Related provisions for SUP 11.4.1

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SUP 11.8.2GRP
In assessing whether a matter should be notified to the appropriate regulator9 under SUP 11.8.1 R (1), SUP 11.8.1 R (2) or SUP 11.8.1 R (3), a firm should have regard to the guidance on satisfying the threshold conditions set out in paragraphs 2E and 3D of Schedule 6 to the Act9 contained in COND 2.5.99
SUP 11.8.3GRP
In respect of SUP 11.8.1 R (3), the appropriate regulator9 considers that, in particular, the removal or replacement of a majority of the members of a governing body (in a single event or a series of connected events) is a substantial change and should be notified.9
SUP 11.8.4GRP
If a matter has already been notified to the appropriate regulator9 (for example, as part of the firm's application for a Part 4A permission9), the firm need only inform the appropriate regulator9 of any significant developments.99
SUP 11.8.5GRP
The level of a firm's awareness of its controller's circumstances will depend on its relationship with that controller. The appropriate regulator9 does not expect firms to implement systems or procedures so as to be certain of any changes in its controllers' circumstances. However, the appropriate regulator9 does expect firms to notify it of such matters if the firm becomes aware of them, and it expects firms to make enquiries of its controllers if it becomes aware that one of
FINMAR 2.6.1GRP
Pursuant to the Financial Services and Markets Act 2000 (Short Selling) Regulations 2012 (SI 2012/2554), the FCA will direct how notifications to use the market maker exemption or the authorised primary dealer exemption shall be made. Such directions will be published on the FCA website and listed in FINMAR 2 Annex 1 G.
FINMAR 2.6.2GRP
(1) If the FCA considers that a natural or legal person ('P') who has notified the FCA of his intention to use either the market maker exemption or the authorised primary dealer exemption does not satisfy the criteria to use the market maker exemption or the authorised primary dealer exemption, the FCA will send a letter to P setting out the reasons why it is minded to prohibit P from using the market maker exemption or the authorised primary dealer exemption.(2) P will be given
FINMAR 2.6.3GRP
If P is not satisfied with the FCA's decision to prohibit P's use of the market maker exemption or the authorised primary dealer exemption, P may seek a review of the decision. This will be conducted by a group of at least three senior FCA staff. None of the group conducting the review will have been connected with the earlier decision taken in respect of P's use of the market maker exemption or the authorised primary dealer exemption. The review may take place after the expiry
SUP 12.7.3GRP
A firm need not notify the FCA of any restrictions imposed on the regulated activities for which the firm has accepted responsibility (under SUP 12.7.2 G (4)) if the firm accepts responsibility for the unrestricted scope of the regulated activities.
SUP 12.7.3AGRP
Where a notification is linked to an application for approval under section 59 of the Act (Approval for particular arrangements), see SUP 10A.13.7 G21.121
SUP 12.7.7RRP
(1) If:434(a) (i) the scope of appointment of an appointed representative is extended to cover insurance mediation activities for the first time; and42(ii) the appointed representative is not included on the Financial Services Register as carrying on insurance mediation activities in another capacity; or42(b) the scope of appointment of an appointed representative ceases to include insurance mediation activity;42the appointed representative's principal must give written notice
SUP 12.7.8RRP
(1) As soon as a firm has reasonable grounds to believe that any of the conditions in SUP 12.4.2 R,SUP 12.4.6 R or SUP 12.4.8A R4 (as applicable) are not satisfied, or are likely not to be satisfied, in relation to any of its appointed representatives, it must complete and submit to the FCA the form in SUP 12 Annex 4 R (Appointed representative notification form), in accordance with the instructions on the form.3(2) In its notification under SUP 12.7.8 R (1), the firm must state
SUP 12.7.8ARRP
(1) 8A firm other than a credit union must submit the form as set out in SUP 12 Annex 4 R online at http://www.fca.org.uk using the FCA's ONAsystem.(2) A credit union must submit the form in SUP 12 Annex 4 R in the way set out in SUP 15.7.4 R to SUP 15.7.9 G (Form and method of notification).(3) Where a firm is obliged to submit an application online under (1), if the FCA's information technology systems fail and online submission is unavailable for 24 hours or more, until such
MAR 8.3.6RRP
A benchmark administrator must:(1) have effective arrangements and procedures that allow the regular monitoring and surveillance of benchmark submissions:(2) monitor the benchmark submissions in order to identify breaches of its practice standards (set out in MAR 8.3.10R (1)) and conduct that may involve manipulation, or attempted manipulation, of the specified benchmark it administers and provide to the oversight committee of the specified benchmark timely updates of suspected
MAR 8.3.9GRP
The oversight committee should be responsible for:(1) considering matters of definition and scope of the specified benchmark;(2) exercising collective scrutiny of benchmark submissions if and when required; and(3) notifying the FCA of benchmark submitters that fail on a recurring basis to follow the practice standards (as set out in MAR 8.3.10R (1)) for the specified benchmark.
