Related provisions for SUP 7.1.1

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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
PERG 5.13.1GRP
Section 39 of the Act (Exemption of appointed representatives) exempts appointed representatives from the need to obtain authorisation. An appointed representative is a person who is party to a contract with an authorised person which permits or requires him to carry on certain regulated activities (see Glossary for full definition). SUP 12 (Appointed representatives) contains rules and guidance relating to appointed representatives.
PERG 5.13.2GRP
A person who is an authorised person cannot be an appointed representative (see section 39(1) of the Act (Exemption of appointed representatives)).
PERG 5.13.6GRP
Where a person is already an appointed representative and he proposes to carry on any insurance mediation activities, he will need to consider the following matters.(1) He must become authorised if his proposed insurance mediation activities include activities that do not fall within the table in PERG 5.13.4 G (for example, dealing as agent in pure protection contracts) and he wishes to carry on these activities. The Act does not permit any person to be exempt for some activities
GENPRU 2.2.69FGRP
(1) 8In relation to the cancellation or deferral of the payment of a coupon in accordance with GENPRU 2.2.64R (4) and GENPRU 2.2.64R (5), GENPRU 2.2.68A R, or GENPRU 2.2.69B R, the appropriate regulator expects that situations where a coupon may need to be cancelled or deferred will be resolved through analysis and discussion between the firm and the appropriate regulator. If the appropriate regulator and the firm do not agree on the cancellation or deferral of the payment
GENPRU 2.2.93RRP
Eligible partnership capital means a partners' account:(1) into which capital contributed by the partners is paid; and(2) from which under the terms of the partnership agreement an amount representing capital may be withdrawn by a partner only if:(a) he ceases to be a partner and an equal amount is transferred to another such account by his former partners or any person replacing him as their partner;2(b) the partnership is wound up or2 otherwise dissolved; or22(c) the BIPRU firm
GENPRU 2.2.94RRP
Eligible LLP members' capital means a members' account:(1) into which capital contributed by the members is paid; and(2) from which under the terms of the limited liability partnership agreement an amount representing capital may be withdrawn by a member only if:(a) he ceases to be a member and an equal amount is transferred to another such account by his former fellow members or any person replacing him as a member; 2(b) the limited liability partnership is wound up or2 otherwise
GENPRU 2.2.117CGRP
(1) 8The effects of the mechanisms described in GENPRU 2.2.117A R will be more meaningful if they happen immediately after losses cause a significant deterioration of the financial as well as the solvency situation and even before the reserves are exhausted.(2) If a firm does not operate the loss absorption mechanism in a prudent and timely way, then the appropriate regulator may consider using its powers under 55J of the Act to, on its own initiative, vary the firm'sPart 4A
FEES 1.1.1GRP
149FEES applies to all persons required to pay a fee or levy under a provision of the Handbook. The purpose of this chapter is to set out to whom the rules and guidance in FEES apply. FEES 2 (General Provisions) contains general provisions which may apply to any type of fee payer. FEES 3 (Application, Notification and Vetting Fees) covers one-off fees payable on a particular event for example various application fees (including those in relation to authorisation, variation of
FEES 1.1.2RRP
This manual applies in the following way:(1) FEES 1, 2 and 3 apply to the fee payers listed in column 1 of the Table of application, notification and vetting fees in FEES 3.2.7 R. and FEES 3.2.7A R.4810(a) [deleted]1010(b) [deleted]1010(c) [deleted]1010(d) [deleted]1010(e) [deleted]10(f) [deleted]1010(g) [deleted]1010(h) [deleted]1010(i) [deleted]1010(j) [deleted]1010(k) [deleted]1010(l) [deleted]1010(m) [deleted]1010(n) [deleted]104(o) 3345410[deleted]10(p) 55410[deleted]10(q)
PRIN 1.1.4GRP
In substance, the Principles express the main dimensions of the "fit and proper" standard set for firms in threshold condition 5 (Suitability), although they do not derive their authority from that standard or exhaust its implications. Being ready, willing and organised to abide by the Principles is therefore a critical factor in applications for Part 4A permission, and breaching the Principles may call into question whether a firm with Part 4A permission is still fit and pro
PRIN 1.1.8GRP
The Principles are also relevant to the FCA's15 powers of information-gathering, to vary a firm'sPart 4A permission,15 and of investigation and intervention, and provide a basis on which the FCA15 may apply to a court for an injunction or restitution order or require a firm to make restitution. However, the Principles do not give rise to actions for damages by a private person (see PRIN 3.4.4 R).151515
COND 1.2.1GRP
COND gives guidance on the threshold conditions. The FCA3threshold conditions represent the minimum conditions for which the FCA is responsible,3 which a firm is required to satisfy, and continue to satisfy, in order to be given and to retainPart 4A permission. A PRA-authorised person or, as appropriate, a firm seeking to become a PRA-authorised person must also satisfy, and continue to satisfy, the threshold conditions for which the PRA is responsible in order to be given and
COND 1.2.2GRP
(1) Under section 55B(3) of the Act3, in giving or varying a Part 4A permission,3 imposing or varying any requirement or giving consent3, the FCA3 must ensure that the firm concerned will satisfy, and continue to satisfy, the FCA3threshold conditions in relation to all of the regulated activities for which it has or will have permission.(2) If, however, the applicant for permission is an incoming firm seeking top-up permission, or variation of top-up permission, under Part 4A3
COND 1.3.2GRP
(1) The FCA1 will consider whether a firm satisfies, and will continue to satisfy, the FCA1threshold conditions in the context of the size, nature, scale and complexity of the business which the firm carries on or will carry on if the relevant application is granted.1(2) In relation to threshold conditions set out in paragraphs 2D to 2F of Schedule 6 to the Act in respect of firms which are not PRA-authorised persons and paragraphs 3C to 3E of Schedule 6 to the Act in respect
COND 1.3.3EGRP
1Notes on the contents of a business plan are given in the business plan section of the application pack for Part 4A permission on the FCA's website.
MIPRU 3.2.2GRP
