Related provisions for SUP 13A.5.4A

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To access the FCA Handbook Archive choose a date between 1 January 2001 and 31 December 2004 (From field only).

SYSC 2.2.4RRP
(1) 1A Solvency II firm (including a large non-directive insurer)2 must have, and maintain, a governance map which satisfies the following conditions:(a) it complies, as applicable,2 with PRA Rulebook: Solvency II firms: Insurance – Allocation of Responsibilities, 5.1 and 5.2, or PRA Rulebook: Large Non-Solvency II firms – Allocation of Responsibilities, 5.1 and 5.2,2 as if those rules had been made by the FCA; (b) it includes details relating to all persons carrying out a significant
SYSC 2.2.6RRP
2A small non-directive insurer must keep an up-to-date record of the scope of responsibilities for each approved person performing a significant influence function and must:(1) retain each version of the record for six years from the date on which it was superseded by a more up-to-date record;(2) be in a position to provide any version of the record in (1) to the FCA on request;(3) ensure that the record in (1) and each updated version:(a) has the form and content, subject to
COND 2.2.1CGRP
5The FCA is not responsible for the location of offices threshold condition for firms carrying on, or seeking to carry on, regulated activities which include a PRA-regulated activity.
SUP 16.12.4RRP

Table of applicable rules containing data items4, frequency and submission periods

(1)

(2)

(3)

(4)

RAGnumber

Regulated Activities

Provisions containing:

applicabledata items

reporting frequency/ period

due date32

32
271212 37

RAG 1

• accepting deposits

• meeting of repayment claims76

managing dormant account funds (including the investment of such funds)76

RAG 1 firms should complete their prudential reporting requirements as set out in the PRA Rulebook.76

RAG 2.1

• effecting contracts of insurance

• carrying out contracts of insurance

• entering as provider into a funeral plan contract

71

2

71

2

71

2

RAG 2.2

• managing the underwriting capacity of a Lloyds syndicate as a managing agent at Lloyds

• advising on syndicate participation at Lloyds

• arranging deals in contracts of insurance written at Lloyds

SUP 16.12.9 R2

SUP 16.12.9 R2

SUP 16.12.9 R2

RAG 3

• dealing in investment as principal

• dealing in investments as agent

• advising on investments (except P2P agreements) 67 (excluding retail investment activities)

• arranging (bringing about) deals in investments (excluding retail investment activities)

• advising on P2P agreements (when carried on exclusively with or for professional clients)67

SUP 16.12.10 R2

SUP 16.12.11 R78except FSA001 and FSA002 on consolidated basis for FINREP firms37

37

SUP 16.12.10 R2SUP 16.12.12 R78

37

SUP 16.12.10 R2SUP 16.12.13 R

RAG 4

• managing investments

• establishing, operating or winding up a collective investment scheme

• establishing, operating or winding up a stakeholder pension scheme

• establishing, operating or winding up a personal pension scheme2

• managing an AIF38

• managing a UCITS38

5

• operating an electronic system in relation to lending (FCA-authorised persons only)48

3838

SUP 16.12.14 R2

SUP 16.12.15 R78, except FSA001 and FSA002 on consolidated basis for FINREP firms37

37

SUP 16.12.14 R2SUP 16.12.16 R78

37

SUP 16.12.14 R2SUP 16.12.17 R

RAG 5

• home finance administration or home finance providing activity11

11

76SUP 16.12.18BR 37 and SUP 16.12.18C R58

258

76SUP 16.12.18BR 37 and SUP 16.12.18C R58

258

76SUP 16.12.18BR 37 and SUP 16.12.18C R58

258

RAG 6

• safeguarding and administration of assets (without arranging)

• arranging safeguarding and administration of assets

• acting as trustee or depositary of an AIF38

• acting as trustee or depositary of a UCITS38

384038

SUP 16.12.19A R2

SUP 16.12.20 R2

SUP 16.12.21 R2

RAG 7

• retail investment activities

• advising on P2P agreements (except when carried on exclusively with or for professional clients)67

• advising on pensions transfers & opt-outs

• arranging (bringing about deals) in retail investments

SUP 16.12.22A R78except FSA001 and FSA002 on consolidated basis for FINREP firms37

37

SUP 16.12.23A R78

3737

SUP 16.12.24AR78

RAG 8

• making arrangements with a view to transactions in investments

• operating a multilateral trading facility4

• operating an organised trading facility35

SUP 16.12.25A R except FSA001 and FSA002 on consolidated basis for FINREP firms7837

