Related provisions for CONC 8.7.7
301 - 320 of 616 items.
Where the FCA1 considers that it is unlikely to make a recognition order, it will discuss its concerns with the applicant with a view to enabling the applicant to make changes to its rules or guidance, or other parts of the application. If the FCA1 decides to refuse to make a recognition order, it will follow the procedure set out in section 298 of the Act (Directions and revocation: procedure) (which applies in consequence of section 290(5) of the Act (Recognition orders)) which
Some software services involve the generation of specific buy, sell or hold signals relating to particular investments. These signals are liable, as a general rule, to be advice for the purposes of article 53(1)1 (as well as financial promotions) given by the person responsible for the provision of the software. The exception to this is where the user of the software is required to use enough control over the setting of parameters and inputting of information for the signals
In CONC (unless otherwise stated in or in relation to a rule), the following matters, among others, of which a firm is aware or ought reasonably to be aware, may indicate that a customer is in financial difficulties:(1) consecutively failing to meet minimum repayments in relation to a credit card or store card; (2) adverse accurate entries on a credit file, which are not in dispute;(3) outstanding county court judgments for non-payment of debt;(4) inability to meet repayments
This chapter assists in achieving the statutory objective of protecting consumers. In particular:(1) COLL 3.2 (The instrument constituting the fund2) contains requirements about provisions which must be included in the instrument constituting the fund2 to give a similar degree of protection for investors in an ICVC, AUT or ACS;1 and221(2) COLL 3.3 (Units) provides rules and guidance which deal with the classes of units to ensure that investors in each class are treated equall
1A firm must make an adequate record of each non-real time financial promotion of qualifying credit, home reversion plan or regulated sale and rent back agreement which it has confirmed as complying with the rules in this chapter. The record must be retained for a year from the date at which the financial promotion was last communicated.
The purpose of this chapter is to establish the requirements for the proper calculation of the APR. As a cost measure which facilitates comparisons between similar mortgages offered on a similar basis, the APR is an integral element of the rules relating to financial promotions of qualifying credit1 and disclosure.1
The purpose of this chapter is
to implement article 27(3)1of MiFID,
which deals with the requirements on systematic
internalisersto make available to the public data relating to the quality of execution of transactions1. It also provides a
rule (MAR 6.4.1R)1requiring investment firms to notify the
FCA
when they become, or cease to
be, a systematic internaliser,
and which gives effect to articles 15(1) and 18(4)1 of MiFIR. Finally, MAR 6.4A.1R
1A firm must make appropriate records to demonstrate compliance with the rules in this sourcebook and keep them for the following periods after an employee stops carrying on the activity:(1) at least 5 years for MiFID business;(2) 3 years for non-MiFID business; and(3) indefinitely for a pension transfer specialist.[Note: article 9(4) of the MCD]2
1The FCA may be alerted to possible contraventions or breaches by complaints from the public or firms, by referrals from other authorities or through its own enquiries and supervisory activities. Firms may also bring their own contraventions to the FCA's attention, as they are obliged to do under Principle 11 of the Principles for Businesses and rules in the FCA's Supervision manual.
The rules and guidance in this chapter are in addition to the provisions of (in relation to Great Britain credit unions)2section 11 of the Credit Unions Act 1979 and (in relation to Northern Ireland credit unions) article 28 of the Credit Unions (Northern Ireland) Order 19852 in relation to loans made by credit unions. Under these provisions (1) a Great Britain credit union may make a loan only to:22(a) a member of the credit union who is an individual; and(b) a corporate member
1A UK RIE and an RAP2must immediately notify the FCA3of:3(1) significant breaches of its rules; or(2) disorderly trading conditions on any of its marketsor auctions; or42(3) 4conduct that may indicate behaviour prohibited under the Market Abuse Regulation; or(4) 4system disruptions in relation to a financial instrument.[Note:article 31(2)4, first sentence (part) andarticle 54(2)4, first sentence (part) of MiFID. The rest of article 31(2)4, first sentence (in so far as it relates
The Listing Principles and, if applicable, the Premium Listing Principles5 are designed to assist listed companies in identifying their obligations and responsibilities under the listing rules, disclosure requirements6, transparency rules and corporate governance rules.5 The Listing Principles and Premium Listing Principles5 should be interpreted together with relevant rules and guidance which underpin the Listing Principles and the Premium Listing Principles.55
1On its web site, the FCA gives2 anonymous examples of where it has decided not to investigate or take enforcement action in relation to a possible rule
breach because of the way in which the firm has conducted itself when putting the matter right. This is part of an article entitled ‘The benefits to firms and individuals of co-operating with the FCA2’. However, in those cases where enforcement action is not taken and/or a formal investigation is not commenced,
1When it decides whether to exercise its power to disqualify an auditor or actuary under section 345(1), and what the scope of any disqualification will be, the FCA will take into account all the circumstances of the case. These may include, but are not limited to, the following factors: (1) the nature and seriousness of any breach of rules and the effect of that breach: the rules are set out in SUP 3 (Auditors) and SUP 4 (Actuaries), and in the case of firms which are ICVCs,
(1) 1This rule applies if the mineral company applies for the admission of its equity shares to premium listing and cannot comply with LR 6.6.1R (control of business) because the mineral company does not hold controlling interests in a majority (by value) of the properties, fields, mines or other assets in which it has invested.(2) The mineral company must demonstrate that it has a reasonable spread of direct interests in mineral resources and has rights to participate actively