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MIPRU 4.2.17ERP
(1) When seeking to rely on the second condition, a firm should not provide material credit enhancement in respect of the loan or plan1 unless it deducts the amount of the credit enhancement from its capital resources before meeting its capital resources requirement.(2) Credit enhancement includes:(a) any holding of subordinated loans or notes in a transferee that is a special purpose vehicle; or(b) over collateralisation by transferring loans or plans1 to a larger aggregate value
BIPRU 4.9.1RRP
BIPRU 4.9 applies with respect to securitisationexposures, non credit-obligation assets and exposures to CIUs.
BIPRU 13.7.4RRP
For the purposes of cross product netting, the following are considered different product categories:(1) repurchase transactions, reverse repurchase transactions, securities or commodities lending or borrowing transactions;(2) margin lending transactions; and(3) financial derivative instruments.[Note: BCD Annex III Part 7 point (a) (part)]
SUP 18.4.37GRP
The FSA will not decide whether to confirm the transfer or amalgamation at the hearing. A copy of its written decision, including its findings on the points made in representations, will be sent to the society(ies) and to those making representations. It will also be available to any other person on request and may be published.
LR 5.4A.15GRP
An issuer may take steps, in connection with a transfer, which require it to consider whether a prospectus is necessary, for example, if the company or its capital is reconstituted in a way that could amount to an offer of transferable securities to the public. The issuer and its advisers should consider whether directive obligations may be triggered.
PERG 9.3.3GRP
An open-ended investment company may be described, in general terms, as a body corporate, most or all of the shares in, or securities of, which can be realised within a reasonable period. Realisation will typically involve the redemption or repurchase of shares in, or securities of, the body corporate. This realisation must be on the basis of the value of the property that the body corporate holds (that is, the net asset value).
TC App 4.1.1ERP

510679

Part 1: Activities

Note: The activity numbers in this table relate to the Regulated Activities in TC App 1.1.1 R. These tables do not cover activities 1, 5, 13A, 13B, 13C, 24, 25 or 26 as these activities do not have a qualification requirement.

Activity Number

Activity

Key - extent to which qualification meets qualification requirement

2

Advising on securities which are not stakeholder pension schemes, personal pension schemes or broker funds

(a)

Meets full qualification requirement on and after, 31 December 2012

3

Advising on derivatives

4 and 6

(4) Advising on retail investment products which are not broker funds and (6) advising on friendly societytax-exempt policies (other than Holloway sickness policies where the Holloway policy special application conditions are met)

(b)

Meets full qualification requirement until 31 December 2012. On and after 31 December 2012 this must be combined with qualification gap-fill. This gap-fill constitutes additional structured continuing professional development, which need not be by examination, completed and verified by an accredited body

12

Advising on and dealing in securities which are not stakeholder pension schemes, personal pension schemes or broker funds

13

Advising on and dealing in derivatives

Activity Number

Activity

Key - extent to which qualification meets qualification requirement

7

Advising on long-term care insurance contracts

1 or

(2 + 3) or

(4 + 5 + 6)

Meets full qualification requirement

8

Advising on investments in the course of corporate finance business

9

Advising on syndicate participation at Lloyd's

11

Undertaking the activity of a pension transfer specialist

14 and 10

Managing investments and/or undertaking the activity of a broker fund adviser

15

Overseeing on a day to day basis operating a collective investment scheme or undertaking activities of a trustee or depositary of a collective investment scheme

16

Overseeing on a day to day basis safeguarding and administering investments or holding client money

17

Overseeing on a day to day basis administrative functions in relation to managing investments:

(i) arranging settlement;

(ii) monitoring and processing corporate actions;

(iii) client account administration, liaison and reporting including valuation and performance measurement;

(iv) ISA or CTF administration;

(v) Investment trust savings scheme administration.

18

Overseeing on a day to day basis administrative functions in relation to effecting or carrying out contracts of insurance which are life policies:

(i) new business administration;

(ii) policy alterations including surrenders and policy loans;

(iii) preparing projections;

(iv) processing claims, including pension payments;

(v) fund switching

1 or

(2 + 3) or

(4 + 5 + 6)

Meets full qualification requirement

19

Overseeing on a day to day basis administrative functions in relation to the operation of stakeholder pension schemes:

(i) new business administration;

(ii) receipt of or alteration to contributions;

(iii) preparing projections and annual statements;

(iv) administration of transfers;

(v) handling claims, including pension payments;

(vi) fund allocation and switching.

