Related provisions for SUP 3.10.9B

21 - 40 of 48 items.

SUP 4.2.1G01/04/2013

Section 340 of the Act gives the PRA6 power to make rules requiring an authorised person, or an authorised person falling into a specified class, to appoint an actuary3. Section 340 further empowers the PRA6 to make rules governing the manner, timing and notification of such an appointment and, where an appointment is not made, for the PRA6 to make an appointment on the firm's behalf. The rule-making powers of the PRA and FCA6 under section 340 of the Act also extend to an actuary's3

REC 5.2.14G01/04/2013

Information and supporting documentation (see REC 5.2.4 G).

(1)	Details of the applicant's constitution, structure and ownership, including its memorandum and articles of association (or similar or analogous documents ) and any agreements between the applicant, its owners or other persons relating to its constitution or governance (if not contained in the information listed in REC 5.2.3A G)1. An applicant for RAP status must provide details of the relationship between the governance arrangements in place for the UK RIE and the RAP.3
(2)	Details of all business to be conducted by the applicant, whether or not a regulated activity (if not contained in the information listed in REC 5.2.3A G)1.
(3)	Details of the facilities which the applicant plans to operate, including details of the trading platform or (for an RAP) auction platform,3 settlement arrangements, clearing facilitation services5 and custody services which it plans to supply. An applicant for RAP status must provide details on the relationship between the auction platform and any secondary market in emissions auction products 4 which it operates or plans to operate.3 5 4
(4)	Copies of the last three annual reports and accounts and, for the current financial year, quarterly management accounts.
(5)	Details of its business plan for the first three years of operation as a UK recognised body (if not contained in the information listed in REC 5.2.3A G)1.
(6)	A full organisation chart and a list of the posts to be held by key individuals (with details of the duties and responsibilities) and the names of the persons proposed for these appointments when these names are available (if not contained in the information listed in REC 5.2.3A G)1.
(7)	Details of its auditors, bankers, solicitors and any persons providing corporate finance advice or similar services (such as reporting accountants) to the applicant.
(8)	Details of any relevant functions to be outsourced or delegated, with copies of relevant agreements.
(9)	Details of information technology systems and of arrangements for their supply, management, maintenance and upgrading, and security.
(10)	Details of all plans to minimise disruption to operation of its facilities in the event of the failure of its information technology systems.
(11)	Details of internal systems for financial control, arrangements for risk management and insurance arrangements to cover operational and other risks.
(12)	Details of its arrangements for managing any counterparty risks. 5
(13)	Details of internal arrangements to safeguard confidential or privileged information and for handling conflicts of interest.
(14)	Details of arrangements for complying with the notification rules and other requirements to supply information to the FCA 5. 5
(15)	Details of the arrangements to be made for monitoring and enforcing compliance with its rules and with its clearing, settlement and default arrangements.
(16)	A summary of the legal due diligence carried out in relation to ascertaining the enforceability of its rules (including default rules) and the results and conclusions reached. 5
(17)	Details of the procedures to be followed for declaring a member in default, and for taking action after that event to close out positions, protect the interests of other members and enforce its default rules.
(18)	Details of membership selection criteria, rules and procedures, including (for an RAP) details of how the rules of the UK RIE will change in order to reflect RAP status.3
(19)	Details of arrangements for recording transactions effected by, or cleared through, its facilities.
(20)	Details of arrangements for detecting financial crime and market abuse , including arrangements for complying with money laundering law.
(21)	Details of criteria, rules and arrangements for selecting specified investments to be admitted to trading on (or cleared by) an RIE and, where relevant, details of how information regarding specified investments will be disseminated to users of its facilities. 5
(22)	Details of arrangements for cooperating with the FCA 5 and other appropriate authorities, including draft memoranda of understanding or letters. 5
(23)	Details of the procedures and arrangements for making and amending rules, including arrangements for consulting on rule changes.
(24)	Details of disciplinary and appeal procedures, and of the arrangements for investigating complaints.

