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GEN 2.2.1RRP
Every provision in the Handbook must be interpreted in the light of its purpose.
GEN 2.2.2GRP
The purpose of any provision in the Handbook is to be gathered first and foremost from the text of the provision in question and its context among other relevant provisions. The guidance given on the purpose of a provision is intended as an explanation to assist readers of the Handbook. As such, guidance may assist the reader in assessing the purpose of the provision, but it should not be taken as a complete or definitive explanation of a provision's purpose.
GEN 2.2.3RRP
Any rule in the Handbook which has the status letter "E" in the margin or heading:(1) is to be taken also to provide that contravention of the rule does not give rise to any of the consequences provided for by provisions of the Act other than section 138C36 (Evidential provisions); and36(2) incorporates the status letter "E" in the margin or heading as part of the rule.
GEN 2.2.4GRP
(1) The rules to which section 138C36 of the Act applies ("evidential provisions") are identified in the Handbook by the status letter "E" in the margin or heading.36(2) Other provisions in the Handbook, although also identified by the status letter "E" in the margin or heading, are actually not rules but provisions in codes and GEN 2.2.3 R does not apply to them.17361313
GEN 2.2.5GRP
Chapter 6 of the Reader's Guide contains an explanation of the significance of the status letters R, E, G, D, UK, EU, P and C6, and includes further information on Handbook provisions, including6 evidential provisions.16
GEN 2.2.6GRP
Expressions with defined meanings appear in italics in the Handbook, unless otherwise stated in individual sourcebooks or manuals11.
GEN 2.2.7RRP
In the Handbook (except IPRU, unless otherwise indicated2):(1) an expression in italics which is defined in the Glossary has the meaning given there; and(2) an expression in italics which relates to an expression defined in the Glossary must be interpreted accordingly.
GEN 2.2.9GRP
Unless the context otherwise requires or unless otherwise stated in a particular sourcebook or manual11, where italics have not been used, an expression bears its natural meaning (subject to the Interpretation Act 1978; see GEN 2.2.11 R to GEN 2.2.12 G).
GEN 2.2.11RRP
The Interpretation Act 1978 applies to the Handbook.
GEN 2.2.12GRP
The application of the Interpretation Act 1978 to the Handbook has the effect, in particular, that:(1) expressions in the Handbook used in the Act have the meanings which they bear in the Act, unless the contrary intention appears;(2) where reference is made in the Handbook to an enactment, it is a reference to that enactment as amended and includes a reference to that provision as extended or applied by or under any other enactment, unless the contrary intention appears; and(3)
GEN 2.2.12ARRP
4Any reference in a provision of the Handbook made before 5 December 2005 to a stepchild, step-parent, stepdaughter, stepson, stepbrother or stepsister is to be interpreted in accordance with section 246 of the Civil Partnership Act 2004.
GEN 2.2.12BGRP
4GEN 2.2.12A R and sections 246 and 247 of the Civil Partnership Act 2004 amend each reference in the Handbook to a stepchild, step-parent and certain related expressions to take account of civil partnerships. As a result a reference (for example) to a stepchild of a person (A) includes a reference to the child of the civil partner of A where that child is not A's child.
GEN 2.2.13RRP
(1) A reference in the Handbook to another provision in the Handbook is a reference to that provision as amended from time to time.13(2) Unless a contrary intention appears:
GEN 2.2.13BGRP
15The purpose of GEN 2.2.13AR is to ensure that cross references in the FCA Handbook to provisions outside the FCA Handbook are effective, including cross references to material that was formerly in the PRA Handbook but which the PRA has now deleted.
GEN 2.2.14RRP
If a provision in the Handbook refers to a communication, notice, agreement or other document "in writing" then, unless the contrary intention appears, it means in legible form and capable of being reproduced on paper, irrespective of the medium used. Expressions related to writing must be interpreted accordingly.
GEN 2.2.15GRP