The minimum limits of indemnity for a firm whose Part 4A permission covers both insurance mediation activity and home finance mediation activity1is the higher of the limits of indemnity for these activities. If the firm opts for a single comparable guarantee to finance the claims which might arise as a result of both activities, the requirements for insurance mediation activity apply.1
MIPRU 3.2.4RRP
The contract of professional indemnity insurance must incorporate terms which make provision for:(1) cover in respect of claims for which a firm may be liable as a result of the conduct of itself, its employees and its appointed representatives (acting within the scope of their appointment);(2) the minimum limits of indemnity per year set out in this section;(3) an excess as set out in this section;(4) appropriate cover in respect of legal defence costs;(5) continuous cover in
CREDS 1.1.2GRP
(1) CREDS covers only the requirements associated with a Part 4A permission to accept deposits. The Conduct of Business sourcebook (COBS) sets out additional requirements for credit unions that are CTF providers in relation to cash deposit CTFs.(2) Other permissions are covered elsewhere in the Handbook. So, for example, a credit union seeking a permission to undertake a regulated mortgage activity would need to comply with the requirements in the Mortgages and Home Finance: Conduct
CREDS 1.1.4GRP
CREDS sets out rules and guidance that are specific to credit unions. CREDS 10 refers to other more generally applicable provisions of the Handbook that are likely to be relevant to credit unions with Part 4A permission to accept deposits. For details of these provisions, we would expect credit unions to access the full text in the Handbook.
PERG 5.11.1GRP
This part of the guidance deals with:(1) exclusions which are disapplied where the regulated activity relates to contracts of insurance;(2) exclusions which are disapplied where a person carries on insurance mediation; and(3) the following exclusions applying to more than one regulated activity:(a) activities carried on in the course of a profession or non-investment business (article 67 (Activities carried on in the course of a profession or non-investment business));(b) activities
PERG 5.11.4GRP
The restrictions placed on the exclusions listed in PERG 5.11.3 G on 14 January 2005 have the following effects.(1) Unauthorised persons who:(a) introduce clients or customers to an independent financial adviser with a view to a transaction; or(b) deal as agent on behalf of their clients or customers with or though an authorised person; or(c) arrange for their clients or customers to enter into a transaction with or though an authorised person;will not be able to rely on articles
DISP 1.10.1RRP
Twice a year a firm must provide the FCA with a complete report concerning complaints received from eligible complainants. The report must be set out in the format in DISP 1 Annex 1.
PERG 2.2.3GRP
Any person who is concerned that his proposed activities may require authorisation will need to consider the following questions (these questions are a summary of the issues to be considered and have been reproduced, in slightly fuller form in the decision tree in PERG 2 Annex 1 G):(1) Will I be carrying on my activities by way of business (see PERG 2.3)?(2) Will I be managing the assets of an occupational pension scheme (see PERG 2.3.2G (3))?(3) If the answer is 'Yes' to (1)
PERG 2.2.5GRP
The process of applying for Part 4A permission is available on the FCA website How do I get authorised:http://www.fca.org.uk/firms/about-authorisation/getting-authorised2. But a list of the activities for which permission may be given is annexed to this chapter (see PERG 2 Annex 2 G). You may find this helpful in providing an overview of the activities that are regulated. The list is included here because, with some exceptions, the investments and activities for which permission
SUP 7.3.1GRP
The FCA5 expects to maintain a close working relationship with certain types of firm and expects that routine supervisory matters arising can be resolved during the normal course of this relationship by, for example, issuing individual guidance where appropriate (see SUP 9.3). However, where the FCA deems it appropriate, it will exercise its own-initiative powers:55(1) in circumstances where it considers it appropriate for the firm to be subject to a formal requirement, breach
SUP 7.3.2GRP
The FCA 5 may also5 seek to exercise its own-initiative powers in certain situations,5 including the following:55(1) If the FCA5 determines that a firm's management, business or internal controls give rise to material risks that are not fully addressed by existing requirements, the FCA5may seek to use its own-initiative powers.555(2) If a firm becomes or is to become involved with new products or selling practices which present risks not adequately addressed by existing requirements,
GENPRU 3.2.8RRP
If the Part 4A permission of a firm contains a requirement obliging it to comply with this rule with respect to a third-country financial conglomerate of which it is a member, it must comply, with respect to that third-country financial conglomerate, with the rules in Part 1 of GENPRU 3 Annex 2, as adjusted by Part 3 of that annex.
GENPRU 3.2.9RRP
If the Part 4A permission of a firm contains a requirement obliging it to comply with this rule with respect to a third-country banking and investment group of which it is a member, it must comply, with respect to that third-country banking and investment group, with the rules in Part 2 of GENPRU 3 Annex 2, as adjusted by Part 3 of that annex.
GEN 4.5.6AGRP
4As well as potentially breaching the requirements in this section, misleading statements by a firm may involve a breach of Principle 7 (Communications with clients) or section Part 7 (Offences relating to financial services) of the Financial Services Act 2012, as well as giving rise to private law actions for misrepresentation.
SUP 18.4.9GRP
For an amalgamation the successor society, and for a transfer the transferee, may need to apply for permission, or to vary its permission, under Part 4A2 of the Act. The regulators2 will need sufficient time before a transfer is confirmed2 to consider whether any necessary permission or variation should be given. If the transferee is an EEA firm or a Swiss general insurance company, then confirmation will be needed from its Home State regulator that it meets the Home State's solvency
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 18.4.26GRP
If authorisation or a Part 4A permission2 is needed, the appropriate authority2 will need to consider the application for authorisation or permission in the usual way. If the authorisation or permission is refused, confirmation cannot be given even if all the other criteria are met.222
SUP 16.12.11RRP