COLL 11.6.13R01/07/2013

Where the authorised fund manager of a feeder UCITS gives notice to the FCA under section 251 or section 261Q1 of the Act or regulation 21 of the OEIC Regulations that it intends to wind up the scheme, it must inform:(1) the unitholders of the feeder UCITS; and(2) where notice is given under COLL 11.6.5R (4) (Application for approval by a feeder UCITS where a master UCITS merges or divides), the authorised fund manager of the master UCITS;of its intention without undue delay.[Note:

CONC 12.1.4R04/08/2014

Table: Disapplied or modified modules or provisions of the Handbook

Module	Disapplication or modification
Senior Management Arrangements, Systems and Control sourcebook (SYSC) [FCA]	SYSC 6.1.4C R (requirement of debt management firm or credit repair firm to appoint a compliance officer) does not apply to a firm with an interim permission. SYSC 6.3.8 R (responsibility for anti-money laundering systems and controls) does not apply to a firm with only an interim permission. SYSC 6.3.9 R (requirement to appoint a money laundering reporting officer) does not apply to a firm with only an interim permission.
Fees manual (FEES) [FCA]	The Fees manual does not apply in respect of the fee provided for in FEES 8.1.1R (1), except for the rules and guidance in FEES 2.3 and FEES 8.1.
3Threshold Conditions (COND)	Guidance applies with necessary modifications to reflect Chapter 4 of Part 8 of the Financial Services and Markets Act 2000 (Regulated Activities) (Amendment) (No 2) Order 2013 (see Note 1).
3Threshold Conditions (COND)	Note 1	A firm is treated as having an interim permission on and after 1 April 2014 to carry on credit-related regulated activity 4 or operating an electronic system in relation to lending 5 under the Financial Services and Markets Act 2000 (Regulated Activities) (Amendment) (No.2) Order 2013 if it met the conditions set out in Chapter 4 of Part 8 of that Order. Section 55B(3) of the Act (satisfaction of threshold conditions) does not require the FCA or PRA to ensure that the firm will satisfy, and continue to satisfy, in relation to the credit-related regulated activities 4 or operating an electronic system in relation to lending 5 for which it has an interim permission, the threshold conditions for which that regulator is responsible. The FCA or PRA can, however, exercise its power under section 55J of the Act (variation or cancellation on initiative of regulator) or under section 55L of the Act (in the case of the FCA) or section 55M of the Act (in the case of the PRA) (imposition of requirements by the regulator) in relation to a firm if, among other things, it appears to the FCA or PRA that the firm is failing, or is likely to fail, to satisfy the threshold conditions in relation to the credit-related regulated activities 4 or operating an electronic system in relation to lending 5 for which it has an interim permission for which the regulator is responsible. The guidance 4 in COND should be read accordingly. 4 4 4 4
3Client Assets (CASS)	CASS does not apply : (1) to a firm with only an interim permission; or (2) with respect to credit-related regulated activity or operating an electronic system in relation to lending 5 for which a firm has an interim permission that is treated as a variation of permission; if the firm acts in accordance with the provisions of paragraphs 3.42 and 3.43 of the Debt management (and credit repair services) guidance (OFT366rev) previously issued by the Office of Fair Trading, as they were in effect immediately before 1 April 2014.
3Supervision manual (SUP)	SUP 3 (Auditors), SUP 10A (FCA Approved persons) and SUP 12 (Appointed representatives) (see Note 2) do not apply: (1) to a firm with only an interim permission; or (2) with respect to a credit-related regulated activity or operating an electronic system in relation to lending 5 for which a firm has an interim permission that is treated as a variation of permission.
	Note 2	A firm may not be a principal in relation to a regulated activity for which it has interim permission. A firm with interim permission may, however, be an appointed representative in relation to a regulated activity which it does not have interim permission to carry on (article 59 of the Financial Services and Markets Act 2000 (Regulated Activities) (Amendment) (No 2) Order 2013).