GEN 2.2.14 R means that, for example, electronic media may be used to make communications which are required by a provision of the Handbook to be "in writing", unless a contrary intention appears, or the use of electronic media would contravene some other requirement. GEN 2.2.14 R does not, however, affect any other legal requirement which may apply in relation to the form or manner of executing a document or agreement. 368
GEN 2.2.15AGRP
36An example of a requirement relevant to whether a communication required by a provision of the Handbook to be "in writing" may be made by use of electronic media is the requirement to treat customers fairly under Principle 6.
GEN 2.2.18RRP
(1) If a firm, which is a partnership7 or unincorporated association, is dissolved, but its authorisation continues to have effect under section 32 of the Act (Partnerships and unincorporated associations) in relation to any partnership or unincorporated association7 which succeeds to the business of the dissolved firm, the successor partnership or unincorporated association7 is to be regarded as the same firm for the purposes of the Handbook unless the context otherwise requires7.77(2)
GEN 2.2.19GRP
In principle, it is possible to view a change of partners7 in a partnership7, or a change in the membership of the unincorporated association, as the formation of a new partnership7 or association. GEN 2.2.18 R reflects section 32 of the Act (Partnerships and unincorporated associations), which provides for the continuing authorisation of partnerships7 and unincorporated associations following a change in partners7 or members if certain conditions are satisfied. GEN 2.2.18 R
GEN 2.2.21GRP
10The agreement on the European Economic Area, signed at Oporto on 2 May 1992, extends certain EU legislation to those EEA States which are not Member States of the EU, namely Norway, Iceland and Liechtenstein. References in the Handbook concerning the territorial scope of EU law should therefore be read as extending throughout the EEA where the context requires.
GEN 2.2.22GRP
10As a result of the Treaty of Lisbon, the European Union has replaced and succeeded the European Community. References in the Handbook to the European Community should therefore be interpreted as references to the European Union, where the context requires. In particular, references which are copied out directly from EU or UK legislation may contain references to the Community which should be read in conjunction with section 3 of the European Union (Amendment) Act 2008.
GEN 2.2.22ARRP
(1) 21Unless exempted in (2) and subject to (3), MiFIR, and any EU regulation adopted as at 3 January 2018 under MiFIR or MiFID, apply to a third country investment firm as if it were a UK MiFID investment firm when the following conditions are met:(a) when it carries on MiFID or equivalent third country business; and(b) it carries on the business in (a) from an establishment in the United Kingdom.(2) Paragraph (1) does not apply: (a) to the extent MiFIR or an EU regulation adopted
GEN 2.2.22BGRP
(1) 21The purpose of GEN 2.2.22AR is to ensure consistency with the principle referred to in recital 109 to MiFID that a third country investment firm should not be treated in a more favourable way than an EEA firm. A third country investment firm does not, however, benefit from passporting rights in the manner envisaged for EEA firms and its authorisation requires consideration of other issues, including the nature and extent of regulation provided by its Home State regulator.(2)
GEN 2.2.23RRP
(1) This rule applies to Handbook provisions20 where the PRA have made commensurate provisions in the PRA Rulebook. It may affect their application by the FCA to PRA-authorised persons and PRA approved persons20.3616151615(2) Where a Handbook provision (or part of one) goes beyond the FCA's20 powers or regulatory responsibilities, it is to be interpreted as applied20 to the extent of the FCA’s20 powers and regulatory responsibilities only.(3) The extent of a Handbook provision
GEN 2.2.25GRP
An example of a rule20 being interpreted as cut back by GEN 2.2.23R is SYSC 6.1.1R, which requires a firm to maintain adequate policies and procedures to ensure compliance with its obligations under the regulatory system; SYSC 6.1.1R should be interpreted as applied by the FCA in respect of a PRA-authorised person’s compliance with regulatory obligations that are the responsibility of the FCA (for example, in respect of a bank maintaining policies and procedures to ensure compliance
