Related provisions for SUP 9.4.3
101 - 120 of 360 items.
There is a general concern that the practice of companies issuing statements and giving briefings may involve a financial promotion. These arise sometimes as a result of requirements imposed by a listing authority or an exchange or market, PERG 8.4.14 G offers guidance on when such statements or briefings may amount to or involve an inducement to engage in investment activity. It indicates that whilst statements of fact alone will not be inducements, there may be circumstances
PERG 8.12.32 G contains detailed guidance on the exemption in article 20A. The exemption is capable of applying to financial promotions in a company statement or briefing where they are communicated through a webcast if the website is a regularly updated news or information service. For this to be the case, the website must be a service provided to persons who use it (so it must not, for example, simply be an advertising vehicle) and that service must be one of providing news
The reference to financial promotions which are permitted to be communicated relates, in the FCA's opinion, to something which is expressly permitted rather than simply not expressly prohibited. Article 67 itself does not specify any particular medium for communicating required or permitted material. So, it will be enough for the financial promotion to be part of a document which is itself required or permitted to be communicated (such as reports or financial statements). Market
The purpose of SUP 2.3 is to amplify Principle 11 in the context of information gathering by the FCA on its own initiative in the discharge of its functions under the Act. SUP 2.3 therefore sets out, in guidance on Principle 11 and in rules, how the FCA expects firms to deal with the FCA in that context, including the steps that a firm should take with a view to ensuring that certain connected persons should also cooperate with the FCA.
(1) 2This section applies to:(a) the authorised fund manager of a feeder UCITS;(b) the depositary of a feeder UCITS; and(c) an ICVC which is a feeder UCITS;where the scheme is a UCITS scheme.(2) Where this section refers to a rule or guidance in COLL 5.1 to COLL 5.5 , those rules and guidance, and any rules and guidance to which they refer, must be read as if a reference to a UCITS scheme were a reference to a feeder UCITS.(3) Where the sub-fund of a UCITS scheme is a feeder UCITS,
The following rules and guidance in COLL 5.1 (Introduction), COLL 5.2 (General investment powers and limits for UCITS schemes) and COLL 5.5 (Cash, borrowing, lending and other provisions) apply to the authorised fund manager of a UCITS scheme which is a feeder UCITS and to an ICVC which is a feeder UCITS:(1) COLL 5.1.1 R (Application), COLL 5.1.2G (1) (Purpose) and COLL 5.1.3 R (Treatment of obligations);(2) COLL 5.2.1 R (Application), COLL 5.2.2 R (Table of application) and
Article 53 does not apply to advice given on any of the following:(1) deposit or other bank or building society accounts (but note that providing basic advice on a stakeholder product including stakeholder deposit accounts is a separate regulated activity under article 52A of the Regulated Activities Order - see the guidance in PERG 2.7.14A G (Providing basic advice on stakeholder products));(2) interests under the trusts of an occupational pension scheme (but rights under an
12Redress should in most cases be provided by meeting the cost of rearranging the policy, by way of a lump sum payment into the policy in respect of the higher rate of premium due from its inception. It may be appropriate in individual cases to take account of the lower premiums that the complainant will have paid to date. The guidance in DISP App 1.2, as to the circumstances in which this will be appropriate, will be relevant here.
The FCA4 will consider the full circumstances of each case when determining whether or not to take action for a financial penalty or public censure. Set out below is a list of factors that may be relevant for this purpose. The list is not exhaustive: not all of these factors may be applicable in a particular case, and there may be other factors, not listed, that are relevant.4(1) The nature, seriousness and impact of the suspected breach, including:(a) whether the breach was deliberate
The FCA's4 rules on systems and controls against money laundering are set out in SYSC 3.2 and SYSC 6.3. The FCA4, when considering whether to take action for a financial penalty or censure in respect of a breach of those rules, will have regard to whether a firm has followed relevant provisions in the Guidance for the UK financial sector issued by the Joint Money Laundering Steering Group.44
The table below sets out the format, reporting frequency and due date for submission in relation to regulatory returns that apply to electronic money issuers that are not credit institutions.
