Related provisions for CONC 15.1.15

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CONC 6.7.3GRP
The action referred to in CONC 6.7.2 R should generally include:(1) notifying the customer of the risk of escalating debt, additional interest or charges and of potential financial difficulties; and [Note: paragraph 6.16 of ILG](2) providing contact details for not-for-profit debt advice bodies.[Note: paragraph 6.2 (box) of ILG]
CONC 6.7.9RRP
A firm under a regulated credit agreement for a credit card or store card must notify the customer of a proposed increase in the credit limit under the agreement at least 30 days before the increase comes into effect, except where: 1[Note: paragraph 6.17 of ILG](1) the increase is at the express request of the customer: or11(2) the increase is proposed by the firm, but the customer agrees to it at that time and wishes it to come into effect in less than 30 days.11
CONC 6.7.11GRP
For the purposes of CONC 6.7.7 R and CONC 6.7.10 R a customer is at risk of financial difficulties if the customer:(1) is two or more payments in arrears; or(2) has agreed a repayment plan with the firm in question; or(3) is in serious discussion with a firm which carries on debt counselling with a view to entering into a debt management plan and the firm has been notified of this fact.[Note: paragraph 6.10 (box) of ILG]
CONC 6.7.16RRP
Where a firm increases a rate of interest based on a change in the risk presented by the customer, the firm must: (1) notify the customer that the rate of interest has been increased based on a change in risk presented by the customer; and (2) if requested by the customer provide a suitable explanation which may be a generic explanation for such increases.[Note: paragraph 6.20 (box) of ILG]
CONC 6.7.20RRP
Before a firm agrees to refinance high-cost short-term credit, it must: (1) give or send an information sheet to the customer; and(2) where reasonably practicable to do so, bring the sheet to the attention of the customer before the refinance;in the form of the arrears information sheet issued by the FCA referred to in section 86A of the CCA with the following modifications:(3) for the title and first sentence of the information sheet substitute:“High-cost short-term loansFailing
CONC 15.1.5RRP
In good time before a credit agreement is made and, where section 58 applies, before an unexecuted agreement is sent to the customer for signature a firm must:(1) disclose key contract terms and conditions of the prospective credit agreement;[Note: paragraph 2.1 of SCLG](2) disclose any features of the prospective credit agreement which carry a particular risk to the customer;[Note: paragraph 3.4 of SCLG](3) inform the customer of the consequences of missing payments or of making
CONC 15.1.6GRP
Where appropriate, the disclosure required by CONC 15.1.5 R2 should be explained orally to the customer.[Note: paragraph 3.4 of SCLG]2
CONC 15.1.7RRP
Where a firm has reasonable grounds to suspect that the customer does not understand material aspects of the obligations they will take on and the resulting risks, under a regulated credit agreement, the firm:(1) must not enter into a regulated credit agreement; and (2) must provide further explanation of any such obligations or risks. [Note: paragraph 3.5 of SCLG]
CONC App 1.4.6RRP
The declaration for the purposes of articles 60H(c) and 60Q(b) of the Regulated Activities Order must have the following form and content- “Declaration by high net worth borrower or hirer(articles 60H and 60Q of the Financial Services and Markets Act 2000 (Regulated Activities) Order 2001)I confirm that I have received a copy of the statement of high net worth made in relation to me for the purposes of article 60H(d) or article 60Q(c) of the Financial Services and Markets Act
CONC App 1.4.7RRP
A statement of high net worth for the purposes of articles 60H(d) and 60Q(c) of the Regulated Activities Order must have the following form and content:“Statement of High Net Worth(articles 60H(1) and 60Q of the Financial Services and Markets Act 2000 (Regulated Activities) Order 2001)(articles 60H and 60Q of the Financial Services and Markets Act 2000 (Regulated Activities) Order 2001)I/We* (insert full name) .............................................................. of (insert
CONC App 1.4.8RRP
A declaration for the purposes of articles 60C or 60O of the Regulated Activities Order must have the following form and content“Declaration for exemption relating to businesses(articles 60C and 60O of the Financial Services and Markets Act 2000 (Regulated Activities) Order 2001)I am/We are* entering this agreement wholly or predominantly for the purposes of a business carried on by me/us or intended to be carried on by me/us.I/We* understand that I/We* will not have the benefit
MCOB 1.2.1RRP
1(1) This sourcebook3 applies to every firm that:113(a) carries on a home finance activity3 (subject to 31the business loan and loans to high net worth mortgage customers7 application provisions3); or3(b) communicates or approves a financial promotion of qualifying credit, of a home purchase plan,6of a home reversion plan3or of a regulated sale and rent back agreement.636(2) Where a firm has outsourced activities to a third party processor, any rule in MCOB which requires the
MCOB 1.2.7RRP
In relation to a regulated mortgage contract for a business purpose or with a high net worth mortgage customer7, if a firm has opted for the tailored route, it must adopt the following modifications to the sourcebook:333(1) (except in relation to sections 5 and 8 of any combined initial disclosure document) substitute an alternative description of the facility provided under the regulated mortgage contract for 'mortgage' where that term is used in any disclosure;733337(2) substitute
MCOB 1.2.9GRP
The disclosure rules in MCOB place particular emphasis on the description of borrowing. Where the regulated mortgage contract is for a business purpose or with a high net worth mortgage customer7, a firm should reflect this emphasis in any disclosure by first describing any borrowing before addressing the other facilities provided under the regulated mortgage contract.