SUP 10A.17.2GRP
If the firm or its advisers have further questions, they should contact the FCA's Contact Centre (see SUP 10A.12.6 G).
BIPRU 4.1.15GRP
An IRB permission will modify GENPRU 2.1.51 R (Calculation of the credit risk capital requirement) by amending, to the extent set out in the IRB permission, the calculation of the credit risk capital requirement in accordance with BIPRU 4 and the other provisions of the Handbook relating to the IRB approach.
BIPRU 4.1.21RRP
A reference in the Handbook to a provision of the IRB approach, in the case of a firm:(1) excludes any provision of the IRB approach set out in the Handbook that is not applied to that firm by its IRB permission;(2) includes any additional provision contained in the firm'sIRB permission; and(3) takes into account any other amendments made to the provisions in the Handbook relating to the IRB approach made by the firm'sIRB permission.
BIPRU 4.1.22RRP
To the extent that a firm'sIRB permission does not allow it to use a particular approach in the Handbook relating to the IRB approach the Handbook provision in question does not apply to the firm.
BIPRU 4.1.23RRP
If a provision of the Handbook relating to the IRB approach says that a firm may do something if its IRB permission allows it, a firm may do that thing unless its IRB permission expressly says that it may not do so except that:(1) BIPRU 4.2.18 R - BIPRU 4.2.19 R (Sequential implementation of IRB approach) and BIPRU 4.2.26 R (1)-BIPRU 4.2.26R (5) (Combined use of standardised approach with IRB approach) only apply if expressly permitted by a firm'sIRB permission;(2) a firm may
GEN 2.1.2RP
This chapter applies to every person to whom any provision in the Handbook applies. In relation to a provision other than a rule, the rules in this chapter apply as if they were part of that provision.3
SUP 9.1.2GRP
Individual guidance is guidance that is not given to persons or regulated persons generally or to a class of regulated person. It will normally be given to one particular person, which relates to its own particular circumstances or plans. It may be oral or written. Individual guidance will not be published but may at the FCA's discretion be converted to general guidance and published in the Handbook. Written individual guidance will often be labelled as such1
SUP 9.1.3GRP
A person may need to ask the FCA for individual guidance on how the rules and general guidance in the Handbook, the Act or other regulatory requirements apply in their particular circumstances. This chapter describes how a person may do this. Section 139A of the Act gives the FCA the power to give guidance consisting of such information and advice as it considers appropriate.
EG 7.5.3RP
1Chapter 6 of the General Provisions module of the FCA Handbook (GEN) contains rules prohibiting a firm or member from entering into, arranging, claiming on or making a payment under a contract of insurance that is intended to have, or has, the effect of indemnifying any person against a financial penalty.
EG 7.5.4RP
1Chapter 6 of the General Provisions of the FCA Handbook (GEN) also contains a rule prohibiting a firm, except a sole trader, from paying a financial penalty imposed by the FCA on a present or former employee, director or partner of the firm or of an affiliated company.
CONC 12.1.2GRP
The purpose of these rules is to provide that certain provisions of the Handbook or of a Regulatory Guide:3(1) that would otherwise apply to persons with an interim permission are not to apply; or(2) are to apply to those persons with the modifications specified in the table in CONC 12.1.4 R.
CONC 12.1.3RRP
The modules or parts of the modules of the appropriate regulator'sHandbook of rules and guidance or of a Regulatory Guide3 listed in the table in CONC 12.1.4 R to this chapter:(1) do not apply, to the extent set out in the table, to a person with an interim permission with respect to the carrying on of a credit-related regulated activity or operating an electronic system in relation to lending5; or (2) are to apply to such a person with respect to the carrying on of a credit-related
CONC 12.1.4RRP

