Related provisions for PERG 2.3.3
1 - 19 of 19 items.
A firm authorised under Part 4A8 of the Act (Permission to carry on regulated activity) has a single Part 4A permission8 granted by the FCA or the PRA. A firm'sPart 4A permission8 specifies all or some of the following elements (see PERG 2 Annex 2 (Regulated activities and the permission regime) and the information online at the FCA and PRA websites):8888338(1) a description of the activities the firm may carry on, including any limitations;(2) the specified investments involved;
(1) 1The FCA2will seek to deprive a firm of the financial benefit derived directly from the breach (which may include the profit made or loss avoided) where it is practicable to quantify this. The FCA2 will ordinarily also charge interest on the benefit.22(2) Where the success of a firm’s entire business model is dependent on breachingFCArules2 or other requirements of the regulatory system and the breach is at the core of the firm’s regulated activities, the FCA2 will seek to
The FCA3 would be likely to consider the conditions in REC 4.7.3 G (2) or REC 4.7.3 G (3) to be triggered1in the following circumstances:31(1) the recognised body appears not to have the resources or management to be able to organise its affairs so as to satisfy one or more of the recognised body requirements; or212(2) the recognised body does not appear to be willing to satisfy one or more of the recognised body requirements; or212(3) the recognised body is failing or has failed
2The FCA3 will seek to deprive an individual of the financial benefit derived directly from the breach (which may include the profit made or loss avoided) where it is practicable to quantify this. The FCA3 will ordinarily also charge interest on the benefit. Where the success of a firm’s entire business model is dependent on breaching FCA3rules or other requirements of the regulatory system and the individual’s breach is at the core of the firm’s regulated activities, the FCA3