20

Advising on a regulated mortgage contract for a non-business purpose

21

Advising on equity release transactions

22

Designing scripted questions for non-advised sales of equity release transactions

23

Overseeing non-advised sales on a day-to-day basis of equity release transactions

Part 2: Appropriate Qualifications Tables

Qualification provider

Qualification

Activity Number(s)

Key

ACI The Financial Markets Association

ACI Diploma (provided it is accompanied by appropriate qualifications in Regulation and Ethics, Investment Principles and Risk and Personal Taxation)

2, 3, 12, 13

a

ACI Dealing Certificate when combined with Chartered Institute of Securities and Investment (CISI) Introduction to Securities and Investments and one of the Regulatory units of the Investment Operations Certificate (IOC)

15, 17

4

ACI Operations Certificate when combined with Chartered Institute of Securities and Investment (CISI) Introduction to Securities and Investments and one of the Regulatory units of the Investment Operations Certificate (IOC)

Association of Accounting Technicians

Member

15, 16, 17, 18, 19

4

Association of Certified International Investment Analysts (ACIIA)

CIIA qualification (provided it is accompanied by appropriate qualifications in Regulation and Ethics, Investment Principles and Risk and Personal Taxation)

2, 3, 12, 13

a

Certified International Investment Analyst (CIIA)

14 and 10

2

Association of Chartered Certified Accountants

Member or Affiliate

8

1

Fellow or Associate

15, 16, 17, 18, 19

4

Association of Corporate Treasurers

Fellow or Associate

15, 16, 17, 18, 19

4

Association of International Wealth Management (AIWM)

Certified International Wealth Manager Diploma (CIWM)

2, 3, 12, 13

a

14 and 10

1

Blackburn College - University Centre

Foundation Degree Award in Financial Services

4 and 6

a

Bournemouth University

BA in Financial Services (1995 to 2001)

4 and 6

b

MA in Financial Services (1995 to 2001)

Post Graduate in Financial Services (1995 to 2001)

Calibrand / Scottish Qualifications Authority

Diploma in Professional Financial Advice

4 and 6

a

Diploma in Professional Financial Advice (NMBA - Alternative Assessment method)

CASS Business School

MSC in Banking and International Finance (provided it is accompanied by appropriate qualifications in Regulation and Ethics, Investment Principles and Risk and Personal Taxation)

2, 3, 12, 13

a

CFA Institute and the CFA Society of the UK

CFA Program (Level 1) plus Investment Management Certificate (Level 4 certificate) (post-2010 exam standards)

2, 3, 12, 13

a

CFA Program plus Unit 1 of the Investment Management Certificate (Level 4 certificate) (post-2010 exam standards)

Associate

2, 3, 12, 13

b

CFA Program (Level 1) plus Investment Management Certificate (pre-2010 exam standards)

CFA Program plus Unit 1 of the Investment Management Certificate (pre-2010 exam standards)

Fellow by examination

CFA Program (Level 1)

14 and 10

2

Fellow or Associate by examination

8

1

14 and 10

15, 16, 17, 18, 19

4

Investment Management Asset Allocation Qualification

14 and 10

2

Investment Regulation and Practice Paper of the Associate Examination

15, 16, 17

5

CFA Society of UK (Formerly the UK Society of Investment Professionals/ Institute of Investment Management and Research (IIMR))

Investment Management Certificate (Level 4 certificate) (post-2010 exam standards) plus other qualifications that meet specialist standards for advising on securities

2, 12

a

Investment Management Certificate (Level 4 certificate) (post-2010 exam standards) plus other qualifications that meet specialist standards for advising on packaged products

4 and 6

Investment Management Certificate (Level 4 certificate) (post-2010 exam standards) plus other qualifications that meet specialist standards for advising on derivatives

3, 13

Investment Management Certificate (both pre and post 2010 examination standards)

8

1

15, 16, 17, 18, 19

4

15, 16, 17

5

14 and 10

1

Investment Practice Version of Investment Management Certificate (both pre and post 2010 Appropriate Exam standards)

14 and 10

2

Investment Practice version of the Investment Management Certificate

8

2

UK Regulation and Markets version of the Investment Management Certificate

8

3

15, 16, 17, 19

5

18

6

Unit 1 - UK Regulation and Markets

14 and 10

3

Chartered Alternative Investment Analysis Association (CAIA)

CAIA Level 1 (provided it is accompanied by appropriate qualifications in Regulation and Ethics and Personal Taxation)

2, 12

b

Chartered Institute of Bankers in Ireland

Fellow or Associate

15, 16, 17, 18, 19

4

Chartered Institute of Bankers in Scotland

Diploma in Investment Planning (Existing Adviser) Post 2010 examination standards

4 and 6

a

Diploma in Investment Planning (New Adviser) Post 2010 examination standards

Post 2010 examination standards

Diploma in Investment Planning (Retail Banking) (Existing Adviser) Post 2010 examination standards

Diploma in investment planning (work based assessment)

Associate (March 1992 to July 1994 syllabus (including top-up test))

