Related provisions for GENPRU 1.1.2B

141 - 160 of 162 items.

Search Term(s)

Filter by Topics

Filter by Modules

Filter by Documents

Filter by Keywords

Effective Period

Similar To

To access the FCA Handbook Archive choose a date between 1 January 2001 and 31 December 2004 (From field only).

FEES 2.2.2GRP
The FCA22, (for FCA and PRA22periodic fees, FOS and FSCS levies and CFEB levies), expects11 to issue invoices at least 30 days before the date on which the relevant amounts fall due. Accordingly it will generally be the case that a person will have at least 30 days from the issue of the invoice before an administrative fee becomes payable.226723117232
SUP 1A.1.3GRP
The design of these arrangements is shaped by the FCA'sstatutory objectives in relation to the conduct supervision of financial services firms as well as the prudential supervision of firms not supervised by the PRA. These objectives are set out in Chapter 1 of the Act. The FCA has one strategic objective: ensuring that the relevant markets function well. In discharging its general functions, the FCA must, so far as is reasonably possible, act in a way which is compatible with
SUP 16.1.7GRP
66Where a PRA-authorised person is required to notify or provide any information to (a) the appropriate regulator by a PRA Handbook provision and (b) the FCA by the equivalent provision in the FCA Handbook, the PRA-authorised person is expected to comply with both provisions.
SYSC 14.1.29BGRP
(1) 6SYSC 14.1.29G(6) does not apply to a Solvency II firm.(2) SYSC 14.1.29G(7) does not apply to a Solvency II firm, but only in relation to references to the internal audit function. It does apply to a Solvency II firm in relation to references to the internal audit committee.(3) For Solvency II firms, the PRA has made rules implementing the governance provisions of the Solvency II Directive relating to internal controls (article 46), see PRA Rulebook: Solvency II firms: Conditions
SUP 13.3.5AGRP
20Where the PRA is the appropriate UK regulator, it will consult the FCA before deciding whether to give a consent notice, except where paragraph 19(7A) of Part III of Schedule 3 to the Act applies. Where the FCA is the appropriate UK regulator, it will consult the PRA before deciding whether to give a consent notice in relation to a UK firm whose immediate group includes a PRA-authorised person.
SUP 10A.13.6GRP

Outsourcing arrangements

Outsourcing arrangements

Submitting form

Firm A to firm B

The FCA will consider A to have taken reasonable care if it enters into a contract with B under which B is responsible for ensuring that the relevant FCA controlled functions are performed by FCA-approved persons, and that it is reasonable for A to rely on this

Firm B submits FCA-approved persons forms on behalf of firm A

Outsourcing by A to B (both being a member of the same United Kingdom group and each having its registered office in the United Kingdom)

See SUP 10A.3.4 G

See SUP 15.7.8 G

(i) A to B, where B is a non-authorised person not part of the same group as A

(ii) A to B, where A is a branch of an overseas firm in the United Kingdom, and B is an overseas undertaking of the same group

(iii) A to B, where A is a UK authorised subsidiary of an overseas firm and B is an overseas undertaking of the same group

Responsibility for (as opposed to the performance of) any activity outsourced to B will remain with A. See SYSC 3.2.4 G and SYSC 8

A ensures that an individual approved by the FCA or the PRA under a controlled function that is a significant-influence function has responsibility for the outsourced arrangement and A submits a form in relation to that individual
SYSC 6.2.2GRP
1The term 'internal audit function' in SYSC 6.2.1 R (and SYSC 4.1.11 G) refers to the generally understood concept of internal audit within a firm, that is, the function of assessing adherence to and the effectiveness of internal systems and controls, procedures and policies.The internal audit function is not a controlled function itself, but is part of the systems and controls function (CF28).42
COBS 21.3.14GRP
4Firms are also required to comply with the PRA Rulebook Solvency II Firms Investment and ensure that the use of derivative contracts is adequately covered. Firms are also referred to the rules in COLL 5.3 (Derivative Exposure) in relation to the use of derivatives in investment funds and the further guidance from CESR and its successor body, ESMA, which represent good practice in this area.
APER 2.1A.3PRP

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

firm

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

firm

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

firm

for which he is responsible in his accountable function complies with the relevant requirements and standards of the regulatory system.
FEES 3.1.8AGRP
Application fees for applications for and variations of Part 4A permission in respect of credit-related regulated activities are also set out in FEES 3 Annex 1F. Applications for Part 4A permission in respect of credit-related regulated activities are categorised by the 9FCA for the purposes of fee raising as straightforward, moderately complex and complex as identified in FEES 3 Annex 1, unless the application is for a limited permission.799[Note: PRA-authorised persons may also
PERG 1.2.1GRP
(1) The Financial Services and Markets Act 2000 (the Act) is the UK legislation under which bodies corporate, partnerships, individuals and unincorporated associations are permitted by the FCA or PRA to carry on various financial activities which are subject to regulation (referred to as regulated activities).(2) The activities which are regulated activities are specified in the Financial Services and Markets Act 2000 (Regulated Activities) Order 2001 (the Regulated Activities
CONC 3.3.6GRP
If a communication or a financial promotion names the FCA, PRA or both as the regulator of a firm and refers to matters not regulated by the FCA, PRA or both, the firm should ensure that the communication or financial promotion makes clear that those matters are not regulated by the FCA, PRA or both.
BIPRU 9.11.2RRP

