Related provisions for MCOB 10A.3.2

101 - 120 of 128 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).

PRIN 4.1.4GRP
(1) Certain requirements under MiFID are disapplied for:(a) eligible counterparty business;(b) transactions concluded under the rules governing a multilateral trading facility between its members or participants or between the multilateral trading facility and its members or participants in relation to the use of the multilateral trading facility;(c) transactions concluded on a regulated market between its members or participants.(2) Under PRIN 3.1.6 R, these disapplications may
EG 19.30.1RP
1 The Mortgage Credit Directive (MCD) allows for an exemption not to apply the MCD to buy-to-let lending if there is in place an appropriate framework for the regulation of these mortgages. The Mortgage Credit Directive Order 2015 (MCDO) is the vehicle through which the framework for “consumer buy-to-let” (CBTL) mortgages has been established in order to comply with the MCD.
PERG 4.13.5GRP

3Exempted regulated mortgage contracts

Type of regulated mortgage contract

Explanation

Exempted under article 3(2) of the Mortgage Credit Directive

See PERG 4.10A.5G (1) to PERG 4.10A.5G (6)

Bridging loan

See PERG 4.13.6 G

Restricted public loan

See PERG 4.13.7 G
MCOB 3A.2.4RRP
(1) A firmcommunicating or approving a non-real time financial promotion of qualifying credit other than in (2), for a home reversion plan or a regulated sale and rent back agreement must be able to show that it has taken reasonable steps to ensure that the non-real time financial promotion is fair, clear and not misleading. (2) A firmcommunicating a financial promotion, or approving a non-real time financial promotion in relation to an MCD regulated mortgage contract must ensure
PERG 2.4.3GRP
Section 418 of the Act (Carrying on regulated activities in the United Kingdom) takes this one step further. It extends the meaning that 'in the United Kingdom' would ordinarily have by setting out five additional cases. The Act states that, in these five cases, a person who is carrying on a regulated activity but who would not otherwise be regarded as carrying on the activity in the United Kingdom is, for the purposes of the Act, to be regarded as carrying on the activity in
TC App 2.1.1RRP

1UK domestic firm

Incoming EEA firm

Overseas firm (other than an incoming EEA firm)

MiFID business and equivalent third country business

TC applies in respect of employees who carry on activities from an establishment maintained by the firm (or its appointed representative) in the United Kingdom

and

TC also applies insofar as an activity is carried on from an establishment maintained by the firm (or its appointed representative or, where applicable, its tied agent) in, and within the territory of, another EEA State

TC does not apply

TC applies in respect of employees who carry on activities from an establishment maintained by the firm (or its appointed representative) in the United Kingdom

Insurance mediation activities

TC applies in respect of employees who carry on activities from an establishment maintained by the firm (or its appointed representative) in the United Kingdom

and

TC also applies in respect of employees who engage in or oversee activities from a branch established in another EEA state

TC does not apply

TC does not apply

Mortgage activities and reversion activities numbers 20, 20A, 21, 21A, 21B, 22 and 23 in TC App 1.1.1R; and

MCD credit agreement activities numbers 23A to 23E in TC App 1.1.1R3

TC applies if the customer is resident in the United Kingdom at the time the activity3 is carried on

and

TC also applies if the customer is resident in another EEA State (at the time that the activity is carried on) but only if the activity is carried on from an establishment maintained by the firm or its appointed representative in the United Kingdom

Same as for UK domestic firm except that:

(1) if the firm carries on the activity from an establishment maintained by the firm or its appointed representative in the United Kingdom and the customer is resident in another EEA State when the activity is carried on, TC does not apply; and

(2) if the firm carries on the activity from an establishment maintained by the firm in another EEA State (and the customer is resident in the United Kingdom when the activity is carried on), the following provisions of TC apply: TC 2.1.5AR; TC 2.1.5BR(2), (3), (5) and (6); TC 2.1.5CR; TC 2.1.5DG; TC 2.1.5ER; and TC 2.1.5FG.

[Note: article 9(3) of the MCD]3

Same as for UK domestic firm

Any other activity in Appendix 1

TC applies in respect of employees who carry on these activities from an establishment maintained by the firm (or its appointed representative) in the United Kingdom

and

TC also applies in respect of employees who carry on activities with or for a client in the United Kingdom

TC applies in respect of its employees who carry on activities from an establishment maintained by the firm (or its appointed representative) in the United Kingdom