PERG 8.12.26GRP
Provided the conditions in PERG 8.12.25 G are met, the exemption in article 20 applies to any non-real time financial promotion. However, there is an additional condition where the subject matter of the financial promotion is shares or options, futures or contracts for differences relating to shares and the financial promotion identifies directly a person who issues or provides such an investment. In such cases, the exemption is subject to a disclosure requirement which is itself
PERG 8.12.27GRP
The exceptions to the disclosure requirement are where the financial promotion is in either:(1) a publication, service or broadcast which has proper systems and procedures which prevent the publication of communications without disclosure of financial interests; or(2) a publication, service or broadcast which falls within the remit of:(a) the Code of Practice issued by the Press Complaints Commission; or(b) the OFCOM Broadcasting1 Code; or11(c) the Producers’ Guidelines issued
PERG 8.12.28GRP
The effect of PERG 8.12.27G (2) is that financial promotions made by journalists in publications, services or broadcasts to which one of the codes or the guidelines apply are not subject to the disclosure requirement. This is so even if a financial promotion is made in breach of the codes or guidelines. Such financial promotions would remain to be dealt with by the body responsible for the code or guidelines and the publisher concerned. The code or guidelines may, of course, themselves
PERG 8.12.29GRP
The effect of PERG 8.12.27G (1) is that a journalist will not breach section 21 by not disclosing a financial interest, providing that the publication, service or broadcast concerned operates proper systems and procedures. As with the exemption in article 12 of the Financial Promotion Order (see PERG 8.12.6 G), what proper systems and procedures are will be a matter ultimately for the courts to determine and may vary according to the medium used. It will depend upon all the circumstances
PERG 8.12.30GRP
Persons such as experts or analysts may be approached to contribute at very short notice and may be overseas. In such cases, the systems and procedures referred to in PERG 8.12.29 G may not be practical. It is the FCA's opinion that, where occasional contributors are concerned, proper systems and procedures may include arrangements for ensuring that the need for disclosure (or the avoidance of financial interests) is drawn to the contributor’s attention before the communication
DTR 1A.3.2ARRP
1The duty imposed by DTR 1A.3.2 R does not apply to an issuer's obligation under DTR 5.8.12 R to make public the information contained in a vote holder notification made to it under DTR 5.1.2 R.
DTR 1A.3.3RRP
If an issuer is required to notify information to a RIS at a time when a RIS is not open for business, it must distribute the information as soon as possible to:(1) not less than two national newspapers in the United Kingdom;(2) two newswire services operating in the United Kingdom; and(3) a RIS for release as soon as it opens.
DISP App 3.9.2GRP
In assessing redress, the firm should consider whether there are any other further losses that flow from its breach or failing that were reasonably foreseeable as a consequence of the firm's breach or failing, for example, where the payment protection contract's cost or rejected claims contributed to affordability issues for the associated loan or credit which led to arrears charges, default interest, penal interest rates or other penalties levied by the lender.
DISP App 3.9.3GRP
Where, for single premium policies, there were previous breaches or failings (see DISP App 3.2.7 G) the redress to the complainant should address the cumulative financial impact.
COBS 17.1.1RRP
1When an insurer or managing agent receives a claim under a long-term care insurance contract, it must respond promptly by providing the policyholder, or the person acting on the policyholder's behalf, with:(1) a claim form (if it requires one to be completed);(2) a summary of its claims handling procedure; and(3) appropriate information about the medical criteria that must be met, and any waiting periods that apply, under the terms of the policy.
