronic money institutions8 and their 7appointed representatives, agents7or tied agents5on the circumstances in which the FSA permits them 7to reproduce the FSA logo;2887(2) rules on the use by firms of the Key facts logo.2
An issuer and
its advisers are best placed to make an initial assessment of whether particular
information amounts to inside information.
The decision as to whether a piece of information is inside
information may be finely balanced and the issuer (with
the help of its advisers) will need to exercise its judgement.Note:DTR 2.7 provides additional guidance
on dealing with market rumour.
The tables provide a general indication of the investments and activities specified in the Regulated Activities Order that may correspond to categories provided for in the Banking Consolidation Directive, 1MiFID3, the UCITS Directive or the Insurance Mediation Directive1. The tables do not provide definitive guidance as to whether a firm is carrying on an activity that is capable of being passported, nor do the tables take account of exceptions that remove the effect of articles.