4 and 6

b

Associate (post August 1994 syllabus)

Certificate in Investment Planning (Pre 17/09/2004)

Chartered Banker (where candidates hold UK Financial Services and Investment modules)

Diploma in Investment Planning (current)

Associateship - (must include a pass in the Investment Paper)

2, 3, 12, 13

b

Certificate in Investment Planning - Paper 1

15, 16, 18, 19

4

15, 16, 17, 18, 19

5

Certificate in Investment Planning

17

4

Member or Associate

15, 16, 17, 18, 19

4

Mortgage Advice and Practice Certificate

20

1

Certificate in Mortgage Advice and Practice (MAPC) (Pre 16/09/2004)

20, 21, 22

1

MAPC bridge paper plus entry requirements (Pre 31/10/2004)

20

1

Certificate in Investment Planning - Paper 1 (Pre 16/09/2004)

20, 21, 22

3

MAPC - Paper 1 (Pre 16/09/2004)

20

3

Mortgage Advice and Practice Certificate - Paper 1 (Post 17/09/2004)

20, 21

3

Equity Release Mortgage Advice and Practice Certificate (ERMAPC)

21, 22

1

Lifetime Mortgage Advice and Practice Certificate

MAPC Bridge paper plus entry requirements (Pre 16/09/2004)

Certificate in Mortgage Advice and Practice (MAPC) (Pre 16/09/2004) - Paper 1

21, 22

3

Equity Release Mortgage Advice and Practice Certificate (ERMAPC)

23

4

23

5

23

6

Chartered Institute of Management Accountants

Fellow or Associate

15, 16, 17, 18, 19

4

Chartered Institute of Public Finance and Accountancy

Fellow or Associate

15, 16, 17, 18, 19

4

Chartered Institute for Securities and Investment (CISI) - (Formerly the Securities and Investment Institute (SII); formerly The Securities Association)

Investment Advice Diploma (where candidate holds 3 modules including the derivatives module)

3, 13

Investment Advice Diploma (where candidate holds 3 modules including the securities module)

2, 12

Masters in Wealth Management (Post 2010 examination standards)

2, 3, 4 and 6, 12, 13

Certificate in Private Client Investment Advice and Management

2, 3, 4 and 6, 12, 13

b

14 and 10

1

Certificate in Private Client Investment Advice and Management (attained through a CISI competency interview and presentation only)

2, 3, 4 and 6, 12, 13

b

14 and 10

1

Diploma (where candidate holds 3 modules as recommended by the firm)

2, 3, 4 and 6, 12, 13

b

Investment Advice Certificate

2, 3, 4 and 6, 12, 13

b

Masters in Wealth Management (Pre 2010 examination standards)

2, 3, 4 and 6, 12, 13

b

Member of the Securities Institute (MSI Dip) (where candidate holds 3 modules as recommended by the firm)

2, 3, 4 and 6, 12, 13

b

Certificate in Corporate Finance

8

1

15, 16, 17, 18, 19

4

Certificate in Derivatives - Paper 2

15, 16, 17, 18, 19

4

Certificate in Investment and Financial Advice - Paper 1

21, 22

3

Certificate in Investment Management

8

1

15, 16, 17, 19

4

15, 16, 17

5

14 and 10

1

Certificate in Investment Management - Paper 2

8

2

14 and 10

Certificate in Securities

8

1

Certificate in Securities - Paper 2

15, 16, 17, 18, 19

4

Certificate in Securities and Derivatives - Paper 2

19

4

Certificate in Securities and Financial Derivatives

8

1

Certificate in Securities and Financial Derivatives - Paper 2

15, 16, 17, 18

4

Client Services Qualification

15, 16, 17, 18, 19

4

Diploma

15, 16, 17, 18, 19

4

Diploma - Corporate Finance Paper

8

2

Diploma - Global Operations Management Module

15, 16, 17, 18, 19

4

15, 16, 17

5

6

Diploma - International Operations Management Module

15

4

15, 16

5

6

17

4

5

6

Diploma - International Operations Module

16, 18, 19

4

Diploma - Operations Management Module

15, 16, 17, 18, 19

4

15, 17

5

15, 16, 17

6

Diploma - Regulation and Compliance Module

8

3

14 and 10

15, 16, 17, 18, 19

5

Diploma (must include a pass in Regulation and Compliance Paper)

8

1

Diploma (where candidate holds 3 modules as recommended by the firm)

14 and 10

1

Investment Administration Qualification - Asset Servicing Module

15, 16, 17

6

Investment Administration Qualification - Basics of CREST Module

15, 16, 17

6

Investment Administration Qualification - Bond Settlement Module

15, 16, 17

6

Investment Administration Qualification - Collective Investment Schemes Administration Module

