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LR 5.4A.15GRP
An issuer may take steps, in connection with a transfer, which require it to consider whether a prospectus is necessary, for example, if the company or its capital is reconstituted in a way that could amount to an offer of transferable securities to the public. The issuer and its advisers should consider whether directive obligations may be triggered.
TC App 4.1.1ERP

510679

Part 1: Activities

Note: The activity numbers in this table relate to the Regulated Activities in TC App 1.1.1 R. These tables do not cover activities 1, 5, 13A, 13B, 13C, 24, 25 or 26 as these activities do not have a qualification requirement.

Activity Number

Activity

Key - extent to which qualification meets qualification requirement

2

Advising on securities which are not stakeholder pension schemes, personal pension schemes or broker funds

(a)

Meets full qualification requirement on and after, 31 December 2012

3

Advising on derivatives

4 and 6

(4) Advising on retail investment products which are not broker funds and (6) advising on friendly societytax-exempt policies (other than Holloway sickness policies where the Holloway policy special application conditions are met)

(b)

Meets full qualification requirement until 31 December 2012. On and after 31 December 2012 this must be combined with qualification gap-fill. This gap-fill constitutes additional structured continuing professional development, which need not be by examination, completed and verified by an accredited body

12

Advising on and dealing in securities which are not stakeholder pension schemes, personal pension schemes or broker funds

13

Advising on and dealing in derivatives

Activity Number

Activity

Key - extent to which qualification meets qualification requirement

7

Advising on long-term care insurance contracts

1 or

(2 + 3) or

(4 + 5 + 6)

Meets full qualification requirement

8

Advising on investments in the course of corporate finance business

9

Advising on syndicate participation at Lloyd's

11

Undertaking the activity of a pension transfer specialist

14 and 10

Managing investments and/or undertaking the activity of a broker fund adviser

15

Overseeing on a day to day basis operating a collective investment scheme or undertaking activities of a trustee or depositary of a collective investment scheme

16

Overseeing on a day to day basis safeguarding and administering investments or holding client money

17

Overseeing on a day to day basis administrative functions in relation to managing investments:

(i) arranging settlement;

(ii) monitoring and processing corporate actions;

(iii) client account administration, liaison and reporting including valuation and performance measurement;

(iv) ISA or CTF administration;

(v) Investment trust savings scheme administration.

18

Overseeing on a day to day basis administrative functions in relation to effecting or carrying out contracts of insurance which are life policies:

(i) new business administration;

(ii) policy alterations including surrenders and policy loans;

(iii) preparing projections;

(iv) processing claims, including pension payments;

(v) fund switching

1 or

(2 + 3) or

(4 + 5 + 6)

Meets full qualification requirement

19

Overseeing on a day to day basis administrative functions in relation to the operation of stakeholder pension schemes:

(i) new business administration;

(ii) receipt of or alteration to contributions;

(iii) preparing projections and annual statements;

(iv) administration of transfers;

(v) handling claims, including pension payments;

(vi) fund allocation and switching.

20

Advising on a regulated mortgage contract for a non-business purpose

21

Advising on equity release transactions

22

Designing scripted questions for non-advised sales of14equity release transactions

23

Overseeing non-advised sales on a day-to-day basis of equity release transactions

Part 2: Appropriate Qualifications Tables

Qualification provider

Qualification

Activity Number(s)

Key

ACI The Financial Markets Association

ACI Diploma (provided it is accompanied by appropriate qualifications in Regulation and Ethics, Investment Principles and Risk and Personal Taxation)

2, 3, 12, 13

a

ACI Dealing Certificate when combined with Chartered Institute of Securities and Investment (CISI) Introduction to Securities and Investments and one of the Regulatory units of the Investment Operations Certificate (IOC)

15, 17

4

ACI Operations Certificate when combined with Chartered Institute of Securities and Investment (CISI) Introduction to Securities and Investments and one of the Regulatory units of the Investment Operations Certificate (IOC)

Association of Accounting Technicians

Member

15, 16, 17, 18, 19

4

Association of Certified International Investment Analysts (ACIIA)

CIIA qualification (provided it is accompanied by appropriate qualifications in Regulation and Ethics, Investment Principles and Risk and Personal Taxation)

2, 3, 12, 13

a

Certified International Investment Analyst (CIIA)

14 and 10

2

Association of Chartered Certified Accountants

Member or Affiliate

8

1

Fellow or Associate

15, 16, 17, 18, 19

4

Association of Corporate Treasurers

Fellow or Associate

15, 16, 17, 18, 19

4

Association of International Wealth Management (AIWM)

