Related provisions for SUP 15.7.5A

FEES 4.4.9D01/04/2013

3To the extent that a firm4 has provided the information required by FEES 4.4.7 D to the FCA as part of its compliance with another provision of the Handbook, it is deemed to have complied with the provisions of that direction.444

SUP 10C.14.24G07/03/2016

Table: Explanation of the sections of the Act mentioned in SUP 10C.12.22G

1Section	Summary of relevant parts	Other Handbook material	Comments
Section 63(2A) (Duty to notify regulator of grounds for withdrawal of approval)	At least once a year, each firm must, in relation to every SMF manager for whom an approval has been given on the application of that firm: (a) consider whether there are any grounds on which the FCA could withdraw the approval; and (b) if the firm is of the opinion that there are such grounds, notify the FCA of those grounds.		FIT sets out guidance on the factors a firm should take into account when assessing the fitness and propriety of an approved person.
2	2	2
Section 64C of the Act (Requirement for relevant authorised persons to notify regulator of disciplinary action)	If: (a) a firm takes disciplinary action in relation to an SMF manager; and (b) the reason, or one of the reasons, for taking that action is a reason specified in SUP 15.11.6R; the firm should notify the FCA of that fact.	SUP 15.11 (Notification of COCON breaches and disciplinary action)	An example of when a notification should be made using Form C rather than Form D is when a firm is required to notify the FCA under section 64C of the Act that it has dismissed an SMF manager.

SUP 15.7.6AG01/04/2013

7The current published address of the FCA for postal submission or hand delivery of notifications is:

(1)

The Financial Conduct Authority

25 The North Colonnade London

Canary Wharf

E14 5HS

if the firm's usual supervisory contact at the FCA is based in London, or
(2)

The Financial Conduct Authority

Quayside House 127

Fountainbridge

Edinburgh EH3 8DJ

if the firm's usual supervisory contact at the FCA is based in Edinburgh.7

SUP 15.13.7G21/03/2016

The MCD Order requires notification to be given immediately. The FCA expects CBTL firms to act with all due urgency in notifying it of any relevant event, and it is unlikely that the FCA will regard delay in excess of 5 working days as complying with the CBTL firm's obligations.

REC 3.2.3R01/04/2013

Methods of notification

Method of delivery
(1)	Post to the address in REC 3.2.4 R
(2)	Leaving the notification at the address in REC 3.2.4 R and obtaining a time-stamped receipt
(3)	Electronic mail to an address for the recognised body's usual supervisory contact at the FCA 1 and obtaining an electronic confirmation of receipt 1
(4)	Hand delivery to the recognised body's usual supervisory contact at the FCA 1 1
(5)	Fax to a fax number for the recognised body's usual supervisory contact at the FCA,1provided that the FCA 1 receives a copy of the notification by one of methods (1) - (4) in this table within five business days after the date of the faxed notification 1 1

SUP 10A.17.2G01/04/2013

If the firm or its advisers have further questions, they should contact the FCA's Contact Centre (see SUP 10A.12.6 G).