(1) Type of electronic money issuer |
(2) Return |
(3) Format |
(4) Reporting Frequency |
(5) Due date (Note 4) |
Balance sheet |
FSA059 |
Half yearly (Note 3) |
||
Income statement |
FSA060 |
Half yearly (Note 3) |
||
Capital requirements |
FSA061 |
Half yearly (Note 3) |
||
Safeguarding |
FSA062 |
Half yearly (Note 3) |
||
Supplementary information |
FSA063 |
Half yearly (Note 3) |
||
No standard format |
Annual (Note 3) |
|||
Small electronic money institutions (Note 2) |
Return |
FSA064 |
Half yearly (note 5) |
|
Total electronic money outstanding @ 31st December |
FSA065 |
Annual (Note 5) |
1 month |
|
No standard format |
Annual (Note 5) |
|||
(a) the Post Office Limited (b) the Bank of England, the ECB and the national central banks of EEA States other than the United Kingdom (c) Government departments and local authorities (d) credit unions (e) municipal banks (f) the National Savings Bank |
No standard format |
Half yearly (Note 6) |
||
Note 1 |
When submitting the completed returns required, the authorised electronic money institution must use the format of the returns set out in SUP 16 Annex 30A to SUP 16 Annex 30E. |
|||
Note 2 |
When submitting the completed returns required, the small electronic money institution must use the format of the returns set out in SUP 16 Annex 30F to SUP 16 Annex 30G. |
|||
Note 3 |
Where the authorised electronic money institution's reporting frequency is half yearly or annual, this field is calculated from the authorised electronic money institution'saccounting reference date. |
|||
Note 4 |
The due dates for returns are the last day of the periods given in column (5) of the table above following the relevant reporting frequency period set out in column (4) of the table above. |
|||
Note 5 |
The reporting frequency in relation to FSA065 is calculated from 31 December each calendar year. Otherwise, where the small electronic money institution's reporting frequency is half yearly or annual, this field is calculated from the small electronic money institution'saccounting reference date. |
|||
Note 6 |
This is calculated from 31 December each calendar year. |
|||
In most cases, any person who carries on a regulated activity in the United Kingdom by way of business must either be an authorised person or an exempt person. Otherwise, the person commits a criminal offence and certain agreements may be unenforceable. PERG 2.2 (Introduction) contains further guidance on these consequences.2
An unauthorised person who intends to carry on activities connected with mortgages will also need to comply with section 21 of the Act (Restrictions on financial promotion). This guidance does not cover financial promotions that relate to mortgages. Persons should refer to the general guidance on financial promotion in Appendix 1 to the Authorisation manual, PERG 8 (Financial promotion and related activities)) and, in particular, to PERG 8.17 (Financial promotions concerning agreements
(1) Each EEA State, including the United Kingdom, is required to implement article 14 of the UCITS Directive by drawing up rules of conduct which management companies authorised in that State must observe at all times, except as explained in (3).(2) UK UCITS management companies operating an EEA UCITS scheme under the freedom to provide cross border services (otherwise than by establishing a branch in that State) are advised that, as provided for elsewhere in the Handbook, they
4The FCA5 would expect to provide a UK recognised body with individual guidance on the amount of eligible financial resources which it considers would be sufficient for the UK recognised body to hold in respect of operational and other risks in order to satisfy the recognition requirements. In formulating its individual guidance, the FCA5 will ordinarily apply the approach described in REC 2.3.9 G for UK RIEs.5555
4The FCA5 would normally expect to use the financial risk assessment prepared by the UK RIE in the course of preparing individual guidance on the amount of financial resources that it considers is sufficient for a UK RIE to hold in order to satisfy the recognition requirements. The financial risk assessment would provide the basis for calculating the amount of eligible financial resources that should be held by the UK RIE under the risk-based approach.5
4The FCA5 would expect to consider the financial risk assessment, any proposal with respect to an operational risk buffer and, if applicable, the consolidated balance sheet, in formulating its guidance on the amount of eligible financial resources it considers to be sufficient for the UK RIE to hold in order to meet the recognition requirements. In formulating its guidance, the FCA5 would, where relevant, consider whether or not the financial risk assessment makes adequate provision
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.
The status of the provisions in CREDS is indicated by icons containing the letters R, G or E. Please refer to chapter [...] of the Reader's Guide for further explanation about the significance of these icons. The Reader's Guide can be found 8at http://www.fca.org.uk/your-fca/documents/handbook/handbook-readers-guide
This chapter provides assistance in determining whether or not behaviour amounts to market abuse. It also forms part of the UK's implementation of the Market Abuse Directive (including its EU implementing legislation, that is Directive 2003/124/EC, Directive 2003/125/EC, Regulation 2273/2003 and Directive 2004/72/EC) and the auction regulation.4 It is therefore likely to be helpful to persons who:(1) want to avoid engaging in market abuseor to avoid requiring or encouraging another
The purpose of the guidance (other than in REC 6A) 2in this sourcebook is to give information on the recognised body requirements.3 The purpose of the guidance3 in REC 6A is to give EEA market operators information about their passporting rights in the United Kingdom2. Explanations of the purposes of the rules in this sourcebook are given in the chapters concerned.2233
(1) Most of the provisions in this sourcebook are marked with a G (to indicate guidance) or an R (to indicate a rule). Quotations from UK2 statute or statutory instruments are marked with the letters "UK"2 unless they form part of a piece of guidance. Quotations from the directly applicable MiFID Regulation are marked with the letters "EU". 2For a discussion of the status of provisions marked with a letter, see Chapter 6 of the Reader's Guide.21(2) Where the guidance states that