Related provisions for BIPRU 2.3.11

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SUP 15.5.7RRP
A firm must notify the appropriate regulator10 immediately if it becomes subject to or ceases to be subject to the supervision of any overseas regulator (including a Home State regulator). 10
SUP 15.5.8GRP
The appropriate regulator's10 approach to the supervision of a firm is influenced by the regulatory regime and any legislative or foreign provisions to which that firm, including its branches, is subject. 10
BIPRU 8.5.13GRP
If several undertakings meet the criteria in BIPRU 8.5.11G (2), the appropriate regulator will not agree to a waiver to exclude them all from consolidation where collectively they are of non-negligible interest with respect to the objectives of the supervision of institutions.
BIPRU 8.5.14GRP
The appropriate regulator may require a firm to provide information about the undertakings excluded from consolidation of the UK consolidation group or non-EEA sub-group pursuant to this section.
SUP 15.7.7GRP
If the firm or its group is subject to lead supervision arrangements by the appropriate regulator,7 the firm or group may give or address a notice under SUP 15.7.4 R(1) to the supervisory contact at the appropriate regulator,7 designated as lead supervisor, if the firm has chosen to make use of the lead supervisor as a central point of contact (see SUP 1.5).77
SUP 15.7.14GRP
The appropriate regulator7 has made arrangements with the Society of Lloyd's with respect to the monitoring of underwriting agents. Underwriting agents should check whether these arrangements provide for any notifications required under this chapter to be sent to the Society instead of to the appropriate regulator.7 [For further details see the appropriate regulator's7 website.]777
BIPRU 12.2.18GRP
After completing a review of the ILAA as part of the SLRP, the appropriate regulator will give a standard ILAS BIPRU firmindividual liquidity guidance, advising it of the amount and quality of liquidity resources which the appropriate regulator considers are appropriate having regard to the liquidity risk profile of the firm. In giving individual liquidity guidance, the appropriate regulator will also advise the firm of what it considers to be a prudent funding profile for the
BIPRU 12.2.19GRP
BIPRU 12.5 sets out in greater detail the appropriate regulator'sILAS regime. BIPRU 12.9 sets out in greater detail the appropriate regulator's process for issuing an ILAS BIPRU firm with individual liquidity guidance and its approach to monitoring a firm's adherence to that guidance or, as the case may be, to the simplified buffer requirement.
SUP 11.5.4GRP
Firms are reminded that a change in control may give rise to a change in the groupcompanies to which the appropriate regulator's7 consolidated financial supervision requirements apply. Also, the firm may for the first time become subject to the appropriate regulator's7 requirements on consolidated financial supervision (or equivalent requirements imposed by another EEA State). This may apply, for example, if the controller is itself an authorised undertaking. The appropriate regulator7
SUP 11.5.4AGRP
Firms are also reminded that a change in control may give rise to a notification as a financial conglomerate or a change in the supplementary supervision of a financial conglomerate (see GENPRU 3.14(Cross sector groups) and GENPRU 3.24(Third country groups)). 144
SYSC 9.1.1RRP
A firm must arrange for orderly records to be kept of its business and internal organisation, including all services and transactions undertaken by it, which must be sufficient to enable the appropriate regulator or any other relevant competent authority under MiFID or the UCITS Directive4 to monitor the firm's compliance with the requirements under the regulatory system, and in particular to ascertain that the firm has complied with all obligations with respect to clients.[Note: article
SUP 5.4.2GRP
As part of the decision making process the appropriate regulator2 will normally contact the person in SUP 5.2.1 G or in SUP 5.2.2 G2 to discuss its needs before finalising its decision to require a report or the updating or collection of information by a skilled person. This will provide an opportunity for discussion about the appointment, whether an alternative means of obtaining the information would be better, what the scope of a report should be, who should be appointed,
SUP 5.4.11GRP
The appropriate regulator2 may enter into a dialogue with the skilled person, and is ready to discuss matters relevant to the report or the collection or updating of the relevant information2 with him, during the preparation of the report or the collection or updating of the relevant information.2 Such discussions may2 involve or be through the person in SUP 5.2.1 G or SUP 5.2.2 G.222
SUP 16.5.2GRP
A firm is required to notify the appropriate regulator of changes to its close links (see SUP 11.9). The effective supervision threshold conditions provide that, if a firm has close links with another person, the matters which are relevant in determining whether a firm satisfies the condition of being capable of being effective supervised include:1111(1) the nature of the relationship between the firm and that person;1111(2) whether those links or that relationship are likely
