Related provisions for FEES 12.1.1

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SUP 12.4.5CRP
1

Multiple principal agreement

Matter

Explanation

1.

Scope of appointment

The scope of appointment given by each principal to the appointed representative.

2.

Complaints handling

The identity of the principal which will be the point of contact for a complaint from a client (referred to as the "lead-principal" in SUP 12.4.5D G to SUP 12.4.5E G).

An agreement that each principal will co-operate with each other principal in resolving a complaint from a client in relation to the appointed representative's conduct.

The arrangements for complaints handling, including arrangements for resolving disputes between the principals in relation to their liability to a client in respect of a complaint and arrangements for dealing with referrals to the Financial Ombudsman Service.

3.

Financial promotions

The arrangements for approving financial promotion.

4.

Control and monitoring

The arrangements for the control and monitoring of the activities of the appointed representative (see in particular SUP 12.6.6 R (Regulated activities and investment services outside the scope of appointment) and SUP 12.6.7 G (Senior management responsibility for appointed representatives)).

5.

Approved person status

The arrangements for making applications for approved person status (see SUP 10A and SUP 10C12 (Approved persons) and the corresponding PRA requirements).12

2323

6.

Training and competence

The arrangements for training and competence (see TC).

7.

Co-operation

The arrangements for co-operation over any other issues which may arise from the multiple appointments, including issues which may damage the interests of clients dealing with the appointed representative and administrative issues.

An agreement by each principal to take reasonable steps to ensure that it does not cause the appointed representative or any of its other principals to be in breach of their obligations to each other or under the regulatory system.

8.

Sharing information

The arrangements for sharing information on matters relevant to the matters covered under the multiple principal agreement and each principal's obligations under SUP 12.6 (Continuing obligations of firms with appointed representatives).

An agreement that each principal will notify each other principal of any information which is materially relevant to the multiple principal agreement.
SUP 12.4.5DGRP
1One effect of the multiple principal agreement is to introduce a 'lead-principal' concept in relation to complaints handling for the benefit of the client. For example, where the client has been given advice by an appointed representative who has two principals, and the advice could have led to a transaction being arranged with either principal, the client will know that he may pursue his complaint with (but not necessarily against) one of the principals. Whether he later decides
SUP 12.4.5FGRP
1When considering the provisions for complaints handling (see SUP 12.4.5C(2)) firms should consider the use of a mediation clause. If a complaint is made by a client, principals which are unable to resolve a dispute about liability to the client should consider all quick and effective ways of resolving the dispute, including referring the matter to the Financial Ombudsman Service and mediation.
IPRU-INV 9.4.2RRP
The policy of professional indemnity insurance must incorporate terms which make provision for: (1) cover in respect of claims for which an exempt CAD firm may be liable as a result of the conduct of itself, its employees and its appointed representatives or where applicable, its tied agent (acting within the scope of their appointment); (2) the minimum levels of indemnity per year as set out in the rules relating to professional indemnity insurance above;
DISP 1.8.1RRP
If a respondent receives a complaint which is outside the time limits for referral to the Financial Ombudsman Service (see DISP 2.814)14 it may reject the complaint without considering the merits, but must explain this to the complainant in a final response in accordance with DISP 1.6.2 R or DISP 1.6.2AR3.25
CREDS 9.1.4GRP
DISP 2 to DISP 4 (which cover jurisdiction and procedures of the Financial Ombudsman Service) and FEES 5 (which covers funding of the Financial Ombudsman Service) apply to credit unions.
DISP 3.4.1RRP
The Ombudsman may refer a complaint to another complaints scheme where:13(1) he considers that it would be more suitable for the matter to be determined by that scheme; and(2) the complainant consents to the referral.13
FEES 5.9.3GRP
[deleted]3838
MCOB 5.9.1RRP
(1) 1A firm must, as soon as a customer expresses an interest in becoming a SRB agreement seller, ensure that the 2disclosures and warnings set out in (1A) are 2made to the customer2, both orally and confirmed in writing, and he is given an adequate opportunity to consider them. The firm must not demand or accept any fees, charges or other sums from the customer, or undertake any action that commits the customer in any way to entering into a specific agreement, until:2222(a) 2the
MCOB 5.9.3RRP
(1) A SRB intermediary2must ensure that, on first making contact with a prospective SRB agreement seller, whether or not he is the firm'scustomer, who is proposing to enter into a regulated sale and rent back agreement with an unauthorised SRB agreement provider, it provides him with the written warning in (2) before he enters into any such agreement.2(2) The warning in (1) is that:(a) the agreement provider is not authorised or regulated by the FCA, and that key protections under
COLL 12.3.7GRP
An EEA UCITS management company that operates a UCITS scheme is advised that in particular it needs to comply with:(1) COLL 6.6.3 R (Functions of the authorised fund manager) requiring it to fulfil the obligations placed on it by the instrument constituting the fund2 and the prospectus of that scheme;2(2) Dispute resolution: Complaints sourcebook (DISP - see DISP 1 Annex 2 G for a summary of the relevant requirements that apply, which include the complaints handling rules (under
DISP App 3.1.2GRP
At step 1, the3 aspects of complaint handling dealt with in this appendix are how the firm should:(1) assess a complaint in order to establish whether the firm's conduct of the sale failed to comply with the rules, or was otherwise in breach of the duty of care or any other requirement of the general law (taking into account relevant materials published by the FCA, other relevant regulators, the Financial Ombudsman Service and former schemes). In this appendix this is referred
EG 11.2.1RP
2In deciding whether to exercise its powers to seek or require restitution under sections 382, 383 or 384 of the Act, the FCA will consider all the circumstances of the case. The factors which the FCA will consider may include, but are not limited to, those set out below. (1) Are the profits quantifiable? The FCA will consider whether quantifiable profits have been made which are owed to identifiable persons. In certain circumstances it may be difficult to prove that the conduct
ICOBS 3.2.8RRP
The requirements relating to the placing and receipt of orders do not apply to contracts concluded exclusively by exchange of e-mail or by equivalent individual communications.[Note: article 10(4) and 11(3) of the E-Commerce Directive]
IPRU-INV 13.1.19RRP