FEES 4.2.11R03/07/2016

Table of periodic fees payable to the FCA 65

65

1 Fee payer	2 Fee payable	3 Due date	4 Events occurring during the period leading to modified periodic fee
Any firm (except an AIFM qualifier,25 ICVC or a UCITS qualifier)	(1) Unless (2) applies, as37 specified in FEES 4.3.1 R in relation to FEES 4 Annex 2AR and FEES 4 Annex 11 R65.37 (2) Where a firm is paying a ring-fencing implementation fee, as specified in FEES 4 Annex 2BR.37	(1) Unless (2) or (3) apply7, on or before the relevant dates specified in FEES 4.3.6 R.12 (2) Unless (3) applies, if 7an event specified in column 4 occurs during the course of a fee year,64 30 days after the occurrence of that event, or if later the dates specified in FEES 4.3.6 R.7 (3) Where the permission is for operating a multilateral trading facility, the date specified in FEES 4 Annex 10 (Periodic fees for MTF operators). 7 7 64	Firm receives permission, or becomes authorised or registered under the Payment Services Regulations, article 8 of the MCD Order 32 or the Electronic Money Regulations 12;9 or firm 9extends permission or its payment service activities9 16 67 9
Persons who hold a certificate issued by the FCA 64 under article 54 of the Regulated Activities Order (Advice given in newspapers etc.) 64	£1,08431 31	(1) Unless (2) applies, on or before 1 August or, if later, within 30 days of the date of the invoice23 (2) If an event in column 4 occurs during the course of a fee year,64 30 days after the occurrence of that event 23 64	Certificate issued to person by FCA 64 under Article 54 RAO 64
Any manager of an AUT 23; 23	In relation to each unit trust the amount specified in part 1 of 25FEES 4 Annex 4		Authorisation order is made in relation to the relevant scheme 24
24Any authorised fund manager of an authorised contractual scheme;	In relation to each authorised contractual scheme the amount specified in part 1 of25FEES 4 Annex 4
Any ACD of an ICVC; and	In relation to each ICVC,25 the amount specified in part 1 of25FEES 4 Annex 4
Persons who, under the constitution or founding arrangements of a recognised scheme, are 33responsible for the management of the property held for or within the scheme;	In relation to each recognised scheme the amount specified in part 1 of25FEES 4 Annex 4	The relevant scheme becomes a recognised scheme 25
		The relevant scheme becomes a recognised scheme 25	Not applicable
AIFM of a UK ELTIF 33	In relation to each ELTIF the amount specified in part 1 of FEES 4 Annex 433	(1) Unless (2) applies, on or before 1 August or, if later, within 30 days of the date of the invoice.33 (2) If an event in column 4 occurs during the course of a fee year, 30 days after the occurrence of that event.33	The ELTIF is authorised by the FCA under the ELTIF regulation 33
Designated professional body	FEES 4 Annex 5	On or before the relevant dates specified in FEES 4.3.6 R23 23	Not applicable
UK recognised body	FEES 4 Annex 6, part 1 for a UK RIE ; and FEES 4 Annex 6 R, part 1A for a UK RIE that is also an RAP 13 65	(1) On or before the relevant dates specified in FEES 4.3.6 R23 (2) If the event in column 4 occurs during the course of a fee year 64, 30 days after the occurrence of that event 23 64	Recognition order is made. The modified11 66 periodic fee is specified in FEES 4 Annex 6 R, Part 1and (in the case of an RAP) Part 1A.13 11 66 11 66 11 66 11 66 11 66
ROIE 65 65	FEES 4 Annex 6, part 2	(1) On or before the relevant dates specified in FEES 4.3.6 R23 (2) If the event in column 4 occurs during the course of a fee year 64, 30 days after the occurrence of that event. 23 64	Recognition order is made. The modified11 66 periodic fee is specified in FEES 4 Annex 6, Part 2.11 66 11 66 11 66 11 66 11 66
A listed issuer 35 (in LR) of shares and certificates representing certain securities 35. 3 3	FEES 4 Annex 14R35	Within 30 days of the date of the invoice	Listed issuer 3 (in LR) becomes subject to listing rules 3
A sponsor 35	FEES 4 Annex 14R35 31 10 12 23 23 31 12 10 2 31	Within 30 days of the date of the invoice	35Approval of a35 sponsor 35 14 14 14
All non-listed issuers (in DTR) of shares and certificates representing certain securities 35. 6 6	FEES 4 Annex 14R35 29	Within 30 days of the date of the invoice	Non-listed issuer (in DTR) becomes subject to disclosure requirements 36 and transparency rules 6 29
29Any primary information provider	FEES 4 Annex 14R35	Within 30 days of the date of the invoice	A person is approved as a primary information provider
6All firms reporting transactions in securities derivatives 10to the FCA 64 in accordance with SUP 17, and market operators who provide facilities for trading in securities derivatives.10 64 10	FEES 4 Annex 9 R	Within 30 days of the date of the invoice	Not applicable
15Any issuer of a regulated covered bond.	FEES 4 Annex 11R	(1) Unless (2) applies, on or before the relevant dates specified in FEES 4.3.6 R (2) If an event specified in column 4 occurs during the course of a fee year 64, 30 days after the occurrence of that event or, if later, the dates specified in FEES 4.3.6 R 64	A person becomes registered as an issuer of a regulated covered bond
26(i) An AIFM (other than a UK AIFM or an EEA AIFM with a branch in the UK) which has notified the FCA of its intention to market an AIF in the UK under regulation 57 of the AIFMD UK regulation and which has not ceased to market that AIF in the UK as at 1 April of the current fee year. (ii) An AIFM which has notified the FCA of its intention to market an AIF in the UK under regulation 58 or 59 of the AIFMD UK regulation and which has not ceased to market that AIF in the UK as at 1 April of the current fee year.	For each notification made by the AIFM of the kind specified in part 2 of FEES 4 Annex 4, the amount specified in part 2 of FEES 4 Annex 4	(1) Unless (2) applies, on or before 1 August, or, if later, within 30 days of the date of the invoice (2) If an event in column 4 occurs during the course of a financial year, 30 days after the occurrence of that event	The FCA receives a notification to market in the UK
26A small registered UK AIFM	The basic fee contained in part 3 of FEES 4 Annex 4		The AIFM is registered by the FCA under regulation 10 of the AIFMD UK regulation.
30Each of the following that makes transaction reports directly to the FCA under SUP 17 (Transaction reporting): (1) a firm; (2) a third party acting on a firm's behalf; (3) an approved reporting mechanism; (4) an operator of a regulated market; and (5) an operator of an MTF.	FEES 4 Annex 3A	Within 30 days of the date of the invoice	The FCA enters into arrangements with the fee payer under which it can make transaction reports directly to the FCA

