Related provisions for BIPRU 2.3.11

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SUP 7.1.4GRP
The FCA2, in the course of its supervision of a firm, may sometimes judge it necessary or desirable to impose additional requirements on a firm or in some way amend or restrict the activities which the firm has permission to undertake. The guidance in this chapter describes when and how the FCA2 will seek to do this.22
SUP 3.5.4GRP
The appropriate regulator will regard an auditor as independent if his appointment or retention does not breach the ethical guidance in current issue from the auditor's recognised supervisory body on the appointment of an auditor in circumstances which could give rise to conflicts of interest.
REC 6.8.1GRP
The FCA1 has similar powers to supervise ROIEs1 to those it has to supervise UK RIEs1. It may (in addition to any other powers it might exercise):111(1) give directions to an ROIE1 under section 296 of the Act (Authority's power to give directions) if it has failed, or is likely to fail, to satisfy the recognition requirements or if it has failed to comply with any other obligation imposed by or under the Act; or1(2) revoke a recognition order under section 297 of the Act (Revoking
REC 6.1.2GRP
Having the status of an ROIE2 facilitates the participation of overseas investment exchanges in UKmarkets. In comparison with authorisation, it reduces the involvement which UK authorities need to have in the day-to-day affairs of an overseas recognised body because they are able to rely substantially on the supervisory and regulatory arrangements in the country where the applicant's head office is situated.22
SUP 1A.2.2GRP
For a firm which undertakes business internationally (or is part of a group which does), the FCA will have regard to the context in which it operates, including the nature and scope of the regulation to which it is subject in jurisdictions other than the United Kingdom. For a firm with its head office outside the United Kingdom, the regulation in the jurisdiction where the head office is located will be particularly relevant. As part of its supervision of such a firm, the FCA
MAR 4.4.1RRP
This chapter is subject to the following exceptions:(1) this chapter does not require an authorised professional firm to contravene any rule or principle of, or requirement of a published guidance note relating to, professional conduct applying generally to members of the profession regulated by its designated professional body;(2) this chapter does not prevent an authorised professional firm from providing professional advice, that is, in accordance with section 327(8) of the
SUP 8.9.2GRP
1If the appropriate regulator2, in the course of carrying on supplementary supervision of a financial conglomerate, is considering exercising its powers under section 138A2 of the Act (Modification or waiver of rules), regulation 4 of the Financial Groups Directive Regulations contains special provisions. The appropriate regulator2 must, in broad terms, do two things. Where required by those regulations, it must obtain the consent of the relevant competent authorities of the group.
SYSC 3.2.3GRP
(1) A firm'sgoverning body is likely to delegate many functions and tasks for the purpose of carrying out its business. When functions or tasks are delegated, either to employees or to appointed representatives or, where applicable, its tied agents8, appropriate safeguards should be put in place.(2) When there is delegation, a firm should assess whether the recipient is suitable to carry out the delegated function or task, taking into account the degree of responsibility involved.(3)
SYSC 3.2.4GRP
(1) The guidance relevant to delegation within the firm is also relevant to external delegation ('outsourcing'). A firm cannot contract out its regulatory obligations. So, for example, under Principle 3 a firm should take reasonable care to supervise the discharge of outsourced functions by its contractor.(2) A firm should take steps to obtain sufficient information from its contractor to enable it to assess the impact of outsourcing on its systems and controls.
SUP 12.4.2RRP
Before a firm appoints a person as an appointed representative (other than an introducer appointed representative) and on a continuing basis, it must establish on reasonable grounds that:11(1) the appointment does not prevent the firm from satisfying and continuing to satisfy the threshold conditions;(2) the person:(a) is solvent;(b) is otherwise 1suitable to act for the firm in that capacity;and1(c) has no close links which would be likely to prevent the effective supervision
SUP 12.4.5GRP
In determining, under SUP 12.4.2 R (2)(c), whether an appointed representative or prospective appointed representative has any close links which would be likely to prevent the firm's effective supervision, a firm should consider the guidance to threshold condition 2C or 3B as applicable23 in COND 2.3.23
REC 5.2.3GRP
An application should:(1) be made in accordance with any directions the FCA5 may make under section 287 (Application by an investment exchange) of the Act or (for RAPs) regulation 2 of the RAP regulations;353355(2) in the case of an application under section5 287 of the Act, 3be accompanied by the applicant's regulatory provisions and in the case of an application under section 287 of the Act information required pursuant to sub-sections 287(3)(c), (d) and (e) of the Act (see
REC 5.2.12GRP
Where the FCA5 considers that it is unlikely to make a recognition order it will discuss its concerns with the applicant as early as possible with a view to enabling the applicant to make changes to its rules or guidance, or other parts of the application (see REC 5.2.7 G). If the FCA5 decides that it will not make a recognition order, it will follow the procedure set out in section 298 of the Act (Directions and revocation: procedure) or (in the case of an RAP) regulation 5 of
LR 8.7.3GRP
FCA staff, after notifying the sponsor, may make supervisory visits to a sponsor on a periodic and an ad hoc basis.
LR 8.7.10GRP
Written notifications should be sent to the Sponsor Supervision Team at the FCA's address.
