Related provisions for MCOB 13.3.4C

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LR 20.5.1RRP
An issuer must submit to the FSA two copies of any document required by LR 20.5.2 R to LR 20.5.3 R at the same time as the document is issued.
LR 20.5.4RRP
An issuer must inform the FSA immediately if it becomes aware that any security over which the listedmiscellaneous security carries a right to buy or subscribe that is listed or traded outside the United Kingdom has been suspended.
SUP 9.4.1GRP
If a person acts in accordance with current individual written guidance given to him by the FSA in the circumstances contemplated by that guidance, then the FSA will proceed on the footing that the person has complied with the aspects of the rule or other requirement to which the guidance relates.
SUP 9.4.4GRP
Rights conferred on third parties (such as a firm'sclients) cannot be affected by guidance given by the FSA. Guidance on rules, the Act or other legislation represents the FSA's view, and does not bind the courts, for example in relation to an action for damages brought by a private person for breach of a rule (section 150 of the Act (Actions for damages)) or in relation to enforceability of a contract if the general prohibition is breached (sections 26 and 27 of the Act (Enforceability
MAR 6.4.1RRP
An investment firm, which is authorised by the FSA , must promptly notify the FSA in writing of its status as a systematic internaliser in respect of shares admitted to trading on a regulated market:(1) when it gains that status; or(2) if it ceases to have that status.[Note:Article 21(4) of the MiFID Regulation]
MAR 6.4.2GRP
The notification under MAR 6.4.1 R can be addressed to the firm's usual supervisory contact at the FSA .
MAR 5.6.1RRP
1A firm operating an MTF must:(1) report to the FSA:(a) significant breaches of the firm's rules;(b) disorderly trading conditions; and(c) conduct that may involve market abuse; (2) supply the information required under this rule without delay to the FSA and any other authority competent for the investigation and prosecution of market abuse; and (3) provide full assistance to the FSA, and any other authority competent for the investigation and prosecution of market abuse, in
SYSC 13.4.1GRP
Under Principle 11 and SUP 15.3.1 R, a firm must notify the FSA immediately of any operational risk matter of which the FSA would reasonably expect notice. SUP 15.3.8 G provides guidance on the occurrences that this requirement covers, which include a significant failure in systems and controls and a significant operational loss.
SYSC 13.4.2GRP
Regarding operational risk, matters of which the FSA would expect notice under Principle 11 include:(1) any significant operational exposures that a firm has identified;(2) the firm's invocation of a business continuity plan; and(3) any other significant change to a firm's organisation, infrastructure or business operating environment.
REC 3.24.1RRP
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
REC 3.24.2GRP
The FSA may regard a person who falls within any of the cases in section 301(B)(2) of the Act as being in a position to exercise significant influence.
PERG 6.4.1GRP
Although what appears below is the FSA's approach, it cannot state what the law is, as that is a matter for the courts. Accordingly, this guidance is not a substitute for adequate legal advice on any transaction.
PERG 6.4.3GRP
The FSA will consider each case on its facts and on its merits.
REC 3.5.1RRP
Where any key individual of a UK recognised body:(1) is the subject of any disciplinary action because of concerns about his alleged misconduct; (2) resigns as a result of an investigation into his alleged misconduct; or(3) is dismissed for misconduct;that body must immediately give the FSA notice of that event, and give the information specified for the purposes of this rule in REC 3.5.2 R.
REC 3.5.3RRP
Where a UK recognised body becomes aware that any of the following events has occurred in relation to a key individual, it must immediately give the FSA notice of that event:(1) a petition for bankruptcy is presented (or similar or analogous proceedings under the law of a jurisdiction outside the United Kingdom are commenced) against that key individual; or(2) a bankruptcy order (or a similar or analogous order under the law of a jurisdiction outside the United Kingdom) is made
SUP 8.7.1GRP
Once the FSA has given a waiver, it may vary it with the firm's consent, or on the firm's application. If a firm wishes the FSA to vary a waiver, it should follow the procedures in SUP 8.3.3 D, giving reasons for the application. In a case where a waiver has been given to a number of firms (see SUP 8.3.10 G), if the FSAwishes to vary such waivers with the consent of those firms, it will follow the procedures in SUP 8.3.10 G.
SUP 8.7.2GRP
If the waiver that has been varied has previously been published, the FSA will publish the variation unless it is satisfied that it is inappropriate or unnecessary to do so, having regard to any representation made by the firm.
DTR 1.5.1GRP
FEES 4 sets out the fees payable by an issuer to the FSA.11
DTR 1.5.3GRP
(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.
DEPP 4.2.1GRP
If FSA staff recommend that action be taken and they consider that the decision falls within the responsibility of a senior staff committee:(1) in general the FSA staff's recommendation will go before the senior staff committee;(2) in urgent statutory notice cases for which a senior staff committee is responsible, the decision to give the statutory notice may be taken by the chairman or, if he is unavailable, a deputy chairman of the senior staff committee, and, if it is practicable,
DEPP 4.2.2GRP
In the circumstances described in DEPP 4.2.1 G (4) the FSA considers that it may be necessary for an FSA director of division or member of a senior staff committee to take the decision to give a supervisory notice even if he has been involved in establishing the evidence on which the decision is based, as permitted by section 395(3) of the Act. Where practicable, however, FSA staff will seek to ensure that the FSA director or committee member has not been so involved.
REC 3.12.1RRP
If any civil or criminal legal proceedings are instituted against a UK recognised body, it must, unless REC 3.12.2 R applies, immediately give notice of that event and give the following information to the FSA:(1) in the case of civil proceedings, the name of the claimant, particulars of the claim, the amount of damages and any other remedy sought by the claimant, and particulars of any allegation that any act or omission of that body was in bad faith; and(2) in the case of criminal
REC 3.12.2RRP
A UK recognised body is not required to give notice of civil legal proceedings or information about them to the FSA under REC 3.12.1 R, where:(1) the amount of damages claimed would not significantly affect that UK recognised body's financial resources, if the claim were successful;(2) the claim would not have a significant adverse effect on the reputation and standing of that body, if that claim were successful; and (3) the claim does not relate to that body's regulatory fun
LR 16.3.2GRP
The FSA will admit to listing such number of securities as the applicant may request for the purpose of future issues. At the time of issue the securities will be designated to the relevant class.
LR 16.3.6RRP
An applicant which is a multi-class or umbrella fund which seeks to create a new class of security without increasing its share capital for which listing has previously been granted, must provide the FSA with the details of the new class and no further application for listing is required.
DTR 1.2.4GRP

