Related provisions for CASS 11.2.9

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REC 2.4A.1UKRP

1Schedule to the Recognition Requirements Regulations, paragraph 2A

(1)

The composition of the management body of a [UK RIE] must reflect an adequately broad range of experience.

(2)

The management body must possess adequate collective knowledge, skills and experience in order to understand the [UK RIE’s] activities and main risks.

(3)

Members of the management body must -

(a)

commit sufficient time to perform their functions on the management body;

(b)

act with honesty, integrity and independence of mind; and

(c)

effectively -

(i)

assess and challenge, where necessary, the decisions of the senior management; and

(ii)

oversee and monitor decision making.

(4)

The management body must -

(a)

define and oversee the implementation of governance arrangements that ensure the effective and prudent management of the [UK RIE] in a manner which promotes the integrity of the market, which at least must include the -

(i)

the segregation of duties in the organisation; and

(ii)

the prevention of conflicts of interest;

(b)

monitor and periodically assess the effectiveness of the [UK RIE’s] governance arrangements; and

(c)

take appropriate steps to address any deficiencies found as a result of the monitoring under paragraph (b).

(5)

A [UK RIE] must -

(a)

devote adequate human and financial resources to the induction and training of members of the management body;

(b)

ensure that the management body has access to the information and documents it requires to oversee and monitor management decision-making; and

(c)

notify the FCA of the identity of all the members of its management body.

(6)

A [UK RIE] and, if it has a nomination committee, its nomination committee must engage a broad set of qualities and competences when recruiting persons to the management body, and for that purpose have a policy promoting diversity on the management body.

(7)

The number of directorships a member of the management body can hold at the same time must take into account individual circumstances and the nature, scale and complexity of the [UK RIE’s] activities.

