Related provisions for BIPRU 4.3.31

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LR 8.6.13AGRP
4A sponsor will generally be regarded as having appropriate systems and controls for identifying and managing conflicts6 if it has in place effective policies and procedures:(1) to ensure that decisions taken on managing conflicts of interest are taken by appropriately senior staff and on a timely basis;(2) to monitor whether arrangements put in place to manage conflicts are effective; and6(3) to ensure that individuals within the sponsor are appropriately trained to enable them
SUP 12.4.5CRP
1

Multiple principal agreement

Matter

Explanation

1.

Scope of appointment

The scope of appointment given by each principal to the appointed representative.

2.

Complaints handling

The identity of the principal which will be the point of contact for a complaint from a client (referred to as the "lead-principal" in SUP 12.4.5D G to SUP 12.4.5E G).

An agreement that each principal will co-operate with each other principal in resolving a complaint from a client in relation to the appointed representative's conduct.

The arrangements for complaints handling, including arrangements for resolving disputes between the principals in relation to their liability to a client in respect of a complaint and arrangements for dealing with referrals to the Financial Ombudsman Service.

3.

Financial promotions

The arrangements for approving financial promotion.

4.

Control and monitoring

The arrangements for the control and monitoring of the activities of the appointed representative (see in particular SUP 12.6.6 R (Regulated activities and investment services outside the scope of appointment) and SUP 12.6.7 G (Senior management responsibility for appointed representatives)).

5.

Approved person status

The arrangements for making applications for approved person status (see SUP 10A and SUP 10C12 (Approved persons) and the corresponding PRA requirements).12

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6.

Training and competence

The arrangements for training and competence (see TC).

7.

Co-operation

The arrangements for co-operation over any other issues which may arise from the multiple appointments, including issues which may damage the interests of clients dealing with the appointed representative and administrative issues.

An agreement by each principal to take reasonable steps to ensure that it does not cause the appointed representative or any of its other principals to be in breach of their obligations to each other or under the regulatory system.

8.

Sharing information

The arrangements for sharing information on matters relevant to the matters covered under the multiple principal agreement and each principal's obligations under SUP 12.6 (Continuing obligations of firms with appointed representatives).

