Related provisions for PERG 4.4.6
81 - 100 of 115 items.
1Firms are reminded that in accordance with MCOB 1.2.3 R, they should either comply in full with MCOB or comply with all tailored provisions in MCOB that relate to business loans. Therefore, a firm may only follow the tailored provisions in MCOB 4.9 if it also follows all other tailored provisions in MCOB.
This table belongs to COLL 5.1.2G (2).
Scheme investments and investment techniques |
Limits for UCITS schemes |
Limits for non-UCITS retail schemes |
||
Permissible investment |
Maximum limit |
Permissible investment |
Maximum limit |
|
Yes |
None |
Yes |
None |
|
Transferable securities that are not approved securities |
Yes |
10% |
Yes |
20% |
Yes |
None |
Yes |
None |
|
Regulated schemes other than qualified investor schemes1 |
Yes |
None |
Yes |
None |
Unregulated schemes and qualified investor schemes1 |
No |
N/A |
Yes |
20%(C)1 |
Yes |
None |
Yes |
None |
|
Yes |
None |
Yes |
None |
|
Yes |
None |
Yes |
None |
|
Yes |
None |
Yes |
None |
|
Immovables (i.e real property) |
No |
N/A |
Yes |
None |
Gold |
No |
N/A |
Yes |
10% |
Hedging |
Yes |
None |
Yes |
None |
Yes |
None |
Yes |
None |
|
Underwriting |
Yes |
None |
Yes |
None |
Borrowing |
Yes |
10% (T) |
Yes |
10% |
Cash and near cash |
Yes |
None |
Yes |
None |
Note: |
Meaning of terms used: |
|||
A percentage |
an upper limit (though there may be limits of other kinds). |
|||
"(T)" |
temporary only- see COLL 5.5.4R(4) |
|||
"N/A" |
Not applicable1 |
|||
1“(C)” |
In the case of a non-UCITS retail scheme operating as a FAIF there is no maximum limit - see COLL 5.7.7 R. |
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There may also be situations where a lender, who does not maintain an establishment in the United Kingdom, provides services in the United Kingdom. For instance, a lender might attend a property exhibition in the United Kingdom at which he sets up a loan with a borrower. A lender might also attend the offices of its UK-based lawyers, or appoint them as its agent, to enter into a contract with a borrower. In these cases, the overseas lender would only be carrying on a regulated
4For the purposes of REC 2.3, "net capital" should be in the form of equity. For this purpose, the FSA considers that common stock, retained earnings, disclosed reserves and other instruments classified as common equity tier one capital or additional tier one capital constitute equity. The FSA considers that, when calculating its net capital, a UK recognised body:(1) should deduct holdings of its own securities, or those of any undertaking in the same group as the UK recognised
(1) This section covers techniques relating to transferable securities and approved money-market instruments which are used for the purpose of efficient portfolio management. It3 permits the generation of additional income for the benefit of the authorised fund, and hence for its investors, by entry into stock lending transactions for the account of the authorised fund.(2) The specific method of stock lending permitted in this section is in fact not a transaction which is a loan
(1) The risk management process in COLL 6.12.3 R should take account of the investment objectives and policy of the scheme as stated in the most recent prospectus.(2) The depositary of a UCITS scheme should take reasonable care to review the appropriateness of the risk management process in line with its duties under COLL 6.6.4 R (General duties of the depositary) and COLL 6.6.14 R (Duties of the depositary and authorised fund manager: investment and borrowing powers), as appropriate.
(1) The scheme property of a qualified investor scheme may, subject to the rules in this chapter, comprise any assets or investments to which it is dedicated.(2) The instrument constituting the scheme and the prospectus may further restrict:(a) the kinds of assets in which the scheme property may be invested;(b) the types of transactions permitted and any relevant limits; and(c) the borrowing powers of the scheme.
3Firms should substitute equivalent home reversion terminology for lifetime mortgage terminology, where appropriate. Examples of terms and expressions that should be replaced in relation to home reversion plans are 'loan' or 'amount borrowed', which should be replaced with 'amount released' or 'amount to be released', as appropriate, and 'mortgage lender' and 'mortgage intermediary' which should be replaced with 'reversion provider' and 'reversion intermediary'.
Table of FEES 4 rules that correspond to FEES 7 rules
FEES 4 rules |
Corresponding FEES 7 rules |
Part 1 of FEES 4 Annex 2 |
Part 1 of FEES 7 Annex 11 |
1Part 2 of FEES 4 Annex 11 |
Part 1 of FEES 7 Annex 1 |
1Part 5 of FEES 4 Annex 11 |
Part 1 of FEES 7 Annex 1 |
(1) If a scheme of arrangement is entered into in relation to an authorised fund ("transferor fund") or a sub-fund of a scheme which is an umbrella ("transferor sub-fund"), an authorised fund manager must ensure that the unitholders of the transferor fund or sub-fund do not become unitholders of units in a collective investment scheme other than a regulated collective investment scheme.(2) For a UCITS scheme or a sub-fund of a UCITS scheme, (1) applies as if the reference to a
As soon as a SRB agreement provider has provided the written pre-offer document at Stage One to a SRB agreement seller who is in arrears under his regulated mortgage contract or home purchase plan on the property to which the proposed regulated sale and rent back agreement relates, it must, in a durable medium, immediately notify the mortgage lender, home purchase provider or the providers of other loans that may be secured on the property:(1) explaining that the firm is proposing
In the FSA's view, the circumstances in which a person is giving advice on the borrower varying the terms of a regulated mortgage contract so as to vary his obligations under the contract include (but are not limited to) where the advice is about:(1) the borrower obtaining a further advance secured on the same land as the original loan; or(2) a rate switch or a product switch (that is, where the borrower does not change lender but changes the terms for repayment from, say, a variable
In the absence of evidence to the contrary, the firm should presume that the complainant would not have bought the payment protection contract he bought if the sale was substantially flawed, for example where the firm:(1) pressured the complainant into purchasing the payment protection contract; or(2) did not disclose to the complainant, in good time before the sale was concluded, and in a way that was fair, clear and not misleading, that the policy was optional; or(3) made the
This chapter also applies in relation to regulated mortgage contracts in circumstances where the original mortgage lender has passed on ownership of the loan to a third party through securitisation. In such a case, the rules in MCOB 7.5 - MCOB 7.7.4 R will apply to the firm which administers the regulated mortgage contract.