Related provisions for INSPRU 1.5.4
- (1)
The application of MIPRU 4.2F.33 R may be illustrated by an example. Where a first-charge mortgage exposure of £50,000 from another lender is secured on residential property in the United Kingdom that satisfies the criteria in MIPRU 4.2F.4 R to MIPRU 4.2F.29 R and the value of that property is £100,000, then a firm with a second-charge mortgage of £60,000 on the same property may treat £30,000 of that exposure as fully and completely secured and risk weight it at 35%, treat a further £20,000 as unsecured and risk weight it at 75%, and risk weight the remaining £10,000 at 100%. A diagrammatic illustration of this example is in (2).
- (2)
A diagrammatic illustration of the example in (1)
Property value
Exposure and risk weightings
Example
£10,000 of second-charge - risk weighted at 100%
• Remaining second-charge mortgage, i.e. £10,000
£100,000
£20,000 of second-charge - risk weighted at 75%
• Second-charge mortgage up to maximum of 100% of property value, i.e. £20,000
£30,000 of second-charge - risk weighted at 35%
• Second-charge mortgage up to maximum of 80% of property value, i.e. £30,000
First-charge mortgage (£50,000)
• Other lender has first-charge over property with outstanding loan balance of £50,000
29.8 |
Annual financial report |
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9.81 |
R |
[not used] |
|||
9.8.2 |
R |
[not used] |
|||
9.8.3 |
R |
[not used] |
|||
Information to be included in annual report and accounts |
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9.8.4 |
R |
In addition to the requirements set out in DTR 4.1 a listed company must include in its annual financial report, where applicable, the following: |
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(1) |
a statement of the amount of interest capitalised by the group during the period under review with an indication of the amount and treatment of any related tax relief; |
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(2) |
any information required by LR 9.2.18 R (Publication of unaudited financial information); |
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(3) |
details of any small related party transaction as required by LR 11.1.10 R (2)(c); |
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(4) |
details of any long-term incentive schemes as required by LR 9.4.3 R; |
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(5) |
details of any arrangements under which a director of the company has waived or agreed to waive any emoluments from the company or any subsidiary undertaking; |
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(6) |
where a director has agreed to waive future emoluments, details of such waiver together with those relating to emoluments which were waived during the period under review; |
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(7) |
in the case of any allotment for cash of equity securities made during the period under review otherwise than to the holders of the company'sequity shares in proportion to their holdings of such equity shares and which has not been specifically authorised by the company's shareholders: |
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(a) |
the classes of shares allotted and for each class of shares, the number allotted, their aggregate nominal value and the consideration received by the company for the allotment; |
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(b) |
the names of the allottees, if less than six in number, and in the case of six or more allottees a brief generic description of each new class of equity holder (e.g. holder of loan stock); |
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(c) |
the market price of the allotted securities on the date on which the terms of the issue were fixed; and |
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(d) |
the date on which the terms of the issue were fixed; |
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(8) |
the information required by paragraph (7) must be given for any unlisted major subsidiary undertaking of the company; |
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(9) |
where a listed company has listed shares in issue and is a subsidiary undertaking of another company, details of the participation by the parent undertaking in any placing made during the period under review; |
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(10) |
details of any contract of significance subsisting during the period under review: |
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(a) |
to which the listed company, or one of its subsidiary undertakings, is a party and in which a director of the listed company is or was materially interested; and |
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(b) |
between the listed company, or one of its subsidiary undertakings, and a controlling shareholder; |
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(11) |
details of any contract for the provision of services to the listed company or any of its subsidiary undertakings by a controlling shareholder, subsisting during the period under review, unless: |