The applicable data items referred to in SUP 16.12.4 R are set out according to firm type in the table below:

Description of data item11

11

Firms' prudential category and applicable data items(note 1)15

BIPRU firms (note 17)2

Firmsother thanBIPRU firms

730K

125K andcollective portfolio management investment firms38

38

50K

IPRU(INV)2Chapter 3

IPRU(INV)2Chapter 5

IPRU(INV)2Chapter 9

IPRU(INV)2Chapter 13

UPRU

Annual report and accounts11

11

No standard format

No standard format (note 19)2

No standard format2

No standard format3

11

No standard format3

Annual report and accounts11 of the mixed-activity holding company (note 10)

11

No standard format

Solvency statement

No standard format (note 11)

No standard format (note 20)

No standard format (note 11)2

No standard format (note 11)5

Balance sheet

FSA001 (note 2)

FSA001 (note 2)

FSA001 (note 2)

FSA029 (note 18)112

FSA0292

11

FSA0292

FSA029 (note 1511)2 or Section A RMAR (note 1511)3

1111

FSA0292

11

Income statement

FSA002 (note 2)

FSA002 (note 2)

FSA002 (note 2)

FSA030 (note 18)2

11

FSA0302

11

FSA0302

FSA030 (note 1511)2 or Section B RMAR (note 1511)3

1111

FSA0302

11

Capital adequacy

FSA003 (note 2)

