Related provisions for LR 11.1.5A

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PERG 7.1.2GRP
The purpose of this chapter is to provide guidance as to:(1) when a person involved in publishing periodicals, or in providing news services or broadcasts, requires authorisation to carry on the regulated activities of advising on investments or advising on a home finance transaction1(see PERG 7.3 (Does the activity require authorisation));1(2) if he does, whether he qualifies for the exclusion from those activities that applies to a periodical publication, a regularly updated
PERG 7.1.3GRP
This guidance is issued under section 139A of the Act. The guidance represents the FCA's views and does not bind the courts, for example in relation to an action for damages brought by a private person for breach of a rule (see section 138D of the Act (Actions for damages)), or in relation to the enforceability of a contract where there has been a breach of section 19 (The general prohibition) of the Act (see section 26 of the Act (Enforceability of agreements)). Although the
DTR 6.1.16RRP
An issuer whose registered office is in a non-EEA State whose relevant laws are considered equivalent by the FCA is exempted from DTR 6.1.3 R to DTR 6.1.15 R .
DTR 6.1.17GRP
The FCA maintains a published list of non-EEA State which, for the purpose of article 23.1 of the TD, are judged to have laws which lay down requirements equivalent to those imposed upon issuers by this chapter. Such issuers remain subject to the following requirements of DTR 6:(1) the filing of information with the FCA;(2) the language provisions; and(3) the dissemination of information provisions.
LR 10.5.3GRP
1The FCA would (amongst other things) generally consider an increase of 10% or more in the consideration payable to be a material change to the terms of the transaction.
LR 10.5.4RRP
(1) 2If a listed company becomes aware of a matter described in (2) after the publication of a circular that seeks shareholder approval for a transaction expressly requiring a vote by the listing rules, but before the date of a general meeting, it must, as soon as practicable:(a) advise the FCA of the matters of which it has become aware; and(b) send a supplementary circular to holders of its listedequity shares providing an explanation of the matters referred to in (2).(2) The
DEPP 1.1.1GRP
1This manual (DEPP) is relevant to firms, approved persons and other persons, whether or not they are regulated by the FCA.5 It sets out:5(1) the FCA's5 decision-making procedure for giving statutory notices. These are warning notices, decision notices and supervisory notices (DEPP 1.2 to DEPP 5);5(1A) the FCA's decision-making procedure in cases where the PRA is required to seek the FCA's consent before approving an application (a) for Part 4A permission; (b) for the variation
DEPP 1.1.2GRP
The purpose of DEPP is to satisfy the requirements of sections 63C(1),2 69(1), 88C(1), 89S(1),5 93(1), 124(1), 131FA,4 131J(1),2 169(9),3 192N(1), 210(1), 312J(1), 345D(1)5 and 395 of the Act that the FCA5 publish the statements of procedure or policy referred to in DEPP 1.1.1 G.5
PERG 6.3.1GRP
The business of effecting or carrying out contracts of insurance is subject to prior authorisation under the Act1and regulation by the FCA and PRA1. (There are some limited exceptions to this requirement, for example, for breakdown insurance.)1
PERG 6.3.2GRP
The Regulated Activities Order, which sets out the activities for which authorisation is required, does not attempt an exhaustive definition of a 'contract of insurance'. Instead, it makes some specific extensions and limitations to the general common law meaning of the concept. For example, it expressly extends the concept to fidelity bonds and similar contracts of guarantee, which are not contracts of insurance at common law, and it excludes certain funeral plan contracts, which
SUP 10A.16.1DRP
(1) This direction applies to an application under Form A or Form E.(2) An application by a firm other than a credit union must be made by submitting the Form online at fca.org.uk using the form specified on the FCA's and PRA's ONAsystem.(3) An application by a credit union must be made using the form in SUP 10A Annex 4D or SUP 10A Annex 8D and must be submitted in the way set out in SUP 15.7.4 R to SUP 15.7.9 G (Form and method of notification).(4) Where a firm is obliged to
