Related provisions for IFPRU 4.2.4

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IFPRU 4.14.2RRP
For the purpose of article 298(4) of the EU CRR (Effects of recognition of netting as risk-reducing), a firm must use the original maturity of the interest-rate contract.
IFPRU 8.1.19GRP
When demonstrating how article 113(6)(e) of the EU CRR is met, the FCA considers that, for a counterparty which is not a firm, the application should include a legally binding agreement between the firm and the counterparty. This agreement will be to promptly, on demand, by the firm increase the firm'sown funds by an amount required to ensure that the firm complies with the provisions contained in Part Two of the EU CRR (Own funds) and any other requirements relating to capital
CONC 4.3.3GRP
For the agreements referred to in CONC 4.3.2 R, a firm should consider whether it is necessary or appropriate to provide explanations of the matters in CONC 4.5.3R (2), in particular, a firm should consider highlighting key risks to the borrower including the consequences of missing payments or under-paying, including, where applicable, the risk of repossession of the borrower's property.[Note: section 55A(6) of CCA and paragraph 3.1 of ILG][Note: Until the end of 30 September
MAR 7A.4.2RRP
A firm must have in place systems and controls which: (1) ensure it conducts an assessment and review of the suitability of clients using the service; (2) prevent clients using the service from exceeding appropriate pre-set trading and credit thresholds; (3) prevent trading by clients which:(a) may create risks to the firm; (b) or may create, or contribute to, a disorderly market; or (c) could be contrary to the Market Abuse Regulation or the rules of the trading venue. [Note:
DEPP 6.5A.2GRP
(1) The FCA2 will determine a figure that reflects the seriousness of the breach. In many cases, the amount of revenue generated by a firm from a particular product line or business area is indicative of the harm or potential harm that its breach may cause, and in such cases the FCA2 will determine a figure which will be based on a percentage of the firm’s revenue from the relevant products or business areas. The FCA2 also believes that the amount of revenue generated by a firm
BIPRU 14.4.6RRP
If the amount of positive exposure resulting from free delivery transactions is not material, a firm may apply a risk weight of 100% to these exposures.
CONC 8.3.4RRP
A firm must ensure that advice provided to a customer, whether before the firm has entered into contract with the customer or after, is provided in a durable medium and: (1) makes clear which debts will be included in any debt solution and which debts will be excluded from any debt solution; [Note: paragraph 3.38j of DMG](2) makes clear the actual or potential advantages, disadvantages, costs and risks of each option available to the customer, with any conditions that apply for
IFPRU 4.8.22GRP
The FCA expects firms to investigate how their EAD estimates are impacted by exposures that are in excess of limits at either the observation date (if in the reference data set) or at the current reporting date (for the existing book to which estimates need to be applied). Unless a momentum approach is being used, exposures in excess of limit should be excluded from the reference data set (as the undrawn limit is negative and nonsensical answers would result from their inclusion).
MAR 10.2.3GRP
(1) 1Regulation 17 of the MiFI Regulations regulates the position limit exemption applicable to positions in a commodity derivative held by or on behalf of a non-financial entity which are objectively measurable as reducing risks directly relating to the commercial activity of that non-financial entity, and which is approved by the FCA in accordance with the relevant criteria and procedures. Regulation 17(1) imposes an obligation on the FCA to disregard such positions, when calculating
BIPRU 8.5.8GRP
In general a collective portfolio management investment firm2 only calculates its capital and concentration risk requirements in relation to its designated investment business and does not calculate them with respect tomanaging an AIF or managing a UCITS. 2 The effect of BIPRU 8.5.7 R is that this does not apply on a consolidated basis. For the purpose of this chapter the calculations are carried out2 with respect to the whole of the activities of a collective portfolio management
MCOB 2A.1.2RRP
When establishing and applying remuneration policies for members of staff who are responsible for the assessment of affordability for consumers, an MCD mortgage lender must comply with the following principles:(1) be consistent with, and promote, sound and effective risk management;(2) not encourage risk-taking that exceeds the level of tolerated risk of the MCD mortgage lender;(3) be in line with the business strategy, objectives, values and long-term interests of the MCD mortgage
COLL 8.4.8RRP
(1) An authorised fund manager must, as frequently as necessary to ensure compliance with COLL 8.4.7 R (2) and COLL 8.4.7 R (4), re-calculate the amount of cover required in respect of derivatives and forwards positions in existence under this chapter.(2) Derivatives and forwards positions may be retained in the scheme property only so long as they remain covered globally under COLL 8.4.7 R.(3) An authorised fund manager must use a risk management process enabling it to monitor
BIPRU 1.3.9DRP
For the purposes of BIPRU 1.3.8 D, the application of a firm must indicate whether and how diversification effects are intended to be factored in the risk measurement system.[Note:BCD annex X Part 3 point 31]
SYSC 4 Annex 1GRP

Business areas and management functions

Explanation

(1) Payment services

This means:

(1) payment services;

(2) issuing and administering other means of payment (for example, cheques and bankers' drafts);

(3) issuing electronic money; and

(4) current accounts.

(2) Settlement

This means clearing and settlement of any transactions described in rows (3) and (6) to (9) of this annex, in relation to the assets covered by (9).

It also includes clearing and settlement of any transactions described in row (10).

(3) Investment management

This has the same meaning as managing investments with the following adjustments:

(a) it covers all types of assets; and

(b) the exclusions in the Regulated Activities Order do not apply.