Certified International Wealth Manager Diploma (CIWM)

2, 3, 12, 13

a

14 and 10

1

Blackburn College - University Centre

Foundation Degree Award in Financial Services

4 and 6

a

Bournemouth University

BA in Financial Services (1995 to 2001)

4 and 6

b

MA in Financial Services (1995 to 2001)

Post Graduate in Financial Services (1995 to 2001)

Calibrand / Scottish Qualifications Authority

Diploma in Professional Financial Advice

4 and 6

a

Diploma in Professional Financial Advice (NMBA - Alternative Assessment method)

CASS Business School

MSC in Banking and International Finance (provided it is accompanied by appropriate qualifications in Regulation and Ethics, Investment Principles and Risk and Personal Taxation)

2, 3, 12, 13

a

12MSC in Investment Management pre 2003 syllabus (provided it is accompanied by appropriate qualifications in Regulation and Ethics and Personal Taxation)

2, 3, 12, 13

b

CFA Institute and the CFA Society of the UK

Level 1 of CFA Program plus Investment Management Certificate (Level 4)12

12

2, 3, 12, 13

a

Completion of CFA Program plus Investment Management Certificate Unit 1: The investment environment (Level 4)12

12

Holder of Associate qualification (associate member)12

12

2, 3, 12, 13

b

Level 1 of CFA Program plus Investment Management Certificate (Level 3)12

12

Completion of CFA Program plus Investment Management Certificate Unit 1: UK Regulation and Markets (level 3)12

12

Holder of Associate qualification (Fellow)12

12

CFA Program (Level 1)

14 and 10

2

Fellow or Associate by examination

8

1

14 and 10

15, 16, 17, 18, 19

4

Investment Management Asset Allocation Qualification13

1212

14 and 10

2

Investment Regulation and Practice Paper of the Associate Examination

15, 16, 17

5

CFA Society of UK (Formerly the UK Society of Investment Professionals/ Institute of Investment Management and Research (IIMR))

Investment Management Certificate (Level 4) plus other qualifications that meet specialist standards for advising on securities

12

2, 12

a

Investment Management Certificate (Level 4) plus other qualifications that meet specialist standards for advising on packaged products

12

4 and 6

Investment Management Certificate (Level 4) plus other qualifications that meet specialist standards for advising on derivatives

12

3, 13

Investment Management Certificate (Level 3 or 4)12

12

8

1

15, 16, 17, 18, 19

4

15, 16, 17

5

14 and 10

1

Investment Practice Paper (Unit 2) of Investment Management Certificate (Level 3 or 4)12

12

14 and 10

2
12

8

2

Investment Management Certificate Unit 1: UK Regulation and Markets (Level 3) or Investment Management Certificate Unit 1: The Investment Environment (Level 4)12

12

8

3

15, 16, 17, 19

5

18

6
12

14 and 10

3

Chartered Alternative Investment Analysis Association (CAIA)

CAIA Level 1 (provided it is accompanied by appropriate qualifications in Regulation and Ethics and Personal Taxation)

2, 12

b

Chartered Institute of Bankers in Ireland

Fellow or Associate

15, 16, 17, 18, 19

4

Chartered Institute of Bankers in Scotland

Diploma in Investment Planning (Existing Adviser) Post 2010 examination standards

4 and 6

a

Diploma in Investment Planning (New Adviser) Post 2010 examination standards

Post 2010 examination standards

Diploma in Investment Planning (Retail Banking) (Existing Adviser) Post 2010 examination standards

Diploma in investment planning (work based assessment)

Associate (March 1992 to July 1994 syllabus (including top-up test))

4 and 6

b

Associate (post August 1994 syllabus)

Certificate in Investment Planning (Pre 17/09/2004)

Chartered Banker (where candidates hold UK Financial Services and Investment modules)

Diploma in Investment Planning (current)

Associateship - (must include a pass in the Investment Paper)

2, 3, 12, 13

b

Certificate in Investment Planning - Paper 1

15, 16, 18, 19

4

15, 16, 17, 18, 19

5

Certificate in Investment Planning

17

4

Member or Associate

15, 16, 17, 18, 19

4

Mortgage Advice and Practice Certificate

20

1

Certificate in Mortgage Advice and Practice (MAPC) (Pre 16/09/2004)

20, 21, 22

1

MAPC bridge paper plus entry requirements (Pre 31/10/2004)

20

1

Certificate in Investment Planning - Paper 1 (Pre 16/09/2004)