MAR 8.3.10RRP
The benchmark administrator through its oversight committee must:(1) develop practice standards in a published code which set out the responsibilities for benchmark submitters, the benchmark administrator, and its oversight committee in relation to the relevant specified benchmark;(2) undertake regular periodic reviews of:(a) the practice standards mentioned in MAR 8.3.10R (1);(b) the setting and definition of the specified benchmark it administers;(c) the composition of benchmark
MAR 8.3.14GRP
MAR 8.3.13 R sets out the minimum amount of financial resources a benchmark administrator must hold in order to carry out administering a specified benchmark. However, the FCA expects benchmark administrators to normally hold sufficient financial resources to cover the operating costs of administering the specified benchmark for a period of nine months.
SUP 18.4.2GRP
Friendly societies are encouraged to discuss a proposed transfer or amalgamation with the appropriate authority2, at an early stage to help ensure that a workable timetable is developed. This is particularly important where there are notification requirements for supervisory authorities in EEA States other than the United Kingdom, or for an amalgamation where additional procedures are required.2
SUP 18.4.23GRP
Under the Friendly Societies Act 1992:(1) when the members of a transferor society have approved the transfer of its engagements by passing a special resolution and the transferee has approved the transfer (by passing a resolution where the transferee is a friendly society); or(2) when two or more societies have approved a proposed amalgamation by passing a special resolution;it, or they jointly, must then obtain confirmation by the appropriate authority2 of the transfer. Notice
SUP 18.4.24GRP
For a directive friendly society, if the transfer or amalgamation includes policies where the state of the risk or the state of the commitment is an EEA State other than the United Kingdom, consultation with the Host State regulator is required and SUP 18.2.25 G to SUP 18.2.29 G apply (for an amalgamation they apply as if the business of the amalgamating societies is to be transferred to the successor society). Paragraph 6(1) of Schedule 15 to the Friendly Societies Act 1992 requires
SUP 18.4.25GRP
The criteria that the appropriate authority2 must use in determining whether to confirm a proposed amalgamation or transfer are set out in schedule 15 to the Friendly Societies Act 1992. These criteria include that:2(1) confirmation must not be given if the appropriate authority2 considers that:2(a) there is a substantial risk that the successor society or transferee will be unable lawfully to carry out the engagements to be transferred to it;(b) information material to the members'
SUP 18.4.29GRP
Written representations, or written notice of a person's intention to make oral representations, or both, are required to reach the appropriate authority2 by the date published in the relevant Gazettes and other newspapers. Those giving notice of intent to make oral representations are advised to state the nature and general grounds of the oral representations they intend to make. Persons who make written representations but subsequently decide also to make oral representations
SUP 18.4.32GRP
Interested parties may be represented and may make collective representations. Such arrangements should be notified to the appropriate authority2 in advance to enable it to make appropriate arrangements.2
SUP 18.4.33GRP
The hearing referred to in SUP 18.4.30 G will be at a time and place that will be notified to the participants and will be conducted by the appropriate authority's2 representatives. The hearing may last longer than one day and may be adjourned. The appropriate authority2 will try to tell participants when they may expect to make their representations and when the society may be expected to respond.22
SUP 15.4.1RRP
