Related provisions for DTR 8.4.17

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

CONC 13.1.4GRP
(1) The copy of the executed agreement should be a 'true copy' of the original. However, as confirmed in the case of Carey v HSBC Bank plc [2009] EWHC 3417 (QB), in this context the term 'true copy' does not necessarily mean a carbon, photocopy, microfiche copy or other exact copy of the signed agreement. There is no obligation to provide a copy which includes a copy of the signature.(2) The firm can reconstitute a copy. It can do this by re-populating a template of the relevant
PERG 4.15.3GRP
So-called 'mortgage packaging companies' may undertake certain parts of the mortgage process for lenders on an outsourced basis, ensuring that a complete set of documentation is collated and sent to the lender. This might include receiving application forms from intermediaries, undertaking credit reference checks and instructing a valuer. Other activities might include a product placement service for other intermediaries who provide product advice or recommendations to their clients.
COBS 16.6.6RRP
A firm must make an adequate record of information provided to a customer under this section and retain that record for a minimum period after the information is provided of five years.
SUP App 3.9.6GRP

Table 2A: UCITS Directive activities

Part II RAO Activities

Part III RAO Investments

1.

The management of UCITS in the form of unit trusts / common funds or of investment companies; this includes the function mentioned in Annex II of the UCITS Directive (see Note 2).

Article 51ZA8

8

N/A (activity relates to property of any kind) (Note 3)8

88

2.

Managing portfolios of investments, including those owned by pension funds, in accordance with mandates given by investors on a discretionary, client-by-client basis, where such portfolios include one or more of the instruments listed in Section C 3of Annex I 3to MiFID3.

33

Articles 14, 21, 25, 37, 40 (arranging only),8 64

8

Articles 76-81, 83-85, 89

3.

Investment advice concerning one or more of the instruments listed in Section C3of Annex I 3to MiFID3.

3

Articles 53, 64

Articles 76-81, 83-85, 89

4.

Safekeeping and administration services in relation to units of collective investment undertakings.

Articles 40, 45, 64

Articles 76-81, 83-85, 89

Note 1. A UCITS management company can only be authorised to carry on the non-core services set out in rows (3) and (4) of Table 2A if it is also authorised to carry on the activity set out in row (2) of the table (see COLL 6.9.9 R)8.

338

Note 2. The functions set out in Annex 2 to the UCITS Directive are:

1.

Investment management.

2.

Administration:

a.

legal and fund management accounting services;

b.

customer inquiries;

c.

valuation and pricing (including tax returns);

d.

regulatory compliance monitoring;

e.

maintenance of unit-holder register;

f.

distribution of income;

g.

unit issues and redemptions;

h.

contract settlements (including certificate dispatch);

i.

record keeping.

3.

Marketing.

8Note 3. The regulated activity of managing a UCITS may be carried on for property of any kind (article 4(2) of the regulated activities order). However, the scheme property of a UCITS scheme is limited to certain types of property, in line with COLL 5 (Investment and borrowing powers).

