Related provisions for SUP App 3.6.1

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PERG 8.21.11GRP
Article 59 is capable of applying to financial promotions in company statements and briefings where they are accompanied by:(1) the whole or any part of the annual accounts of the company (provided it is not an open-ended investment company); or(2) any report prepared and approved by the directors of such a company under sections 414A and 414D of the Companies Act 2006 (strategic reports) or sections 415 and 419 of that Act (directors’ reports), or4 corresponding legislation4
PERG 8.21.16GRP
Article 68 applies where the financial promotion relates to securities which have not yet been admitted to trading but for which application has been or is to be made. It exempts a non-real time or a solicited real-time financial promotion which a relevant EEA market requires to be communicated before admission to trading can be granted. A relevant EEA market for this purpose is a market with its head office in an EEA State and which meets the conditions in Part I of, or is specified
PERG 8.21.20GRP
Article 702 applies to a non-real time financial promotion included in:2(1) listing particulars1; or21(2) supplementary listing particulars1; or21(3) a prospectus or supplementary prospectus approved in line with Prospectus Rules or by the competent authority of another EEA State (provided the requirements of section 87H of the Act are met) – including part of such a prospectus or supplementary prospectus2; or2112(4) any other document required or permitted to be published by
DTR 6.4.3RRP
1An issuer must disclose its Home State to the competent authority of:(1) where applicable, the EEA State where it has its registered office;(2) the Home State; and (3) each Host State.[Note: article 2.1(i) of the TD]
DTR 6.4.4RRP
1Where an issuer has not disclosed its Home State as defined by the second indent of article 2.1(i)(i) of the TD or article 2.1(i)(ii) of the TD in accordance with DTR 6.4.2R and DTR 6.4.3R within a period of three months from the date the issuer’s securities are first admitted to trading on a regulated market, the Home State shall be:(1) the EEA State where the issuer’s securities are admitted to trading on a regulated market; or (2) where the issuer’s securities are admitted
SUP 10C.1.4RRP
2This chapter does not apply to an EEA relevant authorised person if and in so far as the question of whether a person is fit and proper to perform a particular function in relation to that firm is reserved to an authority in a country or territory outside the United Kingdom under:(1) the Single Market Directives;(2) the Treaty;(3) the auction regulation.
SUP 10C.1.5GRP
(1) 2SUP 10C.1.4R reflects the provisions of section 59(8) of the Act and, where relevant, the Treaty.(2) It preserves the principle of Home State prudential regulation. (3) For an EEA relevant authorised person, the effect is to reserve to the Home State regulator the assessment of fitness and propriety of a person performing a function in the exercise of an EEA right. A member of the governing body, or the notified3UKbranchmanager, of an EEA relevant authorised person, acting
IFPRU 11.1.6GRP
(1) RRD applies to credit institutions and to investments firms with an initial capital requirement of €730,000. Together, these are referred to as RRD institutions in our rules.(2) It also applies to financial institutions, financial holding companies and mixed financial holding companies within the same group as these institutions that are subsidiaries of an EEA parent undertaking. An EEA parent undertaking is an institution, a financial holding company or a mixed financial
IFPRU 11.1.7GRP

The table below summarises whether a section of IFPRU 11 applies to a firm or qualifying parent undertaking:

(1) IFPRU 730k firm that is not subject to supervision on a consolidated basis

(2) firm or qualifying parent undertaking that is the EEA parent undertaking of an RRD group

(3) specific application to an IFPRU 730k firm that is a subsidiary of an EEA parent undertaking in another EEA State (note 1)

(4) firm or qualifying parent undertaking that is a subsidiary of an EEA parent undertaking of an RRD group

(5) qualifying parent undertaking that is a mixed activity holding company of an IFPRU 730k firm

IFPRU 11.1 (Application and purpose)

Yes

Yes

No

Yes

Yes

IFPRU 11.2 (Individual recovery plans)

Yes

No

No

No

No

IFPRU 11.3 (Group recovery plans)

No

Yes

Yes

No

No

IFPRU 11.4 (Information for resolution plans)

Yes

Yes

Yes

No

No

IFPRU 11.5 (Intra-group financial support)

No

Yes

Yes - IFPRU 11.5.7 R only

Yes

Yes (note 2)

IFPRU 11.6 (Contractual recognition of bail-in)

Yes

Yes

No

Yes

Yes (note 3)

IFPRU 11.7 (Notifications)

Yes

Yes

No

Yes

Yes

Note 1: IFPRU 11.3.1R (3) and IFPRU 11.4.1R (4) more fully describe this type of firm. Where specific application is not provided for this type of firm, the application is explained by (4).

