Related provisions for SUP 9.4.3
101 - 120 of 413 items.
The rules and guidance in this section1 are intended to promote confidence in the market at Lloyd's, and to protect certain consumers of services provided by the Society in carrying on, or in connection with or for the purposes of, its regulated activities. They do this by ensuring that the Society appropriately and effectively regulates the capacity transfer market so that it operates in a fair and transparent manner.1
The byelaws referred to in INSPRU 8.4.3 R should:(1) ensure that adequate and effective arrangements are in place to enable members and persons applying to be admitted as members to enter into transactions to transfer syndicate capacity and settle these transactions in a timely manner;(2) give clear and comprehensive guidance about the dissemination of information that is, or may be, relevant to the price of syndicate capacity and the transparency of the capacity transfer market;
1The guidance on initial disclosure requirements in MCOB 4.4A3 may be relevant; in this context, that guidance should be read using home purchase plan terminology instead of the equivalent regulated mortgage contract terminology, where appropriate3.Additional requirements for distance home purchase mediation contracts with retail customersNote: The rules regarding additional disclosure requirements for, and cancellation of, distance home purchase mediation contracts are set out
3Firms may wish to consider the following provisions:3(1) the rule at MCOB 4.7A.6 R on the customer's needs and circumstances, as if it were guidance and to the extent applicable to home purchase plans; and(2) the guidance at MCOB 4.7A.1G (2), MCOB 4.7A.21 G and MCOB 4.7A.23 G (Other considerations when advising);in each case using home purchase plan terminology instead of the equivalent regulated mortgage contract terminology, where appropriate.
(1) Given the complexity of issues raised by passporting, UK firms are advised to consult legislation and also to obtain legal advice at earliest opportunity. Firms are encouraged to contact their usual supervisory contact at the appropriate UK regulator5 to discuss their proposals. However, a UK firm which is seeking guidance on procedural or notification issues relating to passporting should contact the FCA and PRA authorisations teams, as and where appropriate.555(2) An applicant
(1) A request must be from or on behalf of the borrower under sections 77 and 78 or from or on behalf of a hirer under section 79. This would include a friend or relative, a solicitor, a claims management company or other third party. Under the Data Protection Act 1998 and the Data Protection Principles, the lender or owner is not allowed to reveal such information to a third party without the authority of the borrower or hirer. It should therefore satisfy itself that the person
(1) Failure to comply with the provisions means that the agreement becomes unenforceable while the failure to comply persists, and the courts have no discretion to allow enforcement.(2) In such cases, a firm should in no way, either by act or omission, mislead a customer as to the enforceability of the agreement.(3) In particular, a firm should not in such cases either threaten court action or other enforcement of the debt or imply that the debt is enforceable when it is not.(4)
(1) 1In line with Principle 6, a firm should take reasonable steps to ensure that a customer only buys a policy under which he is eligible to claim benefits.(2) If, at any time while arranging a policy, a firm finds that parts of the cover apply, but others do not, it should inform the customer so he can take an informed decision on whether to buy the policy.(3) This guidance does not apply to policiesarranged as part of a packaged bank account.2
2(1) For a typical payment protection contract the reasonable steps required in the first part of the eligibility rule are likely to include checking that the customer meets any qualifying requirements for different parts of the policy.2(2) 2This guidance does not apply to payment protection contractsarranged as part of a packaged bank account.
1The guidance in COND 2.7 should be read as applying to both paragraph 2F of Schedule 6 to the Act and, as far as relevant to the discharge by the FCA of its functions under the Act in respect of firms carrying on, or seeking to carry on, a PRA-regulated activity, paragraph 3E of Schedule 6 of the Act.
1Firms carrying on, or seeking to carry on, a PRA-regulated activity, should note that the PRA states in its Approach Documents that analysis of such firms' business models will form an important part of the PRA's supervisory approach. For the avoidance of doubt, this guidance does not apply to the PRA's own assessment of the firms' business models.
Factors that may be relevant in the assessment of a complaint under DISP 1.4.1R (2) include the following:59(1) all the evidence available and the particular circumstances of the complaint;(2) similarities with other complaints received by the respondent;(3) relevant guidance published by the
FCA
, other relevant regulators, the Financial Ombudsman Service or former schemes; and(4) appropriate analysis of decisions by the Financial Ombudsman Service concerning similar complaints
A firm should consult SYSC 3.2.2 G to SYSC 3.2.5 G for guidance on reporting lines and delegation of functions within a firm and SYSC 3.2.13 G to SYSC 3.2.14 G for guidance on the suitability of employees and appointed representatives or, where applicable, its tied agents1. This section provides additional guidance on management of employees and other human resources in the context of operational risk.
