Related provisions for MCOB 9.4.138

DEPP 6A.4.3G03/07/2016

The FCA1 may depart from the approach set out in DEPP 6A.4.2 G. For example, the FCA1 may at the outset consider that a financial penalty is the only appropriate sanction for a breach but, having determined the appropriate level of financial penalty, may consider it appropriate to reduce the amount of the financial penalty for serious financial hardship reasons. In such a situation, the FCA1 may consider it appropriate to impose a suspension, restriction, condition,3 limitation

LR 9.8.4R16/05/2014

In addition to the requirements set out in DTR 4.1 a listed company1 must include in its annual financial report1, where applicable, the following:1(1) a statement of the amount of interest capitalised by the group during the period under review with an indication of the amount and treatment of any related tax relief;(2) any information required by LR 9.2.18 R (Publication of unaudited financial information);(3) [deleted]1313(4) details of any long-term incentive schemes as required

FEES 6.4.10BG01/04/2009

The table below sets out the period within which a participant firm's tariff base is calculated ("the data period") for second year levies calculated under FEES 6.4.10B. The example is based on a participant firm that extends its permission on 1 November 2009 and has a financial year ending 31 March.

References in this table to dates or months are references to the latest one occurring before the start of the FSCS financial year unless otherwise stated.

Type of permission acquired on 1 November	Tariff base	Valuation date but for FEES 6.5.13BR	Data period under FEES 6.5.13bR
Accepting deposits	Protected deposits	As at 31 December 2009	As at 31 December 2009
Effecting contracts of insurance (Insurers - general)	Relevant net premium income	The firm's tariff base calculated in the year 2009 - so projected valuation will be used.	1 November to 31 December 2009
Dealing in investments as agent in relation to General Insurance Intermediation	Annual eligible income	Financial year ended 31 March 2009 - so projected valuations will be used.	1 November to 31 December 2009

CREDS 9.2.13G08/01/2012

The contact point in CREDS 9.2.1 R and CREDS 9.2.12 R can be by name or job title and may include, for example, a telephone number.

COCON 1.1.8G07/03/2016

(1) Both COCON 1.1.6R and COCON 1.1.7R may apply to the same individual performing several roles.(2) For example, say that an individual (A) is an approved person for firm X and is employed by firm Y in a role that does not involve a controlled function. Say that firm X is a Solvency II firm or a small non-directive insurer4 and that firm2Y is a relevant authorised person.(3) COCON 1.1.6R applies to A’s role with firm X and COCON 1.1.7R applies to A’s role with firm Y.

MCOB 9.5.4R01/04/2014

The illustration provided as part of the offer document in accordance with MCOB 6.4.1 R(1) must meet the requirements of MCOB 9.4, with the following modifications:(1) the illustration must be suitably adapted and revised to reflect the fact that the firm is making an offer to a customer and updated to reflect changes to, for example, for a lifetime mortgage3 the interest rate, charges, the exchange rate or the APR required by MCOB 10 (Annual Percentage Rate) at the date the illustration

BIPRU 3.7.2R01/01/2007

This table belongs to BIPRU 3.7.1 R

[Note: BCD Annex II]

Category	Item	Percentage
Full risk	Guarantees having the character of credit substitutes Credit derivatives Acceptances Endorsements on bills not bearing the name of another credit institution Transactions with recourse Irrevocable standby letters of credit having the character of credit substitutes Assets purchased under outright forward purchase agreements Forward deposits The unpaid portion of partly-paid shares and securities Asset sale and repurchase agreements as defined in Article 12(3) and (5) of the Bank Accounts Directive Other items also carrying full risk	100%
Medium risk	Documentary credits issued and confirmed (see also medium/low risk). Warranties and indemnities (including tender, performance, customs and tax bonds) and guarantees not having the character of credit substitutes. Irrevocable standby letters of credit not having the character of credit substitutes. Undrawn credit facilities (agreements to lend, purchase securities, provide guarantees or acceptance facilities) with an original maturity of more than one year. Note issuance facilities (NIFs) and revolving underwriting facilities (RUFs).	50%
Medium/low risk	Documentary credits in which underlying shipment acts as collateral and other self-liquidating transactions. Undrawn credit facilities (agreements to lend, purchase securities, provide guarantees or acceptance facilities) with an original maturity of up to and including one year which may not be cancelled unconditionally at any time without notice or that do not effectively provide for automatic cancellation due to deterioration in a borrower's creditworthiness.	20%
Low risk	Undrawn credit facilities (agreements to lend, purchase securities, provide guarantees or acceptance facilities) which may be cancelled unconditionally at any time without notice, or that do effectively provide for automatic cancellation due to deterioration in a borrower's creditworthiness. Retail credit lines may be considered as unconditionally cancellable if the terms permit the firm to cancel them to the full extent allowable under consumer protection and related legislation.	0%

CONC 10.3.6G01/04/2014

CONC 10.3.5 R can be illustrated by the examples set out below:

(1)

Share Capital	£20,000
Reserves	£30,000
Subordinated loans/debts	£10,000
Intangible assets	£10,000
As subordinated loans/debts (£10,000) are less than the total of share capital + reserves - intangible assets (£40,000) the firm need not exclude any of its subordinated loans/debts pursuant to CONC 10.3.5 R. Therefore total prudential resources will be £50,000.

