Related provisions for SYSC 22.8.1

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SYSC 19A.1.5RRP
(1) This rule applies to a firm that is unable to comply with the Remuneration Code because of an obligation it owes to a Remuneration Code staffmember under a provision of an agreement made on or before 29 July 2010 (the "provision").(2) A firm must take reasonable steps to amend or terminate the provision referred to in (1) in a way that enables it to comply with the Remuneration Code at the earliest opportunity.(3) Until the provision referred to in (1) ceases to prevent the
SYSC 19A.1.8GRP
The FCA's policy on individual guidance is set out in SUP 9. Firms should in particular note the policy on what the FCA considers to be a reasonable request for guidance (see SUP 9.2.5 G). For example, where a firm is seeking guidance on a proposed remuneration structure the FCA will expect the firm to provide a detailed analysis of how the structure complies with the Remuneration Code, including the general requirement for remuneration policies, procedures and practices to be
GENPRU 1.3.13RRP
(1) Except to the extent that GENPRU or BIPRU14 provide for another method of valuation, GENPRU 1.3.14 R to GENPRU 1.3.34 R (Marking to market, Marking to model, Independent price verification or Valuation adjustments14) apply:99(a) for the purposes set out in GENPRU 1.3.41 R;(b) for the purposes set out in GENPRU 1.3.39 R; and(c) to any balance sheet position measured at market value or fair value.(2) A firm must establish and maintain systems and controls sufficient to provide
GENPRU 1.3.22RRP
A firm must establish formal change control procedures, hold a secure copy of the model, and periodically use that model to check valuations.
GENPRU 1.3.33RRP
(1) This paragraph sets out the requirements referred to in GENPRU 1.3.30 R and GENPRU 1.3.32 R.(2) A firm must consider the following adjustments14: unearned credit spreads, close-out costs, operational risks, early termination, investing and funding costs, future administrative costs and, where appropriate, model risk.9(3) 9(a) In the case of a BIPRU firm, a firm must establish and maintain procedures for calculating adjustments to the current valuation of less liquid positions.
BIPRU 12.7.11RRP
(1) For the purpose of BIPRU 12.7.9R (3), a firm1 must periodically realise a proportion of the assets in its liquid assets buffer through repo or outright sale to the market.1(2) [deleted]11(3) A firm must ensure that in carrying out such periodic realisation:(a) it does so without reference to the firm's day-to-day liquidity needs;(b) it realises in varying amounts the assets in its liquid assets buffer;(c) the cumulative effect of its periodic realisation over any twelve month
BIPRU 12.7.12GRP
The appropriate regulator will, as part of its review of a firm'sILAA or, as the case may be, its ILSA, assess the adequacy of a firm's periodic realisation policy and its implementation in practice.
SYSC 6.2.1BGRP
(1) 6This guidance is relevant to a relevant authorised person required to establish and maintain an internal audit function under SYSC 6.2.1R.(2) Taking account of the nature, scale and complexity of its activities, the firm should have appropriate procedures to ensure that the removal or any other disciplinary sanctioning of the head of the internal audit function does not undermine the independence of the internal audit function.(3) In the FCA's view, it will be appropriate,
SYSC 6.2.2GRP
(1) The term 'internal audit function' in SYSC 6.2.1R (and SYSC 4.1.11G) refers to the generally understood concept of internal audit within a firm, that is, the function of assessing adherence to and the effectiveness of internal systems and controls, procedures and policies.6(2) 6For a firm that is not a relevant authorised person, the internal audit function is not a controlled function itself, but is part of the systems and controls function or the PRA's systems and controls
SYSC 14.1.28GRP
The precise role and organisation of internal controls can vary from firm to firm. However, a firm'sinternal controls should normally be concerned with assisting its governing body and relevant senior managers to participate in ensuring that it meets the following objectives:(1) safeguarding both the assets of the firm and its customers, as well as identifying and managing liabilities;(2) maintaining the efficiency and effectiveness of its operations;(3) ensuring the reliability
SYSC 14.1.29AGRP
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
IFPRU 4.4.6GRP
A firm should have clear and documented standards and policies about the use of data in practice (including information technology standards) which should, in particular, cover the firm's approach to the following:(1) data access and security;(2) data integrity, including the accuracy, completeness, appropriateness and testing of data; and(3) data availability.[Note: article 144(1)(a) of the EU CRR)
IFPRU 4.4.7GRP
For the FCA to be satisfied that a firm documents its ratings systems appropriately, in accordance with article 144(1)(e) of the EU CRR, it would expect a firm to be able to demonstrate that it has an appropriate policy for any ratings system in relation to:(1) any deficiencies caused by its not being sensitive to movements in fundamental risk drivers or for any other reason;(2) the periodic review and action in the light of such review;(3) providing appropriate internal guidance
LR 7.2.1RRP

