Related provisions for CONC 8.7.7
301 - 320 of 589 items.
1A firm must make an adequate record of each non-real time financial promotion of qualifying credit, home reversion plan or regulated sale and rent back agreement which it has confirmed as complying with the rules in this chapter. The record must be retained for a year from the date at which the financial promotion was last communicated.
The purpose of this chapter is to establish the requirements for the proper calculation of the APR. As a cost measure which facilitates comparisons between similar mortgages offered on a similar basis, the APR is an integral element of the rules relating to financial promotions of qualifying credit1 and disclosure.1
1A firm must make appropriate records to demonstrate compliance with the rules in this sourcebook and keep them for the following periods after an employee stops carrying on the activity:(1) at least 5 years for MiFID business;(2) 3 years for non-MiFID business; and(3) indefinitely for a pension transfer specialist.[Note: article 9(4) of the MCD]2
1The FCA may be alerted to possible contraventions or breaches by complaints from the public or firms, by referrals from other authorities or through its own enquiries and supervisory activities. Firms may also bring their own contraventions to the FCA's attention, as they are obliged to do under Principle 11 of the Principles for Businesses and rules in the FCA's Supervision manual.
The rules and guidance in this chapter are in addition to the provisions of (in relation to Great Britain credit unions)2section 11 of the Credit Unions Act 1979 and (in relation to Northern Ireland credit unions) article 28 of the Credit Unions (Northern Ireland) Order 19852 in relation to loans made by credit unions. Under these provisions (1) a Great Britain credit union may make a loan only to:22(a) a member of the credit union who is an individual; and(b) a corporate member
1This chapter applies as follows:22(1) CASS 9.2 and CASS 9.3 apply to a prime brokerage firm2to which CASS 6 (Custody rules) applies;2(2) subject to (3) and (4), CASS 9.4 and CASS 9.5 apply 2to a firm to which either or both CASS 6 (Custody rules) and CASS 7 (Client money rules) applies; 232(3) 2CASS 9.4 and CASS 9.5 do 2not apply to a firm which only arranges safeguarding and administration of assets.2(4) 2for a firm to which CASS 7 (client money rules) applies as well as either
The FCA3 expects to have an open, cooperative and constructive relationship with UK recognised bodies to enable it to have a broad picture of the UK recognised body's activities and its ability to meet the recognised body requirements.2 This broad picture is intended to complement the information which the FCA3 will obtain under section 293 of the Act (Notification requirements) or under notification rules made under that section (see REC 3). The FCA3 will usually arrange meetings
1When it decides whether to exercise its power to disqualify an auditor or actuary under section 345(1), and what the scope of any disqualification will be, the FCA will take into account all the circumstances of the case. These may include, but are not limited to, the following factors: (1) the nature and seriousness of any breach of rules and the effect of that breach: the rules are set out in SUP 3 (Auditors) and SUP 4 (Actuaries), and in the case of firms which are ICVCs,
A credit union must not accept deposits except:(1) by way of subscription for its shares from persons who may lawfully be admitted to membership of the credit union under the Credit Unions Act 1979 or the Credit Union (Northern Ireland) Order 1985 (as appropriate) and the rules of the credit union; or(2) from persons too young to be members under any provision of the credit union’s rules or (for Northern Ireland credit unions) under article 15 of the Credit Unions (Northern Ireland)
This chapter contains rules applicable
to a listed company that:(1) purchases its own equity shares; or(2) purchases its own securities other than equity
shares; or(3) sells or transfers treasury shares; or(4) purchases or redeems its own securities during a prohibited
period; or(5) purchases its own securities from a related
party.
(1) This chapter sets out rules governing the amounts payable by
FOS Ltd to the FCA to
fund the FCA’s functions under the ADR
Regulations.(2) These rules are made
using the rule-making power in paragraph 23 (Fees) Schedule 1ZA of the Act, as
applied with modifications by Regulation 15A of the ADR
Regulations.
Where any key individual of a UK recognised body:(1) is the subject of any disciplinary action because of concerns about his alleged misconduct; (2) resigns as a result of an investigation into his alleged misconduct; or(3) is dismissed for misconduct;that body must immediately give the FCA1 notice of that event, and give the information specified for the purposes of this rule in REC 3.5.2 R.1
1When deciding whether or not to disqualify an auditor under section 249(1) or section 261K(1) of the Act (concerning the power to disqualify an auditor for breach of trust scheme
rules or contractual scheme rules), and in setting the disqualification, the FCA will take into account all the circumstances of the case. These may include, but are not limited to, the following circumstances: (1) the effect of the auditor's breach of a duty imposed by trust scheme
(1) This chapter applies to every firm. GEN 1.3 (Emergency) also applies to an unauthorised person to whom a rule in the Handbook applies.1(2) For a UCITS qualifier, this chapter applies only with respect to the communication and approval of financial promotions to whichCOBS 4 (Communicating with clients, including financial promotion)3 applies and to the maintenance of facilities to which COLL 9.4 (Facilities in the United Kingdom) applies3.233
1On its web site, the FCA has given anonymous examples of where it has decided not to investigate or take enforcement action in relation to a possible rule
breach because of the way in which the firm has conducted itself when putting the matter right. This is part of an article entitled ‘The benefits to firms and individuals of co-operating with the FCA’. However, in those cases where enforcement action is not taken and/or a formal investigation is not commenced,