	SUP 6 (Applications to vary and cancel Part 4A permission and to impose, vary or cancel requirements) applies: (1) with necessary modifications to reflect Chapter 4 of Part 8 of the Financial Services and Markets Act 2000 (Regulated Activities) (Amendment) (No 2) Order 2013 (see Note 3); (2) with the modifications to SUP 6.3.15D and SUP 6.4.5D set out in paragraph 1.2 of this Schedule.
	Note 3	If a firm with interim permission applies to the appropriate regulator under section 55A of the Act for Part 4A permission to carry on a regulated activity or under section 55H or 55I of the Act to vary a Part 4A permission that the firm has otherwise than by virtue of the Financial Services and Markets Act 2000 (Regulated Activities) (Amendment) (No 2) Order 2013 by adding a regulated activity to those to which the permission relates, the application may be treated by the appropriate regulator as relating also to some or all of the regulated activities for which the firm has interim permission.
	SUP 11 (Controllers and close links) does not apply to a firm with only an interim permission (see Note 4).
	Note 4	A firm is not to be regarded as an authorised person for the purposes of Part 12 of the Act (control over authorised person) if it has only an interim permission (see article 59 of the Financial Services and Markets Act 2000 (Regulated Activities) (Amendment) (No 2) Order 2013).
	For a firm with only an interim permission (1) SUP 15.5.1 R, SUP 15.5.2 G, SUP 15.5.4 R, SUP 15.5.5 R are modified so that the words "reasonable advance", "and the date on which the firm intends to implement the change of name" and "and the date of the change" are omitted; and (2) SUP 15.7.1 R, SUP 15.7.4 R and SUP 15.7.5A R are modified so that a notification of a change in name, address or telephone number must be made using the online Consumer Credit Interim Permissions system available on the FCA's website. (3) If in a notification to the FCA the firm is required to enter its FRN number it must include it interim permission number.
	SUP 16 (Reporting requirements) does not apply to a firm with only an interim permission .
	SUP 16.11 and SUP 16.12 apply to a firm, which was an authorised person immediately before 1 April 2014, with an interim permission that is treated as a variation of permission with respect to credit-related regulated activity or operating an electronic system in relation to lending 5 as if the changes to SUP 16.11 and SUP 16.12 effected by the Consumer Credit (Consequential and Supplementary Amendments) Instrument 2014 had not been made.
3Disputes Resolution: Complaints sourcebook (DISP)	DISP 1.10 (Complaints reporting rules) and DISP 1.10A (Complaints data publication rules) do not apply to a person with only an interim permission.
3Disputes Resolution: Complaints sourcebook (DISP)	DISP 1.10 (Complaints reporting rules) and DISP 1.10A (Complaints data publication rules) apply to a firm, which was an authorised person immediately before 1 April 2014, with an interim permission that is treated as a variation of permission with respect to credit-related regulated activity or operating an electronic system in relation to lending 5 as if the changes to DISP 1.10 and DISP 1.10A effected by the Consumer Credit (Consequential and Supplementary Amendments) Instrument 2014 had not been made.
3Consumer Credit sourcebook (CONC)	CONC 10 (Prudential requirements for debt management firms) does not apply: (1) to a firm with only an interim permission; or (2) with respect to credit-related regulated activity or operating an electronic system in relation to lending 5 for which a firm has an interim permission that is treated as a variation of permission.
3Perimeter Guidance manual (PERG)	For a firm only with an interim permission, PERG 5.11.13 G is modified so that following the words "which does not otherwise consist of carrying on regulated activities" is added "(other than a regulated activity carried on by a firm only with an interim permission listed in article 59A of the Financial Services and Markets Act 2000 (Regulated Activities)(Amendment)(No.2) Order 2013 (SI 2013/1881) which is to be disregarded for this purpose)". Article 59A enables a firm with only an interim permission which would be able to benefit from article 72B of the Regulated Activities Order, but for carrying on the new consumer credit regulated activities to continue to do so.