15, 16, 17

6

Investment Administration Qualification - CREST Settlement Module

15, 16, 17

6

Investment Administration Qualification - Derivatives Operations Module

15, 16, 17

6

Investment Administration Qualification - Exchange - Traded Derivative Administration Module

15, 16, 17

6

Investment Administration Qualification - FSA Regulatory Environment Module

15, 16, 17

5

Investment Administration Qualification - Global Custody Module

15, 16, 17

6

Investment Administration Qualification - Global Securities Operations Module

16, 17

6

Investment Administration Qualification - Global Settlement Module

15, 16, 17

6

Investment Administration Qualification - IMRO Regulatory Environment Module

8

3

14 and 10

15, 16, 17, 18, 19

5

Investment Administration Qualification - Introduction to Securities and Investment Module

15, 16, 17, 18, 19

4

Investment Administration Qualification - ISA Administration Module

15, 16, 17

6

Investment Administration Qualification - ISA and CTF Administration Module

17

6

Investment Administration Qualification - ISA and PEP Administration Module

15, 16, 17

6

Investment Administration Qualification - Life Policy Administration Module

18

6

Investment Administration Qualification - OEIC Administration Module

15, 16, 17

6

Investment Administration Qualification - Operational Risk Module

15, 16, 17

6

Investment Administration Qualification - OTC Derivatives Administration Module

15, 16

6

Investment Administration Qualification - Pensions Administration Module

19

6

Investment Administration Qualification - PEP Administration Module

15, 16, 17

6

Investment Administration Qualification - Portfolio Performance Measurement Module

15, 16

6

Investment Administration Qualification - Private Client Administration Module

15, 16, 17

6

Investment Administration Qualification - SFA Regulatory Environment Module

8

3

14 and 10

15, 16, 17, 18

5

Investment Administration Qualification - Unit 2 FSA Regulatory Environment - (Formerly the Investment Administration Qualification - Regulatory Environment Module)

8

3

14 and 10

18, 19

5

Investment Administration Qualification - Unit Trust Administration Module

15, 16, 17

6

Investment Advice Certificate

14 and 10

1

Investment Advice Certificate - Paper 1

15, 16, 17, 18, 19

4

5

Investment Advice Certificate - Paper 1 (No new registrations)

20, 21, 22

3

Investment Advice Certificate - Paper 2

18, 19

6

Investment Advice Diploma (where candidates hold technical modules as recommended by the firm)

14 and 10

1

Investment Operations Certificate - Asset Servicing Module

15, 16, 17

6

Investment Operations Certificate - Collective Investment Schemes Administration Module

15, 16, 17

6

Investment Operations Certificate - CREST Settlement Module

15, 16, 17

6

Investment Operations Certificate - Exchange - Traded Derivative Administration Module

15, 16, 17

6

Investment Operations Certificate - FSA Financial Regulation Module

8

3

14 and 10

15, 16, 17, 18, 19

5

Investment Operations Certificate - Global Securities Operations Module

17

6

Investment Operations Certificate - Global Securities Operations Module

16

6

Investment Operations Certificate - Introduction to Securities and Investment Module

15, 16, 17, 18, 19

4

Investment Operations Certificate - ISA Administration Module

15, 16, 17

6

Investment Operations Certificate - Operational Risk Module

15, 16, 17

6

Investment Operations Certificate - OTC Derivatives Administration Module

15, 16

6

Investment Operations Certificate - Private Client Administration Module

15, 16, 17

6

Level 3 Certificate in Investments (Derivatives) - Unit 3

15, 16, 17, 18, 19

4

Level 3 Certificate in Investments (Investment Management)

14 and 10

1

15, 16, 17, 18, 19

4

15, 16, 17

5

Level 3 Certificate in Investments (Investment Management) - Unit 5

8

2

14 and 10

Level 3 Certificate in Investments (Securities and Financial Derivatives)

8

1

15, 16, 17, 18, 19

4

Level 3 Certificate in Investments (Securities)

8

1

Level 3 Certificate in Investments (Securities) - Unit 2

15, 16, 17, 18, 19

4

Level 6 Diploma in Wealth Management

14 and 10

1

Masters in Wealth Management

14 and 10

1

Member of the Securities Institute by examination

15, 17, 19

4

Principles of Financial Regulation

8

3

18, 19

5

SFA Corporate Finance Representative Examination

8

1

15, 16, 17, 18, 19

4

SFA Futures and Options Representative Examination

15, 16, 17, 18, 19

4

15, 16, 17

5

SFA Registered Persons Examination - Section 1 (Regulation)

