Related provisions for DISP App 1.4.6
41 - 60 of 76 items.
A firm must ensure that advice provided to a customer, whether before the firm has entered into contract with the customer or after, is provided in a durable medium and: (1) makes clear which debts will be included in any debt solution and which debts will be excluded from any debt solution; [Note: paragraph 3.38j of DMG](2) makes clear the actual or potential advantages, disadvantages, costs and risks of each option available to the customer, with any conditions that apply for
If a respondent is in doubt about the eligibility of a business, charity or trust, it should treat the complainant as if it were eligible. If the complaint is referred to the Financial Ombudsman Service, the Ombudsman will determine eligibility by reference to appropriate evidence, such as audited accounts or VAT returns.124
The following are the criteria that the appropriate regulator will take into account when considering whether the condition in BIPRU 2.1.24 R is going to be met:(1) the speed with which funds can be transferred or liabilities repaid to the firm and the simplicity of the method for the transfer or repayment;(2) whether there are any interests other than those of the firm in the subsidiary undertaking and what impact those other interests may have on the firm's control over the
The effect of MCOB 4.11.9R is that a SRB agreement provider is expected to advise2 in relation to a particular regulated sale and rent back agreement, unless it is reasonable for it to rely on another firm with permission to advise on regulated sale and rent back agreements,2 to have done so in relation to a particular transaction.2
When calculating a firm’s capital resources, the following adjustments apply to retained profits or (for sole traders or partnerships) current accounts figures:(1) a firm must deduct any unrealised gains or, where applicable, add back in any unrealised losses on cash flow hedges of financial instruments measured at cost or amortised cost;(2) a firm must de-recognise any defined benefit asset; (3) a firm may substitute for a defined benefit liability its deficit reduction amount
A statement of high net worth for the purposes of articles 60H(1)(d) and 60Q(c) of the Regulated Activities Order must have the following form and content: 2“Statement of High Net Worth(articles 60H(1) and 60Q of the Financial Services and Markets Act 2000 (Regulated Activities) Order 2001)2I/We* (insert full name) .............................................................. of (insert address and postcode).............................................................. confirm
(1) 3In considering whether a retirement interest-only mortgage that will be used to release capital is appropriate to the needs and circumstances of the customer for the purposes of MCOB 4.7A.2R, a firm must consider, in addition to the factors set out in MCOB 4.7A.6R, whether the benefits to the customer outweigh any adverse effect on:(a) the customer’s entitlement (if any) to means-tested benefits; and(b) the customer’s tax position.(2) In considering the factors set out in
In addition to the requirements set out in DTR 4.1 a listed company1 must include in its annual financial report1, where applicable, the following:1(1) a statement of the amount of interest capitalised by the group during the period under review with an indication of the amount and treatment of any related tax relief;(2) any information required by LR 9.2.18 R (Publication of unaudited financial information);(3) [deleted]1313(4) details of any long-term incentive schemes as required
5When a firm issues an illustration for a retirement interest-only mortgage that will be used to release capital, the firm must inform the customer that taking out the mortgage may affect the customer’s tax position and entitlement to benefits, and that the customer should consider taking advice on these issues before applying.
When self-assessment for income tax was first introduced, a number of providers set up schemes connected with their tax accounting and tax advisory services. In consideration of an annual fee, the provider undertakes to deal with any enquiries or investigations that HM Revenue and Customs might launch into the self-assessment that the provider completes for the recipient. The event covered by these schemes (an investigation) is both uncertain and adverse to the interests of the
If:(1) a major subsidiary undertaking of a listed company issues equity shares for cash or in exchange for other securities or to reduce indebtedness;(2) the issue would dilute the listed company's percentage interest in the major subsidiary undertaking; and(3) the economic effect of the dilution is equivalent to a disposal of 25% or more of the aggregate of the gross assets or profits (after the deduction of all charges except taxation) of the group;the issue is to be treated
(1) The APR must be calculated on the basis of the following assumptions:(a) the assumption that the customer will not be entitled to any income tax relief relating to the transaction other than relief under sections 266-7 of the Income and Corporation Taxes Act 1988 and Schedule 14-15 to the same Act without any deduction under section 274 of the Income and Corporation Taxes Act 1988;(b) the assumption that no assistance is given under the Home Purchase Assistance and Housing
For the purpose of BIPRU 3.2.25R (1)(e) (Prompt transfer of capital resources): 22(1) 2in the case of an undertaking that is a firm the requirement in BIPRU 3.2.25R (1)(e) for the prompt transfer of capital resources refers to capital resources in excess of the capital and financial resources requirements to which it is subject under the regulatory system; and2(2) 44[deleted](3) 4the FCA will consider the following criteria:(a) the speed with which funds can be transferred or
Without an explicit or implicit recommendation on the merits of buying, exchanging, redeeming, holding4 or selling an investment, advice will not be covered by article 53(1)3 if it is advice on:(1) the likely meaning of uncertain provisions in an investment agreement; or(2) how to complete an application form; or(3) the value of investments for which there is no ready market; or(4) the effect of contractual terms and their commercial consequences; or(5) how to structure a transaction
Price information is likely also to include at least the total premium (or the basis for calculating it so that the customer can verify it) and, where relevant:(1) for policies of over one year with reviewable premiums, the period for which the quoted premium is valid, and the timing of reviews;(2) other fees, administrative charges and taxes payable by the customer through the firm; and(3) a statement identifying separately the possibility of any taxes not payable through the
(1) Where a depositary of a master UCITS detects any irregularities with regards to the scheme which may have a negative impact on the relevant feeder UCITS, the depositary must immediately inform:(a) the FCA;(b) the feeder UCITS or, where applicable, its management company; and(c) the depositary of the feeder UCITS.(2) The irregularities referred to in (1) include, but are not limited to:(a) errors in the valuation of the scheme property performed in accordance with COLL 6.3.3
(1) Where a firm makes an offer to a lender to repay a customer's debts on behalf of a customer, the offer should be realistic, sustainable and in accordance with CONC 8.3.2 R should, in particular, have regard to the best interests of the customer. (2) A sustainable offer should enable the customer to meet repayments in full when they are due out of the customer's disposable income for the whole duration of the repayment proposal.(3) Setting the offer should take full account