Table: Disapplied or modified modules or provisions of the Handbook

Module

Disapplication or modification

Senior Management Arrangements, Systems and Control sourcebook (SYSC)

[FCA]

SYSC 6.1.4C R (requirement of debt management firm or credit repair firm to appoint a compliance officer) does not apply to a firm with an interim permission.

SYSC 6.3.8 R (responsibility for anti-money laundering systems and controls) does not apply to a firm with only an interim permission.

SYSC 6.3.9 R (requirement to appoint a money laundering reporting officer) does not apply to a firm with only an interim permission.

Fees manual (FEES)

[FCA]

The Fees manual does not apply in respect of the fee provided for in FEES 8.1.1R (1), except for the rules and guidance in FEES 2.3 and FEES 8.1.

3Threshold Conditions (COND)

Guidance applies with necessary modifications to reflect Chapter 4 of Part 8 of the Financial Services and Markets Act 2000 (Regulated Activities) (Amendment) (No 2) Order 2013 (see Note 1).

Note 1

A firm is treated as having an interim permission on and after 1 April 2014 to carry on credit-related regulated activity4 or operating an electronic system in relation to lending5 under the Financial Services and Markets Act 2000 (Regulated Activities) (Amendment) (No.2) Order 2013 if it met the conditions set out in Chapter 4 of Part 8 of that Order. Section 55B(3) of the Act (satisfaction of threshold conditions) does not require the FCA or PRA to ensure that the firm will satisfy, and continue to satisfy, in relation to the credit-related regulated activities4 or operating an electronic system in relation to lending5 for which it has an interim permission, the threshold conditions for which that regulator is responsible. The FCA or PRA can, however, exercise its power under section 55J of the Act (variation or cancellation on initiative of regulator) or under section 55L of the Act (in the case of the FCA) or section 55M of the Act (in the case of the PRA) (imposition of requirements by the regulator) in relation to a firm if, among other things, it appears to the FCA or PRA that the firm is failing, or is likely to fail, to satisfy the threshold conditions in relation to the credit-related regulated activities4 or operating an electronic system in relation to lending5 for which it has an interim permission for which the regulator is responsible. The guidance4 in COND should be read accordingly.

4444

3Client Assets (CASS)

CASS does not apply with respect to credit-related regulated activity to a firm with7:

(1)

only an interim permission; or

(2) an interim permission that is treated as a variation of permission;

if the firm acts in accordance with the provisions of paragraphs 3.42 and 3.43 of the Debt management (and credit repair services) guidance (OFT366rev) previously issued by the Office of Fair Trading, as they were in effect immediately before 1 April 2014.

77577

3Supervision manual (SUP)

SUP 3 (Auditors), SUP 10A (FCA Approved persons), SUP 10C (FCA senior management regime for approved persons in relevant authorised persons) 8 and SUP 12 (Appointed representatives) (see Note 2) do not apply:

(1) to a firm with only an interim permission; or

(2) with respect to a credit-related regulated activity or operating an electronic system in relation to lending5 for which a firm has an interim permission that is treated as a variation of permission,7

except that SUP 3.10 and SUP 3.11 apply to a firm in relation to its designated investment business that comprises operating an electronic system in relation to lending.7

7

Note 2

A firm may not be a principal in relation to a regulated activity for which it has interim permission. A firm with interim permission may, however, be an appointed representative in relation to a regulated activity which it does not have interim permission to carry on (article 59 of the Financial Services and Markets Act 2000 (Regulated Activities) (Amendment) (No 2) Order 2013).

SUP 6 (Applications to vary and cancel Part 4A permission and to impose, vary or cancel requirements) applies:

(1) with necessary modifications to reflect Chapter 4 of Part 8 of the Financial Services and Markets Act 2000 (Regulated Activities) (Amendment) (No 2) Order 2013 (see Note 3);

(2) with the modifications to SUP 6.3.15D9 and SUP 6.4.5D9 set out in paragraph 1.2 of this Schedule.

Note 3

If a firm with interim permission applies to the appropriate regulator under section 55A of the Act for Part 4A permission to carry on a regulated activity or under section 55H or 55I of the Act to vary a Part 4A permission that the firm has otherwise than by virtue of the Financial Services and Markets Act 2000 (Regulated Activities) (Amendment) (No 2) Order 2013 by adding a regulated activity to those to which the permission relates, the application may be treated by the appropriate regulator as relating also to some or all of the regulated activities for which the firm has interim permission.

SUP 11 (Controllers and close links) does not apply to a firm with only an interim permission (see Note 4).

Note 4

A firm is not to be regarded as an authorised person for the purposes of Part 12 of the Act (control over authorised person) if it has only an interim permission (see article 59 of the Financial Services and Markets Act 2000 (Regulated Activities) (Amendment) (No 2) Order 2013).

For a firm with only an interim permission

(1) SUP 15.5.1 R, SUP 15.5.2 G, SUP 15.5.4 R, SUP 15.5.5 R are modified so that the words "reasonable advance", "and the date on which the firm intends to implement the change of name" and "and the date of the change" are omitted; and

(2) SUP 15.7.1 R, SUP 15.7.4 R and SUP 15.7.5A R are modified so that a notification of a change in name, address or telephone number must be made using the online Consumer Credit Interim Permissions system available on the FCA's website.

