Related provisions for REC 3.9.3
181 - 200 of 252 items.
Examples of conduct that may contravene CONC 7.14.10 R would, depending on the circumstances, include where following an unacceptable offer a firm immediately:(1) sends field agents to visit the customer or communicates to the customer that it will do so;[Note: annex A5 (box) to DCG](2) substantially increases the rate of interest or imposes a substantial charge or communicates that is will do either of those things.
(1) 4The authorised fund manager may transfer capital and income between an intermediate holding vehicle and the scheme by the use of inter-company debt if the purpose of this is for investment in immovables and repatriation of income generated by such investment. In using inter-company debt, the authorised fund manager should ensure the following:(a) a record of inter-company debt is kept in order to provide an accurate audit trail; and(b) interest paid out on the debt instruments
It would also be an indicator that a publisher or broadcaster might be making arrangements falling within article 25(2) if he receives a commission or other form of reward based on the amount of regulated business done as a result of his carrying the promotion. This would be on the basis that the existence of the financial interest will inevitably have a bearing on the purpose for which the arrangements are viewed as having been made by him. However, the article 27 exclusion will
(1) Failure to comply with the provisions means that the agreement becomes unenforceable while the failure to comply persists, and the courts have no discretion to allow enforcement.(2) In such cases, a firm should in no way, either by act or omission, mislead a customer as to the enforceability of the agreement.(3) In particular, a firm should not in such cases either threaten court action or other enforcement of the debt or imply that the debt is enforceable when it is not.(4)
(1) 4Where a customer has a payment shortfall in relation to a regulated mortgage contract or home purchase plan, a firm must not attempt to process more than two direct debit requests in any one calendar month.(2) Where a firm’s direct debit request, in respect of a customer who has a payment shortfall on a regulated mortgage contract or home purchase plan, has been refused, on at least one occasion in each of two consecutive months, due to insufficient funds, the firm must:(a)
Consideration should be given, among other things, to the impact on the appointed representative's financial position of any debts owed to, or by, the appointed representative. Indicators that an appointed representative is experiencing financial problems may include failure to adhere to repayment schedules for any debts, failure to meet any other financial commitments or requests for advances of commission.
A firm should establish and maintain appropriate systems and controls for the management of operational risks that can arise from employees. In doing so, a firm should have regard to:(1) its operational risk culture, and any variations in this or its human resource management practices, across its operations (including, for example, the extent to which the compliance culture is extended to in-house IT staff);(2) whether the way employees are remunerated exposes the firm to the
If the initial contact7 is with a consumer5 with a view to concluding a distance mortgage mediation contract,6 a distance home purchase mediation contract or a distance regulated sale and rent back mediation contract6,4 a firm must:7546(1) in addition to initial disclosure information and any other required information, provide the consumer5 with the information in MCOB 4 Annex 3 in a durable medium in good time before the conclusion of the distance mortgage mediation contract,6distance
When considering entering into a first charge regulated mortgage contract2 or varying a first charge regulated mortgage contract2 or home purchase plan, a firm need not apply the rules in MCOB 11.6.2 R to MCOB 11.6.18 R inclusive (as modified by MCOB 11.6.25 R to MCOB 11.6.31 R and MCOB 11.6.33 R to MCOB 11.6.38 R, where applicable) if it has established, acting reasonably, that the following conditions are satisfied:2(1) the customer has: (a) an existing first charge regulated
(1) The authorised fund manager of a UCITS scheme that is a merging UCITS or a receiving UCITS in a proposed UCITS merger must ensure that a document containing appropriate and accurate information on the merger is provided to the unitholders of that scheme so as to enable them to:(a) make an informed judgment about the impact of the proposal on their investment;(b) exercise their rights under regulation 12 (Right of redemption) of the UCITS Regulations 2011; and(c) where applicable,
Any communication, including a non-real time financial promotion, must describe: (1) any early repayment charge as an “early repayment charge” and not use any other expression to describe such charges;(2) any higher lending charge as a “higher lending charge” and not use any other expression to describe such charges;(3) any lifetime mortgage as a “lifetime mortgage” and not use any other expression to describe such a mortgage;(4) any home reversion plan as a “home reversion plan”
In the FCA's view, article 33 will apply, for example, where persons are finding potential customers for independent financial advisers, advisory stockbrokers or independent investment managers. In this case, the introducer is allowed to receive a payment for making introductions. However, it will not apply where the introductions are made either to a person whose advice or management services would not be independent (for example, a product provider such as a life office or a
Where consideration of the root causes of complaints suggests recurring or systemic problems in the firm's sales practices for payment protection contracts, the firm should, in assessing an individual complaint, consider whether the problems were likely to have contributed (at step 1) 1to a breach or failing or (at step 2) to a failure to disclose commission 1in the individual case, even if those problems were not referred to specifically by the complainant.
(1) Before entering into a regulated credit agreement or regulated consumer hire agreement, or before a P2P agreement is entered into, under which the customer may grant a continuous payment authority, the firm must provide the customer with an adequate explanation of the matters in (2).(2) The matters referred to in (1) are:(a) what a continuous payment authority is and how it works;(b) how the continuous payment authority will be applied by the firm, including where the firm
1The duty in section 300B(1) of the Act does not apply to any of the following:(1) any regulatory provision which is required under 6any enactment or rule of law in the United Kingdom; or22(2) (a) the specification of the standard terms of any derivative which a UK RIE proposes to admission to trading, or the amendment of the standard terms of any derivative already admitted to trading; or(b) the specification or any amendment of standard terms relating to the provision of clearing
A firm must make available clear and comprehensible information about MCD regulated mortgage contracts at all times on paper, or on another durable medium or in electronic form, that includes:(1) the identity and the geographical address of the firm;(2) the purposes for which the credit may be used;(3) the forms of security3;(4) the possible duration of the MCD regulated mortgage contracts;(5) the types of available borrowing rate, indicating whether fixed or variable or both,