8

3

14 and 10

15, 16, 17, 18, 19

5

SFA Securities and Financial Derivatives Representative Examination

8

1

15, 16, 17, 18, 19

4

15, 16, 17

5

SFA Securities Representative Examination

8

1

15, 16, 17, 18, 19

4

16, 17

5

TSA Registered Representative Examinations

8

1

15, 16, 17, 18, 19

4

15, 16

5

Unit 1 - Financial Regulation

14 and 10

3

Unit 1 Financial Regulation (Formerly the Securities Institute Regulatory Paper)

8

3

15, 16, 17, 18, 19

5

Unit 6 - Principles of Financial Regulation

14 and 10

3

15, 16, 17

5

Chartered Insurance Institute

Certificate in Securities Advice and Dealing

2, 12

Diploma in Regulated Financial Planning

4 and 6

a

Diploma in Regulated Financial Planning (attained through a CII alternative assessment day)

Fellow or Associate (life and pensions route only)

2, 3, 12, 13

b

Advanced Financial Planning Certificate

2, 3, 4 and 6, 12, 13

b

Diploma in Financial Planning

4 and 6

b

Fellow (FCII) (where candidates hold appropriate life and pensions modules)

Fellow (FLIA Dip)

Advanced Diploma in Financial Planning

Associate (ACII) (where candidate holds appropriate life and pension modules)

Associate (ALIA Dip)

Certificate in Financial Planning plus the Award in Long Term Care Insurance

7

1

G80 paper of Advanced Financial Planning Certificate (October 2004) plus appropriate exam requirements for TC 2.1.4R(1)(f)

G70 Paper of the Advanced Financial Planning Certificate

8

1

Award in London Market Insurance

9

1

Fellow or Associate including three pensions-related subjects as confirmed by the examining body

11

1

G60 paper of Advanced Financial Planning Certificate

Unit AF3 of the Advanced Diploma in Financial Planning

Certificate of Insurance Practice

18

4

Certificate of Insurance Practice (life or pensions route)

18

6

FA1 - Life office administration

Fellow or Associate (life and pensions route only)

Life assurance paper (735) from the Associateship

Certificate of Insurance Practice (Pensions route)

19

6

Fellow or Associate (Pensions route)

Certificate in Mortgage Advice

20

1

Certificate in Equity Release (Formerly known as Certificate in Financial Planning and Lifetime Mortgages)

21

1

Certificate in Equity Release

22

1

23

4

23

5

23

6

Advanced Financial Planning Certificate (must include a pass in G70 paper)

14 and 10

1

Certificate in Discretionary Investment Management

Fellow or Associate

15, 16, 17, 18, 19

4

Financial Planning Certificate - Paper 1

15, 16, 17, 18, 19

4

15, 16, 17, 18, 19

5

CF1 - UK financial services, regulation and ethics

18, 19

4

18, 19

5

FA2 - Pensions administration paper

18, 19

6

Financial Planning Certificate - Paper 2

Pensions law, taxation and administration paper (740) from the Associateship

18, 19

6

Certificate in Mortgage Advice - Paper 1

20, 21

3

Mortgage Advice Qualification (MAQ) plus entry requirements

20, 21, 22

1

Financial Planning Certificate - Paper 1 (No new registrations after 17/12/2004)

20, 21, 22

3

EFFAS Societies with accredited examinations

Certified European Financial Analyst

14 and 10

2

Faculty or Institute of Actuaries

Fellow or Associate or where the individual has passed all of the following modules CT1, CT2, CT4, CT5, CT6, CT7 and CT8

2, 3, 4 and 6, 12, 13

a

14 and 10

1

Associate - achieved by examination passed before 1 December 2001 (must include a pass in Subject 301 - Investment and Asset Management (syllabus in force from 1998)

14 and 10

1

Associate - achieved by examination passed after 1 December 2001 (must include a pass in subject 301 - Investment and Asset Management (syllabus in force from 1998)

14 and 10

2

Fellow or Associate

19

6

Fellow - achieved by examination (must include a pass in subjects 301 and 401 Investment and Asset Management (syllabus in force from 1998))

14 and 10

1

Fellow or Associate

11

1

16, 17, 18, 19

4

18

6

Fellow or Associate by examination (must include Investment Paper E (Syllabus in force until 1998))

14 and 10

1

Fellow or where the individual has passed all of the following modules CA1 and SA2

18

4

Financial Industry Regulatory Authority (FINRA) - Formerly the National Association of Securities Dealers (NASD)

Series 7 - General Securities Representatives Examination (provided it is accompanied by appropriate qualifications in Regulation and Ethics and Personal Taxation)

2, 3, 12, 13

b

Financial Skills Partnership (formerly the Financial Services Skills Council (FSSC))

FSSC Advanced Apprenticeship in Advising on Financial Products (Long Term Care Insurance Pathway)

7

1

FSSC Advanced Apprenticeship in Retail Financial Services (Investment Administration Pathway including either Asset Servicing / CREST Settlement / Global Securities or ISA and CTF Administration)