(3) If in a notification to the FCA the firm is required to enter its FRN number it must include it interim permission number.

SUP 16 (Reporting requirements) does not apply to a firm with only an interim permission except for SUP 16.14.10

7776

SUP 16.11 and SUP 16.12 apply to a firm, which was an authorised person immediately before 1 April 2014, with an interim permission that is treated as a variation of permission with respect to credit-related regulated activity or operating an electronic system in relation to lending5 as if the changes to SUP 16.11 and SUP 16.12 effected by the Consumer Credit (Consequential and Supplementary Amendments) Instrument 2014 had not been made.10

6

3Disputes Resolution: Complaints sourcebook (DISP)

DISP 1.10 (Complaints reporting rules) and DISP 1.10A (Complaints data publication rules) do not apply to a person with only an interim permission.

DISP 1.10 (Complaints reporting rules) and DISP 1.10A (Complaints data publication rules) apply to a firm, which was an authorised person immediately before 1 April 2014, with an interim permission that is treated as a variation of permission with respect to credit-related regulated activity or operating an electronic system in relation to lending5 as if the changes to DISP 1.10 and DISP 1.10A effected by the Consumer Credit (Consequential and Supplementary Amendments) Instrument 2014 had not been made.

3Consumer Credit sourcebook (CONC)

CONC 10 (Prudential requirements for debt management firms) does not apply:

(1) to a firm with only an interim permission; or

(2) with respect to credit-related regulated activity or operating an electronic system in relation to lending5 for which a firm has an interim permission that is treated as a variation of permission.

3Perimeter Guidance manual (PERG)

For a firm only with an interim permission, PERG 5.11.13 G is modified so that following the words "which does not otherwise consist of carrying on regulated activities" is added "(other than a regulated activity carried on by a firm only with an interim permission listed in article 59A of the Financial Services and Markets Act 2000 (Regulated Activities)(Amendment)(No.2) Order 2013 (SI 2013/1881) which is to be disregarded for this purpose)".