Note 2: IFPRU 11.5 only applies to mixed activity holding companies of an IFPRU 730k firm in an RRD group.

Note 3: IFPRU 11.6 only applies to mixed activity holding companies that do not hold an RRD institution using an intermediate financial holding company or mixed financial holding company.

ICOBS 3.1.1RRP
1This section applies to a firm that carries on any distance marketing activity from an establishment in the United Kingdom, with or for a consumer in the United Kingdom or another EEA State.
ICOBS 3.1.19RRP
If a firm proposes to enter into a distance contract with a consumer that will be governed by the law of a country outside the EEA, the firm must ensure that the consumer will not lose the protection created by the rules in this section if the distance contract has a close link with the territory of one or more EEA States.[Note: articles 12 and 16 of the Distance Marketing Directive]
DISP 1.3.1RRP
Effective and transparent procedures for the reasonable and prompt handling of complaints must be established, implemented and maintained by:(1) a respondent; and(2) a branch of a UKfirm in another EEA State.[Note: article 10 of the MiFID implementing Directive and article 6(1) of the UCITS implementing Directive]5
DISP 1.3.1BRRP
5A UK UCITS management company must ensure that the procedures it establishes under DISP 1.3.1 R for the reasonable and prompt handling of complaints require that:(1) there are no restrictions on Unitholders exercising their rights in the event that the UCITS is authorised in an EEA State other than the United Kingdom; and(2) Unitholders are allowed to file complaints in any of the official languages of the Home State of the UCITS scheme or EEA UCITS scheme or of any EEA State
DISP 1.2.5AGRP
7DISP 1.2.5 G does not apply to a branch of a UK UCITS management company in another EEA State.
ICOBS 6.2.3RRP
(1) An EEA firm must inform a1customer, before any commitment is entered into, of the EEA State in which the head office or, where appropriate, the branch1 with which the contract is to be concluded, is situated.11(2) Any documents issued to the customer must convey the information required by this rule.[Note: article 184(1) of the Solvency II Directive1]1
ICOBS 6.2.4RRP
An EEA firm must ensure that the1 contract or any other document granting cover, together with the insurance proposal where it is binding upon the customer, states1 the address of the head office, or, where appropriate, of the branch of the firm1 which grants the cover.111[Note: article 184(2) of the Solvency II Directive1]1
EG 8.6.2RP
3Relevant Community obligations which the FCA may need to consider include those under the Capital Requirements Directive, the Solvency II Directive1, the Investment Services Directive/Markets in Financial Instruments Directive,2 the Insurance Mediation Directive and the Market Abuse Regulation2. Each of these legislative acts2 imposes general obligations on the relevant EEAcompetent authority to cooperate and collaborate closely in discharging their functions under the legislative
EG 8.6.3RP
3The FCA views this cooperation and collaboration as essential to effective regulation of the international market in financial services. It will therefore exercise its own-initiative powers wherever: (1) an EEACompetent authority requests it to do so; and (2) it is satisfied that the use of the power is appropriate (having regard to the considerations set out at paragraphs 8.2.1 to 8.2.6) to enforce effectively the regulatory requirements imposed under the Single Market Directives
COLL 12.1.1RRP