Note:Sponsors on the list of approved sponsors as at 1 April each year will be liable for the full year's annual fee unless FEES 4.3.13 R applies.2

SUP 10C.15.3G07/03/2016

Table: FCA approved persons forms and other documents

1Form or other document		Purpose	Handbook requirement
the relevant Form A	SUP 10C Annex 2D	Application to perform designated senior management functions under the approved persons regime	SUP 10C.10.8D
Form B	SUP 10A Annex 5R	Notice to withdraw an application to perform controlled functions under the approved persons regime	SUP 10C.10.36R
Form B	SUP 10A Annex 5R	Notice to withdraw an application to vary an approval under the senior management regime for SMF managers	SUP 10C.13.15R
Form C	SUP 10A Annex 6R	Notice of ceasing to perform controlled functions	SUP 10C.14.5R
Form D	SUP 10A Annex 7R	Notification of changes in personal information or application details or functions	SUP 10C.14.13R
			SUP 10C.14.15R
		Notification about fitness or of breach of conduct rules	SUP 10C.14.18R
		Notification about fitness or of breach of conduct rules	SUP 10C.14.22R
Form E	SUP 10C Annex 3D	Internal transfer of an approved person	SUP 10C.10.9D
Form I	SUP 10C Annex 4D	Application to vary a conditional approval under the senior management regime for SMF managers	SUP 10C.13.6D
Form J	SUP 10C Annex 6D	Notification of significant change to a statement of responsibilities	SUP 10C.11
Relevant3 statement of responsibilities 2	SUP 10C Annex 5D		SUP 10C.11
Note: Some of the forms are also used in SUP 10A, which deals with the approved persons regime for firms that are not relevant authorised persons. Therefore: (1) where column three refers to the approved persons regime, that includes the senior management regime for SMF managers in this chapter, as well as the regime in SUP 10A for approved persons in firms that are not relevant authorised persons; (2) where column three refers to approved persons, that includes SMF managers in this chapter as well as other approved persons in SUP 10A

SUP 10C.11.19G07/03/2016

Table: examples of how the requirements for submitting statements of responsibilities work