(1) An overseas firm, which is not an incoming firm, must notify the appropriate regulator8 within 30 business days of any person taking up or ceasing to hold the following positions:8(a) the firm's worldwide chief executive (that is, the person who, alone or jointly with one or more others, is responsible under the immediate authority of the directors for the whole of its business) if the person is based outside the United Kingdom;(b) the person within the overseas firm with
SUP 15.4.2GRP
SUP 15.4.1 R is not made under the powers conferred on the appropriate regulator8 by Part V of the Act (Performance of Regulated Activities). A person notified to the appropriate regulator8 under SUP 15.4.1 R is not subject to the Statements of Principle or Code of Practice for Approved Persons, unless he is also an approved person.88
SUP 15.4.3GRP
(1) A firm other than a credit union must submit the form in SUP 15 Ann 2 R online 8 using the appropriate regulator's8 ONAsystem.288(2) A credit union must submit the form in SUP 15 Ann 2 R in the way set out in SUP 15.7.4 R to SUP 15.7.9 G (Form and method of notification).2(3) Where a firm is obliged to submit an application online under (1), if the appropriate regulator's8information technology systems fail and online submission is unavailable for 24 hours or more, until such
SUP 15.4.4GRP
If adverse information is revealed about a person notified to the appropriate regulator8 under SUP 15.4.1 R, the appropriate regulator8 may exercise its own-initiative power against the firm (see SUP 7 (Individual requirements)).88
SUP 13.12.1GRP
(1) Given the complexity of issues raised by passporting, UK firms are advised to consult legislation and also to obtain legal advice at earliest opportunity. Firms are encouraged to contact their usual supervisory contact at the appropriate UK regulator5 to discuss their proposals. However, a UK firm which is seeking guidance on procedural or notification issues relating to passporting should contact the FCA and PRA authorisations teams, as and where appropriate.555(2) An applicant
SUP 13.12.2GRP
To contact the FCA and/or PRA authorisations teams, please see the details provided on that regulator's website.5534
SUP 13.8.1RRP
(1) Where a firm is required to submit a4 notice of a change to a branch referred to in 2SUP 13.6.5 G (1), SUP 13.6.5BG (1), 2SUP 13.6.7 G (1), SUP 13.6.8 G2, SUP 13.6.9B R3 and SUP 13.6.10 G (1)or4 a notice of a change to cross border services referred to in2SUP 13.7.3 G (1), SUP 13.7.3AG (1), 2SUP 13.7.5 G (1) and SUP 13.7.6 G2it must complete and submit that notice in accordance with the procedures set out in SUP 13.5 for notifying the establishing of a branch or the provision
SUP 13.8.1AGRP
4The effect of SUP 13.8.1 R (1) is that a firm should submit any form, notice or application under SUP 13.8.1 R (1) in the following ways:(1) A UK firm, other than a credit union, should submit it online at www.fca.org.uk16 using the ONAsystem.1616(2) If the information technology systems fail and online submission is unavailable for 24 hours or more, until such time as facilities for online submission are restored, a firm should submit it in the way set out in SUP 13.5.3 R (3)
SUP 13.8.2GRP
UK firms passporting under the Banking Consolidation Directive or the Insurance Directives may be required to submit the change to details notice2 in the language of the Host State as well as in English. 22
COLL 6.12.3RRP
(1) An authorised fund manager of a UCITS scheme or a UK UCITS management company of an EEA UCITS scheme must use a risk management process enabling it to monitor and measure at any time the risk of the scheme's positions and their contribution to the overall risk profile of the scheme.(2) An authorised fund manager (excluding the EEA UCITS management company of a UCITS scheme) or a UK UCITS management company of an EEA UCITS scheme must regularly notify the following details
COLL 6.12.7RRP
(1) An authorised fund manager of a UCITS scheme or a UK UCITS management company of an EEA UCITS scheme must assess, monitor and periodically review:(a) the adequacy and effectiveness of the risk management policy and of the arrangements, processes and techniques referred to in COLL 6.12.5 R;(b) the level of compliance by the authorised fund manager or the UK UCITS management company with the risk management policy and with those arrangements, processes and techniques referred
