Related provisions for IFPRU 6.3.12

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IFPRU 5.2.2GRP
A firm may use an AMA in combination with the BIA or TSA, provided it obtains permission from the FCA. In granting such permission, the FCA is required by article 314(3) of the EU CRR (Combined use of different approaches) to impose the following conditions when the AMA is used in combination with BIA or TSA:(1) on the date of first implementation of the AMA, a 'significant' part of the institution's operational risk are captured by that approach; and(2) the institution to commit
IFPRU 10.4.1RRP
A firm does not meet the combined buffer if the common equity tier 1 capital maintained by the firm which is not used to meet the own funds requirement under article 92(1)(c) of the EU CRR (Total capital ratio) does not meet the combined buffer.[Note: articles 129(1) (part) and 130(5) (part) of CRD]
BIPRU 4.1.2GRP
3Pursuant to the third paragraph of article 95(2) of the EUCRR, BIPRU 4 implements the following provisions of the Banking Consolidation Directive:(1) Articles 84 - 89; and(2) Annex VII.
BIPRU 4.1.3GRP
3Pursuant to the third paragraph of article 95(2) of the EUCRR, BIPRU 4 also implements Annex VIII of the Banking Consolidation Directive so far as it applies to the IRB approach. In particular, it implements (in part):(1) from Part 1 of that Annex, points 12-16, 19-22, 26(g)(ii) and 27;(2) from Part 2 of that Annex, points 8-11; and(3) from Part 3 of that Annex, points 1, 11, 20, 23-24, 58(h), 61, 64-79 and 90-93.
SYSC 19A.3.32RRP
A firm must ensure that variable remuneration is not paid through vehicles or methods that facilitate 3non-compliance with the Remuneration Code.3[Note:3article 94(1)(q) of CRD]3
SYSC 19A.3.44BRRP
3A firm must ensure that any approval by the shareholders or owners or members of the firm of a ratio that exceeds 1:1 is carried out in accordance with the following procedure:(1) the firm must give reasonable notice to all shareholders or owners or members of the firm that the firm intends to seek approval of a ratio that exceeds 1:1; (2) the firm must make a detailed recommendation to all shareholders or owners or members of the firm giving the reasons for, and the scope of,
GENPRU 2.1.49GRP
The Capital Adequacy Directive sets out various categories of investment firms subject to differing levels of initial capital. For the purpose of the third paragraph of article 95(2) of the EU CRR, a BIPRU firm falls into the category in article 5(3) of the Capital Adequacy Directive. In summary, a BIPRU firm: 1212(1) does not provide the ancillary service of safekeeping and administration of financial instruments for the account of clients, including custodianship and related
BIPRU 1.2.2GRP
Pursuant to the third paragraph of article 95(2) of the EU CRR, the2 section implements certain provisions of the Capital Adequacy Directive and the Banking Consolidation Directive relating to the trading book. The precise provisions being implemented are listed as a note after each rule.2
BIPRU 9.1.2GRP
Pursuant to the third paragraph of article 95(2) of the EUCRR, the5 purpose of BIPRU 9 is to implement:5(1) Articles 94 to 96, paragraphs (1) and (5) of Article 97 , Article 99, Article 100(1) and Article 101;(2) Points 8 and 9 of Annex V; and(3) Parts 2, 3 (in part) and 4 of Annex IX;of the Banking Consolidation Directive.
PERG 1.4.2GRP

Table: list of general guidance to be found in PERG.

Chapter:

Applicable to:

About:

PERG 2:

Authorisation and regulated activities

PERG 3A:8

Guidance on the scope of the Electronic Money Regulations8

88

a person who needs to know

PERG 4:

Regulated activities connected with mortgages

any person who needs to know whether the activities he conducts in relation to mortgages are subject to FCA regulation. This is likely to include:

  • lenders
  • administration service providers
  • mortgage brokers and advisers

the scope of relevant orders (in particular, the Regulated Activities Order) as respects activities concerned with mortgages

PERG 5:

Insurance

mediation

activities

any person who needs to know whether he carries on insurance mediation activities and is, thereby, subject to FCA regulation. This is likely to include:

the scope of relevant orders (in particular, the Regulated Activities Order) as respects activities concerned with the sale or administration of insurance

PERG 6:

Identification of contracts of insurance

any person who needs to know whether a contract with which he is involved is a contract of insurance

the general principles and range of specific factors that the FCA regards as relevant in deciding whether any arrangement is a contract of insurance

PERG 7:

Periodical publications, news services and broadcasts: application for certification

any person who needs to know whether he will be regulated for providing advice about investments through the medium of a periodical publication, a broadcast or a news service

PERG 8:

Financial promotion and related activities

any person who needs to know

PERG 9:

Meaning of open-ended investment company

any person who needs to know whether a body corporate is an open-ended investment company as defined in section 236 of the Act (Open-ended investment companies) and is therefore a collective investment scheme.

the circumstances in which a body corporate will be an open-ended investment company

PERG 10:

Activities related to pension schemes

Any person who needs to know whether his activities in relation to pension schemes will amount to regulated activities or whether the restriction in section 21 of the Act will apply to any financial promotions he may make.1

1

  • the regulated activities that arise in connection with the establishment and operation of pension schemes and any exclusions that may be relevant
  • the circumstances in which financial promotions about pension schemes may be exempt from the restriction in section 21 of the Act1

4PERG 11:

Property investment clubs and land investment schemes

Any person who needs to know whether his activities in relation to property investment clubs and land investment schemes will amount to regulated activities or whether the restriction in section 21 of the Act will apply to any financial promotions he may make.

