Related provisions for CONC 8.7.7
201 - 220 of 512 items.
(1) The depositary must make an annual report to unitholders which must be included in the annual report.(2) The annual report must contain:(a) a description, which may be in summary form, of the duties of the depositary under COLL 6.6.4 (General duties of the depositary) and in respect of the safekeeping of the scheme property; and(b) a statement whether, in any material respect:(i) the issue, sale, redemption and cancellation, and calculation of the price of the units and the
The authorised fund manager must ensure that the report of the auditor to the unitholders includes the following statements:33(1) whether, in the auditor's opinion, the accounts have been properly prepared in accordance with the IMA SORP, the rules in this sourcebook, and the instrument constituting the fund;1010(2) whether, in the auditor's opinion, the accounts give a true and fair view of the net revenue3and the net capital 3gains or losses on3the scheme property of the authorised
(1) A person who in any place outside the United Kingdom acts or engages in conduct:(a) for the purposes of stabilising the price of investments;(b) in conformity with the provisions specified in (2), (3) or (4); and(c) in relation to an offer which is governed by the law of a country (or a state or territory in a country) so specified;is to be treated for the purposes of section 397(5)(b) of the Act (misleading statements and practices) as acting or engaging in conduct for that
A person who is treated under MAR 2.5.1R (1) as acting or engaging in conduct in conformity with the price stabilising rules is also to be treated to an equivalent extent as so acting or engaging for the purposes of:(1) MAR 2.2.1R (2) and MAR 2.2.2 G, provided that the investments concerned are not admitted to trading on a regulated market and there has been no request for admission to trading on a regulated market;(2) Part XIV (Disciplinary measures); and (3) Part XXV (Injunctions
Section 21 precludes the promotion by unauthorised persons of unregulated collective investment schemes unless the financial promotion is approved by an authorised person or is exempt. Section 238 then precludes the promotion of an unregulated collective investment scheme by authorised persons except where:(1) there is an exemption in an order made by the Treasury under section 238(6); or(2) the financial promotion is permitted under rules made by the FCA under section 238(5)
The FCA has made rules under section 238(5) which allow authorisedfirms to communicate or approve a financial promotion for an unregulated collective investment scheme in certain specified circumstances. These circumstances are set out in COBS 4.12.4 R3 To date, the Treasury has not made an order exempting single property schemes under section 239.23
6The decision by the appropriate regulator to require the collection or updating of information by a skilled person under section 166A of the Act (Appointment of skilled person to collect and update information) will be prompted where the appropriate regulator considers there has been a breach of a requirement by a firm to collect, and keep up to date, information of a description specified in the appropriate regulator'srules.
The appropriate regulator6 will have regard to legal and procedural considerations including:6(1) statutory powers: whether one of the other available statutory powers is more appropriate for the purpose than the power in section 166 (Reports by skilled persons) or section 166A (Appointment of skilled person to collect and update information) of the Act;66(2) subsequent proceedings: whether it is desirable to obtain an authoritative and independent report for use in any subsequent
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
(1) 21The operator of , an approved
reporting mechanism2, or the operator of an MTF or a market
operator through whose systems a reportable transaction is
to be completed and which has, pursuant to SUP 17.2.3 R,
agreed to make transactionreports2 to the FCA on behalf of a firm,
must:2(a) make reports to the FCA in respect of each to which
the agreement relates;2(b) ensure such reports 2contain the reporting fields
specified in SUP
17 Annex 1, where applicable; and2(c) ensure
(1) 1A transaction report should distinguish each
individual transaction, using
the firm's identifying code.(2) Reporting obligations under this
chapter do not affect any obligation to report transactions under
the rules of any market, trading system, matching or reporting system or exchange,
whether or not that market, system or exchange is a regulated
market.
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.
Any specific rule or piece of guidance in CONC is without prejudice to the application of PRIN, any other rules in the Handbooks, the CCA and secondary legislation made and things done under it, the Consumer Protection from Unfair Trading Regulations 2008, the Consumer Rights Act 20152, Part 8 of the Enterprise Act 2002 and any other applicable consumer protection legislation.
(1) This rule applies when a premium will be paid using a credit agreement other than a revolving credit agreement. (2) A firm must provide price information in a way calculated to enable the customer to understand the additional repayments that relate to the purchase of the policy, and the total cost of the policy.(3) Price information must reflect any difference between the duration of the policy and that of the credit agreement.(4) A firm must explain to a customer, as applicable,
(1) When explaining the implications of a change, a firm should explain any changes to the benefits and significant or unusual exclusions arising from the change.(2) Firms will need to consider whether mid-term changes are compatible with the original policy, in particular whether it reserves the right to vary premiums, charges or other terms. Firms also need to ensure that any terms which reserve the right to make variations are not themselves unfair under the Unfair Terms Regulations
SUP 10A.11 disapplies the apportionment and oversight function for a person who is the subject of an application for approval to perform a PRA governing function, subject to certain conditions set out in SUP 10A.11.11 R. Where this is the case the apportionment and oversight function is included in the PRA governing function for which the person has approval. SUP 10B.7 of the PRA'sHandbook deals with this.