3

2

TC applies in respect of its employees who carry on activities from an establishment maintained by the firm (or its appointed representative) in the United Kingdom
PERG 2.5.3GRP
The application of certain of the exclusions considered in PERG 2.8 (Exclusions applicable to certain regulated activities) and PERG 2.9 (Regulated activities: exclusions applicable to certain circumstances) is modified in relation to persons who are subject to MiFID2, the Insurance Mediation Directive and the MCD.6 The reasons for this and the consequences of it are explained in PERG 2.5.4 G6for MiFID2, PERG 5 (Insurance mediation activities), for6 the Insurance Mediation Directive
SUP 8.6.2GRP
When considering whether it is satisfied under section 138B(2)4, the appropriate regulator4 is required by section 138B(3)4 of the Act:444(1) to take into account whether the waiver relates to a rule contravention of which is actionable under section 138D4 of the Act (Actions for damages); Schedule 5 identifies such rules;4(2) to consider whether its publication would prejudice, to an unreasonable degree, the commercial interests of the firm concerned, or any other member of its
APER 2.1A.2RRP
1An approved person will not be subject to a Statement of Principle to the extent that it would be contrary to the UK's obligations under a Single Market Directive or the auction regulation.
SUP 14.2.17GRP
10As required by regulation 7B(1), where an incoming EEA firm passporting under the MCD has established a branch in the UK, it must not make a material change to any of the matters referred to in regulation 2(8)(b) to (e) or regulation 3(6)(b) to (e), unless it has complied with the relevant requirements.
MCOB 9.1.7GRP
(1) 3This chapter does not apply to an MCD lifetime mortgage, except as set out in (2) to (3), below.(2) MCOB 9.4.33 R, MCOB 9.4.35 R, MCOB 9.4.62 R and MCOB 9.4.63 R apply to the extent specified by MCOB 5A.6.2 R.(3) MCOB 9.6 to MCOB 9.8 apply, except for rules that modify or replace MCOB 7.6.7R to MCOB 7.6.17R (because those rules do not apply to an MCD mortgage lender or an MCD mortgage credit intermediary, MCOB 7B applies instead: see MCOB 7.1.2AR and MCOB 7.1.2BG).
PERG 4.14.2AGRP
PERG 4.10A (Activities regulated under the Mortgage Credit Directive) explains that some of these exclusions do not apply to activities which fall under the MCD.
PERG 4.5.8AGRP
2Article 29 does not apply if applying the exclusion would take activities outside article 25A that should be regulated under the MCD. Please see PERG 4.10A (Activities regulated under the Mortgage Credit Directive) for more details.
MCOB 3A.3.1RRP
1A firm which communicating or approving a financial promotion within MCOB 3A.2.4 R must, in addition, ensure that the financial promotion:(1) is accurate;(2) is balanced and, in particular, does not emphasise any potential benefits of the MCD regulated mortgage contract, other qualifying credit, home reversion plan or regulated sale and rent back agreement without also giving a fair and prominent indication of any relevant risks;(3) is sufficient for, and presented in a way that
MIPRU 3.1.1RRP
62(1) [deleted]6(1A) Subject to the exceptions in (3) to (8), this chapter applies to a firm with Part 4A permission to carry on any of the following activities:6(a) insurance mediation activity;6(b) home finance mediation activity; and6(c) MCD article 3(1)(b) credit intermediation activity.6(2) [deleted]61515(3) In6 relation to insurance mediation activity, this chapter does not apply to a firm if another authorised person which has net tangible assets of more than £10 million
COBS 6.3.3GRP
(1) In the FCA's opinion, a firm may3 comply with the rules referred to in (4) of which (a) to (g) are derived from the Single Market Directives and the Distance Marketing Directive4 by ensuring3 that in good time before:3343(a) a retail client is bound by an agreement for the provision of a personal recommendation on packaged products; or (b) the firm performs an act preparatory to the provision of a personal recommendation;(c) (3in relation to the amendment of a life policy
ICOBS 1.1.4GRP
Guidance on the application provisions is in ICOBS 1 Annex 1 (Part 4).
SYSC 4.6.20RRP
An EEA relevant authorised person may exclude from its management responsibilities map:(1) any information contained in its requisite details;(2) any information contained in any notice of changes to its requisite details under the EEA Passport Rights Regulations; and(3) any other information that has been supplied by the firm to the FCA or the PRA (including through the firm’sHome Statecompetent authority) if:(a) that information was supplied to the FCA or the PRA as a Host Statecompetent
COND 2.3.2GRP
Paragraphs 2C and 3B of Schedule 6 to the Act6 implements requirements of the Single Market Directives8, but the Act extends this condition to firms from outside the EEA and other firms which are outside the scope of the Single Market Directives.688
SUP 12.2.1GRP
(1) Under section 19 of the Act (The general prohibition), no person may carry on a regulated activity in the United Kingdom, or purport to do so, unless he is an authorised person, or he is an exempt person in relation to that activity.(2) A person will be an exempt person if he satisfies the conditions in section 39(1) of the Act, guidance on which is given in SUP 12.2.2 G. A person who is exempt as a result of satisfying these conditions is referred to in the Act as an appointed