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(a) |
it is a contract for the provision of services which it is the principal business of the shareholder to provide; and |
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(b) |
it is not a contract of significance; |
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(12) |
details of any arrangement under which a shareholder has waived or agreed to waive any dividends; and |
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(13) |
where a shareholder has agreed to waive future dividends, details of such waiver together with those relating to dividends which are payable during the period under review. |
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9.8.5 |
G |
A listed company need not include with the annual report and accounts details of waivers of dividends of less than 1% of the total value of any dividend provided that some payment has been made on each share of the relevant class during the relevant calendar year. |
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Additional information |
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9.8.6 |
R |
In the case of a listed company incorporated in the United Kingdom, the following additional items must be included in its annual financial report: |
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(1) |
a statement setting out all the interests (in respect of which transactions are notifiable to the company under article 19 of the Market Abuse Regulation3) of each person who is a director of the listed company as at the end of the period under review including: |
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(a) |
all changes in the interests of each director that have occurred between the end of the period under review and a date not more than one month prior to the date of the notice of the annual general meeting; or |
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(b) |
if there have been no changes in the period described in paragraph (a), a statement that there have been no changes in the interests of each director; |
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Interests of each director include the interests of connected persons of which the listed company is, or ought upon reasonable enquiry to become, aware. |
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(2) |
a statement showing the interests disclosed to the listed company in accordance with DTR 5 as at the end of the period under review and: |
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(a) |
all interests disclosed to the listed company in accordance with DTR 5 that have occurred between the end of the period under review and a date not more than one month prior to the date of the notice of the annual general meeting; or |
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(b) |
if no interests have been disclosed to the listed company in accordance with DTR 5 in the period described in (a), a statement that no changes have been disclosed to the listed company; |
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(3) |
a statement made by the directors that the business is a going concern, together with supporting assumptions or qualifications as necessary, that has been prepared in accordance with Going Concern and Liquidity Risk: Guidance for Directors of UK Companies 2009, published by the Financial Reporting Council in October 2009; |
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(4) |
a statement setting out: |
||||
(a) |
details of any shareholders' authority for the purchase, by the listed company of its own shares that is still valid at the end of the period under review; |
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(b) |
in the case of purchases made otherwise than through the market or by tender to all shareholders, the names of sellers of such shares purchased, or proposed to be purchased, by the listed company during the period under review; |
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(c) |
in the case of any purchases made otherwise than through the market or by tender or partial offer to all shareholders, or options or contracts to make such purchases, entered into since the end of the period covered by the report, information equivalent to that required under Part 2 of Schedule 7 to the Large & Medium Sized Companies and Groups (Accounts and Reports) Regulations 2008 (SI 2008/410) (Disclosure required by company acquiring its own shares etc) ; and |
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(d) |
in the case of sales of treasury shares for cash made otherwise than through the market, or in connection with an employees' share scheme, or otherwise than pursuant to an opportunity which (so far as was practicable) was made available to all holders of the listed company'ssecurities (or to all holders of a relevant class of its securities) on the same terms, particulars of the names of purchasers of such shares sold, or proposed to be sold, by the company during the period under review; |
