Related provisions for INSPRU 1.5.4
201 - 220 of 404 items.
A person will only be an EEA firm or a Treaty firm if it has its head office in an EEA State other than the United Kingdom. EEA firms and Treaty firms are entitled to exercise both the right of establishment and the freedom to provide services under the Treaty. The difference, however, is that an EEA firm has a right to passport under a Single Market Directive, whereas a Treaty firm carries on activities for which the right to carry on those activities does1 not fall within the
Where, because of the occurrence of any event or circumstances, a UK recognised body is unable to discharge any regulatory function, it must immediately give the FSA notice of its inability to discharge that function, and inform the FSA:(1) what event or circumstance has caused it to become unable to do so; (2) which of its regulatory functions it is unable to discharge; and(3) what action, if any, it is taking or proposes to take to deal with the situation and, in particular,
Where a UK recognised body's complaints investigator has investigated a complaint arising in connection with the performance of, or failure to perform, any of its regulatory functions, and that complaints investigator has made a recommendation in respect of that complaint that the UK recognised body should:(1) make a compensatory payment to any person; or(2) remedy the matter which was the subject of that complaint;the UK recognised body must immediately notify the FSA of that
If an issuer is required to notify information to a RIS at a time when a RIS is not open for business, it must distribute the information as soon as possible to:(1) not less than two national newspapers in the United Kingdom;(2) two newswire services operating in the United Kingdom; and(3) a RIS for release as soon as it opens.
(1) 1This rule applies to a state, a regional or local authority and a public international body with listeddebt securities for whom the United Kingdom is its home Member State for the purposes of the Transparency Directive.(2) An issuer referred to in paragraph (1) that is not already required to comply with the transparency rules must comply with:(a) DTR 5.6.3 R (disclosure of changes in rights);(b) DTR 6.1.2 R (amendments to constitution);(c) DTR 6.1.3 R (2) (equality of treatment);(d)
Where a UK recognised body decides to put a member into default, it must immediately give notice of that event, and give the following information to the FSA, at the same time as that decision is communicated to that member or to any other member (or group or class of them) of that body: (1) the name of the member and (where relevant) the class of membership; (2) the reasons for that decision; and(3) the names of any other exchange,1clearing house or auction platform 1on which,
Where a UK recognised body has evidence tending to suggest that any person has:(1) been carrying on any regulated activity in the United Kingdom in contravention of the general prohibition; or(2) been engaged in market abuse; or(3) committed a criminal offence under the Act or subordinate legislation made under the Act; or(4) committed a criminal offence under Part V of the Criminal Justice Act 1993 (Insider dealing); or(5) committed a criminal offence under the Money Laundering
(1) 1The units of an EEA UCITS scheme in respect of which a notification has been transmitted to the FSA by the competent authority of the UCITS Home State in accordance with article 93 of the UCITS Directive may be marketed in the United Kingdom. This is the effect of section 264 (Schemes constituted in other EEA States) read in conjunction with section 238(4)(c) (Restrictions on promotion) of the Act.(2) Where a management company wishes to market the units of an EEA UCITS scheme
FIT applies to:(1) a firm;(2) an applicant for Part IV permission;(3) and EEA firm, a Treaty firm or a UCITS qualifier that wishes to establish a branch into the United Kingdom using EEA rights, Treaty rights or UCITS directive rights (see SUP 10.1.12 G and SUP 10.1.13 R ), or apply for a top-up permission (see SUP 10.1.14 R);(4) an approved person; and(5) a candidate.
On:(1) the presentation of a petition for the winding up of a UK recognised body (or the commencement of any similar or analogous proceedings under the law of a jurisdiction outside the United Kingdom); or(2) the appointment of a receiver, administrator, liquidator, trustee or sequestrator of assets of that body (or of any similar or analogous appointment under the laws of a jurisdiction outside the United Kingdom); or(3) the making of a voluntary arrangement by that body with
1When a UK RIE becomes aware of a transfer of ownership of the UK RIE which gives rise to a change in the persons who are in a position to exercise significant influence over the management of the UK RIE or (in the case of a UK RIE that is also an RAP) over the management of the RAP,2 whether directly or indirectly, it must immediately notify the FSA of that event, and: (1) give the name of the person(s) concerned; and(2) give details of the transfer.[Note: Article 38(2)(b) of
In relation to a firm, intra-group exposures that are exempt under a non-core large exposures group waiver may be excluded when calculating the limits in BIPRU 10.5 (Limits on exposures) that apply to the UK consolidation group or non-EEA sub-group, provided that the total amount of such exposures and the other exposures which are exempt under a non-core large exposures group waiver do not exceed the limit in BIPRU 10.9A.7 R (Non-trading book backstop large exposure limit for
For further information on UK regulation, an EEA firm, a Treaty firm or a UCITS qualifier should contact the Perimeter Guidance team at the FSA. Questions about the passporting notification procedures can be addressed to the Passport Notifications Unit.(1) To contact the Perimeter Guidance team:(a) telephone on +44 20 7066 0082 or fax on +44 20 7066 9719;(b) write to: Perimeter Guidance team, The Financial Services Authority, 25 The North Colonnade, Canary Wharf, London E14 5HS.(2)
1A UK RIE and an RAP2must immediately notify the FSA of:(1) significant breaches of its rules; or(2) disorderly trading conditions on any of its markets or auctions.2[Note: Article 26(2), first sentence (part) and Article 43(2), first sentence (part) of MiFID. The rest of Article 26(2), first sentence (in so far as it relates to market operators operating an MTF) and Article 43(2), first sentence of MiFID is implemented by REC 3.21.1 R (2)]
The FSA has similar powers to supervise overseas recognised bodies to those it has to supervise UK recognised bodies. It may (in addition to any other powers it might exercise):(1) give directions to an overseas recognised body under section 296 of the Act (Authority's power to give directions) if it has failed, or is likely to fail, to satisfy the recognition requirements or if it has failed to comply with any other obligation imposed by or under the Act; or(2) revoke a recognition