Related provisions for GENPRU 2.2.117B
161 - 180 of 199 items.
(1) In assessing whether a penalty would cause an individual serious financial hardship, the FCA3 will consider the individual’s ability to pay the penalty over a reasonable period (normally no greater than three years). The FCA's3 starting point is that an individual will suffer serious financial hardship only if during that period his net annual income will fall below £14,000 and his capital will fall below £16,000 as a result of payment of the penalty. Unless the FCA3 believes
A firm must calculate the net position in each currency other than the settlement currency of the master netting agreement by subtracting from the total value of securities denominated in that currency lent, sold or provided under the master netting agreement added to the amount of cash in that currency lent or transferred under the agreement, the total value of securities denominated in that currency borrowed, purchased or received under the agreement added to the amount of cash
(1) If a firm was, immediately before commencement permitted to treat "relevant funds" as part of its capital resources under the financial resource rules of a previous regulator applicable to the firm, it may treat those funds in an equivalent manner under the corresponding provisions of IPRU-INV, provided that the conditions in (3) are met.(2) For the purposes of this rule "relevant funds" are funds provided to the firm under the terms of(a) a subordinated loan agreement;
For hybrid pools of purchased retail exposure receivables where the purchasing firm cannot separate exposures secured by real estate collateral and qualifying revolving retail exposures from other retail exposures, the retail risk weight2 function producing the highest capital requirements for those exposures must apply.[Note: BCD Annex VII Part 1 point 16]
In negotiating its contract with a service provider, a firm should have regard to:(1) reporting or notification requirements it may wish to impose on the service provider;(2) whether sufficient access will be available to its internal auditors, external auditors or actuaries (see section 341 of the Act) and to the FCA2 (see SUP 2.3.5 R (Access to premises) and SUP 2.3.7 R (Suppliers under material outsourcing arrangements);(3) information ownership rights, confidentiality
The Treasury have made the following exemptions from the obligations under section 178 of the Act10:(1) controllers and potential controllers of non-directive friendly societiesare exempt from the obligation to notify a change in control (The Financial Services and Markets Act 2000 (Controllers) (Exemption) Order 2009 (SI 2009/77410));10(2) controllers and potential controllers of building societies are exempt from the obligation to notify a change in control unless the change
3In assessing whether the voting rights attaching to different classes of
premium listedshares are proportionate for the purposes of Premium Listing Principle 4, the FCA will have regard to the following non-exhaustive list of factors:(1) the extent to which the rights of the classes differ other than their voting rights, for example with regard to dividend rights or entitlement to any surplus capital on winding up;(2) the extent of dispersion and relative liquidity of the classes;
13In order to assist in the establishment of sound remuneration policies and practices, the risk committee must, without prejudice to the tasks of the remuneration committee, examine whether incentives provided by the remuneration system take into consideration risk, capital, liquidity and the likelihood and timing of earnings.[Note: article 76(4) of CRD]
A listed company must notify a RIS as soon as possible (unless otherwise indicated in this rule) of the following information relating to its capital:(1) any proposed change in its capital structure including the structure of its listeddebt securities, save that an announcement of a new issue may be delayed while marketing or underwriting is in progress;(2) [deleted]11(3) any redemption of listedshares including details of the number of shares redeemed and the number of shares
If a firm is unable to provide assurance with regard to a particular option type which is currently within its permissions, a capital add-on may be applied and a rectification plan agreed. If a firm is unable to comply with the rectification plan within the mandated time-frame, further supervisory measures may be taken. This may include variation of a firm's Part 4A permission so that it is no longer allowed to trade those particular types of options for which it does not meet
(1) The BIPRU 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) In particular, in relation to remuneration matters, such circumstances should take into account unregulated activities as well as regulated activities and the activities
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
A feeder UCITS may hold up to 15% in value of the scheme property in one or more of the following:(1) cash or near cash in accordance with COLL 5.5.3 R (Cash and near cash);(2) derivatives and forward transactions which may be used only for the purposes of hedging and in accordance with the rules set out at COLL 5.8.7 R (Other provisions applicable to a feeder UCITS); and(3) (for an ICVC) movable and immovable property which is essential for the direct pursuit of the business.[Note:
(1) This provision contains guidance on the requirement in BIPRU 9.11.6 R (1) that the composition of the pool of exposuressecuritised must be known at all times.(2) The composition should be known sufficiently at the time of purchase for the firm to be able accurately to calculate the risk weighted exposure amounts of the pool under the standardised approach.(3) Thereafter, any change to the composition of the pool during the life of the transaction that would lead to an increase
(1) Dealing on own account means (for the purpose of GENPRU and BIPRU) the service of dealing in any financial instruments for own account as referred to in point 3 of Section A of Annex I to MiFID, subject to (2) and (3).99(2) In accordance with article 5(2) of the Capital Adequacy Directive (Definition of dealing on own account), a CAD investment firm that executes investors' orders for financial instruments and holds such financial instruments for its own account does not for
Location of recognition requirements and guidance
Recognition Requirements Regulations |
Subject |
Section in REC 2 |
Regulation 6 |
Method of satisfying recognition requirements |
2.2 |
Part I of the Schedule |
UK RIE recognition requirements |
|
Paragraph 1 |
Financial resources |
2.3 |
Paragraph 2 |
Suitability |
2.4 |
Paragraph 3 |
Systems and controls |
2.5 |
Paragraphs 4(1) and 4(2)(aa)2 2 |
General safeguards for investors |
2.6 |
Paragraph 4(2)(a) |
Access to facilities |
2.7 |
Paragraph 4(2)(b) |
Proper markets |
2.12 |
Paragraph 4(2)(c) |
Availability of relevant information |
2.12 |
Paragraph 4(2)(d) |
Settlement |
2.8 |
Paragraph 4(2)(e) |
Transaction recording |
2.9 |
2Paragraph 4(2)(ea) |
Conflicts |
2.5 |
Paragraph 4(2)(f) |
Financial crime and market abuse |
2.10 |
Paragraph 4(2)(g) |
Custody |
2.11 |
Paragraph 4(3) |
Definition of relevant information |
2.12 |
2Paragraph 4A |
Provision of pre-trade information about share trading |
2.6 |
2Paragraph 4B |
Provision of post-trade information about share trading |
2.6 |
Paragraph 6 |
Promotion and maintenance of standards |
2.13 |
Paragraph 7 |
Rules and consultation |
2.14 |
2Paragraph 7A |
Admission of financial instruments to trading |
2.12 |
2Paragraph 7B and 7C |
Access to facilities |
2.7 |
2Paragraph 7D |
Settlement |
2.8 |
2Paragraph 7E |
Suspension and removal of financial instruments from trading |
2.6 |
Paragraph 8 |
Discipline |
2.15 |
Paragraph 9 |
Complaints |
2.16 |
2Paragraph 9A |
Operation of a multilateral trading facility |
2.16A |
Part II of the Schedule |
UK RIE default rules in respect of market contracts |
2.174 |