Related provisions for PERG 6.4.3
1001 - 1020 of 1114 items.
(1) The FCA expects it will generally be in the customer's best interests to maintain regular payments to lenders (even if the repayment is less than the full sum due).(2) An example where it might be in the customer's best interests not to repay at the rate necessary to meet interest and charges accruing is where there is insufficient disposable income to meet essential expenditure of the type referred to in CONC 8.5.3 G. Where that is the case, the firm should explain clearly
If a firm is found to have provided support to a securitisation this implies that the firm may be likely to provide future support to its securitisations, thus failing to achieve a significant transfer of risk. The FCA will consider taking appropriate measures to reflect this increased expectation after any instance of support is found.
(1) This rule applies to a UK firm operating a multilateral trading facility or an OTF and a UK branch of a third country investment firm operating a multilateral trading facility or an OTF.(2)
A firm must apply position management controls which enable an MTF or OTF at least to:
(a) monitor the open interest positions of persons;(b)
access information, including all relevant documentation, from persons about:
(i) the size and purpose of a position or exposure entered into;(ii)
Social housing firms undertake small amounts of home finance1business even though their main business consists of activities other than regulated activities. Their home financing1is only done as an adjunct to their primary purpose (usually the provision of housing) and is substantially different in character to that done by commercial lenders. Furthermore, they are subsidiaries of local authorities or registered social landlords which are already subject to separate regulation.
Reconciliation differences under GENPRU 1.3.34 R should not be reflected in the valuations under GENPRU 1.3 but should be disclosed to the FCA14 in prudential returns.10Firms which are subject to the reporting requirement under SUP 16.16 should disclose those reconciliation differences in the Prudent Valuation Return which they are required to submit to the FCA14 under SUP 16.16.4 R.
Section 340 of the Act gives the PRA6 power to make rules requiring an authorised person, or an authorised person falling into a specified class, to appoint an actuary3. The PRA has exercised its power to make such rules in PRA Rulebook: Solvency II firms: Actuaries; and PRA Rulebook: Non-Solvency II firms: Actuarial Requirements.5 The rule-making powers of the PRA and FCA6 under section 340 of the Act also extend to an actuary's3 duties.636666663336
In addition to obligations under MiFID, similar whistleblowing obligations apply to miscellaneous persons subject to regulation by the FCA under the following non-exhaustive list of EU legislation(1) article 32(3) of the Market Abuse Regulation, as implemented in section 131AA of the Act;(2) article 71(3) of the CRD (see IFPRU 2.4.1R in respect of IFPRU investment firms);(3) article 99d(5) of the UCITS Directive (see SYSC 4.1.1ER in respect of UKUCITS management companies, and
Operating processes and systems at separate geographic locations may alter a firm's operational risk profile (including by allowing alternative sites for the continuity of operations). A firm should understand the effect of any differences in processes and systems at each of its locations, particularly if they are in different countries, having regard to:(1) the business operating environment of each country (for example, the likelihood and impact of political disruptions or
(1) A firm should generally make one election under MCOB 14.1.5R for all of its MCD article (3)(1)(b) credit intermediation activity or all of its lending under MCD article 3(1)(b) credit agreements, at any given time.(2) Where a firm wishes to make different elections for different types of MCD article (3)(1)(b) credit intermediation activity or lending under MCD article 3(1)(b) credit agreements, it should maintain processes to ensure that the rules applicable to each type of
(1) An issuer's listed miscellaneous
securities must be admitted to trading on a RIE's market
for listed securities at
all times.(2) An issuer must
inform the FCA in writing as soon as possible if it
has:(a) requested a RIE to
admit or re-admit any of its listed miscellaneous securities to trading; or(b) requested a RIE to
cancel or suspend trading of any of its listed miscellaneous securities; or(c) been informed by a RIE that the trading of any of its listed miscellaneous
securities
(1) 1A firm's up-to-date list of mandates under CASS 8.3.2 R (1) must be maintained in a medium that allows the storage of information in a way accessible for future reference by the FCA or by an auditor preparing a report under SUP 3.10.4 R.(2) It must be possible for any corrections or other amendments, and the contents of the list prior to such corrections and amendments, to be easily ascertained.
An MCD mortgage lender may engage in tying practices where it can demonstrate to the FCA that the tied products or categories of product offered, on terms and conditions similar to each other, which are not made available separately, result in a clear benefit to the consumer taking due account of the availability and the prices of the relevant products offered on the market. This rule only applies to products which are marketed after 20 March 2014.[Note: article 12(3) of the
(1) Section 283A(1) (Master-feeder structures) of the Act, in implementation of article 59(1) of the UCITS Directive, provides that the operator of a UCITS scheme may not invest a higher proportion of scheme property in units of another UCITS than is permitted by rules made by the FCA implementing article 55 of the UCITS Directive, unless the investment is approved by the FCA in accordance with that section.(2) The FCA has implemented article 55(1) of the UCITS Directive in
(1) An authorised fund manager of a UCITS scheme or a UK UCITS management company of an EEA UCITS scheme must ensure the retention of the records referred to in COLL 6.13.2 R and COLL 6.13.3 R for a period of at least five years or, in exceptional circumstances and where directed by the FCA, for a longer period, determined by the nature of the instrument or portfolio transaction, where it is necessary to enable the FCA to exercise its supervisory functions under the UCITS Directive.(2)
(1) 3Except as set out in (3), a participant firm which does not conduct business in respect of which the FSCS may pay compensation4 and has no reasonable likelihood of doing so is exempt from a specific costs levy, or a compensation costs levy, or both, provided that:(a) it has notified the FSCS in writing that those conditions apply; and(b) the conditions in fact continue to apply.(2) The exemption takes effect from the date on which the notice was received by the FSCS, subject
(1) 2The Society must give the FCA a report as at the end of each calendar quarter in which any capacity is transferred.(2) The report referred to in (1) must reach the FCA within one month of the end of the relevant calendar quarter and must include information on:(a) the total capacity in syndicates transferred during the quarter, analysed by syndicate and method of transfer;(b) the number, and nature, of all investigations by the Society into conduct in the capacity transfer