Related provisions for SUP 7.1.1
81 - 100 of 124 items.
This chapter is relevant to an applicant for a Part 4A permission7, as if that applicant were a firm. Where the chapter refers to appropriate7supervisory contact, the applicant should read this as being the usual supervisory7contact at7 the appropriate regulator7. Further, this chapter is relevant to a person who is subject to rules made by the appropriate regulator7 and where the chapter refers to a firm, this includes that person5.177577
This chapter applies to a firm that:(1) (a) has a Part 4A Permission; or(b) is an incoming EEA firm with a branch in the United Kingdom; or(c) is an incoming Treaty firm with a branch in the United Kingdom; and(2) is in one of the following activity groups listed in Part 1 of FEES 4 Annex 1A: (a) A.1 Deposit acceptors;(b) A.4 Insurers — life;(c) A.7 Portfolio managers excluding Class (1)A firms;(d) A.9 Managers and depositaries of investment funds, and operators of collective
7(1) A person carrying on the regulated activity of establishing, operating or winding up a collective investment scheme that is constituted as an open-ended investment company will need permission for those activities. In line with section 237(2) of the Act (Other definitions), the operator of a collective investment scheme that is an open-ended investment company is the company itself and therefore the starting point for an open-ended investment company that is incorporated
(1) A firm must pay the pensions guidance levy applicable to it within 30 days of the date of the invoice to which that sum relates, unless any of (2) to (5) apply.(2) If the firm has applied to cancel its Part 4A permission under SUP 6.4.5D (Cancellation of permission), the firm must pay the pensions guidance levy applicable to it on the date of its application.(3) If the FCA has exercised its own-initiative powers to cancel a firm'sPart 4A permission, the firm must pay the
In relation to the activities of a firm for which it has a top-up permission, only the following FCA controlled functions apply:(1) the FCA required functions, other than the apportionment and oversight function and the compliance oversight function;(2) the significant management function, in so far as it relates to:(a) designated investment business other than dealing in investments as principal, disregarding article 15 of the Regulated Activities Order; or(b) processing confirmations,
The purpose of this guidance is to help persons consider whether they need authorisation or a variation of their Part 4A permission. Businesses new to regulation who act only as introducers of insurance business are directed in particular to PERG 5.6.2 G(article 25(1): arranging (bringing about) deals in investments) to PERG 5.6.9 G (Exclusion: Article 72C (Provision of information on an incidental basis)) and PERG 5.15.6 G (Flow chart: Introducers) to help consider whether they
PRIN applies to every firm, except that:(1) for an incoming EEA firm or an incoming Treaty firm, the Principles apply only in so far as responsibility for the matter in question is not reserved by an EU4 instrument to the firm's Home State regulator;4(2) for an incoming EEA firm which is a CRDcredit institution8 without a top-up permission, Principle 4 applies only in relation to the liquidity of a branch established in the United Kingdom;8(3) for an incoming EEA firm which has
The appropriate regulator expects most disagreements about the adequacy of capital will be resolved through further analysis and discussion. The appropriate regulator may consider the use of its powers under section 166 of the Act (Reports by skilled persons) to assist in such circumstances. If the appropriate regulator and the firm still do not agree on an adequate level of capital, then the appropriate regulator may consider using its powers under section 55J of the Act to,
To determine a firm's prudential resources requirement for the period beginning on the date on which it obtains Part 4A permission and ending on the day before its next accounting reference date, the firm must carry out the calculation in CONC 10.2.5 R (2) on the basis of the total value of relevant debts under management the firm projects will be outstanding on the day before its next accounting reference date.
GEN 1.3.2 R operates on the appropriate regulator's9rules. It does not affect the appropriate regulator's9 powers to take action against a firm in an emergency, based on contravention of other requirements and standards under the regulatory system. For example, the appropriate regulator9 may exercise its own-initiative power in appropriate cases to vary a firm'sPart 4A permission9 based on a failure or potential failure to satisfy the threshold conditions (see SUP 7 (Individual9
7This section applies to:(1) an authorised professional firm in respect of its non-mainstream regulated activities unless the firm is also conducting other regulated activities and has appointed approved persons to perform the governing functions with equivalent responsibilities for the firm'snon-mainstream regulated activities and other regulated activities;(2) activities carried on by a firm whose principal purpose is to carry on activities other than regulated activities and
In addition, the chapter does not give guidance on the procedures for making an application for top-up permission, to carry on regulated activities in the United Kingdom which are outside the scope of the Single Market Directives and for which the firm cannot exercise Treaty rights. Incoming EEA firms seeking a top-up permission should refer to 3SUP 13A3.