(1) 1COLL 12.1 (Introduction) - COLL 12.3 (EEA UCITS management companies) apply to:(a) a UK UCITS management company that operates an EEA UCITS scheme; and(b) (i) an EEA UCITS management company that acts as:(A) (A) the authorised fund manager2 of an AUT or ACS;2 or2(B) (B) the ACD of an ICVC;(ii) any other director of an ICVC; and (iii) an ICVC;that is a UCITS scheme.(c) COLL 12.4 (UCITS product passport) applies in accordance with COLL 12.4.1 R (Application).
COLL 12.1.2GRP
(1) This chapter contains rules and guidance relating to the operation of the management company passport under the UCITS Directive and explains how the passporting regime applies to:(a) a UK UCITS management company that operates an EEA UCITS scheme; and (b) an EEA UCITS management company that acts as the authorised fund manager2 of an AUT, ACS2 or ICVC that is a UCITS scheme;22whether from a branch it establishes in an EEA State other than its Home State or under the freedom
MCOB 2.7A.1RRP
1This section applies to a firm carrying on an electronic commerce activity from an establishment in the United Kingdom, with or for a person in the United Kingdom or another EEA state, in relation to a home finance transaction.
MCOB 2.7A.2RRP
A firm must make at least the following information easily, directly and permanently accessible to the recipients of the information society services it provides:(1) its name;(2) the geographic address at which it is established;(3) the details of the firm, including its e-mail address, which allow it to be contacted rapidly and communicated with in a direct and effective manner;(4) an appropriate statutory status disclosure statement (GEN 4 Annex 1 R), together with a statement
PERG 9.6.5GRP
Certain matters are to be disregarded in determining whether the investment condition is satisfied. Section 236(4) of the Act states that, for these purposes, no account is to be taken of any actual or potential redemption or repurchase of shares or securities under:(1) Chapters 3 to 71 of Part 181 of the Companies Act 2006;1or1(2) [deleted]11(3) corresponding provisions in force in another EEA State; or(4) provisions in force in a country or territory other than an EEA State
PERG 9.6.6GRP
The FCA considers that the reference in PERG 9.6.5 G (3) to corresponding provisions in force in another EEA State will include provisions that derive from the maintenance of capital requirements of the Second Council Directive on co-ordination of safeguards which, for the protection of the interests of members and others, are required by Member States of companies (77/91/EEC).
SUP 17.1.2GRP
1Article 32(7) of MiFID requires the FCA to apply the transaction reporting requirements in Article 25 to the UKbranches of EEA investment firms and branches of credit institutions in respect of reportable transactions arising in the course of services provided in the UK.
SUP 17.1.3GRP
1Article 32(7) of MiFID provides that the branch of a UK firm operating from an establishment in another EEA state must satisfy the transaction reporting requirements of the competent authority in that other Member State in respect of reportable transactions arising in the course of services provided in that other Member State.
REC 1.1.1AGRP
The guidance in REC 6A applies to EEA market operators exercising passporting rights in the United Kingdom. 2
REC 1.1.3GRP
(1) The recognition requirements for UK recognised bodies and the MiFID implementing requirements2are set out, with guidance, in REC 2. The RAP recognition requirements (other than requirements under the auction regulation which are not reproduced in REC) are set out, with guidance, in REC 2A.3(2) The notification rules for UKrecognised bodies are set out in REC 3 together with guidance on those rules.(3) Guidance on the FCA's4 approach to the supervision of recognised bodies
PR 2.1.1UKRP