(2)

Share Capital	£20,000
Reserves	£30,000
Subordinated loans/debts	£60,000
Intangible assets	£10,000
As subordinated loans/debts (£60,000) exceed the total of share capital + reserves - intangible assets (£40,000) by £20,000, the firm should exclude £20,000 of its subordinated loans/debts when calculating its prudential resources. Therefore total prudential resources will be £80,000.

[Note: Until 31 March 2017, transitional provisions apply to CONC 10.3.6 G: see CONC TP 5.3]

ICOBS 3.2.8R06/01/2008

The requirements relating to the placing and receipt of orders do not apply to contracts concluded exclusively by exchange of e-mail or by equivalent individual communications.[Note: article 10(4) and 11(3) of the E-Commerce Directive]

DEPP 1.2.2G01/04/2013

Table: Summary of statutory and related notices

Notice	Description	Act reference	Further information
Warning notice	Gives the recipient details about action that the FCA 2 proposes to take and about the right to make representations. 2	Section 387	DEPP 2.2
Decision notice	Gives the recipient details about action that the FCA 2 has decided to take. The FCA 2 may also give a further decision notice if the recipient of the original decision notice consents. 2 2	Section 388	DEPP 2.3
Notice of discontinuance	Identifies proceedings set out in a warning notice or decision notice and which are not being taken or are being discontinued.	Section 389	DEPP 1.2.4 G and DEPP 3.2.26 G
Final notice	Sets out the terms of the action that the FCA 2 is taking. 2	Section 390	DEPP 1.2.4 G
Supervisory notice	Gives the recipient details about action that the FCA 2 has taken or proposes to take, for example to vary a Part 4A permission.2 2 2	Section 395(13)	DEPP 2.2 and DEPP 2.3

MCOB 12.3.3G31/10/2004

A firm may calculate the same level of early repayment charge for all regulated mortgage contracts of a similar type (for example a tranche of regulated mortgage contracts offering a particular fixed rate of interest), rather than on the basis of the individual regulated mortgage contract with the particular customer.

LR 10.5.3G01/04/2013

1The FCA would (amongst other things) generally consider an increase of 10% or more in the consideration payable to be a material change to the terms of the transaction.

COLL 7.4.6G22/11/2016

(1) 1The effect of COLL 7.4.5R2 is that the manager must continue to prepare annual and half-yearly long reports and to make them available to unitholders in accordance with COLL 4.5.14 R.(2) Where there are outstanding unrealised assets, keeping unitholders appropriately informed may, for example, be carried out by providing updates to unitholders at six-monthly or more frequent intervals.

SUP 5.6.4G01/04/2013

2A firm may provide information that would otherwise be subject to a contractual or other requirement to keep it in confidence if it is provided for the purposes of anything required to be done in respect of the skilled person's collection or updating of information under section 166A (Appointment of skilled person to collect and update information) of the Act.

MCOB 13.4.3G26/04/2014

(1) A firm may provide the information in MCOB 13.4.1 R (2), (3), (4), (5) and (6) orally, for example by telephone, but must provide the information in a durable medium with a copy of the Money Advice Service3 information sheet “Problems3 paying your mortgage” 23within 15 business days of becoming aware of the customer's account falling into arrears.23(2) Where a firm provides the information in MCOB 13.4.1 R when a payment shortfall4 occurs but before the customer's account

SUP 10C.9.9G07/03/2016

Table: Examples of how the need for dual FCA and PRA approval in relation to PRA-authorised persons is reduced

