Related provisions for DISP 1.2.4
101 - 120 of 315 items.
(1) The information-sharing agreement referred to in COLL 11.5.1 R must include:(a) identification of the documents and categories of information which are to be routinely shared between both auditors;(b) whether the information or documents referred to in (a) are to be provided by one auditor to the other or made available on request;(c) the manner and timing, including any applicable deadlines, of the transmission of information by the auditor of the master UCITS to the auditor
Section 351A of the Act provides that where an auditor of an AUT or ACS1 which is a master UCITS or a feeder UCITS, or any person acting on their behalf, makes a disclosure to comply with rules implementing Chapter VIII of the UCITS Directive, that disclosure is not to be taken as a contravention of any duty to which the person making the disclosure is subject. The OEIC Regulations (see regulation 83A) contain corresponding provisions for auditors of ICVCs that are feeder UCITS
An announcement should be notified to a RIS no later than the date the terms of the disposal are agreed and should contain:(1) all relevant information required to be notified under LR 10.4.1 R;(2) the name of the acquirer and the expected date of completion of the disposal;(3) full disclosure about the continuing groups prospects for at least the current financial year;(4) a statement that the directors believe that the disposal is in the best interests of the company and shareholders
(1) The FCA will wish to examine the documents referred to in LR 10.8.3 G (including the RIS announcement) before it grants the modification and before the announcement is released.(2) The documents should ordinarily be lodged with the FCA:(a) in draft form at least five clear business days before the terms of the transaction are agreed; and(b) in final form on the day on which approval is sought.
(1) A firm must inform the account-holder in writing of the matters in (2) without delay where:(a) the account-holder overdraws on the current account without a pre-arranged overdraft, or exceeds a pre-arranged overdraft limit, for a period exceeding one month; (b) the amount of that overdraft or excess is significant throughout that period; (c) the overdraft or excess is a regulated credit agreement; and(d) the account-holder has not been informed in writing of the matters in
A firm will satisfy the disclosure obligation under this section if it:(1) discloses the essential arrangements relating to the fee, commission or non-monetary benefit in summary form;(2) undertakes to the client that further details will be disclosed on request; and(3) honours the undertaking in (2).[Note: article 26 of the MiFID implementing Directive and article 29(2) of the UCITS implementing Directive]7
(1) 1If a firm enters into an arrangement with another firm under which it makes or receives a payment of commission in relation to the sale of a packaged product that is increased in excess of the amount disclosed to the client, the firm is likely to have breached the rules on disclosure of charges, remuneration and commission (see COBS 6.4) and, where applicable, the rule on inducements in COBS 2.3.1R (2)(b), unless the increase is attributable to an increase in the premiums
(1) A firm must make a record of the information disclosed to the client in accordance with COBS 2.3.1R (2)(b)4 and must keep that record for at least five years from the date on which it was given.4(2) A firm must also 4make a record of each benefit given to another firm which does not have to be disclosed to the client4in accordance with COBS 2.3.1R (2)(b)(ii),4 and must keep that record for at least five years from the date on which it was given.14 [Note: see article 51(3)
Reasonable assistance in SUP 5.5.9 R should include:(1) access at all reasonable business hours for the skilled person to the firm's accounting and other records in whatever form;(2) providing such information and explanations as the skilled person reasonably considers necessary or desirable for the performance of his duties; and (3) permitting a skilled person to obtain such information directly from the firm's auditor as he reasonably considers necessary or desirable for the
Where the FCA3 appoints an investigator in response to a request from an overseas regulator or EEA regulator2 it may, under section 169(7) or section 131FA2 of the Act,
direct him to permit a representative of that regulator to attend and take
part in any interviews conducted for the purposes of the investigation. The FCA3 may
only give a direction under section 169(7) or section 131FA2 if it is satisfied that any information
obtained by an overseas regulator or EEA
regulator2