20, 21, 22

3

MAPC - Paper 1 (Pre 16/09/2004)

20

3

Mortgage Advice and Practice Certificate - Paper 1 (Post 17/09/2004)

20, 21

3

Equity Release Mortgage Advice and Practice Certificate (ERMAPC)

21, 22

1

Lifetime Mortgage Advice and Practice Certificate

MAPC Bridge paper plus entry requirements (Pre 16/09/2004)

Certificate in Mortgage Advice and Practice (MAPC) (Pre 16/09/2004) - Paper 1

21, 22

3

Equity Release Mortgage Advice and Practice Certificate (ERMAPC)

23

4

23

5

23

6

Chartered Institute of Management Accountants

Fellow or Associate

15, 16, 17, 18, 19

4

Chartered Institute of Public Finance and Accountancy

Fellow or Associate

15, 16, 17, 18, 19

4

Chartered Institute for Securities and Investment (CISI) - (Formerly the Securities and Investment Institute (SII); formerly The Securities Association)

Investment Advice Diploma (where candidate holds 3 modules including the derivatives module)

3, 13

Investment Advice Diploma (where candidate holds 3 modules including the securities module)

2, 12

Masters in Wealth Management (Post 2010 examination standards)

2, 3, 4 and 6, 12, 13

Certificate in Private Client Investment Advice and Management

2, 3, 4 and 6, 12, 13

b

14 and 10

1

Certificate in Private Client Investment Advice and Management (attained through a CISI competency interview and presentation only)

2, 3, 4 and 6, 12, 13

b

14 and 10

1

Diploma (where candidate holds 3 modules as recommended by the firm)

2, 3, 4 and 6, 12, 13

b

Investment Advice Certificate

2, 3, 4 and 6, 12, 13

b

Masters in Wealth Management (Pre 2010 examination standards)

2, 3, 4 and 6, 12, 13

b

Member of the Securities Institute (MSI Dip) (where candidate holds 3 modules as recommended by the firm)

2, 3, 4 and 6, 12, 13

b

Certificate in Corporate Finance

8

1

15, 16, 17, 18, 19

4

Certificate in Derivatives - Paper 2

15, 16, 17, 18, 19

4

Certificate in Investment and Financial Advice - Paper 1

21, 22

3

Certificate in Investment Management (Level 3, pre 31 December 2013)13

8

1

15, 16, 17, 19

4

15, 16, 17

5

14 and 10

113

13Certificate in Investment Management (Level 4)

14 and 10

1

Certificate in Investment Management - Paper 2

8

2

14 and 10

Certificate in Securities

8

1

Certificate in Securities - Paper 2

15, 16, 17, 18, 19

4

Certificate in Securities and Derivatives - Paper 2

19

4

Certificate in Securities and Financial Derivatives

8

1

Certificate in Securities and Financial Derivatives - Paper 2

15, 16, 17, 18

4

Client Services Qualification

15, 16, 17, 18, 19

4

Diploma

15, 16, 17, 18, 19

4

Diploma - Corporate Finance Paper

8

2

Diploma - Global Operations Management Module

15, 16, 17, 18, 19

4

15, 16, 17

5

6

Diploma - International Operations Management Module

15

4

15, 16

5

6

17

4

5

6

Diploma - International Operations Module

16, 18, 19

4

Diploma - Operations Management Module

15, 16, 17, 18, 19

4

15, 17

5

15, 16, 17

6

Diploma - Regulation and Compliance Module

8

3

14 and 10

15, 16, 17, 18, 19

5

Diploma (must include a pass in Regulation and Compliance Paper)

8

1

Diploma (where candidate holds 3 modules as recommended by the firm)

14 and 10

1

12Diploma in Corporate Finance

8

1

Investment Administration Qualification - Asset Servicing Module

15, 16, 17

6

Investment Administration Qualification - Basics of CREST Module

15, 16, 17

6

Investment Administration Qualification - Bond Settlement Module

15, 16, 17

6

Investment Administration Qualification - Collective Investment Schemes Administration Module

15, 16, 17

6

Investment Administration Qualification - CREST Settlement Module

15, 16, 17

6

Investment Administration Qualification - Derivatives Operations Module

15, 16, 17

6

Investment Administration Qualification - Exchange - Traded Derivative Administration Module