17

6

FSSC Advanced Apprenticeship in Retail Financial Services (Investment Administration Pathway including FSA Regulatory Environment or Principles of Financial Regulation)

17

5

FSSC Advanced Apprenticeship in Retail Financial Services (investment Administration Pathway including the Introduction to Securities and Investment module)

17

4

FSSC AdvancedApprenticeship in Retail Financial Services (Long Term Insurance Pathway including CF1)

18

4

FSSC Advanced Apprenticeship in Retail Financial Services (Long Term Insurance Pathway including CF1)

18

5

FSSC Advanced Apprenticeship in Retail Financial Services (Long Term Insurance Pathway including CF1 and either FA1 or FA2)

18

6

FSSC Advanced Apprenticeship in Retail Financial Services (Long Term Insurance Pathway including CF1 and FA2)

19

1

FSSC Advanced Apprenticeship in Advising on Financial Products (Mortgage Advice Pathway)

20

1

ICMA Centre/ University of Reading (Formerly ISMA Centre/ University of Reading)

Diploma in Capital Markets, Regulation and Compliance

17

5

Operations Certificate Programme (OCP)

16, 17

6

ifs School of Finance(formerly the Chartered Institute of Bankers)

Diploma for Financial Advisers (post 2010 examination standards)

4 and 6

a

Professional Certificate in Banking (PCertB) (where candidate has passed the Practice of Financial Advice module)

Associateship - (must include a pass in the Investment / Investment Management Paper)

2, 3, 4 and 6, 12, 13

b

Diploma for Financial Advisers (pre 2010 examination standards)

4 and 6

b

Professional Investment Certificate

Certificate for Financial Advisers and Certificate in Long-term Care Insurance

7

1

Pensions paper of Professional Investment Certificate

11

1

Certificate for Financial Advisers - Paper 1

15

5

Fellow or Associate

15, 16, 17, 18, 19

4

Certificate for Financial Advisers - Paper 1 (Pre 31/10/2004)

15, 16, 17, 18, 19

4

5

20, 21, 22

3

Certificate for Financial Advisers - Paper 1 (Post 01/11/2004)

18, 19

4

5

Certificate for Financial Advisers - Paper 2 (Pre 31/10/2004)

18, 19

6

CeMAP Bridge paper plus entry requirements

20

1

Certificate in Mortgage Advice and Practice (Post 01/11/2004)

20

1

Diploma for Mortgage Advice and Practice DipMAP (plus entry requirements)

20

1

CeMAP bridge paper plus entry requirements (Pre 31/10/2004)

21, 22

1

Certificate in Mortgage Advice and Practice (CeMAP) (Pre 31/10/2004) - Paper 1

20, 21

3

Certificate in Mortgage Advice and Practice (Post 01/11/2004) - Paper 1

20, 21

3

Certificate in Mortgage Advice and Practice (CeMAP) (Pre 31/10/2004)

20, 21, 22

1

Certificate in Regulated Equity Release (Formerly known as Certificate in Lifetime Mortgages)

21, 22

1

23

4

23

5

23

6

Institute of Chartered Accountants in England and Wales

Fellow or Associate

8

1

15, 16, 17, 18, 19

4

Initial Test of Competence

18, 19

6

Institute of Chartered Accountants in Ireland

Fellow or Associate

8

1

15, 16, 17, 18, 19

4

Initial Test of Competence

19

6

Institute of Chartered Accountants in Scotland

Member

8

1

15, 16, 17, 18, 19

4

Initial Test of Competence

19

6

Institute of Chartered Secretaries and Administrators

Certificate in Collective Investment Scheme Administration

15, 16, 17, 18

4

5

15, 16

6

19

4

Certificate in Company Secretarial Practice and Share Registration Practice (including the Regulatory module within the examination)

15, 16. 17

4

5

6

Fellow or Associate

15, 16, 17, 18, 19

4

Institute of Financial Planning

Certified Financial Planner

4 and 6

b

Fellowship

Insurance Sector Education and Training Authority

National Diploma: Financial Services Long-Term Risk Assessment

7

2

Investment Management Association

Investment Administration Management Award

15, 16, 17

6

Investment Property Forum

IPF Certificate in Property Investment

14 and 10

2

Japanese Bankers Association

Registered Representative of Public Securities Examination (pre-April 1990)

8

2

Representative of Public Securities Qualification - Class 1

Japanese Securities Dealers Association

Representative of Public Securities Qualification - Type 1 (provided it is accompanied by appropriate qualifications in Regulation and Ethics, Investment Principles and Risk and Personal Taxation

2, 3, 12, 13

b

Representative of Public Securities Examination (pre April 1990)