A firm in relation to a customer with whom it has entered into a debt management plan must: (1) maintain contact with the customer; [Note: paragraph 3.44 of DMG](2) regularly monitor and review the financial position and circumstances of the customer; [Note: paragraph 3.44 of DMG](3) adapt the debt management plan to take into account relevant changes in the financial position and circumstances of the customer;[Note: paragraph 3.44 of DMG](4) inform the customer without delay
(1) Evidence that there may have been a material change in a customer's financial circumstances is likely to include where a customer who has not previously missed payments under a debt management plan misses such payments. [Note: paragraph 3.45ci of DMG](2) Where the firm informs a customer of the outcome of a review of a debt management plan, it should seek to discuss with the customer any changes to the plan or to the firm's service at the earliest reasonably opportunity. [Note:
Application forms must always be completed fully and honestly. Further notes on how to complete the form are contained in each form. If forms are not completed fully and honestly, applications will be subject to investigation and the FCAcandidate's suitability to be approved to undertake an FCA controlled function will be called into question. A person who provides information to the FCA that is false or misleading may commit a criminal offence, and could face prosecution under
Before making a decision to grant the application or give a warning notice, the FCA may ask the firm for more information about the FCA candidate. If it does this, the three-month period in which the FCA must determine a completed application:(1) will stop on the day the FCA requests the information; and(2) will start running again on the day on which the FCA finally receives all the requested information.
The accounting policies and presentation applied to half-yearly figures must be consistent with those applied in the latest published annual accounts except where:(1) the accounting policies and presentation are to be changed in the subsequent annual financial statements, in which case the new accounting policies and presentation should be followed and the changes and the reasons for the changes should be disclosed in the half-yearly report; or(2) the FCA otherwise agrees.
(1) In addition to the requirement set out in DTR 4.2.7 R, an issuer of shares must disclose in the interim management report the following information, as a minimum:(a) related parties transactions that have taken place in the first six months of the current financial year and that have materially affected the financial position or the performance of the enterprise during that period; and(b) any changes in the related parties transactions described in the last annual report that
There are other pre-contract information requirements outside this chapter, including:(1) for financial promotions, inthe financial promotion rules;55(2) for designated investment business, inCOBS 8 (Client agreements), COBS 5 (Distance Communications), COBS 6 (Information about the firm, its services and remuneration), COBS 13 and 14 (which relate to product information)5 and CASS (Client assets);5(3) for non-investment insurance contracts3, distance communication requirements
Under cooperation agreements between EEA regulators, if it has serious concerns about the proposed transferee, the appropriate regulator3 should inform the regulatory body of the transferor within 3 months of the original request from that regulatory body. The appropriate regulator3 is not obliged to reply, but if it does not, its opinion is taken to be favourable3. Although the protocol does not apply to Switzerland, the appropriate regulator3 is required to cooperate with the
2The FCA will make its assessment of whether the accounting and other standards applicable to an investment exchange or multilateral trading facility as a result of securities being admitted to trading are appropriate for the purpose of LR 13.5.27R (1)(b) having regard to at least the following matters in relation to the legal and regulatory framework applying to the target by virtue of its admission to that market:(1) the quality of auditing standards compared with International
A firm which is included within comparable disclosures provided on a consolidated basis by a parent undertaking whose head office is not in an EEA State may apply for a waiver from the relevant disclosure requirements in BIPRU 11.2.2 R - BIPRU 11.2.5 R. The appropriate regulator's approach to granting waivers is set out in the Supervision manual (see SUP 8).[Note: BCD Article 72(3)]
A firm applying for a waiver from one or more of the disclosure requirements in BIPRU 11.2.2 R - BIPRU 11.2.5 R will need to:(1) satisfy the appropriate regulator that it is included within comparable disclosures provided on a consolidated basis by a parent undertaking whose head office is not in an EEA State; and(2) notify the appropriate regulator of the location where the comparable disclosures are provided.
