Related provisions for MCOB 6A.4.5

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COLL 6.5.5RRP
(1) Any directors of an ICVC other than the ACD must exercise reasonable care to ensure that the ACD undertakes the responsibilities allocated under COLL 6.6.3 R (1) (Functions of the authorised fund manager) in a competent manner and the ACD must give those directors the information and explanations they consider necessary for this purpose.(2) A director of an ICVC must not appoint an alternate director.(3) When there is no person acting as ACD, the directors of an ICVC have
LR 9.5.8RRP
A listed company must ensure that in relation to communicating information on an open offer:(1) if the offer is subject to shareholder approval in general meeting the announcement must state that this is the case; and(2) the circular dealing with the offer must not contain any statement that might be taken to imply that the offer gives the same entitlements as a rights issue unless it is an offer with a compensatory element.7
MCOB 9.3.2RRP

Table of modified cross-references to other rules.

This table belongs to MCOB 9.3.1 R.

Subject

Rule or guidance

Reference in rule or guidance

To be read as a reference to:

Variations

MCOB 5.1.3R(2)

MCOB 7

MCOB 7 as modified by MCOB 9

Part of loan not an equity release transaction2

2

MCOB 5.1.9G

MCOB 5.6.6R(2)

MCOB 9.4.6R(2)

Waiver of provisions

MCOB 5.1.10G

MCOB 5.6

MCOB 9.4.

Purpose

MCOB 5.2.1G

MCOB 5

MCOB 5 as modified by MCOB 9

Applying for a lifetime mortgage2

2

MCOB 5.3.2G

MCOB 5.6.26R and MCOB 5.6.27R

MCOB 9.4.26R and MCOB 9.4.27R

4Messages to be given when providing information on equity release transactions

MCOB 5.4.18AR (1)

MCOB 5.4.18AR (1)(a)

MCOB 4.7A.2 R

MCOB 4.4A.1R (1), MCOB 4.4A.2 R and MCOB 4.4A.4R (1)

MCOB 8.5A.2 R

MCOB 4.4A.1R (1), MCOB 4.4A.2 R and MCOB 4.4A.4R (1), each as applied by MCOB 8.3.1 R in modified form

4Messages to be given when customer requests an execution-only sale

MCOB 5.4.18BR (1)

MCOB 4.8A.14R (1) to MCOB 4.8A.14R (3)

MCOB 8.6A.4R (2)

4Guidance relevant to messages given to customer

MCOB 5.4.18C G

MCOB 5 Annex 1

MCOB 9 Annex 1 R for a lifetime mortgage; MCOB 9 Annex 2 R for a home reversion plan.

Tied products

MCOB 5.4.24G

MCOB 5.6.74R

MCOB 9.4.73R or MCOB 9.4.160R3

4Provision of illustrations: timing

MCOB 5.5.1 R (2)(e)

MCOB 4.8A.14R (1), (2) or (3)

MCOB 8.6A.4R (2)

Issue of offer document in place of illustration

MCOB 5.5.3G

MCOB 6.4 and MCOB 6.6

MCOB 6.4 and MCOB 6.6 as modified by MCOB 9

Customer's credit record

MCOB 5.5.16R

MCOB 5.5.15R(4)

MCOB 9.3.12R(3)
DEPP 6.7.3GRP

  1. (1)

    Subject to DEPP 6.7.3G(4) a settlement discount is available only in cases where a settlement agreement (which may be a focused resolution agreement) is reached during the period from commencement of an investigation until the FCA has:6

    33
    1. (a)

      a sufficient understanding of the nature and gravity of the breach to make a reasonable assessment of the appropriate penalty; and6

      33
    2. (b)

      communicated that assessment to the person concerned and given them reasonable opportunity to reach agreement as to the amount of the penalty ("stage 1").6

  2. (2)

    The communication of the FCA's3 assessment of the appropriate penalty for the purposes of DEPP 6.7.3G(1)(b)6 need not be in a prescribed form but will include an indication of the breaches alleged by the FCA3. It may include the provision of a draft warning notice.

    33
  3. (3)

    Subject to DEPP 6.7.3.G(4), in relation to any settlement agreement other than a focused resolution agreement the reduction in penalty will be as follows:6

    1. (a)

      30% if the agreement is concluded during stage 1; and6

    2. (b)

      0% in any other case.6

  4. (4)

    Where stage 1 has been started but no settlement agreement has been agreed before 1 March 2017:6

    1. (a)

      if any agreement is reached to settle the case between the period from the end of stage 1 until the expiry of the period for making representations, or, if sooner, the date on which the representations are sent in response to the giving of a warning notice, there will be a reduction of 20% in the penalty; and6

    2. (b)

      if any agreement is reached to settle the case between the expiry of the period of making representations, or, if sooner, the date on which representations are sent in response to the giving of a warning notice and the giving of a decision notice, there will be a reduction of 10% in the penalty.6