SUP 10A.16.3GRP
If the information technology systems used by the FCA fail and online submission is unavailable for 24 hours or more, the FCA and PRA will endeavour to publish a notice on their websites confirming that online submission is unavailable and that the alternative methods of submission set out in SUP 10A.16.1D (4) and SUP 15.7.4 R to SUP 15.7.9 G (Form and method of notification) should be used.
COLL 7.2.1RRP
(1) The authorised fund manager may, with the prior agreement of the depositary, and must without delay, if the depositary so requires, temporarily1 suspend the issue, cancellation, sale and redemption of units in an authorised fund (referred to in this chapter as "dealings in units"), where due to exceptional circumstances it is in the interest of all the unitholders in the authorised fund. (1A) The authorised fund manager and the depositary must ensure that the suspension is
COLL 7.2.1ARRP
2Where:(1) an authorised fund manager of a UCITS scheme which is a master UCITS or a qualifying master scheme3temporarily suspends the issue, cancellation, sale and redemption of its units, whether at its own initiative or at the request of the FCA; or(2) an operator of an EEA UCITS scheme which is a master UCITS or a qualifying master scheme3temporarily suspends the issue, cancellation, sale or redemption of its units, whether at its own initiative or at the request of its Home
GEN 1.2.1GRP
The purpose of GEN 1.2.2 R is to prevent clients being misled about the extent to which the appropriate regulator9 has approved a firm's affairs.9
FEES App 1.1.2GRP
The purpose of these rules is to set out the requirements for registered societies and sponsoring bodies to pay periodic and application fees which, together, will provide the funding for the FCA's functions in respect of the registrant-only fee block (Category F). This set of rules is in respect of the registration functions relating to registered societies transferred to the FCA by Part XXI (Mutual Societies) of the Financial Services and Markets Act 2000 (‘the Act’), other
FEES App 1.1.5GRP
The periodic fee set for registered societies is a tiered fee, which is payable annually. The amount payable is dependent upon the R declared by the registered society in the most recent R required to be filed with the FCA.
APER 4.2.2ERP
In the opinion of the appropriate regulator,5 conduct of the type described in APER 4.2.3 E, APER 4.2.5 E, APER 4.2.6 E, APER 4.2.8 E, APER 4.2.10 E, APER 4.2.11 E or APER 4.2.14 E2 does not comply with Statement of Principle 2.555
APER 4.2.2AERP
5In the opinion of the FCA, conduct of the type described in APER 4.2.13 E does not comply with Statement of Principle 2.
COLL 4.7.2RRP
(1) An authorised fund manager must, for each UCITS scheme which it manages, draw up a short document in English containing key investor information (a "key investor information document") for investors.(2) The words "key investor information" must be clearly stated in this document. (3) Key investor information must include appropriate information about the essential characteristics of the UCITS scheme which is to be provided to investors so that they are reasonably able to understand
COLL 4.7.7RRP
(1) An authorised fund manager must keep up to date the essential elements of the key investor information document for each UCITS scheme which it manages.(2) An authorised fund manager must file the key investor information document for each UCITS scheme which it manages, and any amendments thereto, with the FCA.(3) An authorised fund manager of a feeder UCITS must, in addition to (1) and (2), file the key investor information of its master UCITS, and any amendments thereto,
REC 2A.3.1GRP
In assessing compliance with the RAP recognition requirements, the FCA3 will have regard to relevant guidance in REC 2 on the equivalent requirements set out in the Recognition Requirement Regulations. The FCA3 may also take into account compliance by the RAP or RAP applicant with the recognition requirements (see REC 2A.2.1 UK). The FCA3 will not make a separate assessment of compliance with the recognition requirements during the course of examining an application to become
REC 2A.3.2GRP