CASS 5.4.4R01/01/2007

A firm may not handle client money in accordance with the rules in this section unless each of the following conditions is satisfied:(1) the firm must have and maintain systems and controls which are adequate to ensure that the firm is able to monitor and manage its client money transactions and any credit risk arising from the operation of the trust arrangement and, if in accordance with CASS 5.4.2 R a firm complies with both the rules in CASS 5.3 and CASS 5.4, such systems and

SUP 15.3.8G01/04/2013

Compliance with Principle 11 includes, but is not limited to, giving the appropriate regulator35 notice of:35(1) any proposed restructuring, reorganisation or business expansion which could have a significant impact on the firm's risk profile or resources, including, but not limited to:(a) setting up a new undertaking within a firm'sgroup, or a new branch (whether in the United Kingdom or overseas); or (b) commencing the provision of cross border services into a new territory;

COLL 6.8.2R06/03/2010

(1) An authorised fund must have:(a) an annual accounting period;33(b) a half-yearly accounting period; and(c) an accounting reference date.(2) A half-yearly accounting period begins when3 an annual accounting period begins3 and ends on:13(a) the day which is six months before the last day of that annual accounting period; or(b) some other reasonable date as set out in the prospectus of the scheme.1(3) The first annual accounting period of a scheme must begin:(a) on the first

DEPP 2.5.18G01/04/2013

Some of the distinguishing features of notices given under enactments other than the Act are as follows: (1) [deleted]66(2) [deleted]66(3) Friendly Societies Act 1992, section 58A1: The warning notice and decision notice must set out the terms of the direction which the FCA6 proposes or has decided to give and any specification of when the friendly society is to comply with it. A decision notice given under section 58A(3) must give an indication of the society's right, given by