15, 16, 17

6

Investment Administration Qualification - FSA Regulatory Environment Module

15, 16, 17

5

Investment Administration Qualification - Global Custody Module

15, 16, 17

6

Investment Administration Qualification - Global Securities Operations Module

16, 17

6

Investment Administration Qualification - Global Settlement Module

15, 16, 17

6

Investment Administration Qualification - IMRO Regulatory Environment Module

8

3

14 and 10

15, 16, 17, 18, 19

5

Investment Administration Qualification - Introduction to Securities and Investment Module

15, 16, 17, 18, 19

4

Investment Administration Qualification - ISA Administration Module

15, 16, 17

6

Investment Administration Qualification - ISA and CTF Administration Module

17

6

Investment Administration Qualification - ISA and PEP Administration Module

15, 16, 17

6

Investment Administration Qualification - Life Policy Administration Module

18

6

Investment Administration Qualification - OEIC Administration Module

15, 16, 17

6

Investment Administration Qualification - Operational Risk Module

15, 16, 17

6

Investment Administration Qualification - OTC Derivatives Administration Module

15, 16

6

Investment Administration Qualification - Pensions Administration Module

19

6

Investment Administration Qualification - PEP Administration Module

15, 16, 17

6

Investment Administration Qualification - Portfolio Performance Measurement Module

15, 16

6

Investment Administration Qualification - Private Client Administration Module

15, 16, 17

6

Investment Administration Qualification - SFA Regulatory Environment Module

8

3

14 and 10

15, 16, 17, 18

5

Investment Administration Qualification - Unit 2 FSA Regulatory Environment - (Formerly the Investment Administration Qualification - Regulatory Environment Module)

8

3

14 and 10

18, 19

5

Investment Administration Qualification - Unit Trust Administration Module

15, 16, 17

6

Investment Advice Certificate

14 and 10

1

Investment Advice Certificate - Paper 1

15, 16, 17, 18, 19

4

5

Investment Advice Certificate - Paper 1 (No new registrations)

20, 21, 22

3

Investment Advice Certificate - Paper 2

18, 19

6

Investment Advice Diploma (where candidates hold technical modules as recommended by the firm)

14 and 10

1

Investment Operations Certificate - Asset Servicing Module

15, 16, 17

6

Investment Operations Certificate - Collective Investment Schemes Administration Module

15, 16, 17

6

Investment Operations Certificate - CREST Settlement Module

15, 16, 17

6

Investment Operations Certificate - Exchange - Traded Derivative Administration Module

15, 16, 17

6

Investment Operations Certificate - UK13 Financial Regulation Module

13

8

3

14 and 10

15, 16, 17, 18, 19

5

Investment Operations Certificate - Global Securities Operations Module

17

6

Investment Operations Certificate - Global Securities Operations Module

16

6

Investment Operations Certificate - Introduction to Securities and Investment Module

15, 16, 17, 18, 19

4

Investment Operations Certificate - ISA Administration Module

15, 16, 17

6

Investment Operations Certificate - Operational Risk Module

15, 16, 17

6

Investment Operations Certificate - OTC Derivatives Administration Module

15, 16

6

Investment Operations Certificate - Administration of Settlement & Investments Module (previously known as the Private Client Administration Module)12

12

15, 16, 17

6

Level 3 Certificate in Investments (Derivatives) - Unit 3

15, 16, 17, 18, 19

4

Level 3 Certificate in Investments (Investment Management)

14 and 10

1

15, 16, 17, 18, 19

4

15, 16, 17

5

Level 3 Certificate in Investments (Investment Management) - Unit 5

8

2

14 and 10

Level 3 Certificate in Investments (Securities and Financial Derivatives)

8

1

15, 16, 17, 18, 19

4

Level 3 Certificate in Investments (Securities)

8

1

Level 3 Certificate in Investments (Securities) - Unit 2

15, 16, 17, 18, 19

4

Level 6 Diploma in Wealth Management

14 and 10

1

Masters in Wealth Management

14 and 10

1

Member of the Securities Institute by examination

15, 17, 19

4

Principles of UK13 Financial Regulation

8

3

18, 19

5

SFA Corporate Finance Representative Examination

8

1

15, 16, 17, 18, 19

4

SFA Futures and Options Representative Examination

15, 16, 17, 18, 19

4

15, 16, 17

5

SFA Registered Persons Examination - Section 1 (Regulation)

8

3

14 and 10

15, 16, 17, 18, 19

5

SFA Securities and Financial Derivatives Representative Examination

8

1

15, 16, 17, 18, 19

4

15, 16, 17

5

SFA Securities Representative Examination

8

1

15, 16, 17, 18, 19

4

16, 17

5

TSA Registered Representative Examinations

8

1

15, 16, 17, 18, 19

4

15, 16

5

Unit 1 - Financial Regulation

14 and 10

3

Unit 1 Financial Regulation (Formerly the Securities Institute Regulatory Paper)

