Related provisions for CONC 15.1.6

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To access the FCA Handbook Archive choose a date between 1 January 2001 and 31 December 2004 (From field only).

DEPP 6.5D.1GRP
(1) 1The FCA's3 approach to determining penalties described in DEPP 6.5 to DEPP 6.5C is intended to ensure that financial penalties are proportionate to the breach. The FCA3 recognises that penalties may affect persons differently, and that the FCA3 should consider whether a reduction in the proposed penalty is appropriate if the penalty would cause the subject of enforcement action serious financial hardship.333(2) Where an individual or firm claims that payment of the penalty
PR 2.1.4EURP

Article 24 of the PD Regulation provides for how the contents of the summary are to be determined:

3Content of the summary of the prospectus, of the base prospectus and of the individual issue

1

The issuer, the offeror or the person asking for the admission to trading on a regulated market shall determine the detailed content of the summary referred to in Article 5(2) of Directive 2003/71/EC in accordance with this Article.

A summary shall contain the key information items set out in Annex XXII. Where an item is not applicable to a prospectus, such item shall appear in the summary with the mention "not applicable". The length of the summary shall take into account the complexity of the issuer and of the securities offered, but shall not exceed 7% of the length of a prospectus or 15 pages, whichever is the longer. It shall not contain cross-references to other parts of the prospectus.

The order of the sections and of the elements of Annex XXII shall be mandatory. The summary shall be drafted in clear language, presenting the key information in an easily accessible and understandable way. Where an issuer is not under an obligation to include a summary in a prospectus pursuant to Article 5(2) of Directive 2003/71/EC, but produces an overview section in the prospectus, this section shall not be entitled "Summary" unless the issuer complies with all disclosure requirements for summaries laid down in this Article and Annex XXII.

2

The summary of the base prospectus may contain the following information:

(a)

information included in the base prospectus;

(b)

options for information required by the securities note schedule and its building block(s);

(c)

information required by the securities note schedule and its building block(s) left in blank for later insertion in the final terms.

3

The summary of the individual issue shall provide the key information of the summary of the base prospectus combined with the relevant parts of the final terms. The summary of the individual issue shall contain the following:

(a)

the information of the summary of the base prospectus which is only relevant to the individual issue;

(b)

the options contained in the base prospectus which are only relevant to the individual issue as determined in the final terms;

(c)

the relevant information given in the final terms which has been previously left in blank in the base prospectus.

Where the final terms relate to several securities which differ only in some very limited details, such as the issue price or maturity date, one single summary of the individual issue may be attached for all those securities, provided the information referring to the different securities is clearly segregated.