Table:

This table belongs to BIPRU 9.11.1 R

2

Credit Quality step

1

2

3

4 (only for credit assessments other than short-term credit assessments)2

All other credit quality steps2

2

Securitisation positions2

2

20%

50%

100%

350%

1250%2

2Resecuritisation positions

40%

100%

225%

650%

1250%

[Note: For mapping of the credit quality step to the credit assessments of eligible ECAIs, refer to: http://www.fca.org.uk/your-fca/documents/fsa-ecais-securitisation for the FCA and http://www.bankofengland.co.uk/pra/Documents/publications/ss/2013/ss913.pdf for the PRA]

[Note: BCD, Annex IX, Part 4, point 6, Table 1]2

EG 7.1.3RP
3Section 415B of the Act requires the FCA to consult with the PRA before it takes certain enforcement action in relation to a PRA-authorised person or someone who has a qualifying relationship (as defined in section 415B(4) of the Act) with a PRA-authorised person. Further detail on when the FCA is required to consult the PRA, and when it has agreed to notify the PRA of certain matters, is set out in the Memorandum of Understanding between the PRA and the FCA.
SUP 10A.12.2GRP

Table: FCA-approved persons forms

Form

Purpose

Handbook requirement

the relevant Form A

The relevant online form on the FCA and PRA'sONA1system or the form in SUP 10A Annex 4D (See Note)

1

Application to perform controlled functions under the approved persons regime

SUP 10A.13.3 D

Form B

SUP 10A Annex 5R

Notice to withdraw an application to perform controlled functions under the approved persons regime

SUP 10A.13.19 R

Form C

SUP 10A Annex 6R

Notice of ceasing to perform controlled functions

SUP 10A.14.8 R

Form D

SUP 10A Annex 7R

Notification of changes in personal information or application details

SUP 10A.14.15 R

Form E

The relevant online form on the FCA and PRA'sONA1system or the form in SUP 10A Annex 8D (See Note)

1

Internal transfer of an approved person

SUP 10A.14.4 D

Note: The form in the SUP annex shown is to be used by credit unions, and by other firms only in the event of a failure of the information technology systems used by the FCA. See the relevant "Handbook requirement"
INSPRU 7.1.91GRP
In assessing the adequacy of a firm'scapital resources, the appropriate regulator draws on more than just a review of the submitted ICA. Use is made of wider supervisory knowledge of a firm and of wider market developments and practices. When forming a view of any individual capital guidance to be given to a firm, the review of the firm'sICA along with the regulator’s risk assessment and any other issues arising from day-to-day supervision will be considered.
SUP 13.4.4AGRP
20Where the PRA is the appropriate UK regulator, it will consult the FCA before deciding whether to give a consent notice and where the FCA is the appropriate UK regulator, it will consult the PRA before deciding whether to give a consent notice in relation to a UK firm whose immediate group includes a PRA-authorised person.
SYSC 6.1.4-AGRP
6In setting the method of determining the remuneration of relevant persons involved in the compliance function:1111(1) firms that SYSC 19A applies to will also need to comply with the Remuneration Code; 1114(2) 11BIPRU firms7 will also need to comply with the BIPRU11Remuneration Code;(3) firms that SYSC 19D applies to will also need to comply with the dual-regulated firms Remuneration Code; and(4) firms that the remuneration part of the PRA Rulebook applies to will also need to
INSPRU 3.1.26RRP
Where the assets of a firm invested in a significant territory of a kind referred to in INSPRU 3.1.23R (1), INSPRU 3.1.23R (2) or INSPRU 3.1.23R (3)(a) represent less than 0.5% of the firm'slong-term insurance assets (excluding assets held to cover index-linked liabilities or property-linked liabilities), measured by market value, the firm may assume for those assets the market risk scenario for assets of that kind invested in the United Kingdom set out in INSPRU 3.1.16 R instead
SUP 18.4.1AGRP
2In general, although the legislation governing transfers of engagements involves friendly societies is the Friendly Societies Act 1992, similar issues arise in these transfers as in insurance business transfers under Part VII of the Act and so the regulators would expect firms to be subject to a similar process followed under the Act. Accordingly, firms should usually first discuss the procedural aspects for dealing with friendly society transfers and amalgamations with the PRA.