COLL 8.1.3RRP
(1) Subject to (3), the3authorised fund manager of a qualified investor scheme must take reasonable care to ensure that ownership of units in that scheme is recorded in the register only2 for a person to whom such units may be promoted under COBS 4.12.4R2.32112(2) The authorised fund manager will be regarded as complying with (1) and (3)3 to the extent that it can show that it was reasonable for it to rely on relevant information provided by another person.(3) 3In addition to
ICOBS 5.3.2BRRP
1A firm must make a record of the suitability assessment, the recommendation given and the reasons for the recommendation and, if the customer proceeds with the recommendation, retain it for a minimum period of three years from the date on which the recommendation was made.
SYSC 4.1.4RRP
A firm (with the exception of a sole trader who does not employ any person who is required to be approved under section 59 of the Act (Approval for particular arrangements))3 must, taking into account the nature, scale and complexity of the business of the firm, and the nature and range of the financial services and activities 3undertaken in the course of that business:310(1) (if it is a common platform firm or a management company)10 establish, implement and maintain decision-making
ICOBS 5.1.3BRRP
2A firm must make a record of the eligibility assessment and, if the customer proceeds with the arrangements proposed, retain it for a minimum period of three years from the date on which the assessment was undertaken.
BIPRU 13.7.6RRP
A firm may treat contractual netting as risk-reducing only under the following conditions:(1) the firm must have a contractual netting agreement with its counterparty which creates a single legal obligation, covering all included transactions, such that, in the event of a counterparty's failure to perform owing to default, bankruptcy, liquidation or any other similar circumstance, the firm would have a claim to receive or an obligation to pay only the net sum of the positive and
INSPRU 1.5.23RRP
A firm must maintain a separate accounting record in respect of each of its long-term insurance funds (including any with-profits fund).
COBS 6.1C.21RRP
A firm must keep a record of:(1) its charging structure;(2) the consultancy charges payable by each employer and each of the employer’s employees; and(3) if the consultancy charge for a particular service has varied materially from that indicated in the firm's charging structure, the reasons for that difference.
SUP 6.4.17GRP
If a firm is transferring its business, the relevant regulator24 may require a professional opinion in respect of certain aspects of the transfer. For example, the relevant regulator24 may require a legal opinion on the validity of arrangements to transfer regulated activities, client money, client deposits, custody assets or any other property belonging to clients, to another authorised person. Alternatively, an auditor or reporting accountant may be requested to verify that
IFPRU 4.8.23GRP
Exposures include not only principal amounts borrowed under facilities but also interest accrued which will fluctuate between payment dates. To ensure proper coverage of interest, the FCA expects firms to take the following approach:(1) accrued interest to date should be included in current exposure for performing exposures;(2) firms may choose whether estimated increases in accrued interest up to the time of default should be included in LGD or EAD;(3) in the estimation of EAD,
PRIN 1.2.3GRP
1(1) In relation to the carrying on of designated investment business, a firm's categorisation of a client under the COBS client categorisation chapter (COBS 3) will be applicable for the purposes of Principles 6, 7, 8 and 9.33(1A) Client categorisation under COBS 3 or PRIN 1 Annex 1 is not relevant to credit-related regulated activities and therefore the guidance on client categorisation does not apply in relation to a credit-related regulated activity. The definitions of client
MCOB 4.11.8RRP
(1) A firm must make and retain a record of the customer information that has been provided to it, including that relating to:(a) the customer's income, expenditure and other resources that it has obtained from him for the purpose of assessing affordability, together with the stress testing of the rental payments; (b) the customer's needs, objectives and individual circumstances that it has obtained from him for the purpose of assessing appropriateness; and(c) the customer's entitlement
LR 10.7.7RRP
When calculating the size of a transaction under LR 10 Annex 1 and LR 10.7.5 R, account must be taken of any associated transactions or loans effected or intended to be effected, and any contingent liabilities or commitments.
COLL 6.5.9RRP
(1) Upon the removal or retirement of the authorised fund manager3, the removed or retiring authorised fund manager of an AUT or ACS:333(a) is entitled to be recorded in the register for those units continued to be held or treated as held by it as principal3; and(b) may require the depositary3 to issue to it a certificate for those units (if not previously issued).3(2) Paragraph (1) is subject to any restriction in the prospectus relating to the permitted categories of unitho
REC 2.11.3GRP
In determining whether a UK recognised body has made satisfactory arrangements for the safeguarding and administration of assets belonging to the users of its facilities, the FCA3 may have regard to: 3(1) the level of protection which the arrangements provide against the risk of theft or other types or causes of loss;(2) whether the arrangements ensure that assets are only used or transferred in accordance with the instructions of the owner of those assets or in accordance with
MCOB 6.4.3RRP
(1) A firm must make an adequate record of each offer document which it issues to a customer in accordance with MCOB 6.(2) The record required by (1) must be retained for a year from the date that the offer document is issued to the customer.(3) If, in accordance with MCOB 6.5 (Information to be provided in the offer document or separately), information is included in a separate document that is sent with the offer document, that information must also be retained as part of the