An issuer, person discharging managerial responsibilities or connected person should consult with the FSA at the earliest possible stage if they:

  1. (1)

    are in doubt about how the disclosure rules apply in a particular situation; or

  2. (2)

    consider that it may be necessary for the FSA to dispense with or modify a disclosure rule.

    Address for correspondence

    Note: The FSA's address for correspondence in relation to the disclosure rules is:

    Company Monitoring Team

    Markets Division

    The Financial Services Authority

    25 The North Colonnade

    Canary Wharf

    London E14 5HS

    Fax: 020 7066 8368
REC 6.8.1GRP
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
REC 6.8.2GRP
The FSA will follow the approach in REC 4.6, REC 4.7 and REC 4.8 if it is considering exercising these powers in relation to an overseas recognised body.
MCOB 2.8.2RRP
The records required in MCOB must be readily accessible for inspection by the FSA.
MCOB 2.8.4GRP
(1) A firm may arrange for records to be kept in such form as it chooses, provided the record is readily accessible for inspection by the FSA.(2) Where a firm chooses to maintain records in electronic form, it should take reasonable steps to ensure that:(a) the electronic record accurately reflects the original information; and (b) the electronic record has not been subject to unauthorised or accidental alteration.
DEPP 3.4.3GRP
In an exceptionally urgent case the decision to give a supervisory notice may be taken by a member of the FSA's executive of at least director of division level if:(1) FSA staff consider that the action should be taken before a recommendation to the Chairman or a Deputy Chairman of the RDC can be made; and(2) an urgent decision on the proposed action is necessary to protect the interests of consumers.
DEPP 3.4.4GRP
In the circumstances described in DEPP 3.4.3 G, the FSA considers that it may be necessary for an FSA director of division to take the decision to give the supervisory notice even if he has been involved in establishing the evidence on which the decision is based, as permitted by section 395(3) of the Act. Where practicable, however, FSA staff will seek to ensure that the FSA director has not been so involved.
SUP App 2.8.1RRP
If a firm decides to cease to effect new contracts of insurance, it must, within 28 days of that decision, submit a run-off plan to the FSA including: (1) a scheme of operations; and (2) an explanation of how, or to what extent, all liabilities to policyholders (including, where relevant, liabilities which arise from the regulatory duty to treat customers fairly in setting discretionary benefits) will be met in full as they fall due.
SUP App 2.8.4GRP
Under Principle 11, the FSA normally expects to be notified by a firm when it decides to cease effecting new contracts of insurance in respect of one or more classes of contract of insurance (see SUP 15.3.8 G). At the same time, the FSA would normally expect the firm to discuss with it the need for the firm to apply to vary its permission (see SUP 6.2.6 G and SUP 6.2.7 G) and, if appropriate, to submit a scheme of operations in accordance with SUP App 2.8.1 R.
PR 2.5.2UKRP

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 –

(a)

that its disclosure would be contrary to the public interest;

(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

(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).
PR 2.5.3RRP
A request to the FSA to authorise the omission of specific information must:(1) be in writing from the applicant;(2) identify the specific information concerned and the specific reasons for its omission; and(3) state why in the applicant's opinion one or more of the grounds in section 87B(1) of the Act applies.
DEPP 1.1.1GRP
1This manual (DEPP) is relevant to firms, approved persons and other persons, whether or not they are regulated by the FSA. It sets out:(1) the FSA's decision-making procedure for giving statutory notices. These are warning notices, decision notices and supervisory notices (DEPP 1.2 to DEPP 5);(2) the FSA's policy with respect to the imposition and amount of penalties under the Act (see DEPP 6);(2A) 2the FSA's policy with respect to the imposition of suspensions or restrictions,
DEPP 1.1.2GRP
The purpose of DEPP is to satisfy the requirements of sections 63C(1),2 69(1), 93(1), 124(1), 131J(1),2 169(9),3 210(1) and 395 of the Act that the FSA publish the statements of procedure or policy referred to in DEPP 1.1.1 G.