A firm should have regard to SYSC 13.6.3 G in relation to approved persons, people occupying positions of high personal trust (for example, security administration, payment and settlement functions); and people occupying positions requiring significant technical competence (for example, derivatives trading and technical security administration). A firm should also consider the rules and guidance for approved persons in other parts of the Handbook (including APER and SUP) and the
CREDS sets out rules and guidance that are specific to credit unions. CREDS 10 refers to other more generally applicable provisions of the Handbook that are likely to be relevant to credit unions with Part 4A permission to accept deposits. For details of these provisions, we would expect credit unions to access the full text in the Handbook.
The status of the provisions in CREDS is indicated by icons containing the letters R, G or E. Please refer to chapter [...] of the Reader's Guide for further explanation about the significance of these icons. The Reader's Guide can be found 8at http://www.fca.org.uk/your-fca/documents/handbook/handbook-readers-guide
Article 53 does not apply to advice given on any of the following:(1) deposit or other bank or building society accounts (but note that providing basic advice on a stakeholder product including stakeholder deposit accounts is a separate regulated activity under article 52A of the Regulated Activities Order - see the guidance in PERG 2.7.14A G (Providing basic advice on stakeholder products));(2) interests under the trusts of an occupational pension scheme (but rights under an
12Redress should in most cases be provided by meeting the cost of rearranging the policy, by way of a lump sum payment into the policy in respect of the higher rate of premium due from its inception. It may be appropriate in individual cases to take account of the lower premiums that the complainant will have paid to date. The guidance in DISP App 1.2, as to the circumstances in which this will be appropriate, will be relevant here.
UK domestic firms with a premium listing of equity shares6 are subject to the UK
Corporate Governance Code4, whose internal
control provisions are amplified in the publication entitled ‘Guidance on Risk Management, Internal Control and Related Financial and Business Reporting (September 2014)’6 issued by the Financial Reporting Council4. Firms regulated
by the appropriate regulator12 in this category will 6be subject
to that code as well as to the requirements and standards of
The purpose of SUP 2.3 is to amplify Principle 11 in the context of information gathering by the FCA on its own initiative in the discharge of its functions under the Act. SUP 2.3 therefore sets out, in guidance on Principle 11 and in rules, how the FCA expects firms to deal with the FCA in that context, including the steps that a firm should take with a view to ensuring that certain connected persons should also cooperate with the FCA.
The table below sets out the format, reporting frequency and due date for submission in relation to regulatory returns that apply to electronic money issuers that are not credit institutions.
(1) Type of electronic money issuer |
(2) Return |
(3) Format |
(4) Reporting Frequency |
(5) Due date (Note 4) |
Balance sheet |
FSA059 |
Half yearly (Note 3) |
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Income statement |
FSA060 |
Half yearly (Note 3) |
||
Capital requirements |
FSA061 |
Half yearly (Note 3) |
||
Safeguarding |
FSA062 |
Half yearly (Note 3) |
||
Supplementary information |
FSA063 |
Half yearly (Note 3) |
||
No standard format |
Annual (Note 3) |
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Small electronic money institutions (Note 2) |
Return |
FSA064 |
Half yearly (note 5) |
|
Total electronic money outstanding @ 31st December |
FSA065 |
Annual (Note 5) |
1 month |
|
No standard format |
Annual (Note 5) |
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(a) the Post Office Limited (b) the Bank of England, the ECB and the national central banks of EEA States other than the United Kingdom (c) Government departments and local authorities (d) credit unions (e) municipal banks (f) the National Savings Bank |
No standard format |
Half yearly (Note 6) |
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Note 1 |
When submitting the completed returns required, the authorised electronic money institution must use the format of the returns set out in SUP 16 Annex 30A to SUP 16 Annex 30E. |
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Note 2 |
When submitting the completed returns required, the small electronic money institution must use the format of the returns set out in SUP 16 Annex 30F to SUP 16 Annex 30G. |
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Note 3 |
Where the authorised electronic money institution's reporting frequency is half yearly or annual, this field is calculated from the authorised electronic money institution'saccounting reference date. |
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Note 4 |
The due dates for returns are the last day of the periods given in column (5) of the table above following the relevant reporting frequency period set out in column (4) of the table above. |
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Note 5 |
The reporting frequency in relation to FSA065 is calculated from 31 December each calendar year. Otherwise, where the small electronic money institution's reporting frequency is half yearly or annual, this field is calculated from the small electronic money institution'saccounting reference date. |
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Note 6 |
This is calculated from 31 December each calendar year. |
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