The Listing Principles are as follows:

Listing3 Principle 1

A listed company must take reasonable steps to establish and maintain adequate procedures, systems and controls to enable it to comply with its obligations.3

3

Listing3 Principle 2

A listed company must deal with the FCA in an open and co-operative manner.3

3

Principle 3

[deleted]3

3

Principle 4

[deleted]3

3

Principle 5

[deleted]3

3

Principle 6

[deleted]3

3
LR 7.2.2GRP
Listing Principle 13 is intended to ensure that listed companies have adequate procedures, systems and controls to enable them to comply with their obligations under the listing rules, disclosure requirements4, transparency rules and corporate governance rules.3 In particular, the FCA considers that listed companies should place particular emphasis on ensuring that they have adequate procedures, systems and controls in relation to, where applicable:333(1) identifying whether any
LR 15.6.2RRP
In addition to the requirements in LR 9.8 (Annual financial report), a closed-ended investment fund must include in its annual financial report:(1) a statement (including a quantitative analysis) explaining how it has invested its assets with a view to spreading investment risk in accordance with its published investment policy; (2) a statement, set out in a prominent position, as to whether in the opinion of the directors, the continuing appointment of the investment manager
LR 15.6.8RRP
A closed-ended investment fund must notify to 1a RIS within five business days of the end of each quarter a list of all investments in other listedclosed-ended investment funds, as at the last business day of that quarter, which themselves do not have stated investment policies to invest no more than 15% of their total assets in other listedclosed-ended investment funds.11
IFPRU 6.1.3RRP
(1) Where a firm has a position in a financial instrument for which no treatment has been specified in the EU CRR, it must calculate its own funds requirement by applying the most appropriate requirement relating to positions that are specified in the EU CRR, if doing so is prudent and appropriate, and if the position is sufficiently similar to those covered by the relevant requirement.(2) A firm must document its policies and procedures for calculating own funds for such positions
IFPRU 6.1.13GRP
A firm should have adequate systems and controls in place when using pricing models to calculate deltas. This should include the following documented policies and procedures:(1) clearly defined responsibilities of the various areas involved in the calculation;(2) frequency of independent testing of the accuracy of the model used to calculate delta; and(3) guidelines for the use of unobservable inputs, where relevant.
REC 2.14.4GRP
(1) In determining whether a UK recognised body's procedures include procedures for consulting users of its facilities in appropriate cases, the FCA3 may have regard to whether those procedures include provision for consulting users of those facilities before changes are made to any rules relating to its regulatory functions. 3(2) In the FCA's3 view, a UK recognised body's procedures may not need to contain provision for consulting users of its facilities before making minor changes
REC 2.14.5GRP
(1) In determining whether a UK recognised body's procedures for consulting members and other users of its facilities are appropriate, the FCA3 may have regard to the range of persons to be consulted by the UK recognised body under those procedures. 3(2) In the FCA's3 view, consultation with a smaller range of persons may be appropriate where limited, technical changes to a UK recognised body's rules are proposed.3(3) In the FCA's3 view, a UK recognised body's procedures may include
SYSC 6.3.1RRP
A firm must ensure the policies and procedures established under SYSC 6.1.1 R include systems and controls that:1(1) enable it to identify, assess, monitor and manage money laundering risk; and(2) are comprehensive and proportionate to the nature, scale and complexity of its activities.
SYSC 6.3.7GRP
A firm should ensure that the systems and controls include:1(1) appropriate training for its employees in relation to money laundering;(2) appropriate provision of information to its governing body and senior management, including a report at least annually by that firm'smoney laundering reporting officer (MLRO) on the operation and effectiveness of those systems and controls;(3) appropriate documentation of its risk management policies and risk profile in relation to money laundering,
BIPRU 4.2.5GRP
(1) This paragraph provides guidance on BIPRU 4.2.2 R and in particular BIPRU 4.2.2 R (1).(2) The information that a firm produces or uses for the purpose of the IRB approach should be reliable and take proper account of the different users of the information produced (customers, shareholders, regulators and other market participants).(3) A firm should establish quantified and documented targets and standards, against which it should test the accuracy of data used in its rating
BIPRU 4.2.8GRP
