Related provisions for SUP 9.4.3

PERG 8.37.1G22/07/2013

(1) 1Part 6 (Marketing) of the AIFMD UK regulation contains restrictions on an AIFM or an investment firmmarketing an AIF. Such a person may not market an AIF in the UK unless the relevant conditions set out in the AIFMD UK regulation are met.(2) The purpose of this section is to give guidance on: (a) the restrictions on an AIFM or investment firmmarketing an AIF (PERG 8.37.2 G and PERG 8.37.3 G);(b) the circumstances in which an AIFM or an investment firmmarkets an AIF (PERG

COLL 6.2.2G01/07/2013

(1) This section helps in achieving the statutory objective of securing an appropriate degree of protection for consumers. In accordance with Principle 6, this section is also concerned with ensuring the authorised fund manager pays due regard to its clients' interests and treats them fairly.(2) An authorised fund manager of an AUT, ACS or ICVC7 is responsible for arranging for the issue and the cancellation of units for the authorised fund. An authorised fund manager of an AUT,

PERG 9.4.3G01/04/2013

In the FCA's view, it is the very existence of the body corporate that is the collective investment scheme. There are a number of statutory references that support this view. For example, it is clear that paragraph 21 of the Schedule to the Financial Services and Markets Act 2000 (Collective Investment Schemes) Order 2001 (SI 2001/1062) (Arrangements not amounting to a collective investment scheme) is drafted on the basis that it is the body corporate itself that is (or would

DEPP 6.6.4G01/04/2013

In applying the guidance in this section, the FCA2 may treat a report which is materially incomplete or inaccurate as not received until it has been submitted in a form which is materially complete and accurate. For the purposes of the guidance, the FCA2 may also treat a report as not received where the method by which it is submitted to the FCA2 does not comply with the prescribed method of submission.222

PERG 9.10.5G01/07/2005

There are a number of other exemptions in the Financial Services and Markets Act 2000 (Promotion of Collective Investment Schemes) (Exemptions) Order 2001 (SI 2001/1060). In general terms, these exemptions are equivalent to the exemptions from section 21 of the Act that apply to units. There is guidance on those exemptions in PERG 8.20.3 G (Additional restriction on the promotion of collective investment schemes).

SUP 4.2.2G01/04/2013

This chapter defines the relationship between firms and their actuaries3 and clarifies the role which actuaries3 play in the appropriate regulator's monitoring of firms' compliance with the requirements and standards under the regulatory system. The chapter sets out rules and guidance on the appointment of actuaries3, and the termination of their3 term of office, as well as setting out their respective rights and duties. The purpose of the chapter is to ensure that:3333(1) long-term

FEES 2.1.1AR01/07/2011

621This chapter does not apply in relation to FEES 5.5A, FEES 5 Annex 2R or FEES 5 Annex 3R.

DTR 1.2.5G01/04/2013

1Where a disclosure rule refers to consultation with the FCA, submissions should be made in writing other than in circumstances of exceptional urgency.

Address for correspondence

Note: The FCA's address for correspondence in relation to the disclosure rules is:

Primary Market Monitoring

Markets Division

The Financial Conduct Authority

25 The North Colonnade

Canary Wharf

London E14 5HS

SUP 3.4.1G01/04/2013

The appropriate regulator is concerned to ensure that the auditor of a firm has the necessary skill and experience to audit the business of the firm to which he has been appointed. This section sets out the appropriate regulator's rules and guidance aimed at achieving this.

PERG 1.4.2G01/04/2013

Table: list of general guidance to be found in PERG.