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(5) |
a statement of how the listed company has applied the Main Principles set out in the UK Corporate Governance Code, in a manner that would enable shareholders to evaluate how the principles have been applied; |
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(6) |
a statement as to whether the listed company has: |
||||
(a) |
complied throughout the accounting period with all relevant provisions set out in the UK Corporate Governance Code; or |
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(b) |
not complied throughout the accounting period with all relevant provisions set out in the UK Corporate Governance Code and if so, setting out: |
||||
(i) |
those provisions, if any it has not complied with; |
||||
(ii) |
in the case of provisions whose requirements are of a continuing nature, the period within which, if any, it did not comply with some or all of those provisions; and |
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(iii) |
the company's reasons for non-compliance; and |
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(7) |
a report to the shareholders by the Board which contains all the matters set out in LR 9.8.8 R. |
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9.8.6A |
G |
(1) |
The effect of LR 9.8.6 R (1) is that a listed company is required to set out a 'snapshot' of the total interests of a director and his or her connected persons, as at the end of the period under review (including certain information to update it as at a date not more than a month before the date of the notice of the annual general meeting). The interests that need to be set out are limited to those in respect of which transactions fall to be notified under the notification requirement for PDMRs in article 19 of the Market Abuse Regulation3. Persons who are directors during, but not at the end of, the period under review need not be included. |
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(2) |
A listed company unable to compile the statement in LR 9.8.6 R (1) from information already available to it may need to seek the relevant information, or confirmation, from the director himself, including that in relation to connected persons, but would not be expected to obtain information directly from connected persons. |
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9.8.7 |
R |
An overseas company with a premium listing must include in its annual report and accounts the information in LR 9.8.6 R (5), LR 9.8.6 R (6) and LR 9.8.8 R (9). |
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9.8.7A |
R |
(1) |
An overseas company with a premium listing that is not required to comply with requirements imposed by another EEA State that correspond to DTR 7.2 (Corporate governance statements) must comply with DTR 7.2 as if it were an issuer to which that section applies. |
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(2) |
An overseas company with a premium listing which complies with LR 9.8.7 R will be taken to satisfy the requirements of DTR 7.2.2 R and DTR 7.2.3 R, but (unless it is required to comply with requirements imposed by another EEA State that correspond to DTR 7.2) must comply with all of the other requirements of DTR 7.2 as if it were an issuer to which that section applies. |
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Report to shareholders |
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9.8.8 |
R |
The report to the shareholders by the Board required by LR 9.8.6 R (7) must contain the following: |
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(1) |
a statement of the listed company's policy on executive directors' remuneration; |
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(2) |
information presented in tabular form, unless inappropriate, together with explanatory notes as necessary on: |
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(a) |
the amount of each element in the remuneration package for the period under review of each director, by name, including but not restricted to, basic salary and fees, the estimated money value of benefits in kind, annual bonuses, deferred bonuses, compensation for loss of office and payments for breach of contract or other termination payments; |
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(b) |
the total remuneration for each director for the period under review and for the corresponding prior period; |
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(c) |
any significant payments made to former directors during the period under review; and |
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(d) |
any share options, including Save-as-you-earn options, for each director, by name, in accordance with the requirements of the Directors' Remuneration Report Regulations; |
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(3) |
details of any long-term incentive schemes, other than share options as required by paragraph (2)(d), including the interests of each director, by name, in the long-term incentive schemes at the start of the period under review; |