The summary of the individual issue shall be subject to the same requirements as the final terms and shall be annexed to them.
54
COBS 2.1.4RRP
3A full-scope UK AIFM and an incoming EEA AIFM branch must, for all AIFs it manages: (1) act honestly, fairly and with due skill care and diligence in conducting their activities;(2) act in the best interests of the AIF it manages or the investors of the AIF it manages and the integrity of the market;(3) treat all investors fairly; and(4) not allow any investor in an AIF to obtain preferential treatment, unless such preferential treatment is disclosed in the relevant AIF'sinstrument
IFPRU 4.4.2GRP
The information that a firm produces or uses for the IRB approach should be reliable and take proper account of the different users of the information produced (customers, shareholders, regulators and other market participants).
MAR 4.3.1RRP
A firm must not act, or continue to act, for any person in connection with a transaction to which the Takeover Code applies1 (including a transaction subject to rule 8 (Disclosure of dealings during the offer period; also indemnity and other arrangements) of the Takeover Code1) if the firm has reasonable grounds for believing that the person in question, or his principal, is not complying or is not likely to comply with the Takeover Code.111
IFPRU 4.12.27GRP
(1) If a firm is found to have provided support to a securitisation, the expectation that the firm will provide future support to its securitisations is increased. The FCA will take account of this increased expectation in future assessments of commensurate risk transfer to that firm.(2) The FCA expects securitisation documentation to make clear, where applicable, that repurchase of securitisation positions by the originator beyond its contractual obligations is not mandatory
PRIN 3.2.3RRP
Principles 3, 4 and (in so far as it relates to disclosing to the appropriate regulator) 11 (and this chapter) also:(1) apply with respect to the carrying on of unregulated activities (for Principle 3 this is only in a prudential context); and(2) take into account any activity of other members of a group of which the firm is a member.
REC 3.14.2RRP
Where a UK RIE proposes to admit to trading (or to cease to admit to trading) by means of its facilities:(1) a specified investment (other than a security or an option in relation to a security); or(2) a type of security or a type of option in relation to a security; it must give the FCA3notice of that event, and the information specified for the purposes of this rule in REC 3.14.6 R to the FCA3, at the same time as that proposal is first formally communicated to its members or
SUP 13.4.7GRP
10A UK firm seeking to provide collective portfolio management services in another EEA State under the freedom to provide cross border services, is advised that it will need to refer to the rules of the competent authority of the UCITS Home State implementing article 20 of the UCITS Directive which will require it to submit to that competent authority information relating to its depositary agreement and certain delegation arrangements.
DISP App 3.6.2ERP
In the absence of evidence to the contrary, the firm should presume that the complainant would not have bought the payment protection contract he bought if the sale was substantially flawed, for example where the firm:(1) pressured the complainant into purchasing the payment protection contract; or(2) did not disclose to the complainant, in good time before the sale was concluded, and in a way that was fair, clear and not misleading, that the policy was optional; or(3) made the
COND 2.3.3GRP
In assessing the threshold conditions set out in paragraphs 2C and 3B of Schedule 6 to the Act6, factors which the FCA6 will take into consideration include, among other things, whether: 6(1) it is likely that the FCA6 will receive adequate information from the firm, and those persons with whom the firm has close links, to enable it to determine whether the firm is complying with the requirements and standards under the regulatory system for which the FCA is responsible6 and to
MCOB 5.1.3RRP
(1) This chapter applies if a firm:(a) advises a particular5customer to enter into, or arranges an execution-only sale in,5 a home finance transaction2; or52(b) provides information to a customer that is specific to the amount to be provided on a particular home finance transaction2, including information provided in response to a request from a customer; or2(c) provides the means for a customer to make an application to it;in connection with entering into, or agreeing to enter
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]
APER 2.1A.3PRP

Statements of Principle issued under section 64 of the Act

Statement of Principle 1

An approved person must act with integrity in carrying out his accountable functions.

Statement of Principle 2

An approved person must act with due skill, care and diligence in carrying out his accountable functions.

Statement of Principle 3

An approved person must observe proper standards of market conduct in carrying out his accountable functions.

Statement of Principle 4

An approved person must deal with the FCA, the PRA and other regulators in an open and cooperative way and must disclose appropriately any information of which the FCA or the PRA would reasonably expect notice.

Statement of Principle 5

An approved person performing an accountable significant-influence function must take reasonable steps to ensure that the business of the

firm

for which he is responsible in his accountable function is organised so that it can be controlled effectively.

Statement of Principle 6

An approved person performing an accountable significant-influence function must exercise due skill, care and diligence in managing the business of the

firm

for which he is responsible in his accountable function.

Statement of Principle 7

An approved person performing an accountable significant-influence function must take reasonable steps to ensure that the business of the

firm

for which he is responsible in his accountable function complies with the relevant requirements and standards of the regulatory system.
COLL 11.4.5GRP
Section 351A (Disclosure under the UCITS directive) of the Act provides that where a trustee of an AUT or the depositary of an 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
DTR 4.1.7RRP
(1) If an issuer is required to prepare consolidated accounts, the financial statements must be audited in accordance with Article 37 of the Seventh Council Directive 83/349/EEC.(2) If an issuer is not required to prepare consolidated accounts the financial statements must be audited in accordance with Articles 51 and 51a of the Fourth Council Directive 78/660/EEC.(3) The audit report, signed by the person or persons responsible for auditing the financial statements must be disclosed
ICOBS 7.2.10GRP
A consumer's notice to cancel a distance contract may also operate to cancel any attached contract which is also a distance financial services contract. This is unless the consumer gives notice that cancellation of the contract is not to operate to cancel the attached contract. (See the Distance Marketing Regulations.) Where relevant, this should be disclosed to the consumer along with other information on cancellation.