Chapter:	Applicable to:	About:
PERG 2: Authorisation and regulated activities	an unauthorised person wishing to find out whether he needs to be authorised or exempt an authorised person wishing to know whether he needs to vary hisPart 4A permission	the regulatory scope of the Act the Regulated Activities Order the Exemption Order the Business Order
PERG 3A:8 Guidance on the scope of the Electronic Money Regulations 8 8 8	a person who needs to know whether a particular electronic payment product is8electronic money 8 and whether the person issuing it needs to be8 authorised or registered under the Electronic Money Regulations 8	the scope of the8Electronic Money Regulations 8
PERG 4: Regulated activities connected with mortgages	any person who needs to know whether the activities he conducts in relation to mortgages are subject to FCA regulation. This is likely to include: lenders administration service providers mortgage brokers and advisers	the scope of relevant orders (in particular, the Regulated Activities Order) as respects activities concerned with mortgages
PERG 5: Insurance mediation activities	any person who needs to know whether he carries on insurance mediation activities and is, thereby, subject to FCA regulation. This is likely to include: insurance brokers insurance advisers insurance undertakings other persons involved in the sale or administration of contracts of insurance, where these activities are secondary to their main business.	the scope of relevant orders (in particular, the Regulated Activities Order) as respects activities concerned with the sale or administration of insurance
PERG 6: Identification of contracts of insurance	any person who needs to know whether a contract with which he is involved is a contract of insurance	the general principles and range of specific factors that the FCA regards as relevant in deciding whether any arrangement is a contract of insurance
PERG 7: Periodical publications, news services and broadcasts: application for certification	any person who needs to know whether he will be regulated for providing advice about investments through the medium of a periodical publication, a broadcast or a news service	the circumstances in which such persons will be carrying on the regulated activities of advising on investments or advising on regulated mortgage contracts (including where a request for a certificate may be appropriate) how theFCA will exercise its power to grant certificates
PERG 8: Financial promotion and related activities	any person who needs to know whether his communications are financial promotions or are subject to the restriction in section 21 of the Act or both whether his activities in making or helping others to make financial promotions are regulated activities.	the scope of the restriction on financial promotion under section 21 of the Act and the main exemptions provided the circumstances in which persons who are primarily involved in making or helping others to make financial promotions may themselves be conducting regulated activities requiring authorisation or exemption
PERG 9: Meaning of open-ended investment company	any person who needs to know whether a body corporate is an open-ended investment company as defined in section 236 of the Act (Open-ended investment companies) and is therefore a collective investment scheme.	the circumstances in which a body corporate will be an open-ended investment company
PERG 10: Activities related to pension schemes	Any person who needs to know whether his activities in relation to pension schemes will amount to regulated activities or whether the restriction in section 21 of the Act will apply to any financial promotions he may make.1 1	the regulated activities that arise in connection with the establishment and operation of pension schemes and any exclusions that may be relevant the circumstances in which financial promotions about pension schemes may be exempt from the restriction in section 21 of the Act 1
4PERG 11: Property investment clubs and land investment schemes	Any person who needs to know whether his activities in relation to property investment clubs and land investment schemes will amount to regulated activities or whether the restriction in section 21 of the Act will apply to any financial promotions he may make.	the regulated activities that may arise in connection with the establishment and operation of property investment clubs and land investment schemes and any exclusions that may be relevant the extent to which the financial promotion restriction in section 21 of the Act applies
2PERG 12: Running or advising on personal pension schemes	any person who needs to know whether his activities in relation to establishing, running, advising on or marketing personal pension schemes will amount to regulated activities	the regulated activities that arise in connection with establishing, running, advising on or marketing personal pension schemes and any exclusions that may be relevant
3PERG 13: Guidance on the scope of the Markets in Financial Instruments Directive and the recast Capital Adequacy Directive 5	Any UK person who needs to know whether MiFID or the recast CADas implemented in the UK apply to him5	the scope of MiFID and the recast CAD5
3PERG 14: Home reversion,7 home finance and regulated sale and rent back 7activities 7	Any person who needs to know whether his activities in relation to home reversion plans,7 home purchase plans or regulated sale and rent back agreements 7will amount to regulated activities or whether the restriction in section 21 of the Act will apply to any financial promotions he may make. 7	the regulated activities that arise in connection with home reversion plans,7 home purchase plansand regulated sale and rent back agreements 7and any exclusions that may be relevant the circumstances in which financial promotions about home reversion plans,7home purchase plansand regulated sale and rent back agreements 7may be made without breaching the restriction in section 21 of the Act
6PERG 15: Guidance on the scope of the Payment Services Regulations 2009	Any person with an establishment in the UK who needs to know whether the Payment Services Directive, as transposed in UK legislation by the Payment Services Regulations 2009, applies to him. Q46 applies specifically to persons providing payment services from an establishment outside the EEA to persons located in the UK.	the scope of the PSD Regulations 2009.