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(4) |
details of any entitlements or awards granted and commitments made to each director under any long-term incentive schemes during the period, showing which crystallize either in the same year or in subsequent years; |
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(5) |
details of the monetary value and number of shares, cash payments or other benefits received by each director under any long-term incentive schemes during the period; |
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(6) |
details of the interests of each director in the long-term incentive schemes at the end of the period; |
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(7) |
an explanation and justification of any element of a director's remuneration, other than basic salary, which is pensionable; |
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(8) |
details of any director's service contract with a notice period in excess of one year or with provisions for pre-determined compensation on termination which exceeds one year's salary and benefits in kind, giving the reasons for such notice period; |
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(9) |
details of the unexpired term of any directors' service contract of a director proposed for election or re-election at the forthcoming annual general meeting, and, if any director proposed for election or re-election does not have a directors' service contract, a statement to that effect; |
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(10) |
a statement of the listed company's policy on the granting of options or awards under its employee share scheme and other long-term incentive schemes, explaining and justifying any departure from that policy in the period under review and any change in the policy from the preceding year; |
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(11) |
for money purchase schemes details of the contribution or allowance payable or made by the listed company in respect of each director during the period under review; and |
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(12) |
|||||
a) |
details of the amount of the increase during the period under review (excluding inflation) and of the accumulated total amount at the end of the period in respect of the accrued benefit to which each director would be entitled on leaving service or is entitled having left service during the period under review; |
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(b) |
either: |
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(i) |
the transfer value (less director's contributions) of the relevant increase in accrued benefit (to be calculated in accordance with regulations 7 to 7E of the Occupational Pension Schemes (Transfer Values) Regulations 1996 but making no deduction for any under-funding) as at the end of the period; or |
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(ii) |
so much of the following information as is necessary to make a reasonable assessment of the transfer value in respect of each director: |
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(A) age; |
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(B) normal retirement age; |
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(C) the amount of any contributions paid or payable by the director under the terms of the scheme during the period under review; |
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(D) details of spouses and dependants benefits; |
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(E) early retirement rights and options; |
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(F) expectations of pension increases after retirement (whether guaranteed or discretionary); and |
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(G) discretionary benefits for which allowance is made in transfer values on leaving and any other relevant information which will significantly affect the value of the benefits; and |
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(c) |
no disclosure of voluntary contributions and benefits. |
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Information required by law |
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9.8.9 |
G |
The requirements of LR 9.8.6 R (6) and LR 9.8.8 R relating to corporate governance are additional to the information required by law to be included in the listed company's annual report and accounts. |
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Auditors report |
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9.8.10 |
R |
A listed company must ensure that the auditors review each of the following before the annual report is published: |
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(1) |
LR 9.8.6R(3) (statement by the directors that the business is a going concern); and |
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(2) |