1Sections 87A(2), (2A), 2(3) and (4) of the Act provide for the general contents of a prospectus:

(2)

The necessary information is the information necessary to enable investors to make an informed assessment of –

(a)

the assets and liabilities, financial position, profits and losses, and prospects of the issuer of the transferable securities and of any guarantor; and

(b)

the rights attaching to the transferable securities.2

2(2A)

If, in the case of transferable securities to which section 87 applies, the prospectus states that the guarantor is a specified EEA State, the prospectus is not required to include other information about the guarantor.

(3)

The necessary information must be presented in a form which is comprehensible and easy to analyse.

(4)

The necessary information must be prepared having regard to the particular nature of the transferable securities and their issuer.6

266
PR 2.1.7RRP
The summary must also contain a warning to the effect that:(1) it should be read as an introduction to the prospectus;(2) any decision to invest in the transferable securities should be based on consideration of the prospectus as a whole by the investor; (3) where a claim relating to the information contained in a prospectus is brought before a court, the plaintiff investor might, under the national legislation of the EEA States, have to bear the costs of translating the prospectus
SYSC 19A.1.1RRP
(1) 1The Remuneration Code applies to:33(a) [deleted]63(b) [deleted]63(c) an IFPRU investment firm;6 and73(d) 3an overseas firm that:(i) 3is not an EEA firm;(ii) 3has its head office outside the EEA; and(iii) 3would be an IFPRU investment firm7 if it had been a UK domestic firm, had carried on all its business in the UK and had obtained whatever authorisations for doing so as are required under the Act. (2) In relation to a 3firm that falls under (1)(d), the Remuneration Code
SYSC 19A.1.2GRP
Part 2 of SYSC 1 Annex 1 provides for the application of SYSC 4.1.1 R (General Requirements). In particular, and subject to the provisions on group risk systems and controls requirements in SYSC 12, this means that:(1) in relation to what the Remuneration Code applies to, it:(a) applies in relation to regulated activities, activities that constitute dealing in investments as principal (disregarding the exclusion in article 15 of the Regulated Activities Order (Absence of holding
COLL 1.2.2GRP
(1) UCITS schemes have to comply with the conditions necessary in order to enjoy the rights available under the UCITS Directive. Such schemes must in particular comply with:(a) COLL 3.2.8 R (UCITS obligations); and(b) the investment and borrowing powers rules for UCITS schemes set out in COLL 5.2 to COLL 5.5 .(2) (a) 5Non-UCITS retail schemes are schemes that do not comply with all the conditions set out in the UCITS Directive.(b) 5A non-UCITS retail scheme is an AIF and must
COLL 1.2.5GRP
(1) 5Except for (2), all provisions of the Handbook that apply:(a) to a feeder UCITS are also applicable to a pension feeder fund that is constituted as a UCITS scheme; and(b) to a feeder NURS are also applicable to a pension feeder fund that is constituted as a non-UCITS retail scheme.(2) A pension feeder fund may not invest in units of an EEA UCITS scheme unless that scheme is a recognised scheme under section 264 of the Act (see COLL 5.6.27R and COLL 5.8.2AR).
DTR 4.1.6RRP
(1) If an issuer is required to prepare consolidated accounts according to the Seventh Council Directive 83/349/EEC, the audited financial statements must comprise:(a) consolidated accounts prepared in accordance with IFRS, and(b) accounts of the parent company prepared in accordance with the national law of the EEA State in which the parent company is incorporated. [Note: article 4(3) of the TD](2) If an issuer is not required to prepare consolidated accounts, the audited financial
DTR 4.1.7RRP
(1) If an issuer is required to prepare consolidated accounts, the financial statements must be audited in accordance with Article 37 of the Seventh Council Directive 83/349/EEC.(2) If an issuer is not required to prepare consolidated accounts the financial statements must be audited in accordance with Articles 51 and 51a of the Fourth Council Directive 78/660/EEC.(3) The audit report, signed by the person or persons responsible for auditing the financial statements must be disclosed
COLL 6.11.1RRP
(1) 1This section applies to:(a) an authorised fund manager of a UCITS scheme; and(b) a UK UCITS management company providing collective portfolio management services for an EEA UCITS scheme from a branch in another EEA State or under the freedom to provide cross border services.(2) This section does not apply to an EEA UCITS management company providing collective portfolio management services for a UCITS scheme under the freedom to provide cross border services.
COLL 6.11.2RRP
(1) An authorised fund manager of a UCITS scheme or a UK UCITS management company of an EEA UCITS scheme must establish and maintain a permanent risk management function.(2) The function referred to in (1) must be hierarchically and functionally independent from operating units, except where such independence would not be appropriate and proportionate in view of the nature, scale and complexity of the authorised fund manager’s or UK UCITS management company’s business and of
SUP 10C.4.2RRP
(1) Part 1 of the table in SUP 10C.4.3R applies to UK relevant authorised persons2.(2) Part 2 of the table in SUP 10C.4.3R applies to EEA relevant authorised persons.2(3) Part 3 of the table in SUP 10C.4.3R applies to third-country relevant authorised persons.2
SUP 10C.4.3RRP

Table of FCA-designated senior management functions for relevant authorised persons

1Part One: (FCA-designated senior management functions for relevant authorised persons)

Type

SMF

Description of FCA controlled function

FCA governing functions

SMF 3

Executive director function

SMF 13

Chair of the nomination committee function

FCA required functions

SMF 16

Compliance oversight function

SMF 17

Money laundering reporting function

SMF 18

Other overall responsibility function

2Part Two: (FCA-designated senior management functions for EEA relevant authorised persons)

Type

SMF

Description of FCA controlled function

FCA required functions

SMF 17

Money laundering reporting function

SMF 21

EEA branch senior manager function

2Part3Three: (FCA-designated senior management functions for third-country relevant authorised persons)

Type

SMF

Description of FCA controlled function

FCA governing function

SMF3

Executive3director function

FCA required functions

SMF16

Compliance oversight function

SMF17

Money laundering reporting function

SMF22

Other local responsibility function