SYSC 13.9.2GRP
Firms should take particular care to manage material outsourcing arrangements and, as SUP 15.3.8 G (1)(e) explains, a firm should notify the FCA2 when it intends to enter into a material outsourcing arrangement.
REC 3.18.1GRP
(1) The purpose of REC 3.18 is to enable the FCA4 to monitor changes in the types of member admitted by UK recognised bodies and to ensure that the FCA4has notice of foreign jurisdictions in which the members of UK recognised bodies are based. UK recognised bodies may admit persons who are not authorised persons or persons who are not located in the United Kingdom, provided that the recognition requirements2or (for RAPs) RAP recognition requirements continue to be met.44(2) REC
SYSC 19D.1.7GRP
(1) In addition to the notification requirements in the dual-regulated firms Remuneration Code2, general circumstances in which the FCA expects to be notified by firms of matters relating to their compliance with requirements under the regulatory system are set out in SUP 15.3 (General notification requirements).(2) For remuneration matters in particular, those circumstances should take into account unregulated activities, as well as regulated activities and the activities of
CASS 10.1.16RRP
A firm must notify the FCA in writing immediately if it has not complied with, or is unable to comply with, CASS 10.1.3 R.
FEES 13.2.5RRP
For the purposes of FEES 13.2.4R:(1) a firm in activity group CC2 may apply the relevant tariff bases and rates to its non-UK business, as well as to its UK business, if:(a) it has reasonable grounds for believing that the costs of identifying the firm’sUK business separately from its non-UK business in the way described in FEES 4 Annex 11BR are disproportionate to the difference in fees payable; and (b) it notifies the FCA in writing at the same time as it provides the information
SUP 14.6.3ARRP
4An EEA firm that has exercised an EEA right under the auction regulation to establish a branch in the United Kingdom must notify the FCA7 by email to 7emissionstrading@fca.org.uk7 when it ceases to carry on regulated activities through a branch passport in the United Kingdom or whenever possible thereafter.
SYSC 19A.1.7GRP
(1) 7In addition to the notification requirements in the Remuneration Code7 general circumstances in which the FCA7 expects to be notified by firms of matters relating to their compliance with requirements under the regulatory system are set out in SUP 15.3 (General notification requirements). (2) In particular, in relation to remuneration matters such circumstances should take into account unregulated activities as well as regulated activities and the activities of other members
MAR 5.3A.8RRP
A firm must have systems and procedures to notify the FCA if:(1) an MTF operated by the firm is material in terms of the liquidity of trading of a financial instrument in the EEA; and(2) trading is halted in that instrument.[Note: article 48(5) of MiFID]
MAR 5A.5.8RRP
A firm must have systems and procedures to notify the FCA if:(1) an OTF operated by it is material in terms of the liquidity of the trading of a financial instrument in the EEA; and(2) trading is halted in that instrument.[Note: article 48(5) of MiFID]
LR 1.4.6RRP
A document that is required under a listing rule to be filed, notified to a RIS, provided to the FCA or sent to security holders must be in English.
LR 15.4.28RRP
(1) 5A closed-ended investment fund is not required to comply with LR 9.2.23 R in so far as it relates to LR 9.2.2A R, LR 9.2.2E R and LR 9.2.2F R.(2) A closed-ended investment fund is not required to comply with LR 9.2.24 R to LR 9.2.25 R.
FEES 7.2.4RRP
For the purposes of FEES 7.2.3 R:(1) a firm may apply the relevant tariff bases and rates to its non-UK business, as well as to its UK business, if:(a) it has reasonable grounds for believing that the costs of identifying the firm'sUK business separately from its non-UK business in the way described in Part 3 of FEES 4 Annex 1A6 and Part 1 of FEES 4 Annex 111 are disproportionate to the difference in fees payable; and (b) it notifies the FCA in writing at the same time as it provides
COLL 2.1.3GRP
(1) This chapter sets out the requirements that a person must follow in applying for an authorisation order for a scheme under regulation 12 of the OEIC Regulations (Applications for authorisation),2section 242 of the Act (Applications for authorisation of unit trust schemes) or section 261C of the Act (Applications for authorisation of contractual schemes)2.2(2) COLLG 3A (The FCA’s responsibilities under the Act) and COLLG 4A (The FCA’s responsibilities under the OEIC Regulations)
IPRU-INV 14.2.5RRP
A firm may, having first notified the FCA in writing, exclude from its group the following: (1) any entity the total assets of which are less than the smaller of the following two amounts: (a) 10 million euros; or (b) 1% of the total assets of the group's parent or the undertaking that holds the participation; provided that the total assets of such entities do not collectively breach these limits. (2) any entity the inclusion of which within the group
CASS 6.6.57RRP
A firm must inform the FCA in writing without delay if:(1) its internal records and accounts of the safe custody assets held by the firm for clients are materially out of date, or materially inaccurate or invalid, so that the firm is no longer able to comply with the requirements in CASS 6.6.2 R to CASS 6.6.4 R; or(2) 5it is a firmacting as trustee or depositary of an AIF and has not complied with, or is materially unable to comply with, the requirements in CASS 6.6.2 R or in
CASS 6.6.58GRP
Firms are reminded that the auditor of the firm has to confirm in the report submitted to the FCA under SUP 3.10 (Duties of auditors: notification and report on client assets) that the firm has maintained systems adequate to enable it to comply with the custody rules.
SUP App 2.7.1GRP
For a dormant fund account operator, unless2 any of SUP App 2.4.1 R, SUP App 2.5.1 R, SUP App 2.5.3 R or SUP App 2.6.1 R applies, if a firm's circumstances change, such that its capital resources have fallen, or are expected to fall, below the level advised in individual capital guidance1 given to the firm by the FCA2 , then, consistent with PRIN 2.1.1 RPrinciple 11 (Relations with regulators), a firm should inform the appropriate regulator of this fact as soon as practicable,
PRIN 2.1.1RRP

The Principles

1 Integrity

A firm must conduct its business with integrity.

2 Skill, care and diligence

A firm must conduct its business with due skill, care and diligence.

3 Management and control

A firm must take reasonable care to organise and control its affairs responsibly and effectively, with adequate risk management systems.

4 Financial prudence

A firm must maintain adequate financial resources.

5 Market conduct

A firm must observe proper standards of market conduct.

6 Customers' interests

A firm must pay due regard to the interests of its customers and treat them fairly.

7 Communications with clients

A firm must pay due regard to the information needs of its clients, and communicate information to them in a way which is clear, fair and not misleading.

8 Conflicts of interest

A firm must manage conflicts of interest fairly, both between itself and its customers and between a customer and another client.

9 Customers: relationships of trust

A firm must take reasonable care to ensure the suitability of its advice and discretionary decisions for any customer who is entitled to rely upon its judgment.

10 Clients' assets

A firm must arrange adequate protection for clients' assets when it is responsible for them.

11 Relations with regulators

A firm must deal with its regulators in an open and cooperative way, and must disclose to the FCA1 appropriately anything relating to the firm of which that regulator would reasonably expect notice.
MAR 5A.9.1RRP
1A firm must: (1) not exercise any power under its rules to suspend or remove from trading any financial instrument which no longer complies with its rules, where such a step would be likely to cause significant damage to the interest of investors or the orderly functioning of the trading venue; (2) where it does suspend or remove from trading a financial instrument, also suspend or remove derivatives that relate or are referenced to that financial instrument, where necessary