Related provisions for LR 14.3.3
181 - 200 of 209 items.
In determining whether or not a person's conduct complies with rule SC4 in COCON 2.2.4R, the factors which the FCA would expect to take into account include:(1) whether it would be reasonable for the individual to assume that the information would be of material significance to the regulator concerned; (2) whether the information related to the individual themselves or to their firm; and(3) whether any decision not to report the matter was taken after reasonable enquiry and analysis
In complying with the rule on systems and controls in relation to compliance, financial crime and money laundering (SYSC 3.2.6 R), a firm should maintain governance arrangements designed to ensure that it complies with, maintains and records, any applicable PPFM. These arrangements should:(1) be appropriate to the scale, nature and complexity of the firm'swith-profits business; and(2) include the approval of the firm'sPPFM by its governing body.
(1) In determining whether a UK recognised body's procedures for consulting members and other users of its facilities are appropriate, the FCA3 may have regard to the range of persons to be consulted by the UK recognised body under those procedures. 3(2) In the FCA's3 view, consultation with a smaller range of persons may be appropriate where limited, technical changes to a UK recognised body's rules are proposed.3(3) In the FCA's3 view, a UK recognised body's procedures may include
A firm may demonstrate compliance with MCOB 4.4A.9R(2)8 by, for example, undertaking one or more of the following: building a requirement for oral communication of the relevant information into its training of staff as evidenced by its training and compliance manuals; inserting appropriate prompts into paper-based or automated sales systems; and having procedures in place to monitor compliance by staff with that rule. What is required in each case will depend on all the circu
5The rules in MCOB 12.4 (Payment shortfall charges: regulated mortgage contracts) and MCOB 12.5 (Excessive charges: regulated mortgage contracts, home reversion plans and regulated sale and rent back agreements) apply to:6(1) second charge regulated mortgage contracts entered into before 21 March 2016, in relation to charges imposed on a customer for events occurring on or after 21 March 2016; and6(2) regulated mortgage contracts which are legacy CCA mortgage contracts secured
(1) The FCA2 attaches considerable importance to the timely submission by firms of reports. This is because the information that they contain is essential to the FCA's2 assessment of whether a firm is complying with the requirements and standards of the regulatory system and to the FCA2 understanding of that firm's business.222(2) DEPP 6.6.1 G to DEPP 6.6.5 G set out the FCA's2 policy in relation to financial penalties for late submission of reports and is in addition to the FCA's2
(1) Before using a non-standard method of internal client money reconciliation, a firm must:(a) establish and document in writing its reasons for concluding that the method of internal client money reconciliation it proposes to use will:(i) (for the normal approach to segregating client money) check whether the amount of client money recorded in the firm's records as being segregated in client bank accounts meets the firm's obligation to its clients under the client money rules
UK RIEs1which, under their rules, have market contracts are required to have default rules enabling them (among other things) to take action in relation to a member who appears to be unable to meet his obligations in respect of one or more unsettled market contracts. The detailed recognition requirements relating to the default rules are set out in REC 2.17. 1
Where an issuer acquires the shares or certificates representing equity securities of a target with a different listing category from its own and the issuer wishes to maintain its existing listing category, the FCA will generally be satisfied that a cancellation is not required on completion of a reverse takeover if: (1) the issuer will continue to be eligible for its existing listing category following completion of the transaction;(2) the issuer provides an eligibility letter
(1) In considering the factor at MCOB 8.5A.6R (2)(a), a firm should: (a) establish, on the basis of information given by the customer about his needs and objectives, whether these appear to be within the general scope of a local authority (or other) grant (for example where the customer requires funds for essential repairs to his property); and(b) refer a customer to an appropriate source such as his local authority or Citizens Advice Bureau (or other similar agency) to identify
Schedule to the Recognition Requirements Regulations, Paragraph 7B
2(1) |
The [UK RIE] must make transparent and non-discriminatory rules, based on objective criteria, governing access to, or membership of, its facilities. |
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(2) |
In particular those rules must specify the obligations for users or members of its facilities arising from - |
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(a) |
the constitution and administration of the [UK RIE]; |
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(b) |
rules relating to transactions on its trading venues4; |
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(c) |
its professional standards for staff of any investment firm or qualifying credit institution5 having access to or membership of a financial market operated by the [UK RIE]; |
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(d) |
conditions established under sub-paragraph (3)(c) for access to or membership of a trading venue4 operated by the [UK RIE] by persons other than investment firms or qualifying credit institutions5; and |
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(e) |
the rules and procedures for clearing and settlement of transactions concluded on a trading venue4 operated by the [UK RIE]. |
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(3) |
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[Note: see paragraph 9ZC below, replacing paragraph 7B(3)]4 |
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(4) |
[deleted]5 |
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| 4 | |||
by the competent authority of another EEA State (including a branch established in the United Kingdom of such a firm or institution) to have direct or remote access to or membership of, any trading venue4 operated by the [UK RIE] on the same terms as a UK firm. |
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(5) |
The [UK RIE] must make arrangements regularly to provide the [FCA]3 with a list of users or members of its facilities. 3 |
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(6) |
This paragraph is without prejudice to the generality of paragraph 4. |
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1The FCA recognises that some transfers of units arise by operation of law (such as upon death or bankruptcy of the unitholder, or otherwise) and are accordingly outside the control of the authorised contractual scheme manager. The authorised contractual scheme manager is expected to comply with its responsibilities under COLL 6.6.3B R (Redemption of ACS units by an authorised contractual scheme manager) in such cases by redeeming such units.
Where a firm seeks to demonstrate to the FCA that the effect of its non-compliance with the requirements of Part Three, Title II Chapter 3 of the UK CRR3 (Internal ratings based approach) is immaterial under article 146(b) of the UK CRR3 (Measures to be taken where the requirements cease to be met), the FCA expects the firm to have taken into account all instances of non-compliance with the requirements of the IRB approach and to have demonstrated that the overall effect of non-compliance
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 7provision 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
An example of a rule20 being interpreted as cut back by GEN 2.2.23R is SYSC 6.1.1R, which requires a firm to maintain adequate policies and procedures to ensure compliance with its obligations under the regulatory system; SYSC 6.1.1R should be interpreted as applied by the FCA in respect of a PRA-authorised person’s compliance with regulatory obligations that are the responsibility of the FCA (for example, in respect of a bank maintaining policies and procedures to ensure compliance