An agreement that each principal will notify each other principal of any information which is materially relevant to the multiple principal agreement.
SUP 10C.5.6GRP
(1) As explained in SUP 10C.7.4G, the FCA does not expect a non-executive director ever to perform the other overall responsibility function.(2) Therefore, a non-executive director will not need to be approved to perform any FCA-designated senior management function unless they perform the chair of the nomination committee function.
IFPRU 4.11.19GRP
The FCA expects that a firm will1 be able to comply with certain other EU CRR requirements only where it can1demonstrate that:11(1) in relation to article 144(1)(e) of the EU CRR, where more than one model is used, the rationale, and the associated boundary issues, is clearly articulated and justified and the criteria for assigning an asset to a rating model are objective and clear;(2) in relation to article 173(1)(c) of the EU CRR, the firm has a process in place to ensure valuations
EG 13.7.3RP
1Factors which the FCA will consider when it decides whether to use this power (in addition to the factors identified in paragraphs 13.5.1 to 13.6.3 in relation to the FCA's decisions to seek compulsory winding up) include: (1) whether the FCA's concerns can properly and effectively be met by seeking a specific direction under section 365(2) of the Act; (2) whether the affairs of the company require independent investigation of the kind which follows a compulsory
REC 2.3.17GRP
4The financial risk assessment should be based on a methodology which provides a reasonable estimate of the potential business losses which a UK RIE might incur in stressed but plausible market conditions. The FCA5 would expect a UK RIE to carry out a financial risk assessment at least once in every twelve-month period, or more frequently if there are material changes in the nature, scale or complexity of the UK RIE's operations or its business plans that suggest such financial
SYSC 13.8.2GRP
A firm should establish and maintain appropriate systems and controls for the management of the risks involved in expected changes, such as by ensuring:(1) the adequacy of its organisation and reporting structure for managing the change (including the adequacy of senior management oversight);(2) the adequacy of the management processes and systems for managing the change (including planning, approval, implementation and review processes); and(3) the adequacy of its strategy
COLL 6.12.5RRP
(1) An authorised fund manager of a UCITS scheme or a UK UCITS management company of an EEA UCITS scheme must establish, implement and maintain an adequate and documented risk management policy for identifying the risks to which that scheme is or might be exposed.(2) The risk management policy must comprise such procedures as are necessary to enable the authorised fund manager or UK UCITS management company to assess the exposure of each UCITS it manages to market risk, liquidity
SUP 10A.9.2GRP
The FCA anticipates that there will be only a few firms needing to seek approval for an individual to perform the significant management function set out in SUP 10A.9.1R (1). In most firms, those approved for the FCA governing functions, FCA required functions and, where appropriate, the systems and controls function or the equivalent PRA controlled functions, are likely to exercise all the significant influence at senior management level.
SYSC 20.1.3GRP
This chapter contains rules on reverse stress testing, which require a firm to identify and assess events and circumstances that would cause its business model to become unviable. This chapter also requires the firm's senior management or governing body to review and approve the results of the reverse stress testing exercise. This should help the firm's senior management to identify the firm's vulnerabilities and design a strategy to prevent or mitigate the risk of business f
SUP 1A.1.4GRP
(1) In designing its approach to supervision, the FCA has regard to the regulatory principles set out in section 3B of the Act. In particular, the FCA's regulatory approach aims to focus and reinforce the responsibility of the senior management of each firm (section 3B(1)(d) of the Act) to ensure that it takes reasonable care to organise and control the affairs of the firm responsibly and effectively, and develops and maintains adequate risk management systems. It is the responsibility
BIPRU 5.6.19RRP
(1) A firm must be able to satisfy the appropriate regulator that the firm's risk management system for managing the risks arising on the transactions covered by the master netting agreement is conceptually sound and implemented with integrity and that, in particular, the minimum qualitative standards in (2) – (11) are met.(2) The internal risk-measurement model used for calculation of potential price volatility for the transactions is closely integrated into the daily risk-management
IFPRU 4.12.38GRP
The FCA expects relevant senior management of a firm to be appropriately engaged in the execution of securitisation transactions that lead to a reduction in RWEA where the firm is providing or purchasing structured trades.
BIPRU 8.8.9GRP
The governance arrangements that apply to the governing body, the senior management and any designated committee of a firm in relation to the IRB approach also apply to the body or persons with equivalent powers with respect to the UK consolidation group or non-EEA sub-group. Where the parent undertaking and its subsidiary undertakings use rating systems on a unified basis, the approval and reporting process described in BIPRU 4.3.12 G (Approval and reporting arrangements for
DEPP 2.5.18GRP
Some of the distinguishing features of notices given under enactments other than the Act are as follows: (1) [deleted]66(2) [deleted]66(3) Friendly Societies Act 1992, section 58A1: The warning notice and decision notice must set out the terms of the direction which the FCA6 proposes or has decided to give and any specification of when the friendly society is to comply with it. A decision notice given under section 58A(3) must give an indication of the society's right, given by
REC 2.4.5GRP
In assessing whether its connection with any person could affect whether a UK recognised body is a fit and proper person, the FCA4 may have regard to:4(1) the reputation and standing of that other person, including his standing with any relevant UK or overseas regulator;(2) breaches of any law or regulation by that other person; (3) the roles of any of the UK recognised body's key individuals who have a position within organisations under the control or influence of that other
DTR 8.2.1RRP
A person wishing to be included on the list of primary information providers, must apply to the FCA for approval as a primary information provider by submitting the following to the FCA:(1) the name, registered office address, registered number and the names and addresses of the directors and company secretary of the person applying for approval and, where applicable, the corporate group to which the person belongs;(2) details of all the arrangements that it has established or
SUP 10A.14.4DRP
(1) A firm must use Form E where an approved person is both ceasing to perform one or more controlled functions and needs to be approved in relation to one or more FCA controlled functions within the same firm or group.(2) A firm must not use Form E if: 2(a) the approved person has never before been approved to perform for any firm:2(i) an FCA controlled function that is2 a significant-influence function; or2(ii) an FCA-designated senior management function; or2(iii) a PRA controlled
SYSC 6.3.7GRP
A firm should ensure that the systems and controls include:1(1) appropriate training for its employees in relation to money laundering;(2) appropriate provision of information to its governing body and senior management, including a report at least annually by that firm'smoney laundering reporting officer (MLRO) on the operation and effectiveness of those systems and controls;(3) appropriate documentation of its risk management policies and risk profile in relation to money laundering,
SUP 10C.15.3GRP

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

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

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

Relevant3statement 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