Related provisions for BIPRU 2.3.11
101 - 120 of 170 items.
(1) The purpose of this section2 is to set out the requirements for firms in the retail mortgage, investment, consumer credit lending8 and pure protection contract markets specified in SUP 16.11.1 R to report individual product sales data, and to report individual performance data on regulated mortgage contracts,7 to the FCA17. In the case of firms in the sale and rent back market, there is a requirement to record, but not to submit, sales data13. These requirements apply6 whether
A firm should keep a record of and be ready to explain to its supervisory contacts in the appropriate regulator the reasons for any difference between the deficit reduction amount and any commitment the firm has made in any public document to provide funding in respect of a defined benefit occupational pension scheme.
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
The customer function does not extend to an individual who is performing the functions in SUP 10A.10.7R (1) to SUP 10A.10.7R (2) or SUP 10A.10.7R (5) to (7) and who is based overseas and who, in a 12-month period, spends no more than 30 days in the United Kingdom to the extent that he is appropriately supervised by a person approved for this function.
(1) [deleted]41(2) As a consequence of CASS 11.3.4R4, in a CASS large debt management firm (including a not-for-profit debt advice body fitting into that category) the function described in CASS 11.3.4R is required to be discharged by a director or senior manager.1(3) [deleted]4313(4) [deleted]413(4A) 3For an SMCR firm, the function in CASS 11.3.4R is not a separate controlled function and performing that function does not require approval as an approved person. Paragraphs (5)
The FSAFCA would normally expect a firm to carry out a check on its appointed representative's financial position every year (more often, if necessary) and to review critically the information obtained. An appropriately experienced person (for example, a financial accountant) should carry out these checks.
This chapter is relevant to an applicant for a Part 4A permission7, as if that applicant were a firm. Where the chapter refers to appropriate7supervisory contact, the applicant should read this as being the usual supervisory7contact at7 the appropriate regulator7. Further, this chapter is relevant to a person who is subject to rules made by the appropriate regulator7 and where the chapter refers to a firm, this includes that person5.177577
A firm should keep a record of, and be ready to explain to its supervisory contacts in the FCA, the reasons for any difference between the deficit reduction amount and any commitment the firm has made in any public document to provide funding in respect of a defined benefit occupational pension scheme.
The power to impose a suspension, restriction, condition,4 limitation or disciplinary prohibition4 is a disciplinary measure which the FCA2 may use in addition to, or instead of, imposing a financial penalty
or issuing a public censure.
The principal purpose of imposing such a measure3 is to promote
high standards of regulatory and/or market conduct by deterring persons who have committed breaches from
committing further breaches,
helping to deter other persons from
committing
[deleted] 5
(1) When considering how to notify the FCA under SUP 10C.14.18R or SUP 10C.14.22R, a firm should have regard to the urgency and significance of a matter. If appropriate, the firm should also notify its usual supervisory contact at the FCA by telephone or by other prompt means of communication, before submitting a written notification.(2) Oral notifications should be given directly to the firm's usual supervisory contact at the FCA. An oral notification left with another person
Once a financial conglomerate has become a financial conglomerate and subject to supervision in accordance with this chapter10, the figures in the financial conglomerate definition decision tree are altered as follows:(1) the figure of 40% in the box titled Threshold Test 1 is replaced by 35%;(2) the figure of 10% in the box titled Threshold Test 2 is replaced by 8%; and(3) the figure of six billion Euro in the box titled Threshold Test 3 is replaced by five billion Euro.
1In determining the weight to be given to any relevant matter, the FCA will consider its significance in relation to the regulated activities for which the firm has, or will have, permission, in the context of its ability to supervise the firm adequately, having regard to the FCA'sstatutory objectives. In this context, a series of matters may be significant when taken together, even though each of them in isolation might not give serious cause for concern.