8

3

15, 16, 17, 18, 19

5

Unit 6 - Principles of UK13 Financial Regulation

14 and 10

3

15, 16, 17

5

Chartered Insurance Institute

Certificate in Securities Advice and Dealing

2, 12

Diploma in Regulated Financial Planning

4 and 6

a

Diploma in Regulated Financial Planning (attained through a CII alternative assessment day)

Fellow or Associate (life and pensions route only)

2, 3, 12, 13

b

Advanced Financial Planning Certificate

2, 3, 4 and 6, 12, 13

b

Diploma in Financial Planning

4 and 6

b

Fellow (FCII) (where candidates hold appropriate life and pensions modules)

Fellow (FLIA Dip)

Advanced Diploma in Financial Planning

Associate (ACII) (where candidate holds appropriate life and pension modules)

Associate (ALIA Dip)

12Diploma in Financial Planning plus a pass in J12: Securities advice and dealing

2, 1213

13

a13

13

Certificate in Financial Planning plus the Award in Long Term Care Insurance

7

1

G80 paper of Advanced Financial Planning Certificate (October 2004) plus appropriate exam requirements for TC 2.1.4R(1)(f)

G70 Paper of the Advanced Financial Planning Certificate

8

1

Award in London Market Insurance

9

1

Fellow or Associate including three pensions-related subjects as confirmed by the examining body

11

1

G60 paper of Advanced Financial Planning Certificate

Unit AF3 of the Advanced Diploma in Financial Planning

Certificate of Insurance Practice

18

4

Certificate of Insurance Practice (life or pensions route)

18

6

FA1 - Life office administration

Fellow or Associate (life and pensions route only)

Life assurance paper (735) from the Associateship

Certificate of Insurance Practice (Pensions route)

19

6

Fellow or Associate (Pensions route)

Certificate in Mortgage Advice

20

1

Certificate in Equity Release (Formerly known as Certificate in Financial Planning and Lifetime Mortgages)

21

1

Certificate in Equity Release

22

1

23

4

23

5

23

6

Advanced Financial Planning Certificate (must include a pass in G70 paper)

14 and 10

1

Certificate in Discretionary Investment Management

Fellow or Associate

15, 16, 17, 18, 19

4

Financial Planning Certificate - Paper 1

15, 16, 17, 18, 19

4

15, 16, 17, 18, 19

5

CF1 - UK financial services, regulation and ethics

15, 16, 17, 1318, 19

4

15, 16, 17, 1318, 19

513

13RO1 Paper: Regulation and Ethics

15, 16, 17, 18, 19

4

15, 16, 17, 18, 19

5

FA2 - Pensions administration paper

18, 19

613

Financial Planning Certificate - Paper 2

Pensions law, taxation and administration paper (740) from the Associateship

18, 19

613

13Certificate in Investment Operations: Collective Investment Scheme Administration paper (FA4)

15, 16, 17

6

13Certificate in Investment Operations: Individual Savings Account Administration paper (FA5)

16, 17

6

13Certificate in Investment Operations: Investment Client Servicing paper (FA6)

15, 16, 17

6

Certificate in Mortgage Advice - Paper 1

20, 21

3

Mortgage Advice Qualification (MAQ) plus entry requirements

20, 21, 22

1

Financial Planning Certificate - Paper 1 (No new registrations after 17/12/2004)

20, 21, 22

313

13Deutsche Boerse AG

Certified Securities Trader (provided it is accompanied by appropriate qualifications in Regulation and Ethics, Investment Principles and Risk and Personal Taxation)

2, 12

b

13Deutsche Boerse AG and SIX Swiss Exchange

Certified Derivatives Trader (provided it is accompanied by appropriate qualifications in Regulation and Ethics, Investment Principles and Risk and Personal Taxation)

2, 12

b

3, 13

a

EFFAS Societies with accredited examinations

Certified European Financial Analyst

14 and 10

2

Faculty or Institute of Actuaries

Fellow or Associate or where the individual has passed all of the following modules CT1, CT2, CT4, CT5, CT6, CT7 and CT8

2, 3, 4 and 6, 12, 13

a

14 and 10

1

Associate - achieved by examination passed before 1 December 2001 (must include a pass in Subject 301 - Investment and Asset Management (syllabus in force from 1998)

