Related provisions for FEES 6.5.9B
201 - 220 of 287 items.
DISP 1.3.3 R requires the firm to put in place appropriate management controls and take reasonable steps to ensure that in handling complaints it identifies and remedies any recurring or systemic problems. If a firm receives complaints about its sales of payment protection contracts it should analyse the root causes of those complaints including, but not limited to, the consideration of:(1) the concerns raised by complainants (both at the time of the sale and subsequently);(2)
3In assessing whether the voting rights attaching to different classes of
premium listedshares are proportionate for the purposes of Premium Listing Principle 4, the FCA will have regard to the following non-exhaustive list of factors:(1) the extent to which the rights of the classes differ other than their voting rights, for example with regard to dividend rights or entitlement to any surplus capital on winding up;(2) the extent of dispersion and relative liquidity of the classes;
GEN 1.3.2 R operates on the appropriate regulator's9rules. It does not affect the appropriate regulator's9 powers to take action against a firm in an emergency, based on contravention of other requirements and standards under the regulatory system. For example, the appropriate regulator9 may exercise its own-initiative power in appropriate cases to vary a firm'sPart 4A permission9 based on a failure or potential failure to satisfy the threshold conditions (see SUP 7 (Individual9
The following events are examples of events likely to affect an assessment of whether an ROIE1 is continuing to satisfy the recognition requirements11(1) significant changes to any relevant law or regulation in its home territory, including laws or regulations:(a) governing exchanges or, if relevant to an ROIE's satisfaction of the recognition requirements,1clearing houses;(b) designed to prevent insider dealing, market manipulation or other forms of market abuse or misconduct;(c)
(1) Key individuals include the persons who, under the operational or managerial arrangements of the UK recognised body, are appointed to manage the departments responsible for carrying out its relevant functions, whether or not they are members of its governing body. A person appointed to carry out specific tasks, such as to conduct a particular investigation into a specific set of facts, would not usually be a key individual.(2) A key individual need not be an employee of a
Firms which
carry on designated investment business which
may, for example, involve them handling client
money in respect of life assurance business should refer to the non-directive
client money chapter4 which includes provisions enabling firms to elect to comply solely with that chapter4 or with the insurance
client money chapter4 in respect of that business. Firms that also carry on5MiFID
or equivalent third country business5 may
elect to comply solely with the MiFID client
money
(1) 2£500,000 is a particularly high amount for the purpose of SYSC 19B.1.18R (4).(2) Paragraph (1) is without prejudice to the possibility of lower sums being considered a particularly high amount.(3) Whilst any variable remuneration component of £500,000 or more paid to AIFM Remuneration Code staff should be subject to 60% deferral, firms should also consider whether lesser amounts should be considered to be 'particularly high', taking account, for example, of whether there
Firms are reminded that, under CASS 11.4.3 R, if a firm has drawn any cheques, or other payable orders, to discharge its fiduciary duty to its clients (for example, to return client money to the client or distribute it to the client's creditors), the sum concerned must be included in the firm's calculation of its client money requirement until the cheque or order is presented and paid.
If admission
to trading of non-equity transferable
securities whose denomination per unit amounts to at least 100,0003 euros (or an equivalent amount)
is sought in the United Kingdom or
in one or more other EEA States,
the prospectus must be drawn
up in either a language accepted by the competent authorities of the Home State and Host
States or in a language customary in the sphere of international
finance, at the choice of the issuer, offeror or person requesting
admission (as
(1) A firm must not agree to:(a) deal in investments as agent for an insurance undertaking in connection with insurance mediation; or(b) act
as agent for an insurance undertaking for
the purpose of settling claims or handling premium refunds;
or(c) otherwise
receive money as agent of an insurance undertaking;unless:(d) it
has entered into a written agreement with the insurance
undertaking to that effect; and(e) it
is satisfied on reasonable grounds that the terms of the policies
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. |
|
Member of the governing body of a club or other unincorporated association such as a trade body and a student union. |
|
Pension trustee. |
|
Person taking out a policy covering property bought under a buy-to-let mortgage. |
|
Partner in a partnership when taking out insurance for purposes related to his profession. |
|
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
An auditor which a firm proposes to appoint should have skills, resources and experience commensurate with the nature, scale and complexity of the firm's business and the requirements and standards under the regulatory system to which it is subject. A firm should have regard to whether its proposed auditor has expertise in the relevant requirements and standards (which may involve access to UK expertise) and possesses or has access to appropriate specialist skill, for example