the parts of the statement required byLR 9.8.6 R (6) (corporate governance) that relate to the following provisions of the UK Corporate Governance Code: |
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(a) |
C.1.1; |
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(b) |
C.2.1; and |
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(c) |
C.3.1 to C.3.7. |
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9.8.11 |
R |
A listed company must ensure that the auditors review the following disclosures: |
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(1) |
LR 9.8.8 R (2) (amount of each element in the remuneration package and information on share options); |
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(2) |
LR 9.8.8 R (3), LR 9.8.8 R (4) and (5) (details of long term incentive schemes for directors); |
||||
(3) |
LR 9.8.8 R (11) (money purchase schemes); and |
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(4) |
LR 9.8.8 R (12) (defined benefit schemes). |
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9.8.12 |
R |
If, in the opinion of the auditors the listed company has not complied with any of the requirements set out in LR 9.8.11 R the listed company must ensure that the auditors' report includes, to the extent possible, a statement giving details of the non-compliance. |
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Summary financial statements |
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9.8.13 |
R |
Any summary financial statement issued by a listed company as permitted under the Companies Act 2006, must disclose: |
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(1) |
earnings per share; and |
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(2) |
the information required for summary financial statements set out in or under the Companies Act 2006. |
Table: examples of how the requirements for submitting statements of responsibilities work
1Example |
Comments |
(1) A firm applies for approval for A to perform the executive director function and the money laundering function. |
There should be a single statement of responsibilities document that covers the two functions. The combined document should be included with the application for approval. |
(2) Firm X applies for approval for A to perform the executive director function. Firm Y applies for approval for A to perform the money laundering function. Both firms are relevant authorised persons. |
There should be separate statements of responsibilities for each firm. This is the case even if Firm X and Firm Y are in the same group. |
(3) A firm applies for approval for A to perform an FCA-designated senior management function and a PRA-designated senior management function. The arrangements in SUP 10C.9 for FCA functions to be absorbed into PRA ones do not apply and so there are separate applications to the FCA and PRA. |
The single statement of responsibilities document should cover both the FCA and the PRA functions. |
(4) A has approval to perform the executive director function. Later, A is to be appointed to perform the money laundering function for the same firm. This will also result in substantial changes to A’s duties as an executive director. |
The firm should not use Form J to notify the changes to A’s duties as an executive director. The firm should submit a revised single statement of responsibilities document along with the application to perform the money laundering function. The single statement of responsibilities document should cover both functions. The part relating to A’s duties as an executive director should be updated. |
(5) A has approval to perform the executive director function. Later, A is to be appointed to perform the PRA's chief risk officer designated senior management function for the same firm. This will also result in substantial changes to A’s duties as an executive director. |
The firm should not use Form J to notify the changes to A’s duties as an executive director. The firm should submit a revised single statement of responsibilities document along with the application to perform the PRA function. The firm should not submit the revised single statement of responsibilities document separately to the FCA. Instead, it should include it as part of the application to the PRA. The single statement of responsibilities document should cover both the FCA and the PRA functions. The part relating to A’s duties as an executive director should be updated. |
(6) A has approval to perform the money laundering function. The approval to perform the money laundering function is subject to a condition. The firm is applying to vary that condition. |
The firm should include a revised statement of responsibilities with the application. The firm should not use Form J. It should submit a revised statement of responsibilities along with the application to vary the approval. |
(7) A has approval to perform the executive director function and the money laundering function for the same firm. The approval to perform the money laundering function is subject to a condition. The firm is applying to vary that condition. As part of the same arrangements, there are to be substantial changes to A’s job as an executive director. |