1Where, in relation to a UK RIE a proposal has been made to appoint or elect a person as a key individual, that UK RIE must at least 30 days before the date of the appointment or election give notice of that event, and give the information specified for the purposes of this rule in REC 3.4.4A R to the FCA.3 [Note: Article 37(1), paragraph 1, second sentence of MiFID]3
(1) 8A tied agent that is an appointed representative may not start to act as a tied agent until it is included on the applicable register (section 39(1A) of the Act). If the tied agent is established in the UK, the register maintained by the FCA is the applicable register for these purposes. If the tied agent is established in another EEA State, it should consult section 39(1B) of the Act to determine the applicable register.(2) A UK MiFID investment firm that appoints an FCA
(1) Every unitholder of an AUT1 is entitled to transfer units held on the register by an instrument of transfer in any form that the person responsible for the register may approve, but that person is under no duty to accept a transfer unless:(a) it is permitted by the trust deed or prospectus; and(b) the transfer is excluded by Schedule 19 of the Finance Act 1999 from a charge to stamp duty reserve tax, or there has been paid to the trustee, for the account of the AUT, an amount
(1) 1Where transfer of units in an ACS is allowed by its contractual scheme deed and prospectus in accordance with the conditions specified by FCArules, the authorised contractual scheme manager of the ACS must take reasonable care to ensure that units are only transferred if the conditions specified by the FCA under (2) are met.(2) The FCA specifies that for the purposes of (1), and for the purposes of COLL 3.2.6 R(27G) (ACSs: UCITS and NURS transfer of units) and COLL 4.2.5
Where a UK RIE proposes to operate a new regulated market or close an existing regulated market it must give the FCA3notice of that event and the information specified for the purposes of this rule in REC 3.14A.3 R, at the same time as that proposal is first formally communicated to its members or shareholders (or any group or class of them). 3
Where a UK RIE proposes to operate a new MTF or close an existing MTF it must give the FCA3notice of that event and the information specified for the purposes of this rule in REC 3.14A.5 R, at the same time as that proposal is first formally communicated to its members or shareholders (or any group or class of them).3
28The information regarding the Financial Ombudsman Service required to be provided in responses sent under the complaints time limit rules (DISP 1.6.2 R and DISP 1.6.4 R)39 should be set out clearly, comprehensibly, in an easily accessible way and 410prominently within the text of those responses.39[Note: article 13 of the ADR Directive]410
Notwithstanding SUP 10A.1.8 G, an incoming EEA firm (other than an EEA pure reinsurer) or incoming Treaty firm will have had to consider the impact of the Host State rules with which it is required to comply when carrying on a passported activity or Treaty activity through a branch in the United Kingdom. An incoming EEA firm (other than an EEA pure reinsurer) will have been notified of those provisions under Part II of Schedule 3 to the Act in the course of satisfying the conditions
In the case of OPS activity undertaken by an OPS firm, CASS applies with the following general modifications:(1) references to customer are to the OPS or welfare trust, whichever fits the case, in respect of which the OPS firm is acting or intends to act, and with or for the benefit of which the relevant activity is to be carried on; and(2) if an OPS firm is required by any rule in CASS to provide information to, or obtain consent from, a customer, that firm must ensure that the
(1) This rule does not apply to a firm to which CASS 7.18.4 R (1) applies.(2) For each client transaction account, a firm must, in accordance with CASS 7.18.6 R, complete and sign a client transaction account acknowledgement letter clearly identifying the client transaction account. That letter must be sent to the person with whom the client transaction account is, or will be, opened, requesting such person to acknowledge and agree to the terms of the letter by countersigning
(1) This rule applies to:(a) any countersigned client bank account acknowledgement letter or client transaction account acknowledgement letter received by a firm under CASS 7.18.2 R (2) or CASS 7.18.3 R (3) respectively; and(b) any authorised central counterparty acknowledgement letter sent by a firm under CASS 7.18.4 R (1), whether or not it has been countersigned by the relevant authorised central counterparty and received by the firm.(2) A firm must, periodically (at least
(1) The aim of the dual-regulated firms Remuneration Code is to ensure that firms have risk-focused remuneration policies, which are consistent with and promote effective risk management and do not expose them to excessive risk. It expands upon the general organisational requirements in SYSC 4.(2) The dual-regulated firms Remuneration Code implements the main provisions of the CRD which relate to remuneration. The Committee of European Banking Supervisors published Guidelines
(1) The dual-regulated firms Remuneration Code does not contain specific notification requirements. However, general circumstances in which the FCA expects to be notified by firms of matters relating to their compliance with requirements under the regulatory system are set out in SUP 15.3 (General notification requirements).(2) For remuneration matters in particular, those circumstances should take into account unregulated activities, as well as regulated activities and the activities
(1) 5Unless exempt under FEES 6.2.1 R or FEES 6.2.1A R11, a participant firm must provide the FSCS by the end of February each year (or, if it has become a participant firm part way through the financial year, by the date requested by the appropriate regulator) with a statement of:4(a) 10classes to which it belongs; and410(b) the total amount of business (measured in accordance with the appropriate tariff base or tariff bases) which it conducted, in respect of the most recent