1Example	Comments
(1) A firm applies for approval for A to perform the executive director function and the money laundering function.	There should be a single statement of responsibilities document that covers the two functions. The combined document should be included with the application for approval.
(2) Firm X applies for approval for A to perform the executive director function. Firm Y applies for approval for A to perform the money laundering function. Both firms are relevant authorised persons.	There should be separate statements of responsibilities for each firm. This is the case even if Firm X and Firm Y are in the same group.
(3) A firm applies for approval for A to perform an FCA-designated senior management function and a PRA-designated senior management function. The arrangements in SUP 10C.9 for FCA functions to be absorbed into PRA ones do not apply and so there are separate applications to the FCA and PRA.	The single statement of responsibilities document should cover both the FCA and the PRA functions.
(4) A has approval to perform the executive director function. Later, A is to be appointed to perform the money laundering function for the same firm. This will also result in substantial changes to A’s duties as an executive director.	The firm should not use Form J to notify the changes to A’s duties as an executive director. The firm should submit a revised single statement of responsibilities document along with the application to perform the money laundering function. The single statement of responsibilities document should cover both functions. The part relating to A’s duties as an executive director should be updated.
(5) A has approval to perform the executive director function. Later, A is to be appointed to perform the PRA's chief risk officer designated senior management function for the same firm. This will also result in substantial changes to A’s duties as an executive director.	The firm should not use Form J to notify the changes to A’s duties as an executive director. The firm should submit a revised single statement of responsibilities document along with the application to perform the PRA function. The firm should not submit the revised single statement of responsibilities document separately to the FCA. Instead, it should include it as part of the application to the PRA. The single statement of responsibilities document should cover both the FCA and the PRA functions. The part relating to A’s duties as an executive director should be updated.
(6) A has approval to perform the money laundering function. The approval to perform the money laundering function is subject to a condition. The firm is applying to vary that condition.	The firm should include a revised statement of responsibilities with the application. The firm should not use Form J. It should submit a revised statement of responsibilities along with the application to vary the approval.
(7) A has approval to perform the executive director function and the money laundering function for the same firm. The approval to perform the money laundering function is subject to a condition. The firm is applying to vary that condition. As part of the same arrangements, there are to be substantial changes to A’s job as an executive director.	The firm should not use Form J to notify the changes to A’s duties as an executive director. The firm should submit a revised single statement of responsibilities document along with the application to vary the approval for the money laundering function. The single statement of responsibilities document should be updated and should cover both functions.
(8) A has approval to perform the executive director function and the PRA's chief risk officer designated senior management function for the same firm. The arrangements in SUP 10C.9 for FCA functions to be absorbed into PRA ones do not apply and so there are separate FCA and PRA approvals. The approval to perform the PRA's chief risk officer designated senior management function is subject to a condition. The firm is applying to vary that condition. As part of the same arrangements, there are to be substantial changes to A’s job as an executive director.	The firm should not use Form J to notify the changes to A’s duties as an executive director. The firm should submit a revised single statement of responsibilities document along with the application to vary the PRA function. The firm should not submit the revised document separately to the FCA. Instead it should include it as part of the application to the PRA. The single statement of responsibilities document should cover both the FCA and the PRA functions and should be updated.
(9) A has approval to perform the executive director function and the money laundering function for the same firm. Sometime later, A is to give up the money laundering function and take up the PRA's chief risk officer designated senior management function. This will involve major changes to A’s role as executive director.	The answer to example (5) applies. The application to the PRA to perform the PRA function should be accompanied by a single document that: (1) contains the statement of responsibilities for the new function; (2) contains the revised statement of responsibilities for the executive director function; and (3) reflects the fact that A is no longer performing the money laundering function.
(10) A firm has approval for A to perform the executive director function and the money laundering function. A then ceases to perform the money laundering function but continues to perform the executive director function.	The firm must submit: (a) Form C for the money laundering function; (b) Form J; and (c) a single updated statement of responsibilities document that covers the executive director function.
(11) A has approval to perform the executive director function and the PRA's chief risk officer designated senior management function for the same firm. Later, A gives up his role as chief risk officer.	The firm must submit: (a) Form C for the PRA function; (b) Form J; and (c) a single updated statement of responsibilities document that covers the executive director function. The firm should not submit the revised single statement of responsibilities document separately to the FCA. Instead, it should include it as part of the notification to the PRA.
(12) A has approval to perform the executive director function. Later, A is to be appointed to perform the money laundering function for the same firm. The application is rejected.	The single statement of responsibilities document submitted as part of the application will no longer be correct as it reflects the proposed new approval. If the only changes to the single document in the version sent with the application are ones, clearly and exclusively tied to the new function, the firm will not need to amend the document as the changes will automatically fall away. In any other case (for instance if the application is approved conditionally), it is likely that the firm will need to update it using Form J. In any case, the FCA may contact the firm to agree a revised single statement of responsibilities document.
(13) A has approval to perform the executive director function. Later, A is to be appointed to perform the money laundering function for the same firm. This will not result in any changes to A’s duties as an executive director. However, there have been some insignificant changes to A’s role as an executive director since the firm submitted the most recent single statement of responsibilities document. The changes are not connected to A’s appointment to perform the money laundering function.	The answer for example (4) applies. The single statement of responsibilities document should be updated to cover the changes to A’s duties as executive director, as well as covering A’s new money laundering role. It does not matter that the changes to A’s role as an executive director are not significant.
(14) A has approval to perform the executive director function. Later, A’s business unit grows in size and so the firm needs to apply for A to be approved to perform the PRA's Head of Key Business Area designated senior management function. However, A’s responsibilities do not change.	The firm should submit a revised single statement of responsibilities document along with the application to perform the PRA function. The firm should submit a single statement of responsibilities document that covers both the FCA and the PRA functions. It should not submit the revised single statement of responsibilities document separately to the FCA. Instead, it should include it as part of the application to the PRA.
2(15) Firm X has a branch in the United Kingdom. Firm Y is a UK authorised subsidiary 3 of firm X. Firm X is a third-country relevant authorised person and firm3 Y is a UK relevant authorised person. Both firms apply for approval for the same individual (P) to perform the executive3 director function.	There should be separate statement of responsibilities for P for each firm.
The single statement of responsibilities document means the single document described in SUP 10C.11.13D