The firm should not use Form J to notify the changes to A’s duties as an executive director. The firm should submit a revised single statement of responsibilities document along with the application to vary the approval for the money laundering function. The single statement of responsibilities document should be updated and should cover both functions. |
(8) A has approval to perform the executive director function and the PRA's chief risk officer designated senior management function for the same firm. The arrangements in SUP 10C.9 for FCA functions to be absorbed into PRA ones do not apply and so there are separate FCA and PRA approvals. The approval to perform the PRA's chief risk officer designated senior management function is subject to a condition. The firm is applying to vary that condition. As part of the same arrangements, there are to be substantial changes to A’s job as an executive director. |
The firm should not use Form J to notify the changes to A’s duties as an executive director. The firm should submit a revised single statement of responsibilities document along with the application to vary the PRA function. The firm should not submit the revised document separately to the FCA. Instead it should include it as part of the application to the PRA. The single statement of responsibilities document should cover both the FCA and the PRA functions and should be updated. |
(9) A has approval to perform the executive director function and the money laundering function for the same firm. Sometime later, A is to give up the money laundering function and take up the PRA's chief risk officer designated senior management function. This will involve major changes to A’s role as executive director. |
The answer to example (5) applies. The application to the PRA to perform the PRA function should be accompanied by a single document that: (1) contains the statement of responsibilities for the new function; (2) contains the revised statement of responsibilities for the executive director function; and (3) reflects the fact that A is no longer performing the money laundering function. |
(10) A firm has approval for A to perform the executive director function and the money laundering function. A then ceases to perform the money laundering function but continues to perform the executive director function. |
The firm must submit: (a) Form C for the money laundering function; (b) Form J; and (c) a single updated statement of responsibilities document that covers the executive director function. |
(11) A has approval to perform the executive director function and the PRA's chief risk officer designated senior management function for the same firm. Later, A gives up his role as chief risk officer. |
The firm must submit: (a) Form C for the PRA function; (b) Form J; and (c) a single updated statement of responsibilities document that covers the executive director function. The firm should not submit the revised single statement of responsibilities document separately to the FCA. Instead, it should include it as part of the notification to the PRA. |
(12) A has approval to perform the executive director function. Later, A is to be appointed to perform the money laundering function for the same firm. The application is rejected. |
The single statement of responsibilities document submitted as part of the application will no longer be correct as it reflects the proposed new approval. If the only changes to the single document in the version sent with the application are ones, clearly and exclusively tied to the new function, the firm will not need to amend the document as the changes will automatically fall away. In any other case (for instance if the application is approved conditionally), it is likely that the firm will need to update it using Form J. In any case, the FCA may contact the firm to agree a revised single statement of responsibilities document. |
(13) A has approval to perform the executive director function. Later, A is to be appointed to perform the money laundering function for the same firm. This will not result in any changes to A’s duties as an executive director. However, there have been some insignificant changes to A’s role as an executive director since the firm submitted the most recent single statement of responsibilities document. The changes are not connected to A’s appointment to perform the money laundering function. |
The answer for example (4) applies. The single statement of responsibilities document should be updated to cover the changes to A’s duties as executive director, as well as covering A’s new money laundering role. It does not matter that the changes to A’s role as an executive director are not significant. |
(14) A has approval to perform the executive director function. Later, A’s business unit grows in size and so the firm needs to apply for A to be approved to perform the PRA's Head of Key Business Area designated senior management function. However, A’s responsibilities do not change. |