COBS 17.1.2RRP
As soon as reasonably practicable after receipt of a claim, the insurer or managing agent must tell the policyholder, or the person acting on the policyholder's behalf:(1) (for each part of the claim it accepts), whether the claim will be settled by paying the policyholder, providing goods or services to the policyholder or paying another person to provide those goods or services; and(2) (for each part of the claim it rejects), why the claim has been rejected and whether any future
CONC 4.4.2RRP
(1) A firm must disclose to the customer the fee, if any, payable by a customer to the firm for its services. [Note: section 160A(4) of CCA] (2) Any fee to be paid by the customer to the firm must be agreed between the customer and the firm, and that agreement must be recorded in writing or other durable medium before a regulated credit agreement is entered into.[Note: section 160A(4) of CCA] (3) A firm must disclose to the lender the fee, if any, for its activity payable by the
DISP 3.8.2BRRP
24This does not prevent the Ombudsman disclosing information:(1) to the extent that he is required or authorised to do so by law; or(2) to the parties to the complaint; or(3) in his determination; or(4) at a hearing in connection with the complaint.
DISP 3.8.3RRP
So long as he has regard to the parties' rights of privacy, the Ombudsman may disclose information to the FCA5 or any other body exercising regulatory or statutory functions for the purpose of assisting that body or the Financial Ombudsman Service to discharge its functions.245
LR 7.1.1RRP
345(1) The Listing Principles in LR 7.2.1 R apply to every listed company in respect of all its obligations arising from the listing rules, disclosure rules, transparency rules and corporate governance rules.5(2) In addition to the Listing Principles referred to in (1), the Premium Listing Principles in LR 7.2.1A R apply to every listed company with a premium listing of equity shares in respect of all its obligations arising from the listing rules, disclosure rules, transparency
LR 7.1.3GRP
The Listing Principles and, if applicable, the Premium Listing Principles5 are designed to assist listed companies in identifying their obligations and responsibilities under the listing rules, disclosure rules, transparency rules and corporate governance rules.5 The Listing Principles and Premium Listing Principles5 should be interpreted together with relevant rules and guidance which underpin the Listing Principles and the Premium Listing Principles.55
LR 4.4.1GRP
Section 81 of the Act (supplementary listing particulars) requires an issuer to submit supplementary listing particulars to the FCA for approval if at any time after listing particulars have been submitted to the FCA and before the commencement of dealings in the securities following their admission to the official list:(1) there is a significant change affecting any matter contained in those particulars the inclusion of which was required by:(a) section 80 of the Act (general
LR 4.4.3RRP
1If final terms of the offer are not included in the listing particulars:(1) the final terms must be provided to investors and filed with the FCA, and made available to the public, as if the relevant requirements in PR 3.2 and the PD Regulation applied to them; and(2) the listing particulars must disclose the criteria and/or the conditions in accordance with which the above elements will be determined or, in the case of price, the maximum price.
ICOBS 4.4.1RRP
(1) An insurance intermediary must, on a commercial customer's request, promptly disclose the commission that it and any associate receives in connection with a policy.(2) Disclosure must be in cash terms (estimated, if necessary) and in writing or another durable medium. To the extent this is not possible, the firm must give the basis for calculation.
ICOBS 4.4.3GRP
(1) The commission disclosure rule is additional to the general law on the fiduciary obligations of an agent in that it applies whether or not the insurance intermediary is an agent of the commercial customer.(2) In relation to contracts of insurance, the essence of these fiduciary obligations is generally a duty to account to the agent’s principal. But where a customer employs an insurance intermediary by way of business and does not remunerate him, and where it is usual for
RCB 3.6.5DRP
Unless otherwise stated, the issuer or the owner, as the case may be, must send the relevant forms and information to the FCA's address marked for the attention of the "Covered Bonds Team, Capital Markets Sector" by any of the following methods:(1) post; or(2) leaving it at the FCA's address and obtaining a time-stamped receipt; or(3) email to rcb@fca.org.uk.
MCOB 4.5.1GRP
(1) There are certain additional disclosure requirements laid down by the Distance Marketing Directive that will have to be provided by a mortgage intermediary,6 a home purchase intermediary and a SRB intermediary64 to a consumer5 prior to the conclusion of a distance mortgage mediation contract,66 a distance home purchase mediation contract4 or a distance regulated sale and rent back mediation contract.6 The purpose of this section, MCOB 4.5, is to set out those additional requirements.
