Related provisions for SYSC 22.5.1
321 - 340 of 385 items.
A contravention of a rule in SYSC 11 to 2SYSC 21,7SYSC 22.8.1R, SYSC 22.9.1R or SYSC 288 does not give rise to a right of action by a private person under section 138D of the Act (and each of those rules is specified under section 138D(3) of the Act as a provision giving rise to no such right of action). 34437
1Statements of Principle issued under section 64A(1)(a) of the Act
Statement of Principle 1 An approved person must act with integrity in carrying out his accountable functions. |
Statement of Principle 2 An approved person must act with due skill, care and diligence in carrying out his accountable functions. |
Statement of Principle 3 An approved person must observe proper standards of market conduct in carrying out his accountable functions. |
Statement of Principle 4 An approved person must deal with the FCA, the PRA and other regulators in an open and cooperative way and must disclose appropriately any information of which the FCA or the PRA would reasonably expect notice. |
Statement of Principle 5 An approved person performing an accountable higher management function1 must take reasonable steps to ensure that the business of the firm for which they are 1responsible in their 1accountable function is organised so that it can be controlled effectively. |
Statement of Principle 6 An approved person performing an accountable higher management function1 must exercise due skill, care and diligence in managing the business of the firm for which they are1 responsible in their 1accountable function. |
Statement of Principle 7 An approved person performing an accountable higher management function1 must take reasonable steps to ensure that the business of the firm for which they are 1responsible in their 1accountable function complies with the relevant requirements and standards of the regulatory system. |
(1) If:434(a) (i) the scope of appointment of an appointed representative is extended to cover insurance distribution activities15 for the first time; and42(ii) the appointed representative is not included on the Financial Services Register as carrying on insurance distribution activities15 in another capacity; or42(b) the scope of appointment of an appointed representative ceases to include insurance distribution activity15;42the appointed representative's principal must give
(1) In order to discharge its functions under the Act, the FCA1 needs timely and accurate information about firms. The provision of this information on a regular basis enables the FCA1 to build up over time a picture of firms' circumstances and behaviour.777(2) Principle 11 requires a firm to deal with its regulators in an open and cooperative way, and to disclose to the FCA1 appropriately anything relating to the firm of which the FCA1 would reasonably expect notice. The reporting
(1) The authorised fund manager and depositary of a charity authorised investment fund may adopt a total return approach to the allocation or distribution of income where this is provided for in:(a) the instrument constituting the fund; and (b) the prospectus.(2) Under a total return approach the authorised fund manager may make transfers between the capital account and the income account in addition to those in COLL 6.8.3R(3A)(c).(3) The authorised fund manager and depositary
In assessing the threshold conditions set out in paragraphs 2C and 3B of Schedule 6 to the Act6, factors which the FCA6 will take into consideration include, among other things, whether: 6(1) it is likely that the FCA6 will receive adequate information from the firm, and those persons with whom the firm has close links, to enable it to determine whether the firm is complying with the requirements and standards under the regulatory system for which the FCA is responsible6 and to
(1) This guidance applies to policies bought as secondary products to revolving credit agreements (such as store cards or credit cards).(2) Price information should be given in a way calculated to enable a typical customer to understand the typical cumulative cost of taking out the policy. This does not require oral disclosure where there is a sales dialogue with a customer. However, consistent with Principle 7, a firm should ensure that this element of price information is not
(1) The rules in (2) do not apply to a firm with respect to a regulated mortgage activity or a home purchase activity2 exclusively concerning a distance contract if the following conditions are satisfied:2(a) the firm carries on the activity from an establishment maintained by the firm in an EEA State other than the United Kingdom; and(b) either the EEA State:(i) has implemented the Distance Marketing Directive3; or3(ii) has obligations in its domestic law corresponding to those
(1) The purposes of this chapter are to2:(a) set out the requirements on firms in relation to the adoption, and communication to UK-based employees, of appropriate internal procedures for handling reportable concerns made by whistleblowers as part of an effective risk management system (SYSC 18.3);2(b) set out the role of the whistleblowers’ champion (SYSC 18.4);2(c) require firms to ensure that settlement agreements expressly state that workers may make protected disclosures
Section 351A (Disclosure under the UCITS directive) of the Act provides that where a trustee of an AUT or the depositary of an ACS1 which is a master UCITS or a feeder UCITS, or any person acting on their behalf, makes a disclosure to comply with rules implementing Chapter VIII of the UCITS Directive, that disclosure is not to be taken as a contravention of any duty to which the person making the disclosure is subject. The OEIC Regulations (see regulation 83A) contain corresponding
A consumer's notice to cancel a distance contract may also operate to cancel any attached contract which is also a distance financial services contract. This is unless the consumer gives notice that cancellation of the contract is not to operate to cancel the attached contract. (See the Distance Marketing Regulations.) Where relevant, this should be disclosed to the consumer along with other information on cancellation.
A firm should ensure that a financial promotion:(1) for a product or service that places a client's capital at risk makes this clear;(2) that quotes a yield figure gives a balanced impression of both the short and long term prospects for the investment;(3) that promotes an investment or service whose charging structure is complex, or in relation to which the firm will receive more than one element of remuneration, includes the information necessary to ensure that it is fair, clear
When a consumer cancels a distance contract under this chapter, his notice may also operate to cancel any attached contract which is also a distance financial services contract unless the consumer gives notice that cancellation of the main contract is not to operate to cancel the attached contract (see regulation 12 of the Distance Marketing Regulations). Where relevant, this should be disclosed to the consumer along with other information on cancellation.
To comply with the requirements of COBS 21.2.4A R, a firm should:(1) disclose to policyholders the implications of any credit-risk exposure they may face in relation to the solvency of the reinsurer; and(2) suitably monitor the way the reinsurer manages the business in order to discharge its continuing responsibilities to policyholders.
For the purposes of MCOB 4.7A.2 R:(1) a regulated mortgage contract will not be suitable for a customer unless the regulated mortgage contract is appropriate to the needs and circumstances of the customer;(2) a firm must base its determination of whether a regulated mortgage contract is appropriate to a customer's needs and circumstances on the facts disclosed by the customer and other relevant facts about the customer of which the firm is or should reasonably be aware;(3) no