14 and 10

1

Associate - achieved by examination passed after 1 December 2001 (must include a pass in subject 301 - Investment and Asset Management (syllabus in force from 1998)

14 and 10

2
12

Fellow - achieved by examination (must include a pass in subjects 301 and 401 Investment and Asset Management (syllabus in force from 1998))

14 and 10

1

Fellow or Associate

11

1

16, 17, 18, 19

4

18, 1912

6

Fellow or Associate by examination (must include Investment Paper E (Syllabus in force until 1998))

14 and 10

1

Fellow or where the individual has passed all of the following modules CA1 and SA2

18

4

Financial Industry Regulatory Authority (FINRA) - Formerly the National Association of Securities Dealers (NASD)

Series 7 - General Securities Representatives Examination (provided it is accompanied by appropriate qualifications in Regulation and Ethics and Personal Taxation)

2, 3, 12, 13

b

Financial Skills Partnership (formerly the Financial Services Skills Council (FSSC))

FSSC Advanced Apprenticeship in Advising on Financial Products (Long Term Care Insurance Pathway)

7

1

FSSC Advanced Apprenticeship in Retail Financial Services (Investment Administration Pathway including either Asset Servicing / CREST Settlement / Global Securities or ISA and CTF Administration)

17

6

FSSC Advanced Apprenticeship in Retail Financial Services (Investment Administration Pathway including FSA Regulatory Environment or Principles of Financial Regulation)

17

5

FSSC Advanced Apprenticeship in Retail Financial Services (investment Administration Pathway including the Introduction to Securities and Investment module)

17

4

FSSC AdvancedApprenticeship in Retail Financial Services (Long Term Insurance Pathway including CF1)

18

4

FSSC Advanced Apprenticeship in Retail Financial Services (Long Term Insurance Pathway including CF1)

18

5

FSSC Advanced Apprenticeship in Retail Financial Services (Long Term Insurance Pathway including CF1 and either FA1 or FA2)

18

6

FSSC Advanced Apprenticeship in Retail Financial Services (Long Term Insurance Pathway including CF1 and FA2)

19

1

FSSC Advanced Apprenticeship in Advising on Financial Products (Mortgage Advice Pathway)

20

1

ICMA Centre/ University of Reading (Formerly ISMA Centre/ University of Reading)

Diploma in Capital Markets, Regulation and Compliance

17

5

Operations Certificate Programme (OCP)

16, 17

6

ifs School of Finance(formerly the Chartered Institute of Bankers)

Diploma for Financial Advisers (post 2010 examination standards)

4 and 6

a

Professional Certificate in Banking (PCertB) (where candidate has passed the Practice of Financial Advice module)

Associateship - (must include a pass in the Investment / Investment Management Paper)

2, 3, 4 and 6, 12, 13

b

Diploma for Financial Advisers (pre 2010 examination standards)

4 and 6

b

Professional Investment Certificate

Certificate for Financial Advisers and Certificate in Long-term Care Insurance

7

1

Pensions paper of Professional Investment Certificate

11

1

Certificate for Financial Advisers - Paper 1

15

5

Fellow or Associate

15, 16, 17, 18, 19

4

Certificate for Financial Advisers - Paper 1 (Pre 31/10/2004)

15, 16, 17, 18, 19

4

5

20, 21, 22

3

Certificate for Financial Advisers - Paper 1 (Post 01/11/2004)

18, 19

4

5

Certificate for Financial Advisers - Paper 2 (Pre 31/10/2004)

18, 19

6

CeMAP Bridge paper plus entry requirements

20

1

Certificate in Mortgage Advice and Practice (Post 01/11/2004)

20

1

Diploma for Mortgage Advice and Practice DipMAP (plus entry requirements)

20

1

CeMAP bridge paper plus entry requirements (Pre 31/10/2004)

21, 22

1

Certificate in Mortgage Advice and Practice (CeMAP) (Pre 31/10/2004) - Paper 1

20, 21

3

Certificate in Mortgage Advice and Practice (Post 01/11/2004) - Paper 1

20, 21

3

Certificate in Mortgage Advice and Practice (CeMAP) (Pre 31/10/2004)

20, 21, 22

1

Certificate in Regulated Equity Release (Formerly known as Certificate in Lifetime Mortgages)