37

SUP 16.12.26 R

SUP 16.12.27 R

RAG 9

• home finance mediation activity14

• insurance mediation activity (non-investment insurance contracts)

14

SUP 16.12.28A R14

SUP 16.12.28A R14

SUP 16.12.28A R14

RAG 10

• the activities of an RIE96

96

SUP 16.12.29 G2

SUP 16.12.29 G2

SUP 16.12.29 G232

32RAG 11

bidding in emissions auctions

SUP 16.12.29A R

SUP 16.12.29A R

SUP 16.12.29A R

47RAG 12 71

• credit-related regulated activity

SUP 16.12.29C R

SUP 16.12.29C R

SUP 16.12.29C R
SUP 1A.3.8GRP
While respecting each regulator's different statutory objectives and mandates, in undertaking its supervisory activity the FCA will co-ordinate and co-operate with the PRA as required and necessary in the interests of the effective and efficient supervision of regulated firms and individuals. Both regulators will coordinate with each other as required under the Act, including on the exchange of information relevant to each regulator's individual objectives. However, the FCA and
SUP 13.4.4AGRP
20Where the PRA is the appropriate UK regulator, it will consult the FCA before deciding whether to give a consent notice and where the FCA is the appropriate UK regulator, it will consult the PRA before deciding whether to give a consent notice in relation to a UK firm whose immediate group includes a PRA-authorised person.
EG 9.3.8RP
2The FCA will consult the PRA before withdrawing an approval given by the PRA.
SUP 15.6.2GRP
SUP 15.6.1 R applies also in relation to rules outside this chapter, and even if they are not notification rules. Examples of rules and chapters to which SUP 15.6.1 R is relevant, are:(1) Principle 11, and the guidance on Principle 11 in SUP 2 (Information gathering by the FCA and PRA99 on their9 own initiative);9(2) SUP 15 (Notifications to the FCA3):99(3) SUP 16 (Reporting requirements); (4) SUP 17 (Transaction reporting); 1(5) any notification rule (see Schedule 2 which contains
SUP 13.3.5AGRP
20Where the PRA is the appropriate UK regulator, it will consult the FCA before deciding whether to give a consent notice, except where paragraph 19(7A) of Part III of Schedule 3 to the Act applies. Where the FCA is the appropriate UK regulator, it will consult the PRA before deciding whether to give a consent notice in relation to a UK firm whose immediate group includes a PRA-authorised person.
10A.8.1ARRP
2For a Solvency II firm which is an insurance special purpose vehicle or a third-country insurance or reinsurance undertaking, the systems and controls function is modified as follows:(1) it does not include any of the activities described in any PRA controlled function if that controlled function applies to the firm;(2) it does not include activities allocated to and carried on by another person who is a PRA approved person; and(3) it only includes that part of the function that
SUP 10A.8.3GRP
(1) The systems and controls function does not apply in relation to a PRA-authorised person. PRA approval is required instead.2(2) The exception is a Solvency II firm which is an insurance special purpose vehicle or a third-country insurance or reinsurance undertaking. For such firms, FCA approval may be required but only to the extent that the activities are not already covered by a PRA controlled function that applies to the firm or are not activities allocated to and carried
MIPRU 2.2.2RRP
The firm may allocate the responsibility for its insurance mediation activity or MCD credit intermediation activity54 to an approved person (or persons) who is:5(1) (if the firm is not a relevant authorised person): 5(a) performing:5(i) an FCA governing function; or5(ii) a PRA governing function;5(other than a person who is a5non-executive director of the firm5); or(b) performing5 the apportionment and oversight function; or(c) performing5 the significant management function in
MIPRU 2.2.3GRP
(1) Typically a firm will appoint a director who is an approved person of that firm5 to direct its insurance mediation activity or MCD credit intermediation activity45. A firm that is not a relevant authorised person may also appoint a person performing another FCA governing function or PRA governing function.5(1A) A firm should not appoint someone performing one of the FCA’s or PRA’s non-executive directorcontrolled functions or any other non-executive director.5(1B) Where5 responsibility
SUP 6.1.3AGRP
(1) 7In SUP 6 the "relevant regulator" is the regulator to which a firm with a Part 4A permission has made or can make (in accordance with SUP 6) an application to vary or cancel its Part 4A permission or to have imposed on it a new requirement or to vary or cancel any existing requirement (see SUP 6.2.3A G to SUP 6.2.3E G).(2) Where the PRA can only determine an application with the consent of the FCA, the FCA may request further information as if it were the relevant regulator.(3)
SUP 6.1.5GRP
This chapter also outlines the relevant regulator's powers to withdraw authorisation from a firm whose Part 4A permission7 has been cancelled at the firm's request.727
SUP 10A.2.3GRP
The FCA has certain powers in relation to PRA-approved persons, such as the requirement to give its consent in certain cases to the PRA granting approval for the performance of a PRA controlled function. SUP 10A does not deal with these.
PERG 2.10.10GRP
But under section 316 of the Act (Direction by a regulator) the general prohibition does not apply to a person who is a member of the Society of Lloyds unless the FCA or PRA has made a direction that it should apply. The general prohibition is disapplied in relation to any regulated activity carried on by a member relating to contracts of insurance written at Lloyds. Directions can be made by the FCA or PRA in relation to individual members or the members of the Society of Lloyds
COCON 1.1.2RRP

