Related provisions for CASS 5.5.52
41 - 60 of 100 items.
(1) A CAD Article 22 group means a UK consolidation group or non-EEA sub-group that meets the conditions in this rule.(2) There must be no bank, building society or2credit institution2 in the UK consolidation group or non-EEA sub-group and any investment firm in the UK consolidation group or non-EEA sub-group must not be subject to consolidated supervision under the EU CRR2.11(3) Each CAD investment firm in the UK consolidation group or non-EEA sub-group which is an EEA firm
Types of reports. See SUP 6.4.15 G
Category of firm |
Type of report |
a bank or building society |
• an audited balance sheet which confirms that, in the auditor's opinion, the firm has no remaining deposit liabilities to customers; • a report from auditors or reporting accountants; |
• a report from auditors or reporting accountants |
|
an insurer |
• an audited closing balance sheet which demonstrates that the firm has no insurance liabilities to policyholders; • a report from the auditors or reporting accountants; and • in some cases, an actuarial opinion as to the likelihood of any remaining liabilities to policyholders. |
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.
(1) A firm is not required to effect or maintain professional indemnity insurance if a bank, building society or an insurer provides the firm with a comparable guarantee.(2) If the firm is a member of a group in which there is a bank, building society or an insurer, the firm's comparable guarantee must be from that bank, building society or insurer.(3) A comparable guarantee means an enforceable, written agreement on terms at least equal to those required by
(1) The dual-regulated firms Remuneration Code applies to:(a) a building society;(b) a UK bank2;(c) a UK designated investment firm;(d) an overseas firm that;(i) is not an EEAfirm;(ii) has its head office outside the EEA; and(iii) would be a firm in (a), (b) or (c) if it had been a UK domestic firm, had carried on all of its business in the United Kingdom and had obtained whatever authorisations for doing so as are required under the Act.(2) For a firm which falls under (1)(a),
2An authorised fund manager must ensure that the depositary it appoints under COLL 6.6A.7R is a firmestablished in the United Kingdom that has the Part 4A permission of acting as trustee or depositary of a UCITS and is one of the following:(1) a national central bank; or(2) a credit institution; or(3) a firm which: (a) has own funds of not less than the higher of: (i) the requirement calculated in accordance with articles 315 or 317 of the EU CRR; or(ii) £4million; and(b) either:
Article 53(1)3 does not apply to advice given on any of the following:(1) deposit or other bank or building society accounts (but note that providing basic advice on a stakeholder product including stakeholder deposit accounts is a separate regulated activity under article 52A of the Regulated Activities Order - see the guidance in PERG 2.7.14A G (Providing basic advice on stakeholder products));(2) interests under the trusts of an occupational pension scheme (but rights under
Notwithstanding BIPRU 3.6.20 R, when an exposure arises through a firm's participation in a loan that has been extended by a multilateral development bank whose preferred creditor status is recognised in the market, the credit assessment on the obligors' domestic currency item may be used for risk weighting purposes.[Note: BCD Annex VI Part 3 point 17]
The conditions referred to in INSPRU 3.2.38R (1) are that the letter of credit is:(1) direct, explicit, unconditional and irrevocable; and(2) issued by an undertaking which is:(a) not a related undertaking of the counterparty; and(b) either an approved credit institution or a bank, or a branch of a bank, whether chartered by the federal government of the United States of America or a US state, that is supervised and examined by at least one of the following US federal banking
3Pursuant to the third paragraph of article 95(2) of the EUCRR, the purpose of this section is to implement Articles 70 and 118 of the Banking Consolidation Directive3so far as they apply under Articles 2 and 28 of the Capital Adequacy Directive to CAD investment firms3 that are subject to the requirements imposed by MiFID (or which would have been subject to that Directive if its head office were in an EEA State), but excluding a bank, building society, a credit institution,
The instructions referred to at CASS 8.2.1 R (4) are all instructions given by a firm to another person who also has a relationship with the firm'sclient. For example, the other person may be the client'sbank, intermediary, custodian or credit card provider. This means, for example, that any means by which a firm can control a client's money or assets for which it is itself responsible to the client (rather than any other person) would not amount to a mandate. This includes where
An example of a rule20 being interpreted as cut back by GEN 2.2.23R is SYSC 6.1.1R, which requires a firm to maintain adequate policies and procedures to ensure compliance with its obligations under the regulatory system; SYSC 6.1.1R should be interpreted as applied by the FCA in respect of a PRA-authorised person’s compliance with regulatory obligations that are the responsibility of the FCA (for example, in respect of a bank maintaining policies and procedures to ensure compliance