1Example

Comments

(1) A firm applies for approval for A to perform the executive director function and the money laundering function.

There should be a single statement of responsibilities document that covers the two functions.

The combined document should be included with the application for approval.

(2) Firm X applies for approval for A to perform the executive director function. Firm Y applies for approval for A to perform the money laundering function. Both firms are relevant authorised persons.

There should be separate statements of responsibilities for each firm.

This is the case even if Firm X and Firm Y are in the same group.

(3) A firm applies for approval for A to perform an FCA-designated senior management function and a PRA-designated senior management function.

The arrangements in SUP 10C.9 for FCA functions to be absorbed into PRA ones do not apply and so there are separate applications to the FCA and PRA.

The single statement of responsibilities document should cover both the FCA and the PRA functions.

(4) A has approval to perform the executive director function. Later, A is to be appointed to perform the money laundering function for the same firm. This will also result in substantial changes to A’s duties as an executive director.

The firm should not use Form J to notify the changes to A’s duties as an executive director.

The firm should submit a revised single statement of responsibilities document along with the application to perform the money laundering function.

The single statement of responsibilities document should cover both functions. The part relating to A’s duties as an executive director should be updated.

(5) A has approval to perform the executive director function. Later, A is to be appointed to perform the PRA's chief risk officer designated senior management function for the same firm. This will also result in substantial changes to A’s duties as an executive director.

The firm should not use Form J to notify the changes to A’s duties as an executive director.

The firm should submit a revised single statement of responsibilities document along with the application to perform the PRA function.

The firm should not submit the revised single statement of responsibilities document separately to the FCA. Instead, it should include it as part of the application to the PRA.

The single statement of responsibilities document should cover both the FCA and the PRA functions. The part relating to A’s duties as an executive director should be updated.

(6) A has approval to perform the money laundering function. The approval to perform the money laundering function is subject to a condition. The firm is applying to vary that condition.

The firm should include a revised statement of responsibilities with the application.

The firm should not use Form J. It should submit a revised statement of responsibilities along with the application to vary the approval.

(7) A has approval to perform the executive director function and the money laundering function for the same firm. The approval to perform the money laundering function is subject to a condition. The firm is applying to vary that condition. As part of the same arrangements, there are to be substantial changes to A’s job as an executive director.

The firm should not use Form J to notify the changes to A’s duties as an executive director.