FSA003 (note 2)

FSA003 (note 2)

FSA033 (note 18)2

11

FSA034 or FSA035 (note 14)2

11

FSA0312

FSA032 (note 15) 2 or Sections D1 and D2 RMAR (note 1511)3

1111

FSA036238

11

38Supplementary capital data for collective portfolio management investment firms

FIN067 (note 35)

Credit risk

FSA004 (notes 2, 3)

FSA004 (notes 2, 3)

FSA004 (notes 2, 3)

Market risk

FSA005 (notes 2, 4)

FSA005 (notes 2, 4)

FSA005 (notes 2, 4)

Market risk - supplementary

FSA006 (note 5)

FSA006 (note 5)

FSA006 (note 5)

Operational risk

FSA007 (notes 2, 6, 7)

FSA007 (notes 2, 6, 7)

FSA007 (notes 2, 6, 7)

Large exposures

FSA008 (Notes 2, 6)15

FSA008 (Notes 2, 6)15

FSA008 (Notes 2, 6)15

UK integrated group large exposures

FSA018 (note 12)

FSA018 (note 12)

FSA018 (note 12)

Solo consolidation data

FSA016 (note 25)11

FSA016 (note 25)11

FSA016 (note 25)11

Pillar 2 questionnaire

FSA019 (note 8)

FSA019 (note 8)

FSA019 (note 8)

Non-EEA sub-group

FSA028 (note 9)

FSA028 (note 9)

FSA028 (note 9)

3Threshold conditions

Section F RMAR (Note 15)243

24

2Client money and client assets

FSA039

FSA039

FSA039

FSA039 (note 18)

FSA039

FSA039

Section C RMAR (Note 15)24 or 3FSA039

24

FSA039

2CFTC

FSA040

(note 24)11

FSA040

(note 24)11

FSA040

(note 24)11

FSA040

(note 24)11

FSA040

(note 24)11

FSA040

(note 24)11

FSA040

(note 24)11

FSA040

(note 24)113

6IRB portfolio risk

FSA045 (note 22)

FSA045 (note 22)

FSA045 (note 22)

6Securitisation: non-trading book15

FSA046 (note 23)

FSA046 (note 23)

FSA046 (note 23)

13Daily Flows

FSA047 (Notes 26, 29 , 31 and 33)21

21

13Enhanced Mismatch Report

FSA048 (Notes 26, 29, 31 and 33)21

21

13Liquidity Buffer Qualifying Securities

FSA050 (Notes 27, 30, 31 and 33)21

21

13Funding Concentration

FSA051 (Notes 27, 30, 31 and 33)21

21

13Pricing data

FSA052 (Notes 27, 31, 33 and 34)2122

21

13Retail and corporate funding

FSA053 (Notes 27, 30, 31 and 33)21

21

13Currency Analysis

FSA054 (Notes 27, 30, 31 and 33)21

21

13Systems and Controls Questionnaire

FSA055 (Notes 28 and 33)21

21

15Securitisation: trading book

FSA058 (Note 32)

FSA058 (Note 32)

FSA058 (Note 32)

Note 1

When submitting the completed data item required, a firm must use the format of the data item set out in SUP 16 Annex 24. Guidance notes for completion of the data items are contained in SUP 16 Annex 25.

Note 2

Firms11 that are members of a UK consolidation group are also required to submit this report on a UK consolidation group basis.

1111

Note 3

This applies to a firm that is required to submit data item FSA003 and, at any time within the 12 months up to its latest accounting reference date ("the relevant period"), was reporting data item FSA004 ("Firm A") or not reporting this item ("Firm B").

In the case of Firm A it must report this data item if one or both of its last two submissions in the relevant period show that the threshold was exceeded.

In the case of Firm B it must report this item if both the last two submissions in the relevant period show that the threshold has been exceeded.11

The11threshold is exceeded where 11data element 77A in data item FSA003 is greater than £10 million, or its currency equivalent, at the relevant 11reporting date for the firm.

11111111

Note 4

This applies to a firm that is required to submit data item FSA003 and, at anytime within the 12 months up to its latest accounting reference date ("the relevant period"), was reporting data item FSA005 ("Firm A") or not reporting this item ("Firm B").

In the case of Firm A it must report this data item if one or both of its last two submissions in the relevant period show that the threshold was exceeded.