  • the regulated activities that may arise in connection with the establishment and operation of property investment clubs and land investment schemes and any exclusions that may be relevant
  • the extent to which the financial promotion restriction in section 21 of the Act applies

2PERG 12:

Running or advising on personal pension schemes

any person who needs to know whether his activities in relation to establishing, running, advising on or marketing personal pension schemes will amount to regulated activities

the regulated activities that arise in connection with establishing, running, advising on or marketing personal pension schemes and any exclusions that may be relevant

3PERG 13:

Guidance on the scope of MiFID and CRD IV12

9125

Any UK person who needs to know whether MiFID or the CRD and EUCRR (which allow the recast CAD to continue to apply to certain firms)9as implemented in the UK apply to him5

9

the scope of MiFID and the CRD and EUCRR.5

9

3PERG 14:

Home reversion,7 home finance and regulated sale and rent back 7activities

7

Any person who needs to know whether his activities in relation to home reversion plans,7home purchase plans or regulated sale and rent back agreements7will amount to regulated activities or whether the restriction in section 21 of the Act will apply to any financial promotions he may make.

7

6PERG 15: Guidance on the scope of the Payment Services Regulations 2009

Any person with an establishment in the UK who needs to know whether the Payment Services Directive, as transposed in UK legislation by the Payment Services Regulations 2009, applies to him.

Q46 applies specifically to persons providing payment services from an establishment outside the EEA to persons located in the UK.

the scope of the PSD Regulations 2009.11

11PERG 16: Scope of the Alternative Investment Fund Managers Directive

any person who needs to know whether a collective investment undertaking is an AIF.

the scope of the regulated activities of managing an AIF and acting as trustee or depositary of an AIF.10

10PERG 17: Consumer credit debt counselling

Any person who needs to know whether his activities in relation to debts will amount to debt counselling.

The scope of the regulated activities relating to consumer credit debt counselling.
RCB 2.3.13GRP
In assessing whether the asset pool is of sufficient quality, the FCA will have regard to the requirements in relation to the collateralisation of real estate2referred to in article 208 of the EUCRR2 and the valuation rules in article 229(1) of the EUCRR2. 22
BIPRU 12.4.-1RRP
2A firm must consider alternative scenarios on liquidity positions and on risk mitigants and must review the assumptions underlying decisions concerning the funding position at least annually4. For these purposes, alternative scenarios must address, in particular, off-balance sheet items and other contingent liabilities, including those of securitisation special purpose entities(SSPEs) or other special purpose entities, as referred to in the EUCRR,4 in relation to which the firm
SYSC 4.1.7RRP
A common platform firm and a management company10 must establish, implement and maintain an adequate business continuity policy aimed at ensuring, in the case of an interruption to its systems and procedures, that any losses are limited, the preservation of essential data and functions, and the maintenance of its regulated activities, or, in the case of a management company, its collective portfolio management activities,10 or, where that is not possible, the timely recovery of
BIPRU 2.1.2GRP
3Pursuant to the third paragraph of article 95(2) of the EUCRR, the purpose of this section is to implement Articles 70 and 118 of the Banking Consolidation Directive3so far as they apply under Articles 2 and 28 of the Capital Adequacy Directive to CAD investment firms3 that are subject to the requirements imposed by MiFID (or which would have been subject to that Directive if its head office were in an EEA State), but excluding a bank, building society, a credit institution,
SUP 16.16.3GRP
(1) The purpose of this section is to set out the requirements for a firm specified in SUP 16.16.1 R to report the outcomes of its prudent valuation assessments to the appropriate regulator7 and to do so in a standard format.27(2) The purpose of collecting this data on the prudent valuation assessments made by a firm is to assist the appropriate regulator7 in assessing the capital resources of firms, to enable the appropriate regulator7 to gain a wider understanding of the
PERG 2.4.3GRP
Section 418 of the Act (Carrying on regulated activities in the United Kingdom) takes this one step further. It extends the meaning that 'in the United Kingdom' would ordinarily have by setting out five additional cases. The Act states that, in these five cases, a person who is carrying on a regulated activity but who would not otherwise be regarded as carrying on the activity in the United Kingdom is, for the purposes of the Act, to be regarded as carrying on the activity in
BIPRU 7.1.2GRP
Pursuant to the third paragraph of article 95(2) of the EUCRR, the4 purpose of this chapter is to implement Annexes I, III, IV and V of the Capital Adequacy Directive.4