Related provisions for SUP 10A.12.4

21 - 40 of 51 items.

SUP 10A.17.2G01/04/2013

If the firm or its advisers have further questions, they should contact the FCA's Contact Centre (see SUP 10A.12.6 G).

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

PERG 1.1.1G01/04/2013

This manual applies to:(1) a person who is considering carrying on activities in the United Kingdom which may fall within the scope of the Act and is seeking guidance on whether he needs to be an authorised person;(2) a person who seeks to become an authorised person under the Act and who is, or is considering, applying for Part 4A permission to carry on regulated activities in the United Kingdom;(3) a person who is seeking guidance on whether any communication he may be seeking

GEN 4.5.6AG01/04/2013

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.

SUP 3.1.2R01/04/2014

Applicable sections (see SUP 3.1.1 R)

This table and the provisions in SUP 3 should be read in conjunction with GEN 2.2.23 R to GEN 2.2.25 G. In particular, the PRA does not apply any of the provisions in SUP 3 in respect of FCA-authorised persons. SUP 3.10 and SUP 3.11 are applied by the FCA only.41

(1) Category of firm		(2) Sections applicable to the firm	(3) Sections applicable to its auditor
(1)	Authorised professional firm which is required by IPRU(INV) 2.1.2R to comply with chapters 3, 519 or 13 of IPRU(INV) and which has an auditor appointed under or as a result of a statutory provision other than in the Act 9 (Notes 1 and 6)23 23 19 23 23	SUP 3.1 - SUP 3.7, SUP 3.1123	SUP 3.1, SUP 3.2, SUP 3.8,19SUP 3.10 19
(2)	Authorised professional firm not within (1) to which the custody chapter or client money chapter applies22 17 22 23	SUP 3.1 - SUP 3.7, SUP 3.11	SUP 3.1, SUP 3.2, SUP 3.8, SUP 3.10
(3)	Authorised professional firm not within (1) or (2) which has an auditor appointed under or as a result of a statutory provision other than in the Act	SUP 3.1, SUP 3.2, SUP 3.7	SUP 3.1, SUP 3.2, SUP 3.8
(4)	Bank, building society or dormant account fund operator 21which in each case carries on designated investment business 21(Notes 2A and 6)23 23	SUP 3.1-SUP 3.7, SUP 3.1123	SUP 3.1, SUP 3.2, SUP 3.8, SUP 3.10
(5)	Bank, building society or a dormant account fund operator which in each case does not carry on designated investment business 21 (Note 2A) 21	SUP 3.1 - SUP 3.7	SUP 3.1, SUP 3.2, SUP 3.8
(5A)	Credit union	SUP 3.1 - SUP 3.7	SUP 3.1, SUP 3.2, SUP 3.824
27(5B) [FCA]	CASS debt management firm	SUP 3.1 SUP 3.10 SUP 3.11	SUP 3.1 SUP 3.10
(6)	Insurer, the Society of Lloyd's, underwriting agent or members' adviser, UK ISPV 11 (Note 5)7	SUP 3.1 - SUP 3.7	SUP 3.1, SUP 3.2, SUP 3.8
(7)	Investment management firm, (other than an exempt CAD firm),16 personal investment firm (other than a small personal investment firm or exempt CAD firm) 15,28 securities and futures firm (other than an exempt CAD firm or an exempt BIPRU commodities firm 20)15 or collective portfolio management firm that is an external AIFM 28 which, in each case, has an auditor appointed under or as a result of a statutory provision other than in the Act 9(Notes 3 and 623)17 23 9 28 17 23	SUP 3.1 - SUP 3.7, SUP 3.1123	SUP 3.1, SUP 3.2, SUP 3.8,19SUP 3.10 19
9(7A)	Investment management firm (other than an exempt CAD firm)20, personal investment firm (other than a small personal investment firm or exempt CAD firm 15),28 securities and futures firm (other than an exempt CAD firm 15 or an exempt BIPRU commodities firm 20) or collective portfolio management firm that is an external AIFM 28 not within (7) to which the custody chapter or client money chapter applies22 23 28 17 22	SUP 3.1 - SUP 3.7, SUP 3.1123	SUP 3.1, SUP 3.2, SUP 3.8, SUP 3.1025
25(7AA)	A firm that has exercised an opt in to CASS in accordance with CASS 1.4.9 R	SUP 3.1 to SUP 3.7, SUP 3.11	SUP 3.1, SUP 3.2, SUP 3.8, SUP 3.10.
9(7B)	Collective portfolio management firm that is a 28 UCITS firm 13or an internally managed AIF 28 (Note 6)23 13	SUP 3.1 - SUP 3.7, SUP 3.1123	SUP 3.1, SUP 3.2, SUP 3.8,19SUP 3.10 19
13(7C)	UK MiFID investment firm, which has an auditor appointed under or as a result of a statutory provision other than in the Act (Notes 3B and 6)23 20 20 23	SUP 3.1 - 3.7, SUP 3.1123	SUP 3.1, SUP 3.2, SUP 3.8, SUP 3.1014
17(7D)	Sole trader or partnership that is a UK 20 MiFID investment firm (other than an exempt CAD firm) (Notes 3C and 6)23 20 20 23	SUP 3.1 - SUP 3.7, SUP 3.1123	SUP 3.1, SUP 3.2, SUP 3.8, SUP 3.10
(8)	Small personal investment firm or service company which, in either case, has an auditor appointed under or as a result of a statutory provision other than in the Act	SUP 3.1, SUP 3.2, SUP 3.7	SUP 3.1, SUP 3.2, SUP 3.8
(9)8	Home finance provider 10 which has an auditor appointed under or as a result of a statutory provision other than in the Act 9 10	SUP 3.1 - SUP 3.78	SUP 3.1, SUP 3.2, SUP 3.88
(10)8	Insurance intermediary (other than an exempt insurance intermediary) to which the insurance client money chapter 17 (except for CASS 5.2 (Holding money as agent)) applies (see Note 4)8 17	SUP 3.1 - SUP 3.78, SUP 3.1123	SUP 3.1, SUP 3.2, SUP 3.8, SUP 3.108
(11)8	Exempt insurance intermediary and insurance intermediary not subject to SUP 3.1.2 R(10) which has an auditor appointed under or as a result of a statutory provision other than in the Act	SUP 3.1, SUP 3.2, SUP 3.78	SUP 3.1, SUP 3.2, SUP 3.88