21, 22

1

23

4

23

5

23

6

Institute of Chartered Accountants in England and Wales

Fellow or Associate

8

1

15, 16, 17, 18, 19

4

Initial Test of Competence

18, 19

6

Institute of Chartered Accountants in Ireland

Fellow or Associate

8

1

15, 16, 17, 18, 19

4

Initial Test of Competence

19

6

Institute of Chartered Accountants in Scotland

Member

8

1

15, 16, 17, 18, 19

4

Initial Test of Competence

19

6

Institute of Chartered Secretaries and Administrators

Certificate in Collective Investment Scheme Administration

15, 16, 17, 18

4

5

15, 16

6

19

4

Certificate in Company Secretarial Practice and Share Registration Practice (including the Regulatory module within the examination)

15, 16. 17

4

5

6

Fellow or Associate

15, 16, 17, 18, 19

4

Institute of Financial Planning

Certified Financial Planner

4 and 6

b

Fellowship

Insurance Sector Education and Training Authority

National Diploma: Financial Services Long-Term Risk Assessment

7

2

Investment Management Association

Investment Administration Management Award

15, 16, 17

6

Investment Property Forum

IPF Certificate in Property Investment

14 and 10

2

Japanese Bankers Association

Registered Representative of Public Securities Examination (pre-April 1990)

8

2

Representative of Public Securities Qualification - Class 1

Japanese Securities Dealers Association

Representative of Public Securities Qualification - Type 1 (provided it is accompanied by appropriate qualifications in Regulation and Ethics, Investment Principles and Risk and Personal Taxation

2, 3, 12, 13

b

Representative of Public Securities Examination (pre April 1990)

8

2

Representative of Public Securities Qualification - Type 1

Law Society of England and Wales

Module B(ii), Securities and Portfolio Management

8

2

Module B(i), Retail Branded/ Packaged Products

18, 19

6

Law Society of England and Wales/ Law Society of Northern Ireland

Solicitor

15

4

Law Society of England and Wales/ Law Society of Scotland/ Law Society of Northern Ireland

Solicitor

17, 18, 19

4

Lloyd's

Lloyd's and London Market Introductory Test (Formerly the Lloyd's Introductory Test)

9

1

Lloyd's/ Chartered Insurance Institute

Lloyd's Market Certificate

9

1

London Stock Exchange (records are now kept by The Chartered Institute for Securities and Investment (CISI); Formerly the Securities and Investment Institute (SII); formerly The Securities Association)

London Stock Exchange Full Membership Exams (and other regional stock exchanges as merged with London Stock Exchange) - where candidate holds three or four papers or holds both the Stock Exchange Practice and Techniques of Investment papers

2, 3, 4 and 6, 12, 13

b

14 and 10

1

Stock Exchange Registered Representative Examination

8

1

15, 16, 17, 18, 19

4

15, 16

5

Manchester Metropolitan University

BA (Hons) Financial Services, Planning and Management

2, 3, 4 and 6, 12, 13

a

N/A

In-house module (only where the firm can demonstrate that none of the listed examinations are appropriate)

15, 16, 17, 18, 19

6

NIBE SVV the Dutch Institute for the Banking, Insurance and Stockbroking Industry

Examination

8

2

Pensions Management Institute

Diploma in Regulated Retirement Advice

4 and 6

a

11

1

Fellow or Associate by examination

11

1

Module 201: Providing for Retirement

19

4

512

612

Fellow or Associate

15, 16, 17, 18, 19

4

Diploma in Member-Directed Pension Scheme Administration

18

6

Fellow or Associate by examination

18, 19

6

Sheffield Hallam University

BA in Financial Services (1995 to 2001)

4 and 6

b

MA in Financial Services (1995 to 2001)

Post Graduate in Financial Services (1995 to 2001)

Society of Investment Analysts in Ireland

Certificate in Investment Management (at least 3 papers passed by examination)

14 and 10

2

South African Institute of Financial Markets

Ordinary and Senior Certificates

8, 14 and 10

2

Swiss Finance Institute

Dual degree Executive MBA in Asset and Wealth Management

14 and 10

2

The Securities Analysts Association of Japan (SAAJ)

CMA Level 2 (for individuals advising before 30 June 2009)

2, 3, 12, 13

b

CMA Level 2 (for individuals not advising before 30 June 2009 - provided it is accompanied by appropriate qualifications in Regulation and Ethics, Investment Principles and Risk and Personal Taxation)

CMA Level 2

8

2

Secondary Examination

Chartered Member

14 and 10

2

University of Stirling

BA in Finance

2, 4 and 6, 12

b

BA in Finance and Accounting

2, 3, 4 and 6, 12, 13

b

MSc in Finance

2, 3, 12, 13

b

MSc in international Accounting and Finance (where candidates hold modules as recommended by the firm)