Article 59A enables a firm with only an interim permission which would be able to benefit from article 72B of the Regulated Activities Order, but for carrying on the new consumer credit regulated activities to continue to do so.
SUP 13A.3.3GRP
An EEA firm which has qualified for authorisation is referred to in the Handbook as an incoming EEA firm.
SUP 13A.3.10GRP
(1) The guidance in PERG 2 is relevant to Treaty firms to help them determine if they require authorisation under the Act.(2) A Treaty firm which qualifies for authorisation is referred to in the Handbook as an incoming Treaty firm.
SUP 13A.3.12GRP
Under Schedule 5 to the Act (Persons concerned in collective investment schemes), a person who for the time being is an operator, trustee or depositary of a scheme which is a recognised scheme under section 264 of the Act is an authorised person. Such a person is referred to in the Handbook as a UCITS qualifier.
PERG 2.6.7GRP
The Regulated Activities Order uses two further terms in relation to contracts of insurance to identify those contracts under which rights are treated as contractually based investments.(1) The first term is 'qualifying contracts of insurance' (referred to as life policies in the Handbook). This identifies those long-term insurance contracts under which rights are treated as contractually based investments. This term does not cover long-term insurance contracts which are contracts
PERG 2.6.11GRP
Two categories of specified investments relating to debt instruments are dealt with under this heading. They broadly split into private debt and public sector debt.(1) The first category of 'instruments creating or acknowledging indebtedness' (defined in article 77 of the Regulated Activities Order and referred to in the Handbook as debentures) expressly refers to a range of instruments such as debentures, bonds and loan stock and contains a catch-all reference to 'any other instrument
PERG 2.6.11AGRP
6Alternative finance investment bonds (defined in article 77A of the Regulated Activities Order and referred to in the Handbook as alternative debentures) are a form of Sharia compliant bond (known as sukuk in the plural or sakk in the singular) which are intended to be regulated in an equivalent manner to conventional debt securities, where appropriate. Sukuk arrangements allow assets to be held for the benefit of investors in certificates issued by a company. The benefits
PERG 2.6.13GRP
The category of specified investment of instruments giving entitlements to investments (referred to in the Handbook as warrants) covers warrants and other instruments which confer an entitlement to subscribe for shares, alternative debentures, 6debentures and government and public securities. This is one of several categories of specified investments that are expressed in terms of the rights they confer in relation to other categories of specified investment. The rights conferred
CREDS 1.1.2GRP
(1) CREDS covers only the requirements associated with a Part 4A permission to accept deposits. The Conduct of Business sourcebook (COBS) sets out additional requirements for credit unions that are CTF providers in relation to cash deposit CTFs.(2) Other permissions are covered elsewhere in the Handbook. So, for example, a credit union seeking a permission to undertake a regulated mortgage activity would need to comply with the requirements in the Mortgages and Home Finance: Conduct
CREDS 1.1.4GRP
CREDS sets out rules and guidance that are specific to credit unions. CREDS 10 refers to other more generally applicable provisions of the Handbook that are likely to be relevant to credit unions with Part 4A permission to accept deposits. For details of these provisions, we would expect credit unions to access the full text in the Handbook.
SYSC 9.1.4GRP
Subject to any other record-keeping rule in the Handbook, the records required under the Handbook should be capable of being reproduced in the English language on paper. Where a firm is required to retain a record of a communication that was not made in the English language, it may retain it in that language. However, it should be able to provide a translation on request. If a firm's records relate to business carried on from an establishment in a country or territory outside the
SYSC 9.1.6GRP
Schedule 1 to each module of the Handbook sets out a list summarising the record-keeping requirements of that module.1 A common platform firm should also refer to the record-keeping requirements in the MiFID Org Regulation.551
REC 2.1.1GRP
(1) This chapter contains the recognition requirements for UK RIEs (other than RAPs) and sets out guidance on those requirements. Except for REC 2.5A, references to recognised body or UK recognised bodies in the rest of this chapter shall be read as referring to UK RIEs. 5(2) This chapter also contains “Notes” with informative text in relation to MiFID/MiFIR requirements applicable directly to UK RIEs operating trading venues.5(3) This chapter directs UK RIEs to certain recognition
REC 2.1.4GRP

Location of recognition requirements and guidance

Recognition Requirements Regulations

Subject

Section in REC 2/other parts of the Handbook5

Regulation 6

Method of satisfying recognition requirements

2.2

Part I of the Schedule

UK RIE recognition requirements

Paragraph 1

Financial resources

2.3

Paragraph 2

Suitability

2.4

5Paragraphs 2A and 2B

Management Body

2.4A

Paragraphs 3, 3A, 3B, 3C, 3D, 3E, 3G and 3H5

Systems and controls, market making agreements, halting trading, direct electronic access, co-location services, fee structures, algorithmic trading, tick size regimes, synchronisation of business clocks5

2.5

Paragraphs 4(1), 4(2)(aa) and 4C5

22

General safeguards for investors and publication of data regarding execution of transactions5

2.6

Paragraph 4(2)(a)

Access to facilities

2.7

5

5

5

Paragraph 4(2)(c)

Availability of relevant information

2.12

Paragraph 4(2)(d)

Settlement

2.8

Paragraph 4(2)(e)

Transaction recording

2.9

2Paragraph 4(2)(ea)

Conflicts

2.5

Paragraph 4(2)(f) and 4(2)(fa)5

Financial crime and market abuse

2.10

Paragraph 4(2)(g)

Custody

2.11

Paragraph 4(3)

Definition of relevant information

2.12

5

2

5

5

5

2

5

5

Paragraph 6

Promotion and maintenance of standards

2.13

Paragraph 7

Rules and consultation

2.14

Paragraphs 7A and 9ZB (regulated markets only)5

2

Admission of financial instruments to trading

2.12

Paragraphs 7B, 7C and 9ZC (regulated markets only)5

2

Access to facilities

2.7

5Paragraphs 7BA & 7BB

Position management and position reporting re commodity derivatives

2.7A

2Paragraph 7D

Settlement and clearing facilitation services5

2.8

Paragraphs 7E and 7F5

2

Suspension and removal of financial instruments from trading

2.6

Paragraph 8

Discipline

2.15

Paragraph 9

Complaints

2.16

Paragraphs 9A, 9B, 9C, 9D, 9E, 9F, 9G, 9H and 9ZD5

2

Operation of a multilateral trading facility or an organised trading facility5

2.16A/MAR 5 and MAR 5A

5Paragraph 9ZA (regulated markets only)