Chapter:

Applicable to:

About:

PERG 2:

Authorisation and regulated activities

an unauthorised person wishing to find out whether he needs to be authorised or exempt
an authorised person wishing to know whether he needs to vary hisPart 4A permission

the regulatory scope of the Act
the Regulated Activities Order
the Exemption Order
the Business Order

PERG 3A:8

Guidance on the scope of the Electronic Money Regulations 8

8 8

a person who needs to know

whether a particular electronic payment product is8electronic money 8 and whether the person issuing it needs to be8 authorised or registered under the Electronic Money Regulations 8

the scope of the8Electronic Money Regulations 8

PERG 4:

Regulated activities connected with mortgages

any person who needs to know whether the activities he conducts in relation to mortgages are subject to FCA regulation. This is likely to include:

lenders
administration service providers
mortgage brokers and advisers

the scope of relevant orders (in particular, the Regulated Activities Order) as respects activities concerned with mortgages

PERG 5:

Insurance

mediation

activities

any person who needs to know whether he carries on insurance mediation activities and is, thereby, subject to FCA regulation. This is likely to include:

insurance brokers
insurance advisers
insurance undertakings
other persons involved in the sale or administration of contracts of insurance, where these activities are secondary to their main business.

the scope of relevant orders (in particular, the Regulated Activities Order) as respects activities concerned with the sale or administration of insurance

PERG 6:

Identification of contracts of insurance

any person who needs to know whether a contract with which he is involved is a contract of insurance

the general principles and range of specific factors that the FCA regards as relevant in deciding whether any arrangement is a contract of insurance

PERG 7:

Periodical publications, news services and broadcasts: application for certification

any person who needs to know whether he will be regulated for providing advice about investments through the medium of a periodical publication, a broadcast or a news service

the circumstances in which such persons will be carrying on the regulated activities of advising on investments or advising on regulated mortgage contracts (including where a request for a certificate may be appropriate)
how theFCA will exercise its power to grant certificates

PERG 8:

Financial promotion and related activities

any person who needs to know

whether his communications are financial promotions or are subject to the restriction in section 21 of the Act or both
whether his activities in making or helping others to make financial promotions are regulated activities.

the scope of the restriction on financial promotion under section 21 of the Act and the main exemptions provided
the circumstances in which persons who are primarily involved in making or helping others to make financial promotions may themselves be conducting regulated activities requiring authorisation or exemption

PERG 9:

Meaning of open-ended investment company

any person who needs to know whether a body corporate is an open-ended investment company as defined in section 236 of the Act (Open-ended investment companies) and is therefore a collective investment scheme.

the circumstances in which a body corporate will be an open-ended investment company

PERG 10:

Activities related to pension schemes

Any person who needs to know whether his activities in relation to pension schemes will amount to regulated activities or whether the restriction in section 21 of the Act will apply to any financial promotions he may make.1

1

the regulated activities that arise in connection with the establishment and operation of pension schemes and any exclusions that may be relevant
the circumstances in which financial promotions about pension schemes may be exempt from the restriction in section 21 of the Act 1

4PERG 11:

Property investment clubs and land investment schemes

Any person who needs to know whether his activities in relation to property investment clubs and land investment schemes will amount to regulated activities or whether the restriction in section 21 of the Act will apply to any financial promotions he may make.

the regulated activities that may arise in connection with the establishment and operation of property investment clubs and land investment schemes and any exclusions that may be relevant
the extent to which the financial promotion restriction in section 21 of the Act applies

2PERG 12:

