Related provisions for REC 6.7.11
121 - 140 of 154 items.
16TC Appendix 5G sets out:(1) the criteria which the FCA may take into account when assessing a qualification provider; and(2) the information the FCA will expect the qualification provider to provide if it asks the FCA to add a qualification to the list of appropriate qualifications in TC Appendix 4E.
Before a customer enters into a regulated credit agreement, the firm must:(1) encourage the customer to read all contractual documentation carefully; (2) take reasonable steps to ensure the customer has understood the nature of the obligations the customer will take on and the resulting risks;(3) encourage the customer to obtain independent advice; and(4) permit the customer an adequate opportunity to seek and obtain such advice.
11The
requirement to keep information at the disposal of the FCA means that a firm should
maintain that information in such a form that it can readily be gathered and
transmitted to the FCA upon request. Where more than
one firm has given effect to
a transaction, each firm should be considered to have carried
out the transaction for the
purposes of SUP 17.4.3 R and should keep the records, even where only
one firm makes a transaction report as contemplated in this
Chapter.
In having regard to the cost implications of using the section 166 power (Reports by skilled persons) or the section 166A power (Appointment of skilled person to collect and update information) 6alternative options (such as visits) or other powers, the FCA5 will take into account relevant factors, including:66(1) whether the firm may derive some benefit from the work carried out and recommendations made by the skilled person, for instance a better understanding of its business
10When determining the adequacy of its internal controls, a firm should consider both the potential risks that might hinder the achievement of the objectives listed in SYSC 14.1.28 G, and the extent to which it needs to control these risks. More specifically, this should normally include consideration of:(1) the appropriateness of its reporting and communication lines (see SYSC 3.2.2 G);(2) how the delegation or contracting of functions or activities to employees, appointed representatives
SYSC 4.6.27G and SYSC 4.6.28G do not take into account the right of a firm to omit information under SYSC 4.6.20R. They assume that the firm will prepare a single document under SYSC 4.6.24G. However SYSC 4.6.27G and SYSC 4.6.28G are not intended to take away the right to omit information under SYSC 4.6.20R.
1A firm operating an MTF must have:(1) transparentand non-discretionary rules and procedures for fair and orderly trading;[Note:Article 14(1) of MiFID](2) objective criteria for the efficient execution of orders;[Note: Article 14(1) of MiFID](3) transparent rules regarding the criteria for determining the financial instruments that can be traded under its systems;[Note: Subparagraph 1 of Article 14(2) of MiFID](4) transparent rules, based on objective criteria, governing access
Timely and accurate disclosure of information to the market is a key obligation of listed companies. For the purposes of Listing Principle 13, a listed company should have adequate systems and controls to be able to:3313(1) ensure that it can properly identify information which requires disclosure under the listing rules, disclosure requirements4, transparency rules or corporate governance rules3 in a timely manner; and3(2) ensure that any information identified under (1) is properly
What are reasonable steps for verification of the identity, income and outgoings1 of a customer depends on the circumstances of the case and the type of service offered by the firm. Estimates of expenditure would be reasonable where precise figures are not readily available. The Common Financial Statement includes expenditure guidelines, but where a firm uses the Common Financial Statement or an equivalent or similar statement which includes such guidelines, the use of expenditure
A firm may supplement the first paragraph of text prescribed in MCOB 6.4.4 R (5)(a) to clarify that, while the regulated mortgage contract is not binding until the relevant mortgage document has been signed and funds have been released, the business offer document or high net worth offer document2 may form part of a wider set of negotiated facilities and that the customer is separately bound by these.
Table: FCA-approved persons forms
Form |
Purpose |
Handbook requirement |
|
the relevant Form A |
The relevant online form on the FCA and PRA'sonline notification and application system3 or the form in SUP 10A Annex 4D (See Note) 11 |
Application to perform controlled functions under the approved persons regime |
|
Form B |
Notice to withdraw an application to perform controlled functions under the approved persons regime |
||
Form C |
Notice of ceasing to perform controlled functions |
||
Form D |
Notification of changes in personal information or application details |
||
Form E |
The relevant online form on the FCA and PRA'sonline notification and application system3 system or the form in SUP 10A Annex 8D (See Note) 11 |
Internal transfer of an approved person |
|
Note: The form in the SUP annex shown is to be used by credit unions, and by other firms only in the event of a failure of the information technology systems used by the FCA. See the relevant "Handbook requirement" |
|||
A firm may
not handle client money in accordance
with the rules in this section
unless each of the following conditions is satisfied:(1) the firm must have and maintain systems and controls
which are adequate to ensure that the firm is
able to monitor and manage its client money transactions
and any credit risk arising from the operation of the trust arrangement and,
if in accordance with CASS 5.4.2 R a firm complies
with both the rules in CASS
5.3 and CASS
5.4, such systems and
(1) This provision contains guidance on the requirement in BIPRU 9.11.6 R (1) that the composition of the pool of exposuressecuritised must be known at all times.(2) The composition should be known sufficiently at the time of purchase for the firm to be able accurately to calculate the risk weighted exposure amounts of the pool under the standardised approach.(3) Thereafter, any change to the composition of the pool during the life of the transaction that would lead to an increase
This chapter does not apply for telephone lines which:(1) enable payment service users to request information to which paragraph (2) of regulation 48 of the Payment Services Regulations applies; or(2) relate to the termination of a framework contract, unless:(a) the framework contract was concluded either for a fixed period of more than 12 months or for an indefinite period; and(b) at least 12 months of the framework contract have expired.