This paragraph provides further guidance on BIPRU 4.2.2 R and in particular BIPRU 4.2.2 R (2). In the appropriate regulator's view risk management has an essential role in informing risk decisions. However, an essential role does not necessarily mean an exclusive role or even always a primary role. There may be justifiable differences between the IRB approach and the firm's use of rating systems for its internal purposes as referred to in BIPRU 4.2.2 R (2). For example, internal
BIPRU 4.2.27GRP
As part of the application for an IRB permission, a firm should have a well documented policy explaining the basis on which exposures are to be selected for permanent exemption from the IRB approach and for treatment under the standardised approach. The firm's roll out plan should also contain provisions for the continuing application of that policy on a consistent basis over time.
COLL 5.2.7DGRP
(1) 7An authorised fund manager should not invest the scheme property of a UCITS scheme in units of a closed end fund for the purpose of circumventing the investment limits set down in this section.(2) When required to assess whether the corporate governance mechanisms of a closed end fund in contractual form are equivalent to those applied to companies, the authorised fund manager should consider whether the contract on which the closed end fund is based provides its investors
COLL 5.2.23CRRP
(1) 13For the purposes of COLL 5.2.23 R (2), an authorised fund manager of a UCITS scheme or a UK UCITS management company of an EEA UCITS scheme must:(a) establish, implement and maintain arrangements and procedures which ensure appropriate, transparent and fair valuation of the exposures of a UCITS scheme or an EEA UCITS scheme to OTC derivatives; and(b) ensure that the fair value of OTC derivatives is subject to adequate, accurate and independent assessment.(2) Where the
COLL 5.2.31RRP
(1) Notwithstanding COLL 5.2.11 R (Spread: general), a7UCITS scheme may invest up to 20% in value of the scheme property in shares and debentures which are issued by the same body where the investment policy of that scheme as stated in the most recently published prospectus is to replicate the composition of a relevant index which satisfies the criteria specified in COLL 5.2.33 R (Relevant indices).7(1A) Replication of the composition of a relevant index shall be understood to
CASS 5.5.19RRP
A firm must establish and maintain procedures to ensure that client money received by its appointed representatives, field representatives, or other agents of the firm is:(1) paid into a client bank account of the firm in accordance with CASS 5.5.5 R; or(2) forwarded to the firm, or in the case of a field representative forwarded to a specified business address of the firm, so as to ensure that the money arrives at the specified business address by the close of the third busi
CASS 5.5.20GRP
For the purposes of CASS 5.5.19 R, the client money received on business day one should be forwarded to the firm or specified business address of the firm no later than the next business day after receipt (business day two) in order for it to reach that firm or specified business address by the close of the third business day. Procedures requiring the client money to be sent to the firm or the specified business address of the firm by first class post no later than the next business day
CASS 5.5.32GRP
If a firm outlines its policy on its payment of interest, it need not necessarily disclose the actual rates prevailing at any particular time; the firm should disclose the terms, for example, LIBOR plus or minus 'x' percentage points.
COBS 3.8.1RRP
A firm must implement appropriate written internal policies and procedures to categorise its clients. [Note: fourth paragraph of section II.2 of annex II to MiFID]
CASS 1.5.2GRP
For any electronic communication with a customer, a firm should:(1) have in place appropriate arrangements, including contingency plans, to ensure the secure transmission and receipt of the communication; it should also be able to verify the authenticity and integrity of the communication; the arrangements should be proportionate and take into account the different levels of risk in a firm's business;(2) be able to demonstrate that the customer wishes to communicate using this
CONC 14.1.4RRP
Where a firm appoints an agent in accordance with CONC 14.1.2 R to carry on the business of the firm:(1) the firm must establish, implement and maintain adequate policies and procedures sufficient to ensure compliance of the agent with the firm's obligations under the regulatory system; and (2) the firm must take all reasonable steps to identify conflicts of interest between the agent and a client of the firm that arise or may arise in the course of the firm carrying on regulated
MAR 5.5.1RRP
6A firm operating an MTF must:(1) have effective arrangements and procedures, relevant to the MTF, for the regular monitoring of the compliance by its users with its rules; and(2) monitor the transactions undertaken by its users under its systems in order to identify breaches of those rules, disorderly trading conditions or conduct that may involve market abuse.[Note: Article 26(1) of MiFID]