In addition to the specific requirements in

13.1.9R to 13.1.13R

, the policy must make provision for the following:

  1. (1)

    for a firm with relevant income of more than £6,000,000, the aggregate limit identified in the table below:

    2. Relevant income is (£)

    Minimum aggregate limit of indemnity

    more than

    up to

    (£)

    6,000,000

    7,000,000

    1,150,000

    7,000,000

    8,000,000

    1,300,000

    8,000,000

    9,000,000

    1,450,000

    9,000,000

    10,000,000

    1,600,000

    10,000,000

    12,500,000

    2,000,000

    12,500,000

    15,000,000

    2,400,000

    15,000,000

    17,500,000

    2,800,000

    17,500,000

    20,000,000

    3,150,000

    20,000,000

    25,000,000

    3,800,000

    25,000,000

    30,000,000

    4,250,000

    30,000,000

    35,000,000

    4,500,000

    35,000,000

    40,000,000

    4,750,000

    40,000,000

    50,000,000

    5,500,000

    50,000,000

    60,000,000

    6,000,000

    60,000,000

    70,000,000

    6,750,000

    70,000,000

    80,000,000

    7,250,000

    80,000,000

    90,000,000

    7,750,000

    90,000,000

    100,000,000

    8,500,000

    100,000,000

    150,000,000

    11,250,000

    150,000,000

    200,000,000

    14,000,000

    200,000,000

    250,000,000

    17,000,000

    250,000,000

    300,000,000

    19,750,000

    300,000,000

    n/a

    22,500,000

  2. (2)

    full retroactive cover in respect of the kinds of liabilities described in 13.1.9R for claims arising from work carried out by the firm, or on its behalf, in the past; and

  3. (3)

    cover in respect of Ombudsman awards made against the firm.

ICOBS 6.2.2RRP
Before a general insurance contract is concluded, a firm must inform a customer who is a natural person of:(1) the law applicable to the contract where the parties do not have a free choice, or the fact that the parties are free to choose the law applicable and, in the latter case, the law the firm proposes to choose; and(2) the arrangements for handling policyholders’ complaints concerning contracts including, where appropriate, the existence of a complaints body (usually the
COBS 7.2.1RRP
(1) Prior to the conclusion of any initial life policy and, if necessary, on amendment or renewal, a firm must provide a client with at least the following information:(a) its name and address;(b) the fact that it is registered on the Financial Services Register and its Firm Reference Number3 (or, if it is not on the Financial Services Register, the register in which it has been included and the means for verifying that it has been registered);3(c) whether it has a direct or indirect
MCOB 6.4.13RRP
A firm must ensure that the contact details section of the offer document (as required by MCOB 5.6.122 R) also includes information on how to complain to the firm about the services provided by the firm in relation to the regulated mortgage contract and whether or not complaints may subsequently be referred to the Financial Ombudsman Service.
ICOBS 6.3.1RRP
  1. (1)

    Before a pure protection contract is concluded, a firm must communicate, at least,1 the information in the table below to the customer.1

    1
  2. (2)

    The information must be provided in a clear and accurate manner, in writing, and in an official language of the State of the commitment or in another language if the policyholder so requests and the law of the State of the commitment so permits or the policyholder is free to choose the applicable law.1

    1

    3. Information to be communicated before conclusion

    (1)

    The name of the insurance undertaking and its legal form.

    (2)

    The name of the EEA State in which the head office and, where appropriate, the agency or branch1 concluding the contract is situated.

    1

    (3)

    The address of the head office and, where appropriate, of the agency or branch concluding the contract.

    1(3a)

    A concrete reference to the firm'sSFCR allowing the policyholder easy access to this information.

    (4)*

    Definition of each benefit and each option.

    (5)*

    Term of the contract.

    (6)*

    Means of terminating the contract.

    (7)*

    Means of payment of premiums and duration of payments.

    (8)*

    Information on the premiums for each benefit, both main benefits and supplementary benefits, where appropriate.

    (9)*1

    Arrangements for application of the cancellation period.

    (10)

    General information on the tax arrangements applicable to the type of policy.

    (11)

    The arrangements for handling complaints concerning contracts by policyholders, lives assured or beneficiaries1 under contracts including, where appropriate, the existence of a complaints body (usually the Financial Ombudsman Service), without prejudice to the right to take legal proceedings.

    1

    (12)

    The law applicable to the contract where the parties do not have a free choice or, where the parties are free to choose the law applicable, the law the firm1 proposes to choose.

    1

    Note: The rule on mid-term changes applies to items marked with an asterisk (see ICOBS 6.3.3 R).

[Note: article 185 of the Solvency II Directive1]

1
MCOB 4A.1.1RRP
An MCD mortgage arranger (unless it is also acting as3 an MCD mortgage lender and3 carrying out a3 direct sale of the proposed regulated mortgage contract3) must, in good time before carrying out any MCD mortgage credit intermediation activity, provide the consumer with at least the following information in a durable medium: (1) the identity and the geographical address of the MCD mortgage arranger2;(2) the Financial Services Register or other registers in which the MCD mortgage
DISP App 1.1.5GRP
This appendix is also relevant to complaints which the Ombudsman may investigate under the Compulsory Jurisdiction or Voluntary Jurisdiction of the Financial Ombudsman Service established under Part XVI of the Act (The Ombudsman Scheme).2525