SUP 16.5.3GRP
The purposes of the rules and guidance in this section are:(1) to ensure that, in addition to such notifications, the appropriate regulator11 receives regular and comprehensive information about the identities of all persons with whom a firm has close links, which is relevant to a firm's continuing to satisfy the effective supervision threshold conditions11 and to the protection of consumers; and1111(2) to implement certain requirements relating to the provision of information
BIPRU 3.4.6RRP
When the competent authorities of a third country which apply supervisory and regulatory arrangements at least equivalent to those applied in the EEA assign a risk weight which is lower than that indicated in BIPRU 3.4.1 R to BIPRU 3.4.3 R to exposures to their central government and central bank denominated and funded in the domestic currency, a firm may risk weight such exposures in the same manner.[Note: BCD Annex VI Part 1 point 5]
BIPRU 3.4.19RRP
When competent authorities of a third country jurisdiction which apply supervisory and regulatory arrangements at least equivalent to those applied in the EEA treat exposures to regional governments and local authorities as exposures to their central government, a firm may risk weightexposures to such regional governments and local authorities in the same manner.[Note: BCD Annex VI Part 1 point 11]
BIPRU 3.4.32RRP
Without prejudice to BIPRU 3.4.33 R to BIPRU 3.4.47 R, exposures to financial institutions authorised and supervised by the competent authorities responsible for the authorisation and supervision of credit institutions and subject to prudential requirements equivalent to those applied to credit institutions must be risk weighted as exposures to institutions.[Note: BCD Annex VI Part 1 point 24]
TC 1.1.3GRP
The competent employees rule is the main Handbook requirement relating to the competence of employees. The purpose of this sourcebook is to support the FCA's supervisory function by supplementing the competent employees rule for retail activities.
SUP 16.2.1GRP
(1) In order to discharge its functions under the Act, the appropriate regulator7 needs timely and accurate information about firms. The provision of this information on a regular basis enables the appropriate regulator7 to build up over time a picture of firms' circumstances and behaviour.7(2) Principle 11 requires a firm to deal with its regulators in an open and cooperative way, and to disclose to the appropriate regulator7 appropriately anything relating to the firm of which
SUP 3.5.4GRP
The appropriate regulator will regard an auditor as independent if his appointment or retention does not breach the ethical guidance in current issue from the auditor's recognised supervisory body on the appointment of an auditor in circumstances which could give rise to conflicts of interest.
MAR 6.4.2GRP
The notification under MAR 6.4.1 R can be addressed to the firm's usual supervisory contact at the FCA .
REC 4.9.2GRP
(1) Under section 192K of the Act, if the FCA considers that a qualifying parent undertaking of a UK RIE has contravened a requirement of a direction given by the FCA under section 192C of the Act, or a provision of rules made by the FCA under section 192J of the Act, it may:(a) impose a penalty of such amount as it considers appropriate on the qualifying parent undertaking of the UK RIE, or any person who was knowingly concerned in the contravention; or(b) publish a statement
SUP 15A.1.4GRP
The FCA may require any information referred to in SUP 15A.1.1 G to SUP 15A.1.3 G above to be provided in such form, or to be verified in such as a way, as the FCA may reasonably direct.
SUP 14.8.1GRP
For further guidance on passporting procedures, an incoming EEA firm may1 contact the FCA or PRA authorisations team,1 or their usual supervisory contact at the appropriate UK regulator1. Incoming Treaty firms and UCITS qualifiers may1 speak to their supervisory contact at the appropriate UK regulator1 in the first instance1111
SUP 7.1.4GRP
The FCA2, in the course of its supervision of a firm, may sometimes judge it necessary or desirable to impose additional requirements on a firm or in some way amend or restrict the activities which the firm has permission to undertake. The guidance in this chapter describes when and how the FCA2 will seek to do this.22
REC 6.8.1GRP
The FCA1 has similar powers to supervise ROIEs1 to those it has to supervise UK RIEs1. It may (in addition to any other powers it might exercise):111(1) give directions to an ROIE1 under section 296 of the Act (Authority's power to give directions) if it has failed, or is likely to fail, to satisfy the recognition requirements or if it has failed to comply with any other obligation imposed by or under the Act; or1(2) revoke a recognition order under section 297 of the Act (Revoking
REC 6.1.2GRP
Having the status of an ROIE2 facilitates the participation of overseas investment exchanges in UKmarkets. In comparison with authorisation, it reduces the involvement which UK authorities need to have in the day-to-day affairs of an overseas recognised body because they are able to rely substantially on the supervisory and regulatory arrangements in the country where the applicant's head office is situated.22