The guidance in relation to the recognition requirements in the sections of REC 2 listed in Column A of the table below applies to an RAP in relation to the equivalent RAP recognition requirements listed in Column C and (if shown) with the modifications in Column B.

Table: Guidance on RAP recognition requirements

Column A

REC 2 guidance which applies to an RAP

Column B

Modification to REC 2 guidance for an RAP

Column C

Relevant RAP recognition requirement

REC 2.2.2 G to REC 2.2.7 G (Relevant circumstances and Outsourcing)

Reg 13

REC 2.3.3 G to REC 2.3.9 G (Financial resources)

Reg 14

REC 2.4.3 G to REC 2.4.6 G (Suitability)

In addition to the matters set out in REC 2.4.3 G to REC 2.4.6 G, the FCA3 will have regard to whether a key individual has been allocated responsibility for overseeing the auction platform of the UK recognised body.

3

Reg 15

REC 2.5.3 G to REC 2.5.20 G (Systems and controls and conflicts) and REC 2.5A (Guidance on Public Interest Disclosure Act: Whistleblowing)

Reg 16 and 17(2)(f)1

REC 2.6.26 G to REC 2.6.34 G (Safeguards for investors)

Reg 17

REC 2.7.3 G to REC 2.7.4 G (Access to facilities)

The FCA3 shall have regard to whether an RAP provides access to bid at auctions only to those persons eligible to bid under article 18 of the auction regulation.

3

Reg 17(2)(a) and1 20

REC 2.8.3 G to REC 2.8.4 G (Settlement and clearing services)

Reg 17(2)(d) and 21

REC 2.9.3 G to REC 2.9.4 G (Transaction recording)

Reg 17(2)(e)

REC 2.10.3 G to REC 2.10.4 G (Financial crime and market abuse)

Reg 17(2)(g)

REC 2.11.3 G to REC 2.11.4 G (Custody)

REC 2.11.4 G is replaced with the following for an RAP:

Where an RAP arranges for other persons to provide services for the safeguarding and administration services of assets belonging to users of its facilities, it will also need to satisfy the RAP recognition requirement in regulation 17(2)(h) of the RAP regulations (see REC 2A.2.1 UK).

Reg 17(2)(h)

REC 2.12.11 G to REC 2.12.12 G (Availability of relevant information)

REC 2.12.11 G to REC 2.12.12 G are replaced with the following for an RAP:

REC 2.12.11 G

In determining whether appropriate arrangements have been made to make relevant information available to persons engaged in dealing in emissions auction products2 the FCA3 may have regard to:

(1) the extent to which auction bidders are able to obtain information in a timely fashion about the terms of those emissions auction products2 and the terms on which they will be auctioned, either through accepted channels for dissemination of information or through other regularly and widely accessible communication media;

(2) what restrictions, if any, there are on the dissemination of relevant information to auction bidders; and

(3) whether relevant information is, or can be, kept to restricted groups of persons in such a way as to facilitate or encourage market abuse.

REC 2.12.12 G

An RAP does not need to maintain its own arrangements for providing information on the terms of emissions auction products2 to auction bidders where it has made adequate arrangements for other persons to do so on its behalf or there are other effective and reliable arrangements for this purpose.

2322

Reg 17(2)(c)

REC 2.13.3 G to REC 2.13.6 G (Promotion and maintenance of standards)

Reg 18

REC 2.14.3 G to REC 2.14.6 G (Rules and consultation)

Reg 19

REC 2.15.3 G to REC 2.15.6 G (Discipline)

Reg 22

REC 2.16.3 G to REC 2.16.4 G (Complaints)