8

2

Representative of Public Securities Qualification - Type 1

Law Society of England and Wales

Module B(ii), Securities and Portfolio Management

8

2

Module B(i), Retail Branded/ Packaged Products

18, 19

6

Law Society of England and Wales/ Law Society of Northern Ireland

Solicitor

15

4

Law Society of England and Wales/ Law Society of Scotland/ Law Society of Northern Ireland

Solicitor

17, 18, 19

4

Lloyd's

Lloyd's and London Market Introductory Test (Formerly the Lloyd's Introductory Test)

9

1

Lloyd's/ Chartered Insurance Institute

Lloyd's Market Certificate

9

1

London Stock Exchange (records are now kept by The Chartered Institute for Securities and Investment (CISI); Formerly the Securities and Investment Institute (SII); formerly The Securities Association)

London Stock Exchange Full Membership Exams (and other regional stock exchanges as merged with London Stock Exchange) - where candidate holds three or four papers or holds both the Stock Exchange Practice and Techniques of Investment papers

2, 3, 4 and 6, 12, 13

b

14 and 10

1

Stock Exchange Registered Representative Examination

8

1

15, 16, 17, 18, 19

4

15, 16

5

Manchester Metropolitan University

BA (Hons) Financial Services, Planning and Management

2, 3, 4 and 6, 12, 13

a

N/A

In-house module (only where the firm can demonstrate that none of the listed examinations are appropriate)

15, 16, 17, 18, 19

6

NIBE SVV the Dutch Institute for the Banking, Insurance and Stockbroking Industry

Examination

8

2

Pensions Management Institute

Diploma in Regulated Retirement Advice

4 and 6

a

11

1

Fellow or Associate by examination

11

1

Module 201: Providing for Retirement

19

4

Fellow or Associate

15, 16, 17, 18, 19

4

Diploma in Member-Directed Pension Scheme Administration

18

6

Fellow or Associate by examination

18, 19

6

Sheffield Hallam University

BA in Financial Services (1995 to 2001)

4 and 6

b

MA in Financial Services (1995 to 2001)

Post Graduate in Financial Services (1995 to 2001)

Society of Investment Analysts in Ireland

Certificate in Investment Management (at least 3 papers passed by examination)

14 and 10

2

South African Institute of Financial Markets

Ordinary and Senior Certificates

8, 14 and 10

2

Swiss Finance Institute

Dual degree Executive MBA in Asset and Wealth Management

14 and 10

2

The Securities Analysts Association of Japan (SAAJ)

CMA Level 2 (for individuals advising before 30 June 2009)

2, 3, 12, 13

b

CMA Level 2 (for individuals not advising before 30 June 2009 - provided it is accompanied by appropriate qualifications in Regulation and Ethics, Investment Principles and Risk and Personal Taxation)

CMA Level 2

8

2

Secondary Examination

Chartered Member

14 and 10

2

University of Stirling

BA in Finance

2, 4 and 6, 12

b

BA in Finance and Accounting

2, 3, 4 and 6, 12, 13

b

MSc in Finance

2, 3, 12, 13

b

MSc in international Accounting and Finance (where candidates hold modules as recommended by the firm)

2, 3, 12, 13

b

8

2

14 and 10

1

MSc in Investment Analysis

2, 3, 12, 13

b

14 and 10

1

University of the West of England

BA in Financial Services (1995 to 2001)

4 and 6

b

MA in Financial Services (1995 to 2001)

