Related provisions for COND 1.1A.7
301 - 320 of 331 items.
Applications for Part 4A permission (and exercises of Treaty rights) other than in respect of credit-related regulated activities7 are categorised by the 9FCA for the purpose of fee raising as straightforward, moderately complex and complex7 as identified in FEES 3 Annex 1. This differentiation is based on the permitted activities sought and does not reflect the 9FCA's risk assessment of the applicant (or Treaty firm).979
A firm is a significant IFPRU firm if it meets, at any time, one or more of the following conditions:(1) its total assets exceeds £530 million;(2) its total liabilities exceeds £380 million;(3) the annual fees and commission income it receives in relation to the regulated activities carried on by the firm exceeds £160 million in the 12-month period immediately preceding the date the firm carries out the assessment under this rule on a rolling basis; (4) the client money that it
The matters referred to in FIT 2.1.1 G to which the appropriate regulator will have regard include, include, but are not limited to:(1) whether the person has been convicted of any criminal offence; this must include, where provided for by the Rehabilitation Exceptions Orders4to2 the Rehabilitation of Offenders Act 1974 or the Rehabilitation of Offenders (Northern Ireland) Order 1978 (as applicable)4, any spent convictions2; particular consideration will be given to offences
If a firm ceases to be a participant firm or carry out activities within one or more classes54 part way through a financial year4 of the compensation scheme:4(1) it will remain liable for any unpaid levies which the FSCS has already made on the firm; and41(2) the FSCS may make one or more levies4 upon it (which may be before or after the firm5 has ceased to be a participant firm or carry out activities within one or more classes5,4 but must be before it ceases to be an authorised
(1) This chapter does not apply to an authorised professional firm: (a) whose main business is the practice of its profession; and(b) whose regulated activities covered by this chapter are incidental to its main business.(2) A firm's main business is the practice of its profession if the proportion of income it derives from professional fees is, during its annual accounting period, at least 50% of the firm's total income (a temporary variation of not more than 5% may be disregarded
Notwithstanding any other financial resource requirements that may apply, a firm whose permitted activities include administering a specified benchmark must:(1) be able to meet its liabilities as they fall due; and(2) maintain, at all times, sufficient financial resources to be able to cover the operating costs of administering the specified benchmark for a period of at least six months.
The FCA may carry out mystery shopping:(1) together with a programme of visits to obtain information about a particular practice, looking at a particular issue across a range of firms, when the FCA may advise the firms of the issues beforehand; the practice being scrutinised may be that of firms or a class of firms in carrying on regulated activities or ancillary activities or in communicating or approving financial promotions; (2) together with focused visits (concentrating on
1This section sets out the conditions which must be satisfied for a firm to enter into or vary a regulated mortgage contract with a customer, or arrange such a transaction for a customer, without giving advice, or where the advice given by the firm has been rejected. As explained in MCOB 4.7A.1 G, it does not prohibit the giving of pre-contract or preliminary information which does not amount to advice to the particular customer. If a firm intends (where permitted under this
(1) When a firm establishes and maintains a Chinese wall (that is, an arrangement that requires information held by a person in the course of carrying on one part of the business to be withheld from, or not to be used for, persons with or for whom it acts in the course of carrying on another part of its business) it may:3(a) withhold or not use the information held; and(b) for that purpose, permit persons employed in the first part of its business to withhold the information held
2This chapter applies to a firm with Part 4A permission to carry on any of the activities:(1) insurance mediation activity;(2) home finance mediation activity;1unless any of the following exemptions apply:1(3) in relation to insurance mediation activity, this chapter does not apply to a firm if another authorised person which has net tangible assets of more than £10 million provides a comparable guarantee; for this purpose:(a) if the firm is a member of a group in which there
(1) This paragraph applies to an undertaking that would be a third country BIPRU firm if it were authorised under the Act.(2) Except in exceptional circumstances, it is the appropriate regulator's policy that it will not give an overseas applicant a Part 4A permission unless the appropriate regulator is satisfied that the applicant will be subject to prudential regulation by its home state regulatory body that is broadly equivalent to that provided for in the Handbook and the
Unless the context otherwise requires, in SUP 10A.12 (Procedures relating to FCA-approved persons) to SUP 10A.17 (Further questions) where reference is made to a firm, this also includes an applicant for Part 4A permission, and other persons seeking to carry on regulated activities as an authorised person.
A firm must:(1) where it has responsibility for doing so, explain the key features of a regulated credit agreement to enable the customer to make an informed choice as required by CONC 4.2.5 R;[Note: paragraphs 4.27 to 4.30 of CBG and 2.2 of ILG](2) take reasonable steps to satisfy itself that a product it wishes to recommend to a customer is not unsuitable for the customer's needs and circumstances;[Note: paragraph 4.22 of CBG](3) advise a customer to read, and allow the customer
The firm should also satisfy itself that:(1) the appointed representative is making and retaining records in accordance with the relevant record keeping rules in the Handbook, if these records are not maintained by the firm;(2) the appointed representative (other than an introducer appointed representative) is making and retaining records sufficient to disclose with reasonable accuracy the financial position of the business it carries on in its capacity as the firm's appointed