The firm should submit a revised single statement of responsibilities document along with the application to perform the PRA function. The firm should submit a single statement of responsibilities document that covers both the FCA and the PRA functions. It should not submit the revised single statement of responsibilities document separately to the FCA. Instead, it should include it as part of the application to the PRA. |
2(15) Firm X has a branch in the United Kingdom. Firm Y is a UK authorised subsidiary3 of firm X. Firm X is a third-country relevant authorised person and firm3 Y is a UK relevant authorised person. Both firms apply for approval for the same individual (P) to perform the executive3director function. |
There should be separate statement of responsibilities for P for each firm. |
The single statement of responsibilities document means the single document described in SUP 10C.11.13D |
The table below sets out how DISP 1.1A applies to MiFID complaints relating to:
- (1)
the activities of a MiFID investment firm carried on from an establishment in the United Kingdom;
- (2)
the equivalent business of a third country investment firm where the complaint is received from a retail client or an elective professional client;
- (3)
activities carried on from a branch of a UK firm in another EEA State; and
- (4)
activities carried on from a branch of an EEA firm in the United Kingdom.
Table: Application of DISP 1.1A to the MiFID business of firms in the UK, and the equivalent business of third country investment firms, branches of UK firms and UK branches of EEA firms
(1) Provision |
(2) Provision applies to the MiFID business of a firm carried on from an establishment in the UK? |
(3) Provision applies to the equivalent third country business of a third country investment firm where the complaint is received from a retail client or an elective professional client? |
(4) Provision applies to a branch of a UK firm in another EEA State? |
(5) Provision applies to a branch of an EEA firm in the UK? |
1.1A.10EU |
Yes |
Yes |
Yes |
Yes |
1.1A.11R |
Yes |
Yes |
No |
Yes |
1.1A.12EU |
Yes |
Yes |
Yes |
Yes |
1.1A.13EU |
Yes |
Yes |
Yes |
Yes |
1.1A.14G |
Yes |
Yes |
Yes |
No |
1.1A.15G |
Yes |
Yes |
Yes |
No |
1.1A.16EU |
Yes |
Yes |
Yes |
Yes |
1.1A.17EU |
Yes |
Yes |
Yes |
Yes |
1.1A.18EU |
Yes |
Yes |
Yes |
Yes |
1.1A.19G |
Yes |
Yes |
Yes |
No |
1.1A.20R |
Yes |
Yes |
No |
Yes |
1.1A.21G |
Yes |
Yes |
No |
Yes |
1.1A.22R |
Yes |
Yes |
No |
No |
1.1A.23R |
Yes |
Yes |
No |
Yes |
1.1A.24EU |
Yes |
Yes |
Yes |
Yes |
1.1A.25EU |
Yes |
Yes |
Yes |
Yes |
1.1A.26R |
Yes |
Yes |
No |
Yes |
1.1A.27G |
Yes |
Yes |
No |
Yes |
1.1A.28R |
Yes |
Yes |
No |
Yes |
1.1A.29EU |
Yes |
Yes |
Yes |
Yes |
1.1A.30EU |
Yes |
Yes |
Yes |
Yes |
1.1A.31R |
Yes |
Yes |
No |
Yes |
1.1A.32G |
Yes |
Yes |
No |
Yes |
1.1A.33G |
Yes |
Yes |
No |
Yes |
1.1A.34G |
Yes |
Yes |
No |
Yes |
1.1A.35R |
Yes |
Yes |
No |
Yes |
1.1A.36R |
Yes |
Yes |
No |
Yes |
1.1A.37EU |
Yes |
Yes |
Yes |
Yes |
1.1A.38EU |
Yes |
Yes |
Yes |
Yes |
1.1A.39R |
Yes |
Yes |
No |
Yes |
1.1A.40R |
Yes |
Yes |
No |
No |
1.1A.41G |
Yes |
Yes |
No |
No |
1.1A.42R |
No |
No |
Yes |
No |
Notes |
||||
(1) The provisions marked “EU” in the table are ‘directly applicable’ which means they apply to all MiFID investment firms in relation to MiFID complaints by virtue of the MiFID Org Regulation. |
||||
(2) This table should be read in conjunction with the rules and guidance in DISP 1.1A.1R to DISP 1.1A.6R. |
Table of periodic fees payable to the FCA65
651 Fee payer |
2 Fee payable |
3 Due date |
4 Events occurring during the period leading to modified periodic fee |
Any firm (except an AIFM qualifier,25ICVC or a UCITS qualifier) |
(1) Unless (2) applies, as37 specified in FEES 4.3.1 R in relation to FEES 4 Annex 2AR and FEES 4 Annex 11 R65.37 (2) Where a firm is paying a ring-fencing implementation fee, as specified in FEES 4 Annex 2BR.37 |
(1) Unless (2) or (3) apply7, on or before the relevant dates specified in FEES 4.3.6 R.12 (2) Unless (3) applies, if 7an event specified in column 4 occurs during the course of a fee year,64 30 days after the occurrence of that event, or if later the dates specified in FEES 4.3.6 R.7 (3) Where the permission is for operating a multilateral trading facility or operating an organised trading facility41, the date specified in FEES 4 Annex 10FEES 4 Annex 10R41 (Periodic fees for MTF and OTF41 operators). 7764 |
Firm receives permission, or becomes authorised or registered under the Payment Services Regulations, article 8 of the MCD Order32, the DRS Regulations41 or the Electronic Money Regulations12;9 or firm9extends permission or its payment service activities916 679 |
Persons who hold a certificate issued by the FCA64 under article 54 of the Regulated Activities Order (Advice given in newspapers etc.) 64 |
£1,09540 3131 |
(1) Unless (2) applies, on or before 1 August or, if later, within 30 days of the date of the invoice23 (2) If an event in column 4 occurs during the course of a fee year,64 30 days after the occurrence of that event 2364 |
