Related provisions for BIPRU 7.10.55C

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SUP 16.13.2GRP
The purpose of this section is to give directions to authorised payment institutions and small payment institutions under regulation 82 (Reporting requirements) of the Payment Services Regulations in relation to:(1) the information in respect of their provision of payment services and their compliance with requirements imposed by or under Parts 2 to 6 of the Payment Services Regulations that they must provide to the FCA12; and12(2) the time at which and the form in which they
BIPRU 12.8.11GRP
In each application for an intra-group liquidity modification, the appropriate regulator will consider the extent to which it is appropriate to modify the overall liquidity adequacy rule to allow reliance by an applicant firm on liquidity resources elsewhere in a firm'sgroup. However, it is unlikely that the appropriate regulator would consider the conditions in section 138A of the Act to be met in circumstances in which the overall liquidity adequacy rule was modified to allow
BIPRU 4.9.13GRP
For the purposes of BIPRU 4.9.12 R (1), in the case of non-equity exposures a firm should look at the risk profile of the underlying exposures and map these to an equivalent equity risk weight. For example, if the underlying exposures are exchange-traded, the risk weight of exchange-traded equity exposures will apply. If the underlying exposures are unknown, the risk weight of the other equity class will apply. Only under exceptional circumstances would supervisors expect to see
SUP 9.3.1GRP
Business and internal control risks vary from firm to firm, according to the nature and complexity of the business. The FCA's assessment of these risks is reflected in how its rules apply to different categories of firm as well as in the use of its other regulatory tools. One of the tools the FCA has available is to give a firm individual guidance on the application of the requirements or standards under the regulatory system in the firm's particular circumstances.
FEES 3.1.6GRP
Applications for Part 4A permission (and exercises of Treaty rights) are categorised by the appropriate regulator for the purpose of fee raising as complex, moderately complex and straightforward as identified in FEES 3 Annex 1. This differentiation is based on the permitted activities sought and does not reflect the appropriate regulator's risk assessment of the applicant (or Treaty firm).
BIPRU 2.1.20RRP
The risk evaluation, measurement and control procedures of the firm must cover the subsidiary undertaking referred to in BIPRU 2.1.19 R.
TC 2.1.32GRP
17When considering whether an event is significant a firm should include the following in its considerations:(1) the potential risk of consumer detriment as a result of the event;(2) whether the event or a pattern of events indicate recurrent issues in relation to one or more retail investment advisers; and(3) its obligations under Principle 11.
SYSC 21.1.2GRP
(1) A Chief Risk Officer should:(a) be accountable to the firm'sgoverning body for oversight of firm-wide risk management;(b) be fully independent of a firm's individual business units;(c) have sufficient authority, stature and resources for the effective execution of his responsibilities; (d) have unfettered access to any parts of the firm's business capable of having an impact on the firm's risk profile; (e) ensure that the data used by the firm to assess its risks are fit for
BIPRU 9.14.3RRP
Where a firm uses the supervisory formula method to calculate the risk weighted exposure amounts of securitisation positions, the firm may recognise credit risk mitigation in accordance with BIPRU 9.14.4 R to BIPRU 9.14.5 R and BIPRU 9.14.7 R to BIPRU 9.14.13 R.[Note:BCD Annex IX Part 4 point 54]
IFPRU 4.2.11GRP
The FCA expects a firm's assessment of whether types of exposure referred to in article 128(3) of the EU CRR are associated with particularly high risk to include consideration of exposures arising out of a venture capital business (whether the firm itself carries on the venture capital business or not) . The FCA considers "venture capital business" to include the business of carrying on any of the following:(1) advising on investments, managing investments, arranging (bringing
APER 4.5.15GRP
In organising the business, the approved person performing a significant influence function should pay attention to any temporary vacancies which exist (see APER 4.5.9 E (3)). He should take reasonable steps to ensure that suitable cover for responsibilities is arranged. This could include taking on temporary staff or external consultants. The approved person performing a significant influence function should assess the risk that is posed to compliance with the requirements and
BIPRU 2.3.10GRP
Under GENPRU 1.2.60 R, a firm is required to make a written record of its assessments made under GENPRU 1.2. A firm's record of its approach to evaluating and managing interest rate risk as it affects the firm's non-trading activities should cover the following issues:(1) the internal definition of and boundary between "banking book" and "trading activities" (see BIPRU 1.2);(2) the definition of economic value and its consistency with the method used to value assets and liabilities
APER 4.6.12GRP
(1) It is important for the approved person performing a significant influence function to understand the business for which he is responsible (APER 4.6.4 E). An approved person performing a significant influence function is unlikely to be an expert in all aspects of a complex financial services business. However, he should understand and inform himself about the business sufficiently to understand the risks of its trading, credit or other business activities.(2) It is important
BIPRU 3.2.14GRP
A key driver of the preferential risk weight afforded retail exposures is the lower correlation and systematic risk associated with such exposures. This aspect is unrelated to the absolute number of retail exposures. Accordingly in defining what constitutes a significant number of retail exposures for the purpose of BIPRU 3.2.10 R (2), a firm need only satisfy itself that the number of retail exposures is sufficiently large to diversify away idiosyncratic risk. This assessment
BIPRU 9.10.7RRP
For the purposes of BIPRU 9.10.2 R (as it applies to the IRB approach):(1) the exposure value of the position may be derived from the risk weighted exposure amounts taking into account any reductions made in accordance with BIPRU 9.10.4 RBIPRU 9.10.6 R;(2) where the supervisory formula method is used to calculate risk weighted exposure amounts and L KIRBR and [L+T] > KIRBR the position may be treated as two positions with L equal to KIRBR for the more senior of the positions.[Note:BCD
BIPRU 4.10.48RRP
The criteria applied by BIPRU 4.10.47 R must address the payout structure of the credit derivative and conservatively assess the impact this has on the level and timing of recoveries. A firm must consider the extent to which other forms of residual risk remain.[Note: BCD Annex VII Part 4 point 104]
CREDS 2.2.46GRP
The key elements of a satisfactory system of internal audit include the following:(1) Terms of reference. These should be specified with precision and include, amongst other things, scope and objectives of the audit committee and the internal audit function (see CREDS 2.2.11G), access to records, powers to obtain information and explanations for officers, and reporting requirements. These should be approved by the committee of management.(2) Risk analysis. Key risks in each area
SUP 16.12.33RRP

