Related provisions for SUP 9.2.4
Statements of Principle issued under section 64 of the Act
Statement of Principle 1 An approved person must act with integrity in carrying out his accountable functions. |
Statement of Principle 2 An approved person must act with due skill, care and diligence in carrying out his accountable functions. |
Statement of Principle 3 An approved person must observe proper standards of market conduct in carrying out his accountable functions. |
Statement of Principle 4 An approved person must deal with the FCA, the PRA and other regulators in an open and cooperative way and must disclose appropriately any information of which the FCA or the PRA would reasonably expect notice. |
Statement of Principle 5 An approved person performing an accountable significant-influence function must take reasonable steps to ensure that the business of the for which he is responsible in his accountable function is organised so that it can be controlled effectively. |
Statement of Principle 6 An approved person performing an accountable significant-influence function must exercise due skill, care and diligence in managing the business of the for which he is responsible in his accountable function. |
Statement of Principle 7 An approved person performing an accountable significant-influence function must take reasonable steps to ensure that the business of the for which he is responsible in his accountable function complies with the relevant requirements and standards of the regulatory system. |
1The table below sets out the period within which a firm's tariff base is calculated (the data period) for second year levies calculated under FEES 5.8.2R. The example is based on a firm that acquires permission on 1 November 20146and has a financial year ending 31 March. Where valuation dates fall before the firm receives permission it should use projected valuations in calculating its levies.
References in this table to dates or months are references to the latest one occurring before the start of the FCA's financial year unless otherwise stated.
6Type of permission acquired on 1 November |
Tariff base |
Valuation date but for FEES 5.8.2R |
Data period under FEES 5.8.2R |
Insurers - general |
Relevant annual gross premium income and gross technical liabilities6 |
31 March 20146- so projected valuations will be used 6 |
1 November to 31 December 20146. 6 |
Portfolio managers (including those holding client money/ assets and not holding client money/ assets) 6 |
Relevant funds under management |
Valued at 31 December |
Valued at 31 December |
Advisers,6arrangers, dealers or brokers holding and controlling client money and/or assets 6 |
Annual income as defined in FEES 4 Annex 11A6 6 |
31 December. 6 This is because the firm's tariff base is calculated by reference to the firm's financial year end in the calendar year before the start of the FCAfee year. Therefore FEES 5.8.2R (3)(c) applies. 6 6 |
1 November to 31 December but annualised in accordance with FEES 5.8.2R (3)(c)(iii)6 6 |