Table: To whom does COCON apply? 9

    9Persons to whom COCON applies

    Comments9

    (1) An SMF manager.9

    (2) An employee (“P”) of a relevant authorised person who:9

    (a) performs the function of an SMF manager;9

    (b) is not an approved person to perform the function in question; and9

    (c) is required to be an approved person at the time P performs that function.9

    (3) An employee of a relevant authorised person who would be an SMF manager but for SUP 10C.3.13R (The 12-week rule). 9

    (4) A certification employee employed by a relevant authorised person.9

    This applies even if the certification employee has not been notified that COCON applies to them or notified of the rules that apply to them.9

    (5) An employee of a relevant authorised person who would be a certification employee but for SYSC 5.2.27R(1) (Scope: emergency appointments) or SYSC 5.2.28AR (Scope: temporary UK role). 9

    (6) Any employee of a relevant authorised person not coming within another row of this table, except one listed in column (2). 9

    This row does not apply to an employee of a relevant authorised person who only performs functions falling within the scope of the following roles:9

    (a) receptionists;

    (b) switchboard operators;

    (c) post room staff;

    (d) reprographics/print room staff;

    (e) property/facilities management;

    (f) events management;

    (g) security guards;

    (h) invoice processing;

    (i) audio visual technicians;

    (j) vending machine staff;

    (k) medical staff;

    (l) archive records management;

    (m) drivers;

    (n) corporate social responsibility staff;

    (o) data controllers or processors under the Data Protection Act 1998;

    (p) cleaners;

    (q) catering staff;

    (r) personal assistant or secretary;

    (s) information technology support (ie, helpdesk); and

    (t) human resources administrators /processors.

    (7) An FCA-approved person or PRA-approved person approved to perform a controlled function in a Solvency II firm or a small non-directive insurer. 9

    This row does not apply to approved persons approved to perform a controlled function in SUP 10A.1.15R to SUP 10A.1.16BR (appointed representatives).9

    (8) A standard non-executive director of:9

    (a) a relevant authorised person; 9

    (b) a Solvency II firm; or 9

    (c) a small non-directive insurer.99

    This row only applies to a UK domestic firm.9

    Note: In accordance with the Glossary, Solvency II firm includes a large non-directive insurer.9
FEES 3.1.8AGRP
Application fees for applications for and variations of Part 4A permission in respect of credit-related regulated activities are also set out in FEES 3 Annex 1F. Applications for Part 4A permission in respect of credit-related regulated activities are categorised by the 9FCA for the purposes of fee raising as straightforward, moderately complex and complex as identified in FEES 3 Annex 1, unless the application is for a limited permission.799[Note: PRA-authorised persons may also
FEES 4.2.10RRP
A person need not pay a periodic fee on the date on which it is due under the relevant provision in FEES 4.2.1 R, if:(1) that date falls during a period during which circumstances of the sort set out in GEN 1.3.2 R (Emergencies) exist, and that person has reasonable grounds to believe that those circumstances impair its ability to pay the fee, in which case he must pay it on or before the fifth business day after the end of that period; or(2) unless FEES 4.3.6R (3), 9FEES 4.3.6R
EG 9.6.5RP
2The FCA will consult the PRA before varying or revoking a prohibition order if, as a result of the variation or revocation, an individual will either be prohibited from, or no longer be prohibited from, a function of interest to the PRA as defined at section 56(7B) of the Act.
SUP 10C.16.6GRP
Failing to disclose relevant information to the FCA may be a criminal offence under section 398 of the Act.