Related provisions for BIPRU 8.5.10
121 - 140 of 210 items.
When considering whether a business unit is significant, the firm should take into account all relevant factors in the light of the firm's current circumstances and its plans for the future, including:(1) the risk profile of the unit; or(2) its use or commitment of a firm's capital; or(3) its contribution to the profit and loss account; or(4) the number of employees or approved persons in the unit; or(5) the number of customers of the unit; or(6) any other factor which makes the
(1) The FCA expects the report from the accountants to address at least the following matters:(a) that the level of over collateralisation meets the limits set out in the covered bond arrangements which are designed to ensure compliance with the requirement that the asset pool is capable of covering claims attaching to the bond in Regulation 17 (requirements on issuer in relation to the asset pool) of the RCB Regulations; and(b) that appropriate due diligence procedures (which
An applicant must keep copies of the following for six years after the admission to listing2:2(1) any agreement to acquire any assets, business or shares4 in consideration for or in relation to which the company's shares4are being issued;44(2) any letter, report, valuation, contract or other documents referred to in the prospectus, listing particulars, circular or other document issued in connection with those shares;44(3) the applicant'sconstitution as at the date of admission;(4)
(1) The operator of a recognised scheme must maintain facilities in the United Kingdom for any person, for inspection (free of charge) and for the obtaining (free of charge, in the case of the documents at (c), (d) and (e)3, and otherwise at no more than a reasonable charge) of copies in English of: 3(a) the instrument constituting the fund;44(b) any instrument amending the instrument constituting the fund;44(c) the latest prospectus (which must include the address where the facilities
The conditions referred to in ICOBS 8.4.4R (2)(d) and ICOBS 8.4.7R (1)(a)(ii) are that the tracing office is one which:(1) maintains a database which:(a) accurately and reliably stores information submitted to it by firms for the purposes of complying with these rules;(b) has systems which can adequately keep it up to date in the light of new information provided by firms;(c) has an effective search function which allows a person inputting data included on the database relating
1In addition, the FCA will consider, where relevant, factors including: (1) the extent to which the financial difficulties are, or are likely to be attributable to the management of the company or partnership, or to external factors, for example, market forces; (2) the extent to which it appears to the FCA that the company or partnership may, through an administrator, be able to trade its way out of its financial difficulties; (3) the extent to which the company or partnership
This chapter sets out rules and guidance on the role auditors play in the appropriate regulator's monitoring of firms' compliance with the requirements and standards under the regulatory system. In determining whether a firm satisfies the threshold conditions, the appropriate regulator has regard to whether the firm has appointed auditors with sufficient experience in the areas of business to be conducted by the firm. Auditors act as a source of information for the appropriate
An example under SUP 10C.12.35G is as follows.(1) In this example:(a) an individual is to perform an FCA-designated senior management function in an unlisted firm which currently operates only in the UK; and(b) the firm is planning a listing and a string of acquisitions which are projected to treble the size of its balance sheet and give it a global footprint over the next three years, but the candidate has never worked for an institution as large or as complex.(2) In this situation:(a)
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.127
8Where a company that has a premium listing has been subject to the provisions of LR 11.1.1A R, LR 11.1.1C R will continue to apply to the company until the publication of an annual financial report which: (1) contains the statements required under LR 9.8.4R (14)(a) and LR 9.8.4R (14)(c); and(2) does not contain a statement made under LR 9.8.4A R.
The conditions to which BIPRU 12.2.1R (2)(b) refers are that the firm's liquidity resources are:(1) under the day-to-day control of the UK branch's senior management;(2) held in an account with one or more custodians in the sole name of the UK branch;(3) unencumbered; and(4) for the purpose of the overall liquidity adequacy rule only, attributed to the balance sheet of the UK branch.
If the person with or for whom the firm is carrying on an activity is acting through an agent, the ability of the firm to treat the agent as its client under COBS 2.4.3 R3 (Agent as client) will not be available. For example, if a general insurer is effecting a general insurance contract through a general insurance broker who is acting as agent for a disclosed policyholder, the policyholder will be a client of the firm and the firm must comply with the Principles accordingly.
In determining whether a customer is a large business customer for the purposes of MCOB 1.2.3 R(1), a firm will need to have regard to the figure given for the customer's annual turnover in the customer's annual report and accounts or business plan. In addition, a firm may rely on information provided by the customer about the annual turnover, unless, taking a common-sense view of this information, it has reason to doubt it.
(1) The permanent risk management function must:(a) implement the risk management policy and procedures;(b) ensure compliance with the risk limit system, including statutory limits concerning global exposure and counterparty risk, as required by COLL 5.2 (General investment powers and limits for UCITS schemes) and COLL 5.3 (Derivative exposure) or, where appropriate, the relevant UCITS Home State measures implementing articles 41, 42 and 43 of the UCITS implementing Directive;(c)