REC 3.4.2BRRP
1Where, in relation to a UK RIE a person has resigned as, or has ceased to be, a key individual, that UK RIE must immediately give notice of that event, and give the name of the person.[Note: Article 37(1), paragraph 1, second sentence ofMiFID]
REC 3.4.3GRP
(1) Key individuals include the persons who, under the operational or managerial arrangements of the UK recognised body, are appointed to manage the departments responsible for carrying out its relevant functions, whether or not they are members of its governing body. A person appointed to carry out specific tasks, such as to conduct a particular investigation into a specific set of facts, would not usually be a key individual.(2) A key individual need not be an employee of a
REC 3.4.5RRP
Where the governing body of a UK recognised body delegates any of its functions (which relate to that UK recognised body'srelevant functions) to a standing committee, or appoints a standing committee to manage or oversee the carrying out of any of that UK recognised body'srelevant functions, that UK recognised body must immediately notify the FCA3 of that event and give the FCA3 the following information:33(1) the names of the members of that standing committee; and(2) the terms
REC 3.4.6RRP
Where:(1) there is any change in the composition or the terms of reference of any standing committee referred to in REC 3.4.5 R; or(2) any such committee is dissolved; the UK recognised body must immediately notify the FCA3 of that event and give particulars of any change referred to in (1) to the FCA.333
LR 5.2.5RRP
Subject to 41LR 5.2.7 R, LR 5.2.10 R and LR 5.2.12 R, 1an issuer with a premium listing4that wishes the FCA to cancel the listing of any of its 5equity shares1with a premium listing4must:1114(1) send a circular to the holders of the securities. The circular must:(a) comply with the requirements of LR 13.3.1 R and LR 13.3.2 R (contents of all circulars);(b) be submitted to the FCA for approval prior to publication; and(c) include the anticipated date of cancellation (which must
LR 5.2.7RRP
LR 5.2.5 R (2) will not apply where an issuer of equity shares1 notifies a RIS:44415(1) that the financial position of the issuer or its group is so precarious that, but for the proposal referred to in LR 5.2.7 R (2), there is no reasonable prospect that the issuer will avoid going into formal insolvency proceedings;(2) that there is a proposal for a transaction, arrangement or other form of reconstruction of the issuer or its group which is necessary to ensure the survival
LR 5.2.8RRP
An issuer that wishes the FCA to cancel the listing of listed securities (other than equity shares1with a premium listing41) must notify a RIS, giving at least 20 business days notice of the intended cancellation but is not required to obtain the approval of the holders of those securities contemplated in LR 5.2.5 R (2).1544
LR 5.2.9RRP
Issuers with debt securities falling under LR 5.2.8 R must also notify, in accordance with the terms and conditions of the issue of those securities, holders of those securities or a representative of the holders, such as a trustee, of intended cancellation of those securities, but the prior approval of the holders of those securities in a general meeting need not be obtained.
DISP 1.10.3GRP
For the purpose of DISP 1.10.2 R and DISP 1.10.2A R,4 when completing the return, the firm should take into account the following matters.(1) If a complaint could fall into more than one category, the complaint should be recorded in the category which the firm considers to form the main part of the complaint.(2) Under DISP 1.10.2R (3)(a), a firm should report any complaint to which it has given a response 1which upholds the complaint, even if any redress offered is disputed by
DISP 1.10.6RRP
If a firm is unable to submit a report in electronic format because of a systems failure of any kind, the firm must notify the FCA , in writing and without delay, of that systems failure.