The firm should submit a revised single statement of responsibilities document along with the application to vary the approval for the money laundering function.

The single statement of responsibilities document should be updated and should cover both functions.

(8) A has approval to perform the executive director function and the PRA's chief risk officer designated senior management function for the same firm. The arrangements in SUP 10C.9 for FCA functions to be absorbed into PRA ones do not apply and so there are separate FCA and PRA approvals.

The approval to perform the PRA's chief risk officer designated senior management function is subject to a condition. The firm is applying to vary that condition. As part of the same arrangements, there are to be substantial changes to A’s job as an executive director.

The firm should not use Form J to notify the changes to A’s duties as an executive director.

The firm should submit a revised single statement of responsibilities document along with the application to vary the PRA function.

The firm should not submit the revised document separately to the FCA. Instead it should include it as part of the application to the PRA.

The single statement of responsibilities document should cover both the FCA and the PRA functions and should be updated.

(9) A has approval to perform the executive director function and the money laundering function for the same firm.

Sometime later, A is to give up the

money laundering function and take up the PRA's chief risk officer designated senior management function. This will involve major changes to A’s role as executive director.

The answer to example (5) applies.

The application to the PRA to perform the PRA function should be accompanied by a single document that:

(1) contains the statement of responsibilities for the new function;

(2) contains the revised statement of responsibilities for the executive director function; and

(3) reflects the fact that A is no longer performing the money laundering function.

(10) A firm has approval for A to perform the executive director function and the money laundering function.

A then ceases to perform the money laundering function but continues to perform the executive director function.

The firm must submit:

(a) Form C for the money laundering function;

(b) Form J; and

(c) a single updated statement of responsibilities document that covers the executive director function.

(11) A has approval to perform the executive director function and the PRA's chief risk officer designated senior management function for the same firm. Later, A gives up his role as chief risk officer.

The firm must submit:

(a) Form C for the PRA function;

(b) Form J; and

(c) a single updated statement of responsibilities document that covers the executive director function.

The firm should not submit the revised single statement of responsibilities document separately to the FCA. Instead, it should include it as part of the notification to the PRA.

(12) A has approval to perform the executive director function. Later, A is to be appointed to perform the money laundering function for the same firm.

The application is rejected.

The single statement of responsibilities document submitted as part of the application will no longer be correct as it reflects the proposed new approval.

If the only changes to the single document in the version sent with the application are ones, clearly and exclusively tied to the new function, the firm will not need to amend the document as the changes will automatically fall away.

In any other case (for instance if the application is approved conditionally), it is likely that the firm will need to update it using Form J.

In any case, the FCA may contact the firm to agree a revised single statement of responsibilities document.

(13) A has approval to perform the executive director function. Later, A is to be appointed to perform the money laundering function for the same firm.

This will not result in any changes to A’s duties as an executive director. However, there have been some insignificant changes to A’s role as an executive director since the firm submitted the most recent single statement of responsibilities document. The changes are not connected to A’s appointment to perform the money laundering function.

The answer for example (4) applies.

The single statement of responsibilities document should be updated to cover the changes to A’s duties as executive director, as well as covering A’s new money laundering role. It does not matter that the changes to A’s role as an executive director are not significant.

(14) A has approval to perform the executive director function. Later, A’s business unit grows in size and so the firm needs to apply for A to be approved to perform the PRA's Head of Key Business Area designated senior management function. However, A’s responsibilities do not change.

The firm should submit a revised single statement of responsibilities document along with the application to perform the PRA function.

The firm should submit a single statement of responsibilities document that covers both the FCA and the PRA functions.

It should not submit the revised single statement of responsibilities document separately to the FCA. Instead, it should include it as part of the application to the PRA.

2(15) Firm X has a branch in the United Kingdom. Firm Y is a UK authorised subsidiary 3 of firm X.

Firm X is a third-country relevant authorised person and firm3 Y is a UK relevant authorised person.

Both firms apply for approval for the same individual (P) to perform the executive3 director function.

There should be separate statement of responsibilities for P for each firm.

The single statement of responsibilities document means the single document described in SUP 10C.11.13D

Related provisions for SUP 15.7.5A

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