Related provisions for PERG 6.7.11
441 - 460 of 675 items.
The Act prohibits any person from carrying on, or purporting to carry on, regulated activities in the United Kingdom unless that person is an authorised person or an exempt person. If an overseas investment exchange or overseas clearing house wishes to undertake regulated activities in the United Kingdom, it will need to:(1) obtain a Part IV permission from the FSA; (2) (in the case of an EEA firm or a Treaty firm) qualify for authorisation under Schedule 3 (EEA Passport Rights)
1An applicant for admission of certificates representing certain securities must submit a letter to the FSA setting out how it satisfies the requirements in LR 2 and LR 18.2 no later than when the first draft of a prospectus for the certificates is submitted, or if the FSA is not approving a prospectus, at a time agreed with the FSA.
In assessing whether a transaction is in the ordinary course of a company's business under this chapter, the FSA will have regard to the size and incidence of similar transactions which the company has entered into. The FSA may determine that a transaction is not in the ordinary course of business because of its size or incidence.
In
determining whether or not the particular conduct of an approved
person within his controlled function complies with the Statements of Principle, the following are
factors which, in the opinion of the FSA, are to be taken into account:(1) whether
that conduct relates to activities that are subject to other provisions of
the Handbook;(2) whether
that conduct is consistent with the requirements and standards of the regulatory system relevant to his firm.
(1) Principle 6 requires a firm to pay due regard to the interests of its customers and treat them fairly. A firm is also under an obligation, as a consequence of this sourcebook's disclosure requirements,1 to make charges transparent to customers. This chapter reinforces these requirements by preventing a firm from imposing unfair and excessive charges.1(2) The level of charges under a regulated mortgage contract,2home reversion plan1 or regulated sale and rent back agreement2
The purposes of SYSC are:(1) to encourage firms' directors and senior managers to take appropriate practical responsibility for their firms' arrangements on matters likely to be of interest to the FSA because they impinge on the FSA's functions under the Act;(2) to increase certainty by amplifying Principle 3, under which a firm must take reasonable care to organise and control its affairs responsibly and effectively, with adequate risk management systems;1(3) to encourage firms
The purpose of this chapter is
to implement Article 27 of MiFID,
which deals with the requirements on systematic
internalisersfor pre-trade transparency in shares, the execution of orders on behalf of clients and
standards and conditions for trading. It also provides a rule requiring investment firms to notify the
FSA
when they become, or cease to
be, a systematic internaliser,
and which gives effect to Article 21(4) of the MiFID
Regulation. The chapter
In the FSA's view, for a person to be carrying on the business of advising on investments or making arrangements with a view to transactions in investments, he will usually need to be carrying on those activities with a degree of regularity. The person will also usually need to be carrying on the activities for commercial purposes. That is to say, he will normally be expecting to gain a direct or indirect financial benefit of some kind. Activities carried on out of friendship
This guidance is issued under section 157 of the Act (Guidance). It represents the FSA's views and does not bind the courts. For example, it would not bind the courts in an action for damages brought by a private person for breach of a rule (see section 150 of the Act (Actions for damages)), or in relation to the enforceability of a contract where there has been a breach of sections 19 (The general prohibition) or 21 (Restrictions on financial promotion) of the Act (see sections