In the case of Firm B it must report this item if both the last two submissions in the relevant period show that the threshold has been exceeded.

The11 threshold is exceeded where data element 93A in data item FSA003 is greater than £50 million, or its currency equivalent, at the relevant 11reporting date for the firm11.

111111

Note 5

Only applicable to firms with a VaR model permission.11

1111

Note 6

This will not be applicable to BIPRU limited activity firms or BIPRU limited licence firms unless they have a waiver under BIPRU 6.1.2 G.

Note 7

This is only applicable to a firm that has adopted, in whole or in part,either the standardised approach, alternative standardised approach, or advanced measurement approach underBIPRU 611

11

Note 8

Only applicable to BIPRU investment firms5 that:

(a) are subject to consolidated supervision under BIPRU 8, except those that are either included within the consolidated supervision of a group that includes a UK credit institution, or that have been granted an investment firm consolidation waiver; or11

(b) have been granted an investment firm consolidation waiver;or11

(c) are 11not subject to consolidated supervision under BIPRU 8.

A BIPRU investment firm5 under (a) must11complete the report on the basis of its UK consolidation group. A BIPRU investment firm5 under (b) or (c) must11complete the report on the basis of its solo position.

111111

Note 9

This will be applicable to firms that are members of a UK consolidation group4 on the reporting date.

11

Note 10

Only applicable to a firm whose ultimate parent is a mixed activity holding company.

Note 11

Only applicable to a firm that is a sole trader or a partnership, when the report must be submitted by each partner.

Note 12

Members of a UK integrated group should only submit this data item at the UK integrated group level.

11

2Note 13

This does not apply to a firm subject to IPRU(INV) Chapter 13 which is an exempt CAD firm.

2Note 14

FSA034 must be completed by a firm not subject to the exemption in IPRU(INV) 5.2.3(2)R.

FSA035 must be completed by a firm subject to the exemption in IPRU(INV) 5.2.3(2)R.

2Note 15

FSA029, FSA030,24 FSA032 and FSA03924 only apply to 24a firm subject to IPRU(INV) Chapter 13 which is an exempt CAD firm. Sections A, B, C, D1, 24D2 and F24 RMAR only apply to a firm subject to IPRU(INV) Chapter 13 which is not an exempt CAD firm.11

11242424

2Note 16

[deleted]11

11

2Note 17

An exempt BIPRU commodity firm will, by virtue of the definition of BIPRU TP 15, be exempt from completing FSA003 (and thus FSA004, FSA005, FSA006 and FSA007) for the duration of the transitional provision. It is however required to submit all other data items applicable according to the firm's BIPRU classification including, for the avoidance of doubt, BIPRU TP 16.

2Note 18

Except if the firm is an adviser, local or traded options market maker (as referred to in IPRU(INV) 3-60(4)R.

2Note 19

In the case of an adviser, local or traded options market maker (as referred to in IPRU(INV) 3-60(4)R), it is only required from partnerships and bodies corporate, and then only if the report was audited as a result of a statutory provision other than under the Act.

2Note 20

Only required in the case of an adviser, local or traded options market maker (as referred to in IPRU(INV) 3-60(4)R) that is a sole trader.

3Note 21

[deleted]11

11

6Note 22

Only applicable to firms that have an IRB permission.11

11

6Note 23

Only applicable to firms that hold securitisation positions, or are the originator or sponsor of15securitisations. of non-trading book exposures.15

15

11Note 24

Only applicable to firms granted a Part 30 exemption order and operating an arrangement to cover forward profits on the London Metals Exchange.

11Note 25

Only applicable to a firm that has a solo consolidation waiver.

13Note 26

A firm must complete this item separately on each of the following bases (if applicable).

(1) It must complete it on a solo basis. Therefore even if it has a solo consolidation waiver it must complete the item on an unconsolidated basis by reference to the firm alone.

(2) If it is a group liquidity reporting firm in a DLG by default and is a UKlead regulated firm, it must complete the item on the basis of that group.

(3) If it is a group liquidity reporting firm in a UKDLG by modification, it must complete the item on the basis of that group.

(4) If it is a group liquidity reporting firm in a non-UK DLG by modification, it must complete the item on the basis of that group.

13Note 27

A firm must complete this item separately on each of the following bases that are applicable.

(1) It must complete it on a solo basis unless it is a group liquidity reporting firm in a UKDLG by modification. Therefore even if it has a solo consolidation waiver it must complete the item on an unconsolidated basis by reference to the firm alone.