IFPRU 2.2.48RRP
A firm controlled by a parent financial holding company in a Member State or a parent mixed financial holding company in a Member State must comply with the ICAAPrules on the basis of the consolidated situation of that holding company, if the FCA is responsible for supervision of the firm on a consolidated basis under article 111 of CRD. [Note: article 108(3) of CRD]
IFPRU 2.2.60RRP
Compliance with the obligations in IFPRU 2.2.59 R must enable the FCA consolidation group or the non-EEA sub-group to have arrangements, processes and mechanisms that are consistent, well integrated and ensure that data relevant to the purpose of supervision can be produced.[Note: article 109(2) of CRD]
SUP 6.3.4GRP
In determining the activities and specified investments for which a Part 4A permission27 is required, and whether to apply for a variation of that permission, a firm may need to take professional advice and may also wish to discuss this with its appropriate supervisory contact.272727
SUP 6.3.31GRP
In considering whether to grant (or consent to, as the case may be)27 a firm's application to vary its Part 4A permission or impose or vary a requirement, the regulator concerned will also have regard, under section 55R(1)27 of the Act (Persons connected with an applicant), to any person6 appearing to be, or likely to be, in a relationship with the firm which is relevant. The Financial Groups Directive Regulations make special consultation provisions where the regulator is exercising
SUP 18.2.27GRP
If the transferee is not (and will not be) authorised and will be neither an EEA firm nor a Swiss general insurance company, then the appropriate regulator8 will need to consult the transferee's8 insurance supervisor in the place where the business is to be transferred. The appropriate regulator8 will need confirmation from this supervisor that the transferee will meet his solvency margin requirements there (if any) after the transfer.888
SUP 18.2.30GRP
Where the transferor is a8UK-deposit insurer and, following the transfer, it will no longer be carrying on insurance business in the United Kingdom, the appropriate regulator8 will need to collaborate with regulatory bodies in the other EEA States in which it is carrying on business to ensure that effective supervision of the business carried on in the EEA continues. The transferor should cooperate with the appropriate regulator8 and the other regulatory bodies in this process
BIPRU 2.2.20GRP
A firm's continuing to hold capital in accordance with its individual capital guidance and its ability to carry on doing so is a fundamental part of the appropriate regulator's supervision of that firm. Therefore if a firm'scapital resources have fallen, or are expected to fall, below the level advised in individual capital guidance, then, consistent with Principle 11 (Relations with regulators), a firm should inform the appropriate regulator of this fact as soon as practicable,
BIPRU 2.2.23BGRP
4Following discussions with the firm on the items listed in BIPRU 2.2.23AG (1) to BIPRU 2.2.23AG (3), the appropriate regulator may put in place additional reporting arrangements to monitor the firm's use of its capital planning buffer in accordance with the plan referred to in BIPRU 2.2.23AG (3). The appropriate regulator may also identify specific trigger points as the capital planning buffer is being used up by the firm, which could lead to additional supervisory actions.
SUP 15.3.7AGRP
10Although PRIN does not apply to a firm in relation to its carrying on of auction regulation bidding, the FCA35expects to be given notice of events that are material to the FCA's35supervision of that business and so firms carrying on that business should have regard to the guidance in SUP 15.3.8 G to SUP 15.3.10 G.3535
SUP 15.3.8GRP
Compliance with Principle 11 includes, but is not limited to, giving the appropriate regulator35 notice of:35(1) any proposed restructuring, reorganisation or business expansion which could have a significant impact on the firm's risk profile or resources, including, but not limited to:(a) setting up a new undertaking within a firm'sgroup, or a new branch (whether in the United Kingdom or overseas); or (b) commencing the provision of cross border services into a new territory;
BIPRU 12.5.7GRP
The appropriate regulator will review the results of a firm'sILAA, including the results of the stress tests required by BIPRU 12.5.6R, as part of its Supervisory Liquidity Review Process (SLRP). The appropriate regulator's review of the stress test results will assist it assessing the adequacy of a firm's liquidity resources relative to other ILAS BIPRU firms and, consequently, in calibrating the individual liquidity guidance that it gives to that firm. BIPRU 12.9.2G sets out
BIPRU 12.5.39GRP
In complying with BIPRU 12.5.38R a firm is therefore assessing its exposure to inter-office liquidity risk, rather than intra-groupliquidity risk. It is the appropriate regulator's assessment of the firm's inter-office liquidity risk that is one of the factors that will inform the appropriate regulator's decision as to the appropriate size for the firm's local operational liquidity reserve (as described in BIPRU 12.2).
SUP 10A.10.8RRP
The customer function does not extend to an individual who is performing the functions in SUP 10A.10.7R (1) to SUP 10A.10.7R (2) or SUP 10A.10.7R (5) to (7) and who is based overseas and who, in a 12-month period, spends no more than 30 days in the United Kingdom to the extent that he is appropriately supervised by a person approved for this function.
DEPP 6.6.2GRP
In addition to the factors considered in Step 2 for cases against firms (DEPP 6.5A) and cases against individuals (DEPP 6.5B),1 the following considerations are relevant.1(1) In general, the FCA's2 approach to disciplinary action arising from the late submission of a report will depend upon the length of time after the due date that the report in question is submitted.2(2) If the person concerned is an individual, it is open to him to make representations to the FCA2 as to why