1Example	Whether FCA approval required	Whether PRA approval required	Comments
(1) A is appointed as chief risk officer and an executive director.	No. He is not treated as performing the executive director function.	Yes	Chief risk officer is a PRA-designated senior management function. A’s functions as a director will be included in the PRA-designated senior management function. To avoid the need for FCA approval, A’s appointment as director should not take effect before PRA approval for the chief risk officer role.
(2) Same as example (1), except that A will take up the role as an executive director slightly later because the approval is needed from the firm's shareholders or governing body.	No	Yes	The answer for (1) applies. The arrangements in this section apply if the application to the PRA says that A will start to perform the potential FCA governing function around the time of the PRA approval as well as at that time.
(3) Same as example (1) but the application to the PRA does not mention that it is also intended that A is to be an executive director.	Yes, to perform the executive director function.	Yes	SUP 10C.9.8R does not apply if the application for PRA approval does not say that A will also be performing what would otherwise be an FCA governing function.
(4) A is to be appointed as chief executive and an executive director.	No. A is not treated as performing the executive director function.	Yes	Being a chief executive is a PRA-designated senior management function. A’s functions as a director will be included in the PRA controlled function.
(5) A is appointed as chief risk officer. Later, A is appointed as an executive director while carrying on as chief risk officer.	Yes, when A takes up the director role. The executive director function applies.	Yes, when A takes up the chief risk officer role.	SUP 10C.9.8R does not apply because, when the firm applied for approval for A to perform the PRA chief risk officer designated senior management function, there was no plan for A also to perform the executive director function.
(6) A is appointed as an executive director. Later, A takes on the chief risk officer function and remains as an executive director.	Yes, when A is appointed as director. The executive director function applies.	Yes, when A takes up the chief risk officer role.	When A is appointed as chief risk officer, A is still treated as carrying on the executive director function. A retains the status of an FCA-approved person.
(7) A is appointed as chief risk officer. A then stops performing that role and for a while does not perform any controlled function for that firm. Later, A is appointed as an executive director with the same firm.	Yes, when A is appointed as an executive director. The executive director function applies.	Yes, when A takes up the chief risk officer role.	SUP 10C.9.8R does not apply because there is no current PRA approval when A is being appointed as a director.
(8) A is appointed as an executive director and chief risk officer at the same time. Later, A gives up the role as chief risk officer but remains as an executive director.	No, on A’s first appointment (see example (1)). But when A gives up the role as chief risk officer, FCA approval is needed to perform the executive director function. Form E should be used. The application should state that it is being made as a result of A ceasing to perform a PRA-designated senior management function. Form A should be used if there have been changes in A’s fitness (SUP 10C.10.9D(4))	Yes, on A’s first appointment.	When A stops being a chief risk officer, A stops performing a PRA-designated senior management function. However, being an executive director requires FCA approval. A does not have that approval because A did not need it when A was first appointed. The combined effect of SUP 10C.9.8R and the relevant PRA rules is that the firm has three months to secure approval by the FCA. During that interim period, A keeps the status of a PRA approved person performing the director element of the PRA chief risk designated senior management function - which is included in that function under relevant PRA rules. The relevant PRA rules say that, during this transitional period, A is still treated as performing the PRA chief risk designated senior management function and SUP 10C.9.8R says that, for as long as A is performing a PRA-designated senior management function, A does not perform the executive director function.
(9) A is appointed as the chief finance officer and an executive director at the same time. Later, A switches to being chief risk officer while remaining as an executive director.	No	Yes	The arrangements in SUP 10C.9.8R continue to apply, even though A switches between PRA-designated senior management function after the PRA's first approval.
(10) A is appointed chief risk officer and an executive director. A goes on temporary sick leave. A takes up his old job when he comes back.	No, neither on A’s first appointment nor when A comes back from sick leave.	Yes	SUP 10C.9.8R still applies on A’s return because A does not stop performing either the PRA's chief risk function or what would otherwise have been the executive director function just because A goes on temporary sick leave.
(11) A is appointed to be chairman of the governing body and chairman of the nomination committee at the same time.	No. A does not need approval to perform the chair of the nomination committee function.	Yes, on first appointment.	Being chairman of the governing body is a PRA-designated senior management function. Therefore, the answer for example (1) applies.
2(12) ‘A’ is to be appointed to perform the Head of Overseas Branch PRA-designated senior management function (SMF19) for a third-country relevant authorised person. A is also an executive director of that firm’s UK branch.	No. A is not treated as performing the executive3 director function.	Yes	A’s functions as a director will be included in the PRA controlled function.
Note: The relevant PRA rules can be found in Chapter 2 of the part of the PRA rulebook called ‘Senior Management Functions’

CONC 7.12.3G01/04/2014

(1) CONC 1.2.2 R requires a firm to ensure its employees and agents comply with CONC and that it takes reasonable steps to ensure other persons who act on its behalf do so. This rule would apply where a debt collector acts as agent or on behalf of a lender.(2) Situations where it may be justified for a firm to refuse to deal with a person acting on behalf of a customer may include, for example, refusing to deal with that person where the firm is able to show that the person has

Related provisions for MCOB 9.4.138

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