(2) If it is a group liquidity reporting firm in a UKDLG by modification, it must complete the item on the basis of that group.

13Note 28

If it is a non-ILAS BIPRU firm, it must complete it on a solo basis. Therefore even if it has a solo consolidation waiver it must complete the item on an unconsolidated basis by reference to the firm alone.

13Note 29

(1) This item must be reported in the reporting currency.

(2) If any data element is in a currency or currencies other than the reporting currency, all currencies (including the reporting currency) must be combined into a figure in the reporting currency.

(3) In addition, all material currencies (which may include the reporting currency) must each be recorded separately (translated into the reporting currency). However if:

(a) the reporting frequency is (whether under a rule or under a waiver) quarterly or less than quarterly; or

(b) the only material currency is the reporting currency;

(3) does not apply.

(4) If there are more than three material currencies for this data item, (3) only applies to the three largest in amount. A firm must identify the largest in amount in accordance with the following procedure.

(a) For each currency, take the largest of the asset or liability figure as referred to in the definition of material currency.

(b) Take the three largest figures from the resulting list of amounts.

(5) The date as at which the calculations for the purposes of the definition of material currency are carried out is the last day of the reporting period in question.

(6) The reporting currency for this data item is whichever of the following currencies the firm chooses, namely USD (the United States Dollar), EUR (the euro), GBP (sterling), JPY (the Japanese Yen), CHF (the Swiss Franc), CAD (the Canadian Dollar) or SEK (the Swedish Krona).

13Note 30

Note 29 applies, except that paragraphs (3), (4) and (5) do 31not apply, meaning that material currencies must not be recorded separately.

31

13Note 31

Any changes to reporting requirements caused by a firm receiving an intra-group liquidity modification (or a variation to one) do not take effect until the first day of the next reporting period applicable under the changed reporting requirements for the data item in question if the firm receives that intra-group liquidity modification or variation part of the way through such a period. If the change is that the firm does not have to report a particular data item or does not have to report it at a particular reporting level, the firm must nevertheless report that item or at that reporting level for any reporting period that has already begun. This paragraph is subject to anything that the intra-group liquidity modification says to the contrary.15

15Note 32

Only applicable to firms that hold securitisation positions in the trading book and/25 or are the originator or sponsor of securitisations held in the trading book.2521

25

21Note 33

FSA047, FSA048, FSA050, FSA051, FSA052, FSA053 and FSA054 must be completed by an ILAS BIPRU firm. An ILAS BIPRU firm does not need to complete FSA055. A non-ILAS BIPRU firm must complete FSA055 and does not need to complete FSA047, FSA048, FSA050, FSA051, FSA052, FSA053 and FSA054.22

22Note 34

This data item must be reported only in the currencies named in FSA052, so that liabilities in GBP are reported in GBP in rows 1 to 4, those in USD are reported in USD in rows 5 to 8, and those in Euro are reported in Euro in rows 9 to 12. Liabilities in other currencies are not to be reported.38

38Note 35

Only applicable to firms that are collective portfolio management investment firms.
SUP 16.12.32RRP
(1) A firm that is a member of a financial conglomerate must submit financial reports to the appropriate regulator96 in accordance with the table in SUP 16.12.33 R if:96(a) it is at the head of a UK-regulated EEA financial conglomerate96; or96(b) its Part 4A permission96 contains a relevant requirement.96(2) In (1)(b), a relevant requirement is one which:(a) applies SUP 16.12.33 R to the firm; or(b) applies SUP 16.12.33 R to the firm unless the mixed financial holding company
MIPRU 2.1.1RRP
1This chapter applies to a firm with Part 4A permission to carry on insurance mediation activity.
FIT 1.1.1GRP
FIT applies to:(1) a firm;(2) an applicant for Part 4A permission;(3) and EEA firm, a Treaty firm or a UCITS qualifier that wishes to establish a branch into the United Kingdom using EEA rights, Treaty rights or UCITS directive rights (see SUP 10.1.12 G9SUP 10A.1.10 G and SUP 10B.1.10 G9 and SUP 10.1.13 R9SUP 10A.1.11 R and SUP 10B.1.11 R9), or apply for a top-up permission (see SUP 10.1.14 R9SUP 10A.1.13 RSUP 10B.1.12 R9);(4) an approved person; and(5) a candidate.