CREDS 10.1.3G01/04/2013

Module	Relevance to Credit Unions
The Principles for Businesses (PRIN)	The Principles for Businesses (PRIN) set out, high-level requirements, some of which are imposed by the FCA and some by the PRA.12 They provide a general statement of regulatory requirements. The Principles apply to all12 credit unions. In applying the Principles to credit unions, the appropriate regulator 12 will be mindful of proportionality. In practice, the implications are likely to vary according to the size of the credit union. 12 12 12
Senior Management Arrangements, Systems and Controls (SYSC)	SYSC 1 and SYSC 4 to 10 apply to all credit unions in respect of the carrying on of their regulated activities and unregulated activities in a prudential context. SYSC 18 applies to all credit unions without restriction.
Threshold Conditions (COND)	In order to become authorised under the Act all firms must meet the threshold conditions. The threshold conditions must be met on a continuing basis by credit unions. Failure to meet one of the conditions is sufficient grounds for the exercise by the appropriate regulator 12 of its powers. 12 12
Statements of Principle and Code of Practice for Approved Persons (APER)	The purpose of the Statements of Principle contained in APER 2 is to provide guidance to approved persons in relation to the conduct expected of them in the performance of a controlled function. The Code of Practice for Approved Persons sets out descriptions of conduct which, in the opinion of the appropriate regulator 12, do not comply with a Statement of Principle and, in the case of Statement of Principle 3, conduct which tends to show compliance within that statement. 12
The Fit and Proper test for Approved Persons (FIT)	The purpose of FIT is to set out and describe the criteria that the appropriate regulator 12 will consider when assessing the fitness and propriety of a person in respect of whom an application is being made for approval to undertake a controlled function under the approved persons regime. The criteria are also relevant in assessing the continuing fitness and propriety of persons who have already been approved. 12
General Provisions (GEN)	GEN contains rules and guidance on general matters, including interpreting the Handbook, statutory status disclosure, the appropriate regulator's 12 logo and insurance against financial penalties.
Fees manual (FEES)	This manual sets out the fees applying to credit unions.
Conduct of Business sourcebook (COBS)	A credit union which acts as a CTF provider or provides a cash-deposit ISA will need to be aware of the relevant requirements in COBS. COBS 4.6 (Past, simulated past and future performance), COBS 4.7.1 R (Direct offer financial promotions), COBS 4.10 (Systems and controls and approving and communicating financial promotions), COBS 13 (Preparing product information) and COBS 14 (Providing product information to clients) apply with respect to accepting deposits as set out in those provisions, COBS 4.1 and BCOBS.
Banking: Conduct of Business sourcebook (BCOBS)	BCOBS sets out rules and guidance for credit unions on how they should conduct their business with their customers. In particular there are rules and guidance relating to communications with banking customers and financial promotions (BCOBS 2), distance communications (BCOBS 3), information to be communicated to banking customers (BCOBS 4), post sale requirements (BCOBS 5), and cancellation (BCOBS 6). BCOBS 5.1.13 R (Value dating) does not apply to credit unions. The rules in BCOBS 3.1 that relate to distance contracts for accepting deposits are likely to have limited application to a credit union. This is because the Distance Marketing Directive only applies where there is "an organised distance sales or service-provision scheme run by the supplier" (Article 2(a)). If, therefore, the credit union normally operates face to face and has not set up facilities to enable customers to deal with it at a distance, such as facilities for a customer to deal with it purely by post, telephone, fax or the Internet, the provisions will not be relevant.
Supervision manual (SUP)	The following provisions of SUP are relevant to credit unions: 13SUP 1A13 (The appropriate regulator's 12 approach to supervision), SUP 2 (Information gathering by the appropriate regulator 12 on its own initiative), SUP 3.1 to SUP 3.8 (Auditors), SUP 5 (Skilled persons), SUP 6 (Applications to vary or cancel Part 4A12permission), SUP 7 (Individual requirements), SUP 8 (Waiver and modification of rules), SUP 9 (Individual guidance), 13SUP 10A and SUP 10B13 (Approved persons), SUP 11 (Controllers and Close links), SUP 15 (Notifications to the appropriate regulator 12) and SUP 16 (Reporting Requirements). Credit unions are reminded that they are subject to the requirements of the Act and SUP 11 on controllers and close links, and are bound to notify the appropriate regulator 12 of changes. It may be unlikely, in practice, that credit unions will develop such relationships. It is possible, however, that a person may acquire control of a credit union within the meaning of the Act by reason of holding the prescribed proportion of deferred shares in the credit union. In relation to SUP 16, credit unions are exempted from the requirement to submit annual reports of controllers and close links. 12 12 12 12 12
Decision, Procedure and Penalties manual (DEPP)	DEPP is relevant to credit unions because it sets out: (1) the FCA's 12 decision-making procedure for giving statutory notices. These are warning notices, decision notices and supervisory notices (DEPP 1.2 to DEPP 5); and (2) the FCA's 12 policy with respect to the imposition and amount of penalties under the Act (see DEPP 6). 12 12
Dispute Resolution: Complaints (DISP)	DISP sets out rules and guidance in relation to treating complainants fairly and the Financial Ombudsman Service.
Compensation (COMP)	COMP sets out rules relating to the scheme for compensating consumers when authorised firms are unable, or likely to be unable, to satisfy claims against them.12
The Enforcement Guide (EG)	The Enforcement Guide (EG) describes the FCA's 12 approach to exercising the main enforcement powers given to it by the Act and by regulation 12 of the Unfair Terms Regulations. 12
Financial crime: a guide for firms (FC)	FC provides guidance on steps that a firm can take to reduce the risk that it might be used to further financial crime.

Related provisions for SUP 3.10.9B

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Information and supporting documentation (see REC 5.2.4 G).