Related provisions for MCOB 6.4.8
161 - 180 of 206 items.
If a customer requests, or agrees to, a change to a lifetime mortgage.3(other than a change as described in MCOB 7.6.7 R to MCOB 7.6.27 R (as modified by MCOB 9)) that changes the amount paid to the customer under a drawdown mortgage, or the amount that the customer will owe under a roll-up of interest mortgage, or both, a firm must provide the customer with the following information, in a single communication, before the change takes effect:3(1) the amount outstanding on the
So that the complainant can make the decision on the continuation of cover from an informed position, the firm should:(1) offer to provide details of the existing payment protection contract;(2) inform the complainant that he may be able to find similar cover more cheaply from another provider in the event that he chooses to cancel the policy and take an alternative but remind the complainant that if his circumstances (for example, his health or employment prospects) have changed
A firm should ensure that a financial promotion:(1) for a product or service that places a client's capital at risk makes this clear;(2) that quotes a yield figure gives a balanced impression of both the short and long term prospects for the investment;(3) that promotes an investment or service whose charging structure is complex, or in relation to which the firm will receive more than one element of remuneration, includes the information necessary to ensure that it is fair, clear
(1) If information compares relevant business, relevant investments, or persons who carry on relevant business, a firm must ensure that:(a) the comparison is meaningful and presented in a fair and balanced way; and(b) in relation to MiFID or equivalent third country business;(i) the sources of the information used for the comparison are specified; and(ii) the key facts and assumptions used to make the comparison are included.(2) In this rule, in relation to MiFID or equivalent
(1) A firm must not agree to:(a) deal in investments as agent for an insurance undertaking in connection with insurance mediation; or(b) act
as agent for an insurance undertaking for
the purpose of settling claims or handling premium refunds;
or(c) otherwise
receive money as agent of an insurance undertaking;unless:(d) it
has entered into a written agreement with the insurance
undertaking to that effect; and(e) it
is satisfied on reasonable grounds that the terms of the policies
A firm is unlikely, for example, to be treating its customer fairly in relation to termination of a home purchase plan, home reversion plan or regulated sale and rent back agreement2if:(1) the grounds on which it may terminate all or part of a plan or agreement2 are unduly wide, or on which a customer may terminate are unduly narrow; or(2) the customer is not given appropriate notice of termination.
If a primary pooling event occurs:(1) 1all client money held in a client bank account or a client transaction account1 of the firm is treated as pooled (forming a notional pool) except for client money held in a client transaction accountthat is an individual client account or an omnibus client account at an authorised central counterparty;(2) the firm must distribute client money comprising the notional pool in accordance with CASS 7.7.2 R, so that each client receives a sum
(1) The FSA may request a firm to submit the design and results of its reverse stress tests and any subsequent updates as part of its ARROW risk assessment. (2) In the light of the results of a firm's reverse stress tests, the FSA may require the firm to implement specific measures to prevent or mitigate the risk of business failure where that risk is not sufficiently mitigated by the measures adopted by the firm in accordance with SYSC 20.2.1 R, and the firm's potential failure
(1) The information in MCOB 4 Annex 3 will be provided in 'good time' for the purposes of MCOB 4.5.2 R (1), if provided in sufficient time to enable the customer to consider properly the services on offer.(2) An example of the circumstances in which MCOB 4.5.2 R (4) or (5) may apply is given in MCOB 4.4.4 G. If the initial disclosure document and accompanying information (including that in MCOB 4 Annex 3) was previously provided to a customer and continues to be appropriate, there
In assessing a UK recognised body's systems and controls for assessing and managing risk, the FSA may also have regard to the extent to which these systems and controls enable the UK recognised body to:(1) identify all the general, operational, legal and market risks wherever they arise in its activities;(2) measure and control the different types of risk;(3) allocate responsibility for risk management to persons with appropriate knowledge and expertise; and(4) provide sufficient,
Where, in relation to an offer in the United Kingdom, no prospectus is required under the Act, the issuer and offeror must ensure that material information they provide to qualified investors or special categories of investors, including information disclosed in the context of meetings relating to offers, is disclosed to all qualified investors or special categories of investors to whom the offer is exclusively addressed. [Note: article 15.5 PD]
A company with, or applying for, a premium listing of its equity shares5 must appoint a sponsor on each occasion that it:4(1) is required to submit any of the following documents to the FSA in connection with6 an application for admission of equity shares5 to premium listing6:66(a) a prospectus or equivalent document1; or6(b) a certificate of approval from another competent authority; or6(c) a summary document as required by PR 1.2.3R (8); or6(d) listing particulars referred to
(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 firm in bringing (or failing
19The Ombudsman can only consider a complaint if:(1) the respondent has already sent the complainant its final response ; or(2) eight weeks have elapsed since the respondent received the complaint; or3(3) in relation to a complaint the subject matter of which falls to be dealt with (or has properly been dealt with) under a consumer redress scheme:3(a) the respondent has already sent the complainant its redress determination under the scheme; or3(b) the respondent has failed to
34Product providers with windfall benefits in the form of policy augmentations should tell:(1) their own relevant customers (mortgage endowment complainants); and(2) 1other firms1 with such customers (and any other interested parties);that they have excluded windfall augmentation benefits from values used or to be used for loss and redress.1Firms1 should provide this information to the Financial Services Compensation Scheme when providing them with a value to be used for loss
(1) An authorised fund manager of a UCITS scheme or a UK UCITS management company of an EEA UCITS scheme must ensure, for each portfolio transaction relating to a scheme it manages, that a record of information which is sufficient to reconstruct the details of the order and the executed transaction is produced without delay.(2) The record referred to in (1) must include:(a) the name or other designation of the scheme and of the person acting on behalf of the scheme;(b) the details
A circular convening
a meeting required by LR 12.4.7 R must include (in addition to the information
in LR 13 (Contents
of circulars)):(1) a statement of the effect on1 the conversion expectations of holders in terms
of attributable assets and earnings, on the basis that the company exercises
the authority to purchase its equity shares in
full at the maximum price allowed (where the price is to be determined by
reference to a future market price the calculation must be made on
(1) For the authorised fund manager's periodic charge or for payments out of scheme property to the investment adviser, the prospectus may permit a payment based on a comparison of one or more aspects of the scheme property or price in comparison with fluctuations in the value or price of property of any description or index or other factor designated for the purpose (a "performance fee").(2) Any performance fee should be specified in the appropriate manner in the prospectus and