Post Graduate in Financial Services (1995 to 2001)
LR 13.7.1RRP
(1) A circular relating to a resolution proposing to give the company authority to purchase its own equity securities must also include:(a) if the authority sought is a general one, a statement of the directors' intentions about using the authority;(b) if known, the method by which the company intends to acquire its equity shares and the number to be acquired in that way;(c) a statement of whether the company intends to cancel the equity shares or hold them in treasury;(d) if
SYSC 10.1.12GRP
In drawing up a conflicts of interest policy which identifies circumstances which constitute or may give rise to a conflict of interest, a firm should pay special attention to the activities of investment research and advice, proprietary trading, portfolio management and corporate finance business, including underwriting or selling in an offering of securities and advising on mergers and acquisitions. In particular, such special attention is appropriate where the firm or a person
BIPRU 7.5.7RRP
When determining the currency of denomination firms must:(1) use the currency in which the firm accounts for the instrument where an instrument is quoted in more than one currency; and(2) treat depository receipts as positions in the underlying security.
SUP 12.5.2GRP
(1) Regulations 3(1) 8and (2) of the Appointed Representatives Regulations make it a requirement that the contract between the firm and the appointed representative (unless it prohibits the appointed representative from representing other counterparties) contains a provision enabling the firm to:488(a) impose such a prohibition; or(b) impose restrictions as to the other counterparties which the appointed representative may represent, or as to the types of investment in relation
DTR 5.1.3RRP
Voting rights attaching to the following shares are to be disregarded for the purposes of determining whether a person has a notification obligation in accordance with the thresholds in DTR 5.1.2 R:(1) shares acquired for the sole purpose of clearing and settlement within a settlement cycle not exceeding the period beginning with the transaction and ending at the close of the third trading day following the day of the execution of the transaction (irrespective of whether the transaction
SUP 13A.9.5GRP
(1) The purpose of the precautionary measure rule is to ensure that an incoming EEA firm is subject to the standards of MiFID and the MiFID implementing Directive to the extent that the Home State has not transposed MiFID or the MiFID implementing Directive by 1 November 2007. It is to 'fill a gap'.(2) The rule is made in the light of the duty of the United Kingdom under Article 62 of MiFID to adopt precautionary measures to protect investors. (3) The rule will be effective for
PERG 4.12.5GRP
Where a person is already an appointed representative (in relation to any non-mortgage activities) and he proposes to carry on any regulated mortgage activities, he will need to consider the following matters.(1) He must become authorised if his proposed mortgage activities include either entering into a regulated mortgage contract or administering a regulated mortgage contract. These activities may not be carried on by appointed representatives and the Act does not permit any
COLL 6.8.3RRP
(1) An authorised fund must have an annual income allocation date, which must be within four months of the end of the relevant annual accounting period.33(2) An authorised fund may have interim income allocation dates and one or more interim accounting periods for each of those dates2 and, if it does, the interim income allocation date must be within four months of the end of the relevant interim accounting period(s).22(3) An authorised fund must have a distribution account to
PR 5.3.1UKRP

Sections 87H and 87I of the Act provide:

Prospectus approved in another EEA State

87H

(1)

A prospectus approved by the competent authority of an EEA State other than the United Kingdom is not an approved prospectus for the purposes of section 85 unless that authority has notified ESMA and provided the competent authority with -3

(a)

a certificate of approval;

(b)

a copy of the prospectus as approved; and

(c)

if requested by the [FSA], a translation of the summary of the prospectus.

(2)

A document is not a certificate of approval unless it states that the prospectus -

(a)

has been drawn up in accordance with the prospectus directive; and

(b)

has been approved, in accordance with that directive, by the competent authority providing the certificate.

(3)

A document is not a certificate of approval unless it states whether (and, if so, why) the competent authority providing it authorised, in accordance with the prospectus directive, the omission from the prospectus of information which would otherwise have been required to be included.

3(3A)

The competent authority must publish on its website a list of certificates of approval provided to it in accordance with this section.

3(3B)

The list referred to in subsection (3A) must -

(a)

be kept up-to-date;

(b)

retain items on it for a period of at least 12 months; and

(c)

include hyperlinks to any certificate of approval and prospectus published on the website of -

(i)

the competent authority of the EEA State which provided the certificate;

(ii)

the issuer; or

(iii)

the regulated market where admission to trading is sought.

(4)

"Prospectus" includes a supplementary prospectus.

Provision of information to host Member State

87I

(1)

The [FSA] must, if requested to do so, supply the competent authority of a specified EEA State with –

(a)

a certificate of approval;

(b)

a copy of the specified prospectus (as approved by the [FSA]); and

(c)

a translation of the summary of the specified prospectus (if the request states that one has been requested by the other competent authority).2

(1A)2

If the competent authority supplies a certificate of approval to the competent authority of the specified EEA State, it must also supply a copy of that certificate to -

(a)

the person who made the request under this section; and

(b)

ESMA.

(2)

Only the following may make a request under this section –

(a)

the issuer of the transferable securities to which the specified prospectus relates;

(b)

a person who wishes to offer the transferable securities to which the specified prospectus relates to the public in an EEA State other than (or as well as) the United Kingdom;

(c)

a person requesting the admission of the transferable securities to which the specified prospectus relates to a regulated market situated or operating in an EEA State other than (or as well as) the United Kingdom.

(3)

A certificate of approval must state that the prospectus –

(a)

has been drawn up in accordance with this Part and the prospectus directive; and

(b)

has been approved, in accordance with those provisions, by the [FSA].

(4)

A certificate of approval must state whether (and, if so, why) the [FSA] authorised, in accordance with section 87B, the omission from the prospectus of information which would otherwise have been required to be included.

(5)

The [FSA] must comply with a request under this section –

(a)

if the prospectus has been approved before the request is made, within 3 working days beginning with the date the request is received2; or

2

(b)

if the request is submitted with an application for the approval of the prospectus, on the first working day after the date on which it approves the prospectus.

(6)

“Prospectus” includes a supplementary prospectus.

(7)

“Specified” means specified in a request made for the purposes of this section.