Certificate issued to person by FCA64 under article 4054 RAO 64 |
23 | In relation to each unit trust the amount specified in part 1 of 25FEES 4 Annex 4 |
Authorisation order is made in relation to the relevant scheme24 |
|
24Any authorised fund manager of an authorised contractual scheme; |
In relation to each authorised contractual scheme the amount specified in part 1 of25FEES 4 Annex 4 |
||
In relation to each ICVC,25 the amount specified in part 1 of25FEES 4 Annex 4 |
|||
Persons who, under the constitution or founding arrangements of a recognised scheme, are 33responsible for the management of the property held for or within the scheme; |
In relation to each recognised scheme the amount specified in part 1 of25FEES 4 Annex 4 |
The relevant scheme becomes a recognised scheme25 |
|
Not applicable |
|||
In relation to each ELTIF the amount specified in part 1 of FEES 4 Annex 433 |
(1) Unless (2) applies, on or before 1 August or, if later, within 30 days of the date of the invoice.33 (2) If an event in column 4 occurs during the course of a fee year, 30 days after the occurrence of that event.33 |
The ELTIF is authorised by the FCA under the ELTIF regulation33 |
|
On or before the relevant dates specified in FEES 4.3.6 R23 23 |
Not applicable |
||
FEES 4 Annex 6, part 1 for a UK RIE ; and FEES 4 Annex 6 R, part 1A for a UK RIE that is also an RAP13 65 |
(1) On or before the relevant dates specified in FEES 4.3.6 R23 (2) If the event in column 4 occurs during the course of a fee year64, 30 days after the occurrence of that event 2364 |
Recognition order is made. The modified1166 periodic fee is specified in FEES 4 Annex 6 R, Part 1and (in the case of an RAP) Part 1A.131166 1166116611661166 |
|
65 | FEES 4 Annex 6, part 2 |
(1) On or before the relevant dates specified in FEES 4.3.6 R23 (2) If the event in column 4 occurs during the course of a fee year64, 30 days after the occurrence of that event. 2364 |
Recognition order is made. The modified1166 periodic fee is specified in FEES 4 Annex 6, Part 2.1166 1166116611661166 |
A listed issuer35 (in LR) of shares and certificates representing certain securities35. 33 |
Within 30 days of the date of the invoice |
Listedissuer3 (in LR) becomes subject to listing rules 3 |
|
3110122323311210231 | Within 30 days of the date of the invoice |
141414 | |
All non-listed issuers (in DTR) of shares and certificates representing certain securities35. 66 |
29 | Within 30 days of the date of the invoice |
Non-listed issuer (in DTR) becomes subject to disclosure requirements36 and transparency rules629 |
Within 30 days of the date of the invoice |
A person is approved as a primary information provider |
||
6All firms reporting transactions in securities derivatives10to the FCA64 in accordance with SUP 17, and market operators who provide facilities for trading in securities derivatives.10 6410 |
Within 30 days of the date of the invoice |
Not applicable |
|
15Any issuer of a regulated covered bond. |
(1) Unless (2) applies, on or before the relevant dates specified in FEES 4.3.6 R (2) If an event specified in column 4 occurs during the course of a fee year64, 30 days after the occurrence of that event or, if later, the dates specified in FEES 4.3.6 R 64 |
A person becomes registered as an issuer of a regulated covered bond |
|
26(i) An AIFM (other than a UK AIFM or an EEA AIFM with a branch in the UK) which has notified the FCA of its intention to market an AIF in the UK under regulation 57 of the AIFMD UK regulation and which has not ceased to market that AIF in the UK as at 1 April of the current fee year. (ii) An AIFM which has notified the FCA of its intention to market an AIF in the UK under regulation 58 or 59 of the AIFMD UK regulation and which has not ceased to market that AIF in the UK as at 1 April of the current fee year. |
For each notification made by the AIFM of the kind specified in part 2 of FEES 4 Annex 4, the amount specified in part 2 of FEES 4 Annex 4 |
(1) Unless (2) applies, on or before 1 August, or, if later, within 30 days of the date of the invoice (2) If an event in column 4 occurs during the course of a financial year, 30 days after the occurrence of that event |
|
The basic fee contained in part 3 of FEES 4 Annex 4 |
The AIFM is registered by the FCA under regulation 10 of the AIFMD UK regulation. |
||
30 | [deleted]41 |
||
The tariff specified in FEES 4 Annex 15R |
Payable in accordance with FEES 4.3.6R |
Not applicable |
|
The tariff specified in FEES 4 Annex 15R |
Payable in accordance with FEES 4.3.6R |
Not applicable |
Note:Sponsors on the list of approved sponsors as at 1 April each year will be liable for the full year's annual fee unless FEES 4.3.13 R applies.2
Table of FEES 4 rules that correspond to FEES 7 rules
FEES 4 rules |
Corresponding FEES 7 rules |
Part 1 of 6FEES 4 Annex 2A6 |
Part 1 of FEES 7 Annex 11 |
1Part 2 of FEES 4 Annex 11 |
Part 1 of FEES 7 Annex 1 |
1Part 5 of FEES 4 Annex 11 |
Part 1 of FEES 7 Annex 1 |