DISP 1.10.6ARRP
(1) 5If a firm does not submit a complete report by the date on which it is due, in accordance with DISP 1.10.5 R, the firm must pay an administrative fee of £250.(2) The administrative fee in (1) does not apply if the firm has notified the FCA of a systems failure in accordance with DISP 1.10.6 R.
DISP 1.10.9RRP
For the purpose of inclusion in the public record maintained by the FCA, a firm must:(1) provide the FCA, at the time of its authorisation, with details of a single contact point within the firm for complainants; and(2) notify the FCA of any subsequent change in those details when convenient and, at the latest, in the firm's next report under the complaints reporting rules.
SUP 13.4.2GRP
A UK firm, other than a UK pure reinsurer,9 cannot start providing cross border services into another EEA State under an EEA right unless it satisfies the conditions in paragraphs 20(1) of Part III of Schedule 3 to the Act and, if it derives its EEA right from the Insurance Directives, paragraph 20(4B) of Part III of Schedule 3 to the Act. It is an offence for a UK firm which is not an authorised person to breach this prohibition (paragraph 21 of Part III of Schedule 3 to the
SUP 13.4.4GRP
8(1) If8 the UK firm'sEEA right derives from MiFID8, the Banking Consolidation Directive or the UCITS Directive, paragraph 20(3) of Part III of Schedule 3 to the Act requires the appropriate UK regulator20 to send a copy of the notice of intention8 to the Host State Regulator within one month8 of receipt.8A UK firm passporting under the Banking Consolidation Directive10 may start providing cross border services as soon as it satisfies the relevant conditions (see SUP 13.4.2 G).8882088810(2)
REC 3.6.1RRP
Where a UK recognised body is to circulate any notice or other document proposing any amendment to its memorandum or articles of association (or other similar agreement or document relating to its constitution) to:(1) its shareholders (or any group or class of them); or(2) its members (or any group or class of them); or(3) any other group or class of persons which has the power to make that amendment or whose consent or approval is required before it may be made;that UK recognised
REC 3.6.4RRP
Where a UK recognised body makes an amendment to its memorandum or articles of association (or other similar agreement or document relating to its constitution), that UK recognised body must immediately give the FCA1notice of that event, and give written particulars of that amendment and of the date on which it is to become or became effective.1
REC 3.6.6RRP
Where any change is made to an agreement which relates to the constitution or governance of a UK recognised body:(1) between that UK recognised body and another person; or(2) between the owners of that UK recognised body; or(3) between the owners of that UK recognised body and another person; or(4) between other persons; that UK recognised body must give the FCA1notice of that event as soon as it is aware of it, and give written particulars of that change and of the date on which
FEES 4.3.7RRP
A firm which is a member of a group may pay all of the amounts due from other firms in the same group under FEES 4.2.1 R, if:(1) it notifies the FCA (in its own capacity and, if applicable, in its capacity as agent for the PRA)26 in writing of the name of each other firm within the group for which it will pay; and26(2) it pays the fees, in accordance with this chapter, as a single amount as if that were the amount required from the firm under FEES 4.2.1 R.
FEES 4.3.8GRP
A notification under FEES 4.3.7R (1) should be made in accordance with SUP 15.7 (Form and method of notification).
