Related provisions for FEES 6.5.9B
221 - 240 of 286 items.
The format of a statement of demands and needs is flexible. Examples of approaches that may be appropriate where a personal recommendation has not been given include:(1) providing a demands and needs statement as part of an application form, so that the demands and needs statement is made dependent upon the customer providing personal information on the application form. For instance, the application form might include a statement along the lines of: "If you answer 'yes' to questions
In practice, private individuals may act in a number of capacities. The following table sets out a number of examples of how an individual acting in certain capacities should, in the FCA's view, be categorised.
Customer classification examples |
|
Capacity |
Classification |
Personal representatives, including executors, unless they are acting in a professional capacity, for example, a solicitor acting as executor. |
|
Private individuals acting in personal or other family circumstances, for example, as trustee of a family trust. |
|
Trustee of a trust such as a housing or NHS trust. |
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Member of the governing body of a club or other unincorporated association such as a trade body and a student union. |
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Pension trustee. |
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Person taking out a policy covering property bought under a buy-to-let mortgage. |
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Partner in a partnership when taking out insurance for purposes related to his profession. |
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If a CASS debt management firm is unable to identify money that it has received as either client money or its own money under CASS 11.9.8 R (1), it should consider whether it would be appropriate to return the money to the person who sent it (or, if that is not possible, to the source from where it was received, for example, the bank). A firm should have regard to its fiduciary duties when considering such matters.
(1) An application to the FCA to dispense with or modify a listing rule must be in writing.(2) The application must:(a) contain a clear explanation of why the dispensation or modification is requested;(b) include details of any special requirements, for example, the date by which the dispensation or modification is required;(c) contain all relevant information that should reasonably be brought to the FCA's attention;(d) contain any statement or information that is required by
A firm may choose to use a less detailed term structure than that in the table in BIPRU 7.9.32G, but the shifts used should be no less conservative than those set out in that table. For example, a firm that uses one <3 month band, rather than the two bands (≤ 1 month and 1-3 months) set out in the table, should use the most conservative shift set out in the table for the bands covered. In this example that shift is 30%.
The information referred to in COLL 7.5.1 G is listed below:(1) the name of the authorised fund or sub-fund;(2) the size of the authorised fund or sub-fund;(3) the number of unitholders; (4) whether dealing in units has been suspended;(5) why the request is being made; (6) what consideration has been given to the authorised fund or sub-fund entering into a scheme of arrangement with another regulated collective investment scheme and the reasons why a scheme of arrangement is not
(Subject to MCOB 7.7.5 R) a firm that enters into a regulated mortgage contract with a customer must provide the customer with the following information before the customer makes the first payment under that regulated mortgage contract:1(1) the amount of the first payment required;(2) the amount of the subsequent payment(s) if different from the first payment;(3) the method by which the payment will be collected (for example, by direct debit) and the date of collection of the
It is only where there are grounds to think that there is a significant doubt as to the principal purpose of a publication or service that the question of whether or not to apply to the FCA for a certificate under article 54 of the Regulated Activities Order is expected to arise. For example, this may happen where a publication or service has several significant purposes and one of them is a disqualifying purpose referred to in the exclusion in article 54. It may on occasion be
(1) 1Before undertaking a class hedging transaction for a class of units, the authorised fund manager should:2(a) ensure that the relevant prospectus clearly:(i) states that such a transaction may be undertaken for the relevant class of units2; and(ii) explains the nature of the risks that such a transaction may pose to investors in all classes;(b) consult the depositary about the adequacy of the systems and controls it uses to ensure compliance with COLL 3.3.5A R (Hedging of
Some typical examples where the business test is unlikely to be satisfied are:(1) when an individual enters into or administers a one-off mortgage securing a loan to a friend or member of his family whether at market interest rates or not; or(2) when a person provides a service without any expectation of reward or payment of any kind, such as advice given or arrangements made by many Citizens Advice Bureaux and other voluntary sector agencies (but see PERG 4.3.8G (3) where payment
Where a tied product is operated separately from the instalment reversion plan, for example where the premiums on a tied insurance product are not combined with amounts released under the instalment reversion plan, the statement relating to the tied product may be provided in a separate communication.
3The Principles will not apply to the extent that they purport to impose an obligation which is inconsistent with the Payment Services Directive, the11Consumer Credit Directive10 or the Electronic Money Directive.5 For example, there may be circumstances in which Principle 6 may be limited by the harmonised conduct of business obligations applied by the Payment Services Directive and Electronic Money Directive5 to credit institutions (see Parts 5 and 6 of the Payment Services
(1) An application to the FCA to dispense with or modify a requirement in DTR 8 must be in writing.(2) The application must:(a) contain a clear explanation of why the dispensation or modification is requested;(b) include details of any special requirements, for example, the date by which the dispensation or modification is required;(c) contain all relevant information that should reasonably be brought to the FCA's attention;(d) contain any statement or information that is required
If the appropriate regulator4 is considering asking for the information specified in SUP 5.5.2 G it will take into consideration the cost of the skilled person complying with the request, and the benefit that the appropriate regulator4 may derive from the information. For example, in most cases, the appropriate regulator4 will not need to request a skilled person to give it source data, documents and working papers. However, the appropriate regulator4 may do so when it reasonably
(1) Issuers which are subject to an obligation to publish a prospectus under the Prospectus Directive are required by Article 3 of the PD Regulation to disclose risk factors. These requirements are set out in PR 2.3.1 EU and PR App 3.1.1 EU.(2) In complying with these obligations, issuers should consider disclosing the risk that actions by a regulatory authority in relation to the issuer may adversely affect the ability of the issuer to meet its obligations to investors or the