Related provisions for GEN 1.2.1
121 - 140 of 178 items.
1The RAO sets out those activities which are regulated for the purposes of the Act. Part V of the RAO also requires the FCA to maintain a register of all those people who are not authorised by the FCA but who carry on insurance mediation activities. Under article 95 RAO, the FCA has the power to remove from the register an appointed representative who carries on insurance mediation activities if it considers that he is not fit and proper. The FCA will give the person a warning
1The FCA often takes a different approach to that described above where firms no longer meet the threshold conditions. The FCA views the threshold conditions as being fundamental requirements for authorisation and it will generally take action in all such cases which come to its attention and which cannot be resolved through the use of supervisory tools. The FCA does not generally appoint investigators in such cases. Instead, firms are first given an opportunity to correct the
Section 21(2) of the Act sets out two circumstances in which a financial promotion will not be caught by the restriction in section 21(1). These are where the communicator is an authorised person or where the content of the financial promotion has been approved for the purposes of section 21 by an authorised person. Where approval is concerned it must be specifically for the purposes of enabling the financial promotion to be communicated by unauthorised persons free of the restriction
A person will only need authorisation or exemption if he is carrying on a regulated activity 'by way of business' (see section 22 of the Act (Regulated activities)). There are, in fact, three different forms of business test applied to the regulated mortgage activities. In the FCA's view, however, the difference in the business tests should have little practical effect.
4SUP 13.5.2 R does not apply to13UK firms exercising an EEA right under the auction regulation7 as they have automatic passport rights on the basis of their Home State authorisation under 13the auction regulation. However, the information required by SUP 13.5.2-A R assists the FCA’s13 supervision of a UK firm's provision of a service in another EEA state under the auction regulation.71111
5In the FCA's view the following factors are relevant in deciding whether a person (referred to in this paragraph as "an individual") is to be treated as carrying on his own business (in which case he may require authorisation unless an exemption or exclusion is available) or whether he is carrying on the business of the person for whom he works (in which case he will not require authorisation). In this paragraph, the person for whom the individual works is referred to as the
5Although the overall relationship between a home collected credit provider (the principal firm) and a person providing the services described in PERG 2.3.10 G (the individual) will need to be taken into account, meeting the following criteria is likely to mean that the individual is carrying on the business of the principal firm (as its agent) and not his own, meaning that the individual does not require authorisation or to be exempt:(1) the principal firm appoints the individual
If a person established in the EEA: (1) does not have an EEA right; (2) does not have permission as a UCITS qualifier; and(3) does not have, or does not wish to exercise, a Treaty right (see SUP 13A.3.4 G to SUP 13A.3.11 G);to carry on a particular regulated activity in the United Kingdom, it must seek Part 4A permission from the appropriate UK regulator3 to do so (see the appropriate UK regulator's website: www.fca.org.uk/firms/authorisation/apply-authorisation for the FCA and
The SRB agreement provider must keep a record of the written pre-offer document at Stage One and the written offer document for signing at Stage Two for a period of:(1) one year after the end of the fixed term of the tenancy under the regulated sale and rent back agreement; or(2) five years from the date of the disclosures and warnings, written offer documents and cooling-off period notices;whichever is the longer.
(1) A firm must pay the pensions guidance levy applicable to it within 30 days of the date of the invoice to which that sum relates, unless any of (2) to (5) apply.(2) If the firm has applied to cancel its Part 4A permission under SUP 6.4.5D (Cancellation of permission), the firm must pay the pensions guidance levy applicable to it on the date of its application.(3) If the FCA has exercised its own-initiative powers to cancel a firm'sPart 4A permission, the firm must pay the
(1) 1This rule deals with the calculation of:(a) a firm'sgeneral levy in the 12 months ending on the 31 March in which it obtains permission, or was authorised under the Payment Services Regulations or the Electronic Money Regulations4or had its permission and/or payment services activities extended (relevant permissions)3 and the following 12 months ending on the 31 March;3 and33(b) the tariff base for the industry blocks that relate to each of the relevant permissions3.3(2)
12The FSCS must allocate any compensation costs levy:(1) first, to the relevant classes in proportion to the amount of compensation costs arising from, or expected to arise from, claims in respect of the different activities for which firms in those classes have permission up to the levy limit of each relevant class. The FCA provider contribution classes are not relevant classes for this purpose; and(2) thereafter, where the levy limit has been reached (whether as a result of
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