Related provisions for CONC 8.7.7
401 - 420 of 610 items.
(1) 1A firm must not enter into an agreement with a customer under which a charge is, or may become, payable for an optional additional product unless the customer has actively elected to obtain that specific product. (2) A firm must not impose a charge on a customer for an optional additional product under an agreement entered into on or after 1 April 2016 unless the customer actively elected to obtain that specific product before becoming bound to pay the charge.(3) A firm must
In determining whether a firm has complied with:5(1) any provision in or under the Act such as any Principle or other rule; or5(2) any provision in Part 3 of the MCD Order; or5(3) any qualifying EU provision specified, or of a description specified, for the purpose of section 39(4) of the Act by the Treasury by order,5anything that an appointed representative has done or omitted to do as respects the business for which the firm has accepted responsibility will be treated as having
(1) Failure to comply with CONC 6.5.2 R, which sets out when a firm must give notice to a customer where a regulated credit agreement has been assigned to a third party, will be taken into account by the FCA in taking decisions about a firm'spermission or about taking other action.[Note: paragraph 3.7g of DCG](2) CONC 6.5.2 R makes it clear that where arrangements for servicing the credit change at the time of the assignment of a regulated credit agreement, notice must be given
A subordinated loan/debt must not form part of the prudential resources of the firm unless it meets the following conditions:(1) it has an original maturity of:(a) at least five years; or(b) it is subject to five years' notice of repayment;(2) the claims of the subordinated creditors must rank behind those of all unsubordinated creditors;(3) the only events of default must be non-payment of any interest or principal under the debt agreement or the winding up of the firm;(4) the
This section sets out the requirements a firm must comply with when it allows another person to hold client money, other than under CASS 7.13.3 R, without discharging its fiduciary duty to that client. Such circumstances arise when, for example, a firm passes client money to a clearing house in the form of margin for the firm's obligations to the clearing house that are referable to transactions undertaken by the firm for the relevant clients. They may also arise when a firm passes
2A firm may provide information that would otherwise be subject to a contractual or other requirement to keep it in confidence if it is provided for the purposes of anything required to be done in respect of the skilled person's collection or updating of information under section 166A (Appointment of skilled person to collect and update information) of the Act.
(1) An EEA firm must inform a1customer, before any commitment is entered into, of the EEA State in which the head office or, where appropriate, the branch1 with which the contract is to be concluded, is situated.11(2) Any documents issued to the customer must convey the information required by this rule.[Note: article 184(1) of the Solvency II Directive1]1
If a firm ceases to be a participant firm or carry out activities within one or more classes54 part way through a financial year6 of the compensation scheme:44(1) it will remain liable for any unpaid levies which the FSCS has already made on the firm; and41(2) the FSCS may make one or more levies4 upon it (which may be before or after the firm5 has ceased to be a participant firm or carry out activities within one or more classes5,4 but must be before it ceases to be an authorised
Examples of when the FCA may cancel the listing of securities include (but are not limited to) situations where it appears to the FCA that:(1) the securities are no longer admitted to trading as required by these rules; or(2) the issuer no longer satisfies its continuing obligations for listing, for example if the percentage of shares in public hands falls below 25% or such lower percentage as the FCA may permit (the FCA may however allow a reasonable time to restore the percentage,
(1) A3firm must arrange for orderly records to be created and kept that are sufficient to enable it to comply with the requirements of this chapter.12(2) This rule only applies to records in relation to the following questions in Part One of SYSC 22 Annex 1R (Template for regulatory references given by SMCR firms2 and disclosure requirements): (a) question (E) (fit and proper); and (b) question (F) (disciplinary action).
(1) The authorised fund manager of a UCITS scheme that is a merging UCITS or a receiving UCITS in a proposed UCITS merger, must in conjunction with any other authorised fund manager or, as the case may be, management company of an EEA UCITS scheme that is a party to the proposed merger, draw up common draft terms of the proposed UCITS merger.(2) The common draft terms in (1) must set out the following particulars:(a) an identification of the type of UCITS merger and of the UCITS
(1) CONC 1.2.2 R requires a firm to ensure its employees and agents comply with CONC and that it takes reasonable steps to ensure other persons who act on its behalf do so. This rule would apply where a debt collector acts as agent or on behalf of a lender.(2) Situations where it may be justified for a firm to refuse to deal with a person acting on behalf of a customer may include, for example, refusing to deal with that person where the firm is able to show that the person has
(1) This rule applies to a request by a person to the FCA to supply information referred to in section 87I of the Act to the competent authority of a relevant Host State.(2) The request must be in writing and must include:(a) the relevant prospectus as approved (if it has already been approved); and(b) a translation of the summary if required by the competent authority of a relevant host State.4[Note: See PR 3.1.-1EU for the additional requirements where a request is made prior