Running or advising on personal pension schemes

any person who needs to know whether his activities in relation to establishing, running, advising on or marketing personal pension schemes will amount to regulated activities

the regulated activities that arise in connection with establishing, running, advising on or marketing personal pension schemes and any exclusions that may be relevant

3PERG 13:

Guidance on the scope of the Markets in Financial Instruments Directive and the recast Capital Adequacy Directive

5

Any UK person who needs to know whether MiFID or the recast CADas implemented in the UK apply to him5

the scope of MiFID and the recast CAD5

3PERG 14:

Home reversion,7 home finance and regulated sale and rent back 7activities

7

Any person who needs to know whether his activities in relation to home reversion plans,7 home purchase plans or regulated sale and rent back agreements 7will amount to regulated activities or whether the restriction in section 21 of the Act will apply to any financial promotions he may make.

7

the regulated activities that arise in connection with home reversion plans,7 home purchase plansand regulated sale and rent back agreements 7and any exclusions that may be relevant
the circumstances in which financial promotions about home reversion plans,7home purchase plansand regulated sale and rent back agreements 7may be made without breaching the restriction in section 21 of the Act

6PERG 15: Guidance on the scope of the Payment Services Regulations 2009

Any person with an establishment in the UK who needs to know whether the Payment Services Directive, as transposed in UK legislation by the Payment Services Regulations 2009, applies to him.

Q46 applies specifically to persons providing payment services from an establishment outside the EEA to persons located in the UK.

the scope of the PSD Regulations 2009.

SUP App 3.9.2G01/11/2007

The tables provide a general indication of the investments and activities specified in the Regulated Activities Order that may correspond to categories provided for in the Banking Consolidation Directive, 1MiFID3, the UCITS Directive or the Insurance Mediation Directive1. The tables do not provide definitive guidance as to whether a firm is carrying on an activity that is capable of being passported, nor do the tables take account of exceptions that remove the effect of articles.

SUP App 3.6.11G01/12/2009

The key distinction in relation to temporary activities is whether a firm should make its notification under the freedom of establishment in a Host State, or whether it should notify under the freedom to provide services into a Host State. It would be inappropriate to discuss such a complex issue in guidance of this nature. It is recommended that, where a firm is unclear on the distinction, it should seek appropriate advice. In either case, where a firm is carrying on activities

SUP 13.6.10G23/07/2013

(1) If the change arises from circumstances beyond the UK firm's control, the UK firm:17(a) is required by regulation 11(3) or regulation 13(3) to give a notice to the appropriate UK regulator17 and to the Host State regulator stating the details of the change as soon as reasonably practicable;17(b) may, if it is passporting under the Insurance Directives, make a change to its relevant UK details7 under regulation 15(1) if it has, as soon as practicable (whether before or after

REC 6.3.3G01/04/2013

The reference to recognition requirements in section 292(3)(a) of the Act is a reference to the requirements applicable to UK RIEs in the Recognition Requirements Regulations. These requirements are set out, together with guidance, in REC 2.3

BIPRU 3.2.16G01/01/2007

(1) The definition of group of connected clients is set out in the Glossary. Paragraph (2) of that definition is "two or more persons ... who are to be regarded as constituting a single risk because they are so interconnected that, if one of them were to experience financial problems, the other or all of the others would be likely to encounter repayment difficulties".(2) Say that a firm has exposures to A and B. When deciding whether A and B come within paragraph (2) of the definition

SUP 1A.4.6G01/04/2013

The FCA also uses a variety of tools to address specific risks identified in firms. These tools include:(1) making recommendations for preventative or remedial action;(2) giving other individual guidance to a firm;(3) imposing individual requirements; and(4) varying a firm'spermission in another way.

SUP 16.5.3G01/04/2013

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

ICOBS 3.1.2G06/01/2008

Guidance on expressions derived from the Distance Marketing Directive and on the Directive's application in the context of insurance mediation activity can be found in ICOBS 3 Annex 1 G.

Related provisions for SUP 9.4.3

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