MCOB 13.1.6GRP
A firm may have entered into a mix of regulated mortgage contracts and non-regulated mortgage contracts with a customer secured on the same property. In such circumstances, if the regulated mortgage contract is in arrears, notwithstanding that the overall position in respect of the mortgages generally is not in arrears, the firm will need to comply with all the requirements of MCOB 13 in respect to the regulated mortgage contract. Where this involves providing the customer with
SYSC 19C.2.2GRP
(1) If a firm'sremuneration policy is not aligned with effective risk management, it is likely that employees will have incentives to act in ways that might undermine effective risk management. (2) The BIPRU Remuneration Code covers all aspects of remuneration that could have a bearing on effective risk management including salaries, bonuses, long-term incentive plans, options, hiring bonuses, severance packages and pension arrangements. In applying the BIPRU Remuneration Code,
PR 2.5.1RRP
Without prejudice to the adequate information of investors, if, in exceptional cases, certain information referred to in the PD Regulation that is required to be included in a prospectus is inappropriate to the issuer's activity or to the legal form of the issuer or to the transferable securities to which the prospectus relates, the prospectus must contain information equivalent to the required information (unless there is no such information). [Note: article 8.3 PD]
CASS 1.4.1RRP
In the case of OPS activity undertaken by an OPS firm, CASS applies with the following general modifications:(1) references to customer are to the OPS or welfare trust, whichever fits the case, in respect of which the OPS firm is acting or intends to act, and with or for the benefit of which the relevant activity is to be carried on; and(2) if an OPS firm is required by any rule in CASS to provide information to, or obtain consent from, a customer, that firm must ensure that the
EG 2.9.5RP
1The extent to which guidance and supporting materials are relevant will depend on all the circumstances of the case, including the type and accessibility of the statement and the nature of the firm's defence. It is for the decision maker (see paragraphs 2.15.1 to 2.15.3) - whether the RDC, Tribunal or an executive decision maker - to determine this on a case- by-case basis.
CONC 8.8.1RRP
A firm in relation to a customer with whom it has entered into a debt management plan must: (1) maintain contact with the customer; [Note: paragraph 3.44 of DMG](2) regularly monitor and review the financial position and circumstances of the customer; [Note: paragraph 3.44 of DMG](3) adapt the debt management plan to take into account relevant changes in the financial position and circumstances of the customer;[Note: paragraph 3.44 of DMG](4) inform the customer without delay
MAR 10.5.1GRP
1Regulation 27 of the MiFI Regulations provides the FCA with the power to: (1) require a person to provide information including all relevant documentation, on, or concerning: (a) a position the person holds in a contract to which a position limit relates; and (b) trades the person has undertaken, or intends to undertake, in a contract to which a position limit relates; and (2) require an operator of a trading venue to provide information including all relevant documentation
DEPP 6.5B.3GRP
(1) The FCA3 may increase or decrease the amount of the financial penalty arrived at after Step 2, but not including any amount to be disgorged as set out in Step 1, to take into account factors which aggravate or mitigate the breach. Any such adjustments will be made by way of a percentage adjustment to the figure determined at Step 2.3(2) The following list of factors may have the effect of aggravating or mitigating the breach:(a) the conduct of the individual in bringing (or
PERG 7.6.11GRP
If the FCA decides to grant the application it will issue a certificate. The certificate will normally be granted for an indefinite period. It will state what it is that the FCA considers constitutes the periodical or service in relation to which the FCA is satisfied that the exclusion in article 54 of the Regulated Activities Order applies. In many cases this will be self-evident. But it may sometimes be necessary to include further details in the certificate indicating what
COLL 7.2.1RRP
(1) The authorised fund manager may, with the prior agreement of the depositary, and must without delay, if the depositary so requires, temporarily1 suspend the issue, cancellation, sale and redemption of units in an authorised fund (referred to in this chapter as "dealings in units"), where due to exceptional circumstances it is in the interest of all the unitholders in the authorised fund. Where an authorised fund is a regulated money market fund, the authorised fund manager
MCOB 9.8.10RRP
If a customer requests, or agrees to, a change to a lifetime mortgage.3(other than a change as described in MCOB 7.6.7 R to MCOB 7.6.27 R (as modified by MCOB 9)) that changes the amount paid to the customer under a drawdown mortgage, or the amount that the customer will owe under an interest roll-up mortgage5, or both, a firm must provide the customer with the following information, in a single communication, before the change takes effect:3(1) the amount outstanding on the lifetime
SYSC 19C.1.8GRP
The FCA's policy on individual guidance is set out in SUP 9. Firms should particularly note the policy on what the FCA considers to be a reasonable request for guidance (see SUP 9.2.5 G). For example, where a firm is seeking guidance on a proposed remuneration structure, the FCA will expect the firm to provide a detailed analysis of how the structure complies with the BIPRU Remuneration Code, including the general requirement for remuneration policies, procedures and practices
COBS 4.2.4GRP
A firm should ensure that a financial promotion:(1) for a product or service that places a client's capital at risk makes this clear;(2) that quotes a yield figure gives a balanced impression of both the short and long term prospects for the investment;(3) that promotes an investment or service whose charging structure is complex, or in relation to which the firm will receive more than one element of remuneration, includes the information necessary to ensure that it is fair, clear
COLL 4.7.2RRP
(1) An authorised fund manager must6 draw up a short document in English containing key investor information6 for investors:6(a) in each UCITS scheme which it manages (a key investor information document); and6(b) in each KII-compliant NURS which it manages (a NURS-KII document).6(2) The words "key investor information" must be clearly stated in the key investor information document and NURS-KII document6.(3) Key investor information must include appropriate information about
LR 2.2.5GRP
The FCA may modify LR 2.2.4 R to allow partly paid securities to be listed if it is satisfied that their transferability is not restricted and investors have been provided with appropriate information to enable dealings in the securities to take place on an open and proper basis. [Note: articles 46 and 54 CARD]
REC 2.16A.1CRRP
3In paragraphs 9H(1) and (2) of the Schedule to the Recognition Requirements Regulations where the UK RIE must provide information in respect of an organised trading facility operated by it, such information must be provided to the FCA in writing and delivered by any one of the methods set out in REC 3.2.3R.