2, 3, 12, 13

b

8

2

14 and 10

1

MSc in Investment Analysis

2, 3, 12, 13

b

14 and 10

1

University of the West of England

BA in Financial Services (1995 to 2001)

4 and 6

b

MA in Financial Services (1995 to 2001)

Post Graduate in Financial Services (1995 to 2001)
SUP 15.8.9RRP
10A BIPRUfirm must report to the appropriate regulator20 immediately any case in which its counterparty in a repurchase agreement or reverse repurchase agreement or securities or commodities lending or borrowing transaction defaults on its obligations.20
DTR 4.1.1RRP
1Subject to the exemptions set out in DTR 4.4 (Exemptions) this section applies to an issuer:(1) whose transferable securities are admitted to trading; and(2) whose Home State is the United Kingdom.
COLL 8.5.12GRP
The maximum period between dealing days for a qualified investor scheme will depend on the reasonable expectations of the target investor group and the particular investment objectives and policy of the scheme. For instance, for a scheme aiming to invest in large property developments, the expectation would be that it is reasonable to have a much longer period between dealing days for liquidity reasons than for a scheme investing predominantly in listed securities.
PERG 9.3.3GRP
An open-ended investment company may be described, in general terms, as a body corporate, most or all of the shares in, or securities of, which can be realised within a reasonable period. Realisation will typically involve the redemption or repurchase of shares in, or securities of, the body corporate. This realisation must be on the basis of the value of the property that the body corporate holds (that is, the net asset value).
LR 19.2.1RRP
An applicant for the admission of securitised derivatives must comply with LR 2 (Requirements for listing - all securities) and the following requirements.
COBS 16.3.2RRP
(1) In the case of a retail client, the periodic statement must be provided once every six months, except in the following cases:(a) if the retail client so requests, the periodic statement must be provided every three months;(b) if the retail client elects to receive information about executed transactions on a transaction-by-transaction basis (COBS 16.3.3 R) and there are no transactions in derivatives or other securities giving the right to acquire or sell a transferable security
MAR 5.3.8RRP
1Where a transferable security, which has been admitted to trading on a regulated market, is also traded on an MTF without the consent of the issuer, the firm operating the MTF must not make the issuer subject to any obligation relating to initial, ongoing or ad hoc financial disclosure with regard to that MTF.[Note: Article 14(6) of MiFID]
LR 13.3.1RRP
Every circular sent by a listed company to holders of its listed securities must:(1) provide a clear and adequate explanation of its subject matter giving due prominence to its essential characteristics, benefits and risks;(2) state why the security holder is being asked to vote or, if no vote is required, why the circular is being sent;(3) if voting or other action is required, contain all information necessary to allow the security holders to make a properly informed decision;(4)
LR 18.4.7GRP
1An issuer, whose securities are admitted to trading on a regulated market, should consider its obligations under DTR 4 (Periodic financial reporting), DTR 5 (Vote holder and issuer notification rules) and DTR 6 (Access to information).
PERG 2.3.2GRP
There is power in the Act for the Treasury to change the meaning of the business element by including or excluding certain things. They have exercised this power (see the Financial Services and Markets Act 2000 (Carrying on Regulated Activities by Way of Business) Order 2001 (SI 2001/1177), the Financial Services and Markets Act 2000 (Regulated Activities) (Amendment) (No.2) Order 2003 (SI 2003/1476),3 the Financial Services and Markets Act 2000 (Carrying on Regulated Activities
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
COLL 6.9.6GRP
(1) Regulation 15(9) of the OEIC Regulations, and sections 243(8) and 261D(10)6 of the Act require that an authorised fund's name must not be undesirable or misleading. This section contains guidance on some specific matters the FCA will consider in determining whether the name of an authorised fund is undesirable or misleading. It is in addition to the requirements of regulation 19 of the OEIC Regulations (Prohibition on certain names).6(2) The FCA will take into account whether
MAR 8.3.15GRP
The financial resources in respect of the requirement in MAR 8.3.13R (2):(1) can includeliquid financial assets held on the balance sheet of the benchmark administrator, for example, cash and liquid financial instruments where the financial instruments have minimal market and credit risk and are capable of being liquidated with minimal adverse price effect, common stock, retained earnings, disclosed reserves and other instruments generally classified as common equity tier one
SUP 18.4.37GRP
The appropriate authority2 will not decide whether to confirm the transfer or amalgamation at the hearing. A copy of its written decision, including its findings on the points made in representations, will be sent to the society(ies) and to those making representations. It will also be available to any other person on request and may be published.2