MCOB 4.5.2RRP
If the initial contact7 is with a consumer5 with a view to concluding a distance mortgage mediation contract,6 a distance home purchase mediation contract or a distance regulated sale and rent back mediation contract6,4 a firm must:7546(1) in addition to initial disclosure information and any other required information, provide the consumer5 with the information in MCOB 4 Annex 3 in a durable medium in good time before the conclusion of the distance mortgage mediation contract,6distance
MCOB 4.5.3GRP
(1) The information in MCOB 4 Annex 3 will be provided in 'good time' for the purposes of MCOB 4.5.2 R (1), if provided in sufficient time to enable the customer to consider properly the services on offer.(2) An example of the circumstances in which MCOB 4.5.2 R (4) or (5) may apply is given in MCOB 4.4.4 G. If the initial disclosure document and accompanying information (including that in MCOB 4 Annex 3) was previously provided to a customer and continues to be appropriate, there
LR 9.6.15GRP
If no information is required to be disclosed pursuant to LR 9.6.13 R, the notification required by LR 9.6.13 R should state this fact.
LR 9.6.16RRP
A listed company must notify a RIS as soon as possible of information relating to the disposal of equity shares under an exemption allowed in the lock-up arrangements disclosed in accordance with the PD Regulation.
LR 9.6.17RRP
A listed company must notify a RIS as soon as possible of the details of any variation in the lock-up arrangements disclosed in accordance with the PD Regulation or any subsequent announcement.
MCOB 6.9.9GRP
Firms will need to consider the implications of the Data Protection Act 1998 under which personal data that a firm, as data controller, holds about its customer cannot be disclosed to a third party without his consent. In practice the firm is likely to need the SRB agreement seller's consent to disclosing the matters covered by MCOB 6.9.8 R to the relevant mortgage lender or home purchase provider.
MCOB 6.9.11RRP
The SRB agreement provider must keep a record of the written pre-offer document at Stage One and the written offer document for signing at Stage Two for a period of:(1) one year after the end of the fixed term of the tenancy under the regulated sale and rent back agreement; or(2) five years from the date of the disclosures and warnings, written offer documents and cooling-off period notices;whichever is the longer.
APER 4.2.3ERP
Failing to inform: (1) a customer; or(2) his firm (or its auditors or an actuary appointed by his firm under SUP 4 Actuaries)1);1of material information in circumstances where he was aware, or ought to have been aware, of such information, and of the fact that he should provide it, falls within APER 4.2.2 E.
APER 4.2.4ERP
Behaviour of the type referred to in APER 4.2.3 E includes, but is not limited to:(1) failing to explain the risks of an investment to a customer;(2) failing to disclose to a customer details of the charges or surrender penalties of investment products;(3) mismarking trading positions;(4) providing inaccurate or inadequate information to a firm, its auditors or an actuary appointed by his firm under SUP 4 (Actuaries)1;1(5) failing to disclose dealings where disclosure is required
APER 4.2.10ERP
Failing without good reason to disclose the existence of a conflict of interest in connection with dealings with a client falls within APER 4.2.2 E.
COBS 12.2.1RRP
This section applies to a firm which produces, or arranges for the production of, investment research that is intended or likely to be subsequently disseminated to clients of the firm or to the public, under its own responsibility or that of a member of its group. [Note: article 25(1) of the MiFID implementing Directive]
COBS 12.2.2GRP
The concept of dissemination of investment research to clients or to the public is not intended to include dissemination exclusively to persons within the group of the firm. [Note: recital 33 of the MiFID implementing Directive]
COBS 12.2.6GRP
Knowledge by a financial analyst or other relevant person that the firm intends to produce or disseminate investment research to its clients or to the public (including in circumstances where research material has not yet been written) could constitute knowledge of the likely timing and content of investment research under COBS 12.2.5 R (1).
DTR 6.3.2RRP
An issuer or person must disclose regulated information in the manner set out in DTR 6.3.3 R to DTR 6.3.8 R. [Note: article 21(1) of the TD]
DTR 6.3.8RRP
Upon request, an issuer or other person must be able to communicate to the FCA, in relation to any disclosure of regulated information:(1) the name of the person who communicated the regulated information to the RIS;(2) the security validation details;(3) the time and date on which the regulated information was communicated to the RIS;(4) the medium in which the regulated information was communicated; and(5) details of any embargo placed by the issuer on the regulated information,
DTR 6.3.10RRP
(1) Information that is disclosed in a non-EEA State which may be of importance to the public in the EEA must be disclosed in accordance with the provisions set out in DTR 6.2 and DTR 6.3. (2) Paragraph (1) applies additionally to information that is not regulated information.[Note: article 23(3) of the TD]