Reg 23
FEES 6.5.2-ARRP
12The FSCS must allocate any compensation costs levy:(1) first, to the relevant classes in proportion to the amount of compensation costs arising from, or expected to arise from, claims in respect of the different activities for which firms in those classes have permission up to the levy limit of each relevant class. The FCA provider contribution classes are not relevant classes for this purpose; and(2) thereafter, where the levy limit has been reached (whether as a result of
FEES 6.5.6ARRP
12The FSCS must calculate each participant firm's share of a compensation costs levy (subject to FEES 6.3.22 R (Adjustments to calculation of levy shares)) by:(1) identifying each of the relevant classes to which each participant firm belongs, using the statement of business most recently supplied under FEES 6.5.13 R (1);(2) identifying the compensation costs falling within FEES 6.5.1 R allocated, in accordance with FEES 6.5.2 R, to the classes identified in (1);(3) calculating,
SUP 16.14.3RRP
(1) Subject to (3), a4firm must submit a completed CMAR to the FCA10 within 15 business days of the end of each month.410(2) In this rule month means a calendar month and SUP 16.3.13 R (4) does not apply.(3) 4A firm which changes its 'CASS firm type' and notifies the FCA10 that it is a CASS medium firm or a CASS large firm in accordance with CASS 1A.2.9 R is not required to submit a CMAR in respect of the month in which the change to its 'CASS firm type' takes effect in accordance
SUP 16.14.6RRP
3A CMAR must be submitted by electronic means made available by the FCA10.10
SUP 12.2.3GRP
As long as the conditions in section 39 of the Act are satisfied, any person, other than an authorised person, may become an appointed representative, including a body corporate, a partnership or an individual in business on his own account. However, an appointed representative cannot be an authorised person under the Act; that is, it cannot be exempt for some regulated activities and authorised for others.
SUP 12.2.16GRP
(1) 12A tied agent is a person who acts for and under the responsibility of a MiFID investment firm (or a third country investment firm) in respect of MiFID business (or the equivalent business of the third country investment firm). Most tied agents appointed by firms are also appointed representatives.(2) Unless otherwise provided, this chapter applies to a firm that appoints a tied agent that is an appointed representative in the same way as it applies to the appointment of
COBS 20.5.4GRP
(1) The FCA expects that a with-profits committee will meet at least quarterly and ad hoc if required. (2) The FCA expects that, in general, a with-profits committee or advisory arrangement will work closely with the with-profits actuary, and obtain his opinion and input as appropriate.
COBS 20.5.7GRP
(1) The FCA expects the governing body of the firm to decide whether a member of the with-profits committee or a person (other than a non-executive director) carrying out the advisory arrangement is independent. The FCA expects a firm'sgoverning body to adopt the following approach and have regard to the following factors when making this assessment:(a) the governing body should determine whether the person is independent in character and judgment and whether there are relationships
DTR 2.2.9GRP
(1) Subject to the limited ability to delay release of inside information to the public provided by DTR 2.5.1 R, an issuer is required to notify, via a RIS, all inside information in its possession as soon as possible.(2) If an issuer is faced with an unexpected and significant event, a short delay may be acceptable if it is necessary to clarify the situation. In such situations a holding announcement should be used where an issuer believes that there is a danger of inside information
DTR 2.2.10GRP
The FCA is aware that many issuers provide unpublished information to third parties such as analysts, employees, credit rating agencies, finance providers and major shareholders, often in response to queries from such parties. The fact that information is unpublished does not in itself make it inside information. However, unpublished information which amounts to inside information is only permitted to be disclosed in accordance with the disclosure rules and an issuer must ensure
DISP App 1.1.4GRP
This appendix is relevant both to the obligations arising under the complaints handling rules contained in 3DISP 13 and to the FCA's approach to the supervision of firms.2525
DISP App 1.1.8GRP
25Nothing in this appendix relieves firms of the obligation to consider the particular facts and circumstances of each complaint and to consider whether the assessment of loss and compensation should, in the light of those facts and circumstances, be carried out on a different basis. If, however, the facts and circumstances make it appropriate to do so, the FCA's expectation is that firms will apply the approach and standards set out in this appendix, and where they do not, the
REC 1.1.2GRP
(1) UK RIEs4 are exempt persons under section 285 of the Act (Exemption for recognised investment exchanges and clearing houses).4(2) UK RIEs4 must satisfy recognition requirements prescribed by the Treasury (in certain cases with the approval of the Secretary of State) in the Recognition Requirements Regulations. UK RIEs must also satisfy the MiFID implementing requirements in the MiFID Regulation.2RAPs must satisfy the recognition requirements prescribed by the Treasury in the
REC 1.1.3GRP
(1) The recognition requirements for UK recognised bodies and the MiFID implementing requirements2are set out, with guidance, in REC 2. The RAP recognition requirements (other than requirements under the auction regulation which are not reproduced in REC) are set out, with guidance, in REC 2A.3(2) The notification rules for UKrecognised bodies are set out in REC 3 together with guidance on those rules.(3) Guidance on the FCA's4 approach to the supervision of recognised bodies
PERG 4.8.6GRP
If an unauthorised administrator makes arrangements for a mortgage administrator to administer its regulated mortgage contracts, the exclusion may cease to be available because the mortgage administrator ceases to have the required permission, or because the arrangement is terminated. The exclusion gives the unauthorised administrator a one-month grace period during which it may administer the contracts itself. If the period of administration exceeds one month, the unauthorised
PERG 4.8.7GRP
Under article 63 of the Regulated Activities Order, a person who is not an authorised person does not administer a regulated mortgage contract if he administers the contract under an agreement with a firm with permission to administer a regulated mortgage contract. A firm with permission to administer a regulated mortgage contract may thus outsource or delegate the administration function to an unauthorised third party. A firm that proposes to do this should however note, as set