(1) When a firm provides a quotation to a customer in connection with a prospective credit agreement which would or might be secured on the customer's home, the firm must include (or cause to be included) in the quotation a statement that such security would or might be required. [Note: regulation 3a of SI 1999/2725](2) When a firm provides a quotation to a customer (C) in connection with a prospective credit agreement which would or might be secured on C’s home under which, while
(1) When a firm provides a quotation to a customer in connection with a prospective credit agreement which would or might be secured on the customer's home, the firm must include (or cause to be included) in the quotation a statement that such security would or might be required.[Note: regulation 6 of SI 1999/2725](2) When a firm provides a quotation to a customer (C) in connection with a prospective credit agreement which would or might be secured on C’s home under which, while
Behaviour conforming with any of the rules of the Takeover Codeabout the timing, dissemination or availability, content and standard of care applicable to a disclosure, announcement, communication or release of information, does not, of itself, amount to market abuse, if:1(1) the rule is one of those specified in the table in MAR 1.10.5 C;(2) the behaviour is expressly required or expressly permitted by the rule in question (the notes for the time being associated with the rules
1Table: Provisions of the Takeover Code conformity with which will not, of itself, amount to market abuse (This table belongs to MAR 1.10.4C):1
Takeover Code provisions: |
|
Disclosure of information which is not generally available |
1(a) 2.1 plus notes, 2.5, 2.6, 2.9 plus notes 8 19.7 20.1, 20.2, 20.3 28.4 37.3(b) and 37.4(a) |
Standards of care |
2.8 first sentence and note 4 19.1, 19.5 second sentence and note 2, 19.8 23 plus notes 28.1 |
Timing of announcements, documentation and dealings |
2.2, 2.4(b) 5.4 6.2(b) 7.1 11.1 note 6 only 17.1 21.2 30 31.6(c), 31.9 33 (in so far as it refers 31.6(c) and 31.9 only) 38.5 |
Content of announcements |
2.4 (a) and (b) 19.31 |
DTR 7.1 does not apply to:(1) any issuer which
is a subsidiary undertaking of
a parent undertaking where the parent undertaking is subject to DTR 7.1, or
to requirements implementing Article 41 of the Audit
Directive in any other EEA State;[Note: Article 41.6(a) of the Audit Directive](2) any issuer the sole
business of which is to act as the issuer of asset-backed
securities provided the entity makes a statement available to
the public setting out the reasons for which it considers
4As well as potentially breaching the requirements in this section, misleading statements by a firm may involve a breach of Principle 7 (Communications with clients) or section Part 7 (Offences relating to financial services) of the Financial Services Act 2012, as well as giving rise to private law actions for misrepresentation.
A financial promotion for an overseas long-term insurer, which has no establishment in the United Kingdom, must include:(1) the full name of the overseas long-term insurer, the country where it is registered, and, if different, the country where its head office is situated;(2) a prominent statement that 'holders of policies issued by the company will not be protected by the Financial Services Compensation Scheme if the company becomes unable to meet its liabilities to them'; and(3)
A financial promotion for an overseas long-term insurer which is authorised to carry on long-term insurance business in any country or territory listed in paragraph (c) of the Glossary definition of overseas long-term insurer must also include:(1) the full name of any trustee of property of any description which is retained by the overseas long-term insurer in respect of the promoted contracts;(2) an indication whether the investment of such property (or any part of it) is managed
A firm is required to provide the appropriate regulator9 with a wide range of information to enable the appropriate regulator9 to meet its responsibilities for monitoring the firm's compliance with requirements imposed by or under the Act. Some of this information is provided through regular reports, including those set out in SUP 16 (Reporting requirements) and SUP 17 (Transaction reporting). In addition, other chapters in the Handbook set out specific notification and reporting
This chapter sets out:(1) guidance on the type of event or change in condition which a firm should consider notifying in accordance with Principle 11; the purpose of this guidance is to set out examples and not to give comprehensive advice to firms on what they should notify in order to be in compliance with Principle 11;(2) rules on events and changes in condition that a firm must notify; these are the types of event that the appropriate regulator9 must be informed about, usually