(12)8	Home finance intermediary 10 or home finance administrator 10 which has an auditor appointed under or as a result of a statutory provision other than in the Act. 10 10	SUP 3.1, SUP 3.2, SUP 3.78	SUP 3.1, SUP 3.2, SUP 3.88
Note 1 = This chapter applies to an authorised professional firm in row (1) (and its auditor) as if the firm were of the relevant type in the right-hand column of IPRU(INV) 2.1.4R.
Note 2 [deleted]23 17 17 23
Note 2A = For this purpose, designated investment business does not include either or both: (a) dealing which falls within the exclusion in article 15 of the Regulated Activities Order (Absence of holding out etc) (or agreeing to do so); and (b) dealing in investments as principal (or agreeing to do so): (i) by a firm whose permission to deal in investments as principal is subject to a limitation to the effect that the firm, in carrying on this regulated activity, is limited to entering into transactions in a manner which, if the firm was an unauthorised person, would come within article 16 of the Regulated Activities Order (Dealing in contractually based investments); and (ii) in a manner which comes within that limitation; having regard to article 4(4) of the Regulated Activities Order (Specified activities: general23). 18
Note 3 = This note applies in relation to an oil market participant to which IPRU(INV) 3 does not apply and in relation to an energy market participant to which IPRU(INV) 3 does not apply. In SUP 3: (a) only SUP 3.1, SUP 3.2 and SUP 3.7 are applicable to such a firm; and (b) only SUP 3.1, SUP 3.2 and SUP 3.8 are applicable to its auditor; and, in each case, only if it has an auditor appointed under or as a result of a statutory provision other than in the Act.
17Note 3A [deleted]23 23
20Note 3B = UK MiFID investment firms include exempt CAD firms. An exempt CAD firm that has opted into MiFID can benefit from the audit exemption for small companies in the Companies Act legislation if it meets the relevant criteria in that legislation and fulfils the conditions of regulation 4C(3) of the Financial Services and Markets Act 2000 (Markets in Financial Instruments) Regulations 2007. If a firm does so benefit then SUP 3 will not apply to it. For further details about exempt CAD firms, see PERG 13, Q58.
17Note 3C20 = A sole trader or a partnership that is a UK MiFID investment firm 20 to which the custody chapter 22 or client money chapter applies22 20 must have its annual accounts audited. 20 20 22 22
Note 4 = The client money audit requirement in SUP 3.1.2 R(10) therefore applies to all insurance intermediaries except:8 • those which do not hold client money or other client assets in relation to insurance mediation activities; or 8 • those which only hold up to, but not exceeding, £30,000 of client money under a statutory trust arising under CASS 5.3.8 Insurance intermediaries which, in relation to insurance mediation activities, hold no more than that amount of client money only on a statutory trust are exempt insurance intermediaries.8
Note (5) = In row (6):7
(a)7	SUP 3.1 - SUP 3.7 applies to a managing agent in respect of its own business and in respect of the insurance business of each syndicate which it manages; and7
(b)7	SUP 3.1, SUP 3.2 and SUP 3.8 apply to the auditors of a managing agent and the auditors of the insurance business of each syndicate which the managing agent manages.1 2 3 4 5 6 7
23Note 6 = Where SUP 3.11 applies to a firm, and SUP 3.10 applies to the auditor of that firm, those sections apply whether or not that firm's permission prevents it from holding client money or custody assets and whether or not it holds client money or custody assets.A collective portfolio management firm that is an internally managed AIF is required to appoint an auditor under FUND 3.3.6R (2) (Annual report of an AIF) because the AIFM is also an AIF.28

REC 6.1.1G01/04/2013

The Act prohibits any person from carrying on, or purporting to carry on, regulated activities in the United Kingdom unless that person is an authorised person or an exempt person. If an overseas investment exchange wishes to undertake regulated activities in the United Kingdom, it will need to:2(1) obtain a Part 4A permission2 from the FCA2; 22(2) (in the case of an EEA firm or a Treaty firm) qualify for authorisation under Schedule 3 (EEA Passport Rights) or Schedule 4 (Treaty

SUP 12.6.8G01/04/2014

(1) Some of the controlled functions, as set out in SUP 10A.4.1 R22, apply to an appointed representative of a firm, other than an introducer appointed representative, just as they apply to a firm (see SUP 10A.1.15 R22). These are the governing functions and the customer function5. In the case of an appointed representative that also has a limited permission, an FCA required function may apply to it.9 As explained in SUP 10A.1.16 R22 and SUP 10A.3.2 G22 respectively:22222522522(a)

CONC 12.1.4R02/01/2015

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 except in relation to data item CCR008.6
	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, except in so far as those changes relate to data item CCR008.6
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.

Related provisions for SUP 10A.12.4

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