FEES 4.3.9GRP
If the payment made does not satisfy in full the periodic fees payable by all of the members of the group notified to the FCA26 under FEES 4.3.7 R, the FCA (in its own capacity and, if applicable, in its capacity as agent for the PRA)26 will apply the sum received among the firms which have been identified in the notification given under FEES 4.3.7R (1) in proportion to the amounts due from them. Each firm will remain responsible for the payment of the outstanding balance attributable
FEES 4.3.10GRP
If a firm pays its fees through an agent outside the scope of FEES 4.3.7 R, the firm is responsible for ensuring that the FCA (in its own capacity and, if applicable, in its capacity as agent for the PRA)26 is informed that the sum being paid is for that firm's periodic fees.26
FEES 4.3.13RRP
(1) If:(a) a firm makes an application to vary its permission (by reducing its scope), or cancel it, in the way set out in SUP 6.3.15 D (3) (Variation of permission) and SUP 6.4.5 D (Cancellation of permission), or applies to vary (by reducing its scope) or cancel its authorisation or registration (regulation 8 and 10(1) of the Payment Services Regulations including as applied by regulation 14 of the Payment Services Regulations) or applies to cancel its authorisation or registration
REC 3.15.1GRP
(1) The purpose of REC 3.15.2 R to REC 3.15.5 G is to enable the FCA3 to obtain information where a UK recognised body decides to suspend the provision of its services in relation to particular investments or (for an RAP) decides to cancel an auction.2 Planned changes to the provision of services should be notified to the FCA3under REC 3.14.33(2) REC 3.15.6 R to REC 3.15.7 R provide for notification to the FCA3where a UK recognised body is unable to operate or provide its facilities
REC 3.15.6RRP
Where, because of the occurrence of any event or circumstances, a UK recognised body is unable to operate any of its facilities within its normal hours of operation, it must immediately give the FCA3notice of that inability and inform the FCA:333(1) which facility it is unable to operate; (2) what event or circumstance has caused it to become unable to operate that facility within those hours; and(3) what action, if any, it is taking or proposes to take to enable it to recommence
REC 3.15.8RRP
2Where an RAP has to cancel an auction in the circumstances set out in articles 7(5) or 7(6) of the auction regulation, it must immediately give the FCA3notice of that cancellation.3
REC 3.15.9GRP
2Under article 7(7) of the auction regulation, an RAP is required to notify the FCA3of:3(1) the methodology used to determine the application of article 7(6) of the auction regulation; and(2) modifications to that methodology made between bidding windows.
FEES 4.4.1RRP
A firm (other than the Society ) must notify to the FCA (in its own capacity and, if applicable, in its capacity as collection agent for the PRA) the value (as at the valuation date specified in Part 5 of FEES 4 Annex 1AR in relation to fees payable to the FCA or Part 5 of FEES 4 Annex 1BR in relation to fees payable to the PRA)15 of each element of business on which the periodic fee payable by the firm is to be calculated.
FEES 4.4.7DRP
3A fee-paying payment service provider and a fee-paying electronic money issuer4 must notify to the FCA the value (as at the valuation date specified in Part 4 of FEES 4 Annex 11) of each element of business on which the periodic fee (other than a flat fee)4 payable by the firm under 1 R4 is to be calculated, including any payment services carried on by its agents from an establishment in the United Kingdom. 4
FEES 4.4.9DRP
3To the extent that a firm4 has provided the information required by FEES 4.4.7 D to the FCA as part of its compliance with another provision of the Handbook, it is deemed to have complied with the provisions of that direction.444
SUP 11.9.1ARRP
6(1) A firm must notify the FCA that it has become or ceased to be closely linked with any person. The notification must be made by completing the Close Links Notification Form (see SUP 11.9.3B G) and must include the information set out in SUP 16.5.4 R (4).(2) If a group includes more than one firm, a single close links notification may be made by completing the Close Links Notification Form and so satisfy the notification requirement for all firms in the group. Nevertheless,
SUP 11.9.3-AGRP
6The FCA may ask the firm for additional information following a notification under SUP 11.9.1A R in order to satisfy itself that the firm continues to satisfy the threshold conditions (see SUP 2: Information gathering by the FCA and PRA on their own initiative).
FEES 3.2.5GRP
(1) (2) With the exception of persons seeking to become a designated professional body, all applications, notifications, requests for vetting or admission approval will be treated as incomplete until the relevant fee is fully paid and the appropriate regulator will not consider an application, notification, request for vetting or admission approval until the relevant fee is fully paid. Persons seeking to become a designated professional body have 30 days after the designation