Related provisions for PERG 8.17.4

MIPRU 4.3.7AR21/03/2016

2In the calculation of the capital resources of a firm that carries on any home finance administration activity, the annual income does not include annual income from:3(1) second charge regulated mortgage contracts; or3(2) legacy CCA mortgage contracts.3

PERG 4.16.4G01/07/2005

If an unauthorised SPV arranges for an authorised person with permission to administer a regulated mortgage contract to administer its regulated mortgage contracts, it can avoid carrying on the regulated activities of:(1) administering a regulated mortgage contract, because of the exclusion in article 62 of the Regulated Activities Order (described in PERG 4.8.4 G);(2) arranging (bringing about) or making arrangements with a view to regulated mortgage contracts, because any arrangements

PERG 4.12.3G01/07/2005

An appointed representative can carry on only those regulated activities which are specified in the Appointed Representatives Regulations. As respects regulated mortgage contracts, these are arranging (bringing about), making arrangements with a view to and advising on regulated mortgage contracts (as well as agreeing to do so).

CONC 15.1.2G21/03/2016

Firms which carry on consumer credit lending or credit broking should comply with all rules which apply to that regulated activity in CONC and other parts of the Handbook. For example, CONC 7 applies to matters concerning arrears, default and recovery (including repossession) and applies generally, including to agreements to which this chapter applies. This chapter sets out specific additional requirements and guidance that apply in relation to credit agreements secured on land

PERG 8.36.3G01/04/2014

Table Controlled activities

1.	Accepting deposits
2.	Effecting and carrying out contracts of insurance
3.	Dealing in securities and contractually based investments
4.	Arranging deals in investments
4A.4	Operating a multilateral trading facility4 10
104B.	Credit broking
104C.	Operating an electronic system in relation to lending
5.	Managing investments10
105A.	Debt adjusting
105B.	Debt counselling
6.	Safeguarding and administering investments
7.	Advising on investments
8.	Advising on syndicate participation at Lloyd's
9.	Providing funeral plan contracts
10.	Providing qualifying credit
11.3 3	Arranging qualifying credit etc
12.3 3	Advising on qualifying credit etc10
1012A.	Providing relevant consumer credit
1012B.	Providing consumer hire
313.	Providing a home reversion plan
314.	Arranging a home reversion plan
315.	Advising on a home reversion plan
316.	Providing a home purchase plan
317.	Arranging a home purchase plan
318.	Advising on a home purchase plan
718A.	Providing a regulated sale and rent back agreement
718B.	Arranging a regulated sale and rent back agreement
718C.	Advising on a regulated sale and rent back agreement
19.3 3	Agreeing to do anything in 3 to 18C7 above 3 7

TC App 1.1.1R21/03/2016

1Activity	Products/Sectors		Is there an appropriate qualification4requirement? 4
Designated investment business carried on for a retail client
Providing basic advice	1.	Stakeholder products excluding a deposit-based stakeholder product	No
Advising	2.	Securities which are not stakeholder pension schemes, personal pension schemes 7 or broker funds	Yes
	3.	Derivatives	Yes2
	4.	Packaged products 6 Retail investment products 6 which are not broker funds	Yes2
	5.	Friendly Society life policies where the employee is not reasonably expected to receive a remuneration of greater than £1000 a year in respect of such sales	No2
	6.	Friendly Society tax-exempt policies (other than Holloway sickness policies where the Holloway policy special application conditions are met)5	Yes2
	7.	Long-term care insurance contracts	Yes2
	8.	Investments in the course of corporate finance business	Yes2
	9.	Advising on syndicate participation at Lloyd's	Yes2
Undertaking the activity in column 2	10.	Broker fund adviser	Yes
Undertaking the activity in column 2	11.	Pension transfer specialist	Yes2
Advising and dealing	12.	Securities which are not stakeholder pension schemes, personal pension schemes 7 or broker funds	Yes
Advising and dealing	13.	Derivatives	Yes2
4Dealing	13A.8	Securities which are not stakeholder pension schemes, personal pension schemes 7 or broker funds	No
4Dealing	413B.8	Derivatives	No
8 MiFID business bidding	13C.	Emissions auction products that are financial instruments	No
Managing	14.	Investments	Yes
Overseeing on a day-to-day basis	15.	Operating a collective investment scheme or undertaking the activities of a trustee or depositary of a collective investment scheme	Yes
	16.	Safeguarding and administering investments or holding client money	Yes2
	17.	Administrative functions in relation to managing investments	Yes2
	18.	Administrative functions in relation to effecting or carrying out contracts of insurance which are life policies	Yes2
	19.	Administrative functions in relation to the operation of stakeholder pension schemes	Yes2
Mortgage Activity10 and reversion activity carried on for a customer 10
9 10Advising; arranging (bringing about) an execution-only sale, excluding variations to an existing home finance transaction except where the effect is to change all or part of the home finance transaction from one interest rate to another. See Note 3, which for the avoidance of doubt forms part of this rule.	20	Regulated mortgage contracts for a non-business purpose	Yes
	20A	Regulated mortgage contracts for a business purpose	No
	21	Equity release transactions	Yes
9Designing scripted questions for execution-only sales	21A	Regulated mortgage contracts for a non-business purpose	Yes
	21B	Regulated mortgage contracts for a business purpose	No
	22	Equity release transactions	Yes
Overseeing execution-only sales on a day-to-day basis9 9	23.	Equity release transactions	Yes
11 MCD credit agreement activities carried on for consumers
11manufacturing	23A	an MCD credit agreement	No
11 entering into a regulated mortgage contract or entering into a regulated credit agreement as lender	23B	an MCD credit agreement	No
11 arranging (bringing about) regulated mortgage contracts or acting as an MCD credit broker	23C	an MCD credit agreement	No
11 advising on a regulated mortgage contract or advising on a regulated credit agreement for the acquisition of land	23D	an MCD credit agreement	No
11directly managing or supervising employees who carry on any of the MCD credit agreement activities 23A to 23D	23E	an MCD credit agreement	No
[Note: article 9(1) of the MCD]11
Non-investment insurance business carried on for a consumer
Advising	24.	Non-investment insurance contracts	No
3 Regulated sale and rent back activity carried on for a customer
Advising	25.	Regulated sale and rent back agreements	No
Overseeing an execution-only sale 10 on a day-to-day basis 10	26.	Regulated sale and rent back agreements	No
Notes:
1.	In the Appendix the heading and types of business specified in the headings are to be read in conjunction with the paragraphs appearing beneath them.
2.	Thus, for example, paragraph 24consistent with the heading above it3, refers only to advice on non-investment insurance contracts given to a consumer.10 3
103.	For the purpose of product numbers 20, 20A and 21 the activity of arranging (bringing about) referred to in the activity column: (a) includes activity which would be arranging (bringing about) but for the exclusion in article 28A of the Regulated Activities Order; and (b) does not include activities which taken on their own would not fall within the definition of that activity. For these purposes no account should be taken of the fact that for an activity to be a regulated activity it must be carried on by way of business (see PERG 4.3).
4.	In this Appendix, paragraphs 23A, 23B, 23C, 23D and 23E relate to the implementation of article 9(1) of the MCD. The specified activities do not, in and of themselves, attract a qualification requirement. However, where those activities overlap with those specified under the heading "mortgage activity and reversion activity carried on for a customer", qualification requirements may apply.

Related provisions for PERG 8.17.4

Search Term(s)

Filter by Topics

Filter by Modules

Filter by Documents

Filter by Keywords

Effective Period

Similar To