It also covers fund management.

(4) Financial or investment advice

This includes advising on investments.

(5) Mortgage advice

This has the same meaning as advising on regulated mortgage contracts but is expanded to cover land anywhere in the world and to cover security of any kind over land.

(6) Corporate investments

This means acquiring, holding, managing and disposing a firm's investments made for its own account.

(7) Wholesale sales

This means the selling of any investment to a person other than a retail customer.

It does not include the activities in (1).

(8) Retail sales

This means the selling of any investment to a retail customer.

It includes savings accounts. It does not include the activities in (1).

(9) Trading for clients

This means dealing in investments as agent and execution of orders on behalf of clients but the list of products includes money market instruments and foreign exchange.

(10) Market making

This has the same meaning as it does in MIFID (see the definition of market maker in article 4.1(8)).

(11) Investment research

(12) Origination/syndication and underwriting

Origination and syndication include:

(1) entering into or acquiring (directly or indirectly) any commitment or investment with a view to transferring some or all of it to others, or with a view to others investing in the same transaction;

(2) sub-participation; and

(3) any transaction described in the Glossary definition of originator.

Underwriting includes underwriting that is not on a firm commitment basis.

A commitment or investment includes an economic interest in some or all of it.

This activity also includes the provision of services relating to such transactions.

(13) Retail lending decisions

Deciding whether, and on what terms, to lend to retail customers.

Lending includes granting credit, leasing and hire (including finance leasing).

(14) Wholesale lending decisions

Deciding whether, and on what terms, to lend to persons who are not retail customers.

Lending includes granting credit, leasing and hire (including finance leasing).

(15) Design and manufacturing of products intended for wholesale customers

Wholesale customers mean persons who are not retail customers

(16) Design and manufacture of products intended for retail customers

(17) Production and distribution of marketing materials and communications

This includes financial promotions

(18) Customer service

This means dealing with clients after the point of sale, including queries and fulfilment of client requests

(19) Customer complaints handling

This includes the firm's compliance with DISP.

It also includes:

(1) any similar procedures relating to activities that do not come under the jurisdiction of the Financial Ombudsman Service;

(2) activities that take place outside the UK; and

(3) activities that are not subject to any ombudsman service.

(20) Collection and recovering amounts owed to a firm by its customers

Dealing with customers in arrears

‘Customer’ means any person falling into any of the definitions of client in the Glossary so far as they apply to the FCA's Handbook. The definition is extended to cover all services provided by the firm and not just those that are provided in the course of carrying on a regulated activity or an ancillary service.

(21) Middle office

This means risk management and controls in relation to, and accounting for, transactions in securities or derivatives

(22) The firm's information technology

(23) Business continuity planning

This means the functions described in SYSC 4.1.6R and SYSC 4.1.7R

(24) Human resources

This includes recruitment, training and competence and performance monitoring

(25) Incentive schemes for the firm's staff

This is not limited to schemes based on sales.

(26) Providing information in relation to a specified benchmark

(27) Administering a specified benchmark

Note (1): The purpose of this annex is explained in SYSC 4.5 (Management responsibilities maps for UK2 relevant authorised persons) and SYSC 4.7.37G. This annex is also referred to in SYSC 4.6 (Management responsibilities maps for non-UK relevant authorised persons) and SYSC 4.8 (Senior management responsibilities for third-country relevant authorised persons: allocation of responsibilities) (see SYSC 4.6.14 and SYSC 4.8.35).2

Note (2): A firm does not have to use the split of activities in this annex for the purposes in Note (1). If a firm does decide to use it, it may adapt it to suit its management arrangements better.

For example, a firm may find the split of activities into retail and wholesale activities unsuitable. If so, the firm might:

(a) treat retail and wholesale activities together; or

(b) use its own definition of retail and wholesale activities.
SUP 10C.12.33GRP
Where a firm is expanding or transforming its business model or its risk profile and there are identifiable upcoming milestones, the FCA may wish to link the duration of a candidate's approval to these milestones.
BIPRU 9.4.17GRP
2When considering an application for a waiver of the requirements in BIPRU 9.4.11R and BIPRU 9.4.12R, the appropriate regulator may undertake a visit to the firm in order to examine the firm's risk management and governance arrangements. Before such a visit, the appropriate regulator may request information from the firm additional or supplementary to that provided in the waiver application.
PERG 5.11.13AGRP
(1) 2There are two types of travel risks covered by PERG 5.11.13G (4)(b). The first type covers damage to, or loss of, baggage and other risks linked to the travel booked with the provider where that travel relates to attendance at an event organised or managed by that provider and the party seeking insurance is not an individual (acting in his private capacity) or a small business.(2) "Small business" means a sole trader, body corporate, partnership or unincorporated association
MAR 5A.4.1RRP
1A firm must have:(1) transparent rules and procedures for fair and orderly trading; [Note: article 18(1) of MiFID](2) objective criteria for the efficient execution of orders2;[Note: article 18(1) of MiFID](3) arrangements for the sound management of the technical operations of the facility, including the establishment of effective contingency arrangements to cope with the risks of systems disruption;[Note: article 18(1) of MiFID](4) transparent rules regarding the criteria for
GENPRU 2.1.51RRP
A BIPRU firm must calculate its credit risk capital requirement as the sum of:(1) the credit risk capital component; and15(2) the counterparty risk capital component.15(3) [deleted]15