Financial reports from a member of a financial conglomerate (see SUP 16.12.32 R)

Content of Report

Form (Note 1)

Frequency

Due Date

Calculation of supplementary capital adequacy requirements in accordance with one of the three42 technical calculation methods

42

Note 2

Note 5

Yearly42

Note 5

Identification of significant risk concentration levels

Note 3

Yearly

4 months after year end

Identification of significant intra-group transactions

Note 4

Yearly

4 months after year end

Report on compliance with GENPRU 3.1.35 R where it applies

11

Note 6

Note 5

Note 5

Note 1

When giving the report required, a firm must use the form indicated, if any.

Note 2

If Part 1 of GENPRU 3 Annex 1(method 1), or42 Part 2 of GENPRU 3 Annex 1 (method 2), or Part 3 of GENPRU 3 Annex 1 (method 3) applies, there is no specific form. Adequate information must be provided, specifying the calculation method used42 and each financial conglomerate for which the appropriate regulator96 is the co-ordinator must discuss with the appropriate regulator96 the form which this reporting will take and the extent to which verification by an auditor will be required.42

11969642
42
42

For the purposes of the above, where relevant to the agreed reporting arrangements,42rules 9.40(1), 9.40(1A), 9.40(3) and 9.40(4) of IPRU(INS) apply as they would if the financial conglomerate42 were an insurance group.

4242

Note 3

Rather than specifying a standard format for each financial conglomerate to use, each financial conglomerate for which the appropriate regulator96 is the co-ordinator must discuss with the appropriate regulator96 the form of the information to be reported. This should mean that usual information management systems of the financial conglomerate can be used to the extent possible to generate and analyse the information required.

When reviewing the risk concentration levels, the appropriate regulator96 will in particular monitor the possible risk of contagion in the financial conglomerate, the risk of a conflict of interests, the risk of circumvention of sectoral rules, and the level or volume of risks.

969696

Note 4

For the purposes of this reporting requirement, an intra-group transaction will be presumed to be significant if its amount exceeds 5% of the total amount of capital adequacy requirements at the level of the financial conglomerate.

Rather than specifying a standard format for each financial conglomerate to use, each financial conglomerate for which the appropriate regulator96 is the co-ordinator must11 discuss with the appropriate regulator96 the form of the information to be reported. This should mean that usual information management systems of the financial conglomerate can be used to the extent possible to generate and analyse the information required.

When reviewing the intra-group transactions, the appropriate regulator96 will in particular monitor the possible risk of contagion in the financial conglomerate, the risk of a conflict of interest11, the risk of circumvention of sectoral rules, and the level or volume of risks.

96119696

Note 5

The frequency and due date will be as follows:

(1)banking and investment services conglomerate:11 frequency isyearly42 with due date 45 business days after period end;42

(2) insurance conglomerate: frequency is yearly with due date four months after period end for the capital adequacy return and three months after period end for the report on compliance with GENPRU 3.1.35 R where it applies.

1142

Note 6

Adequate information must be added as a separate item to the relevant form for sectoral reporting.