Order execution

2.6

5Paragraph 9K

Provision of data reporting services

2.16B/ MAR 9

Part II of the Schedule

UK RIE default rules in respect of market contracts

2.174
SUP 15.11.6AGRP
4The effect of section 64C of the Act and SUP 15.11.6R is that the reporting obligation in section 64C of the Act and in this section: (a) only applies to relevant authorised persons; and(b) only covers persons who are subject to COCON (who are called conduct rules staff in the FCA Handbook) rather than to the whole workforce of a relevant authorised person.
SUP 15.11.7GRP
A firm should make a separate notification about a person under section 64C of the Act where:(1) it has made a notification to the FCA about a person pursuant to SUP 15.3.11R(1)(a) because of a breach of COCON2; and(2) it subsequently takes disciplinary action against the person for the action, failure to act, or circumstance, that amounted to a breach of COCON.
GEN 1.3.1GRP
The FCA5 recognises that there may be occasions when, because of a particular emergency, a person (generally a firm, but in certain circumstances, for example in relation to price stabilising rules, an unauthorised person) may be unable to comply with a particular rule in the Handbook. The purpose of GEN 1.3.2 R is to provide appropriate relief from the consequences of contravention of such a rule in those circumstances.1993
GEN 1.3.2RRP
(1) If any emergency arises which:(a) makes it impracticable for a person to comply with a particular rule in the Handbook; (b) could not have been avoided by the person taking all reasonable steps; and(c) is outside the control of the person, its associates and agents (and of its and their employees);the person will not be in contravention of that rule to the extent that, in consequence of the emergency, compliance with that rule is impracticable. (2) Paragraph (1) applies only
EG 1.1.2RP
3In the areas set out below, the Act expressly requires the FCA to prepare and publish statements of policy or procedure on the exercise of its enforcement and investigation powers and in relation to the giving of statutory notices. (1) section 63C requires the FCA to publish a statement of its policy on the imposition, and amount, of financial penalties on persons that perform a controlled function without approval; (1-A) 1section 63ZD requires the FCA, among other things, to
EG 1.1.8RP
3The material in this guide does not form part of the FCAHandbook and is not guidance on rules, but it is 'general guidance' as defined in section 139B of the Act. If you have any doubt about a legal or other provision or your responsibilities under the Act or other relevant requirements, you should seek appropriate legal advice from your legal adviser.
COLL 13.1.2GRP
This chapter sets out various obligations, additional to those found elsewhere in the Handbook, that persons listed in COLL 13.1.1 R must comply with in relation to the operation of a feeder NURS and its qualifying master scheme.
FINMAR 2.1.2GRP
The purpose of this chapter is to provide guidance in relation to the FCA's functions under the short selling regulation.2222Note: Other parts of the Handbook that may also be relevant to natural and legal persons to whom the short selling regulation applies include:Chapter 2 of SUP (the Supervision manual) and DEPP (the Decision Procedure and Penalties manual).The following Regulatory Guides are also relevant:1. the Enforcement Guide (EG)
MAR 5A.2.2GRP
MAR 5A.3.9R also sets out how the obligations of an investment firm under articles 16, 24, 25, 27 and 28 (as transposed in the FCA Handbook) apply to a firm operating an OTF in respect of that operation.
SYSC 13.3.1AGRP
3The following is a non-exhaustive list of rules and guidance in the Handbook that are relevant to a firm's management of operational risk: (1) COBS contains rules and guidance that can relate to the management of operational risk; for example, COBS 2 (Conduct of business obligations), COBS 4 (Communicating with clients, including financial promotions), COBS 6 (Information about the firm, its services and remuneration), COBS 7 (Insurance mediation), COBS 9 (Suitability (including