Related provisions for PERG 4.4.21

PERG 4.4.16G01/01/2021

5A mortgage has a wide meaning for the purpose of the definition of a regulated mortgage contract. It includes:(1) a legal mortgage;(2) equitable security;(3) (in Scotland) a heritable security; (4) [deleted]8

PERG 4.6.10G01/07/2005

For the purposes of article 53A, advice must be given to or directed at someone who is acting as borrower or potential borrower. As indicated in PERG 4.4.2 G (Which borrowers?), this means the individual or trustee to whom the credit has been provided by the lender or who is looking to obtain the credit on the security of his property. Advice given to a body corporate will not generally be caught because the advice will not concern a regulated mortgage contract, as defined. But

PERG 4.6.30G31/01/2020

The main exclusion from advising on regulated mortgage contracts relates to advice given in periodical publications, regularly updated news and information services and broadcasts (article 54 of the Regulated Activities Order (Advice given in newspapers etc)). The exclusion applies to advising on regulated mortgage contracts if the principal purpose of any of these publications, news and information services or broadcasts7 is neither to give advice of the kind to which7 article

PERG 2.7.7AG03/01/2018

There are ten93 arranging activities that are regulated activities under the Regulated Activities Order. These are:39(1) arranging (bringing about) deals in investments which are securities, relevant investments, structured deposits26 or the underwriting capacity of a Lloyd's syndicate or membership of a Lloyd's syndicate (article 25(1));(2) making arrangements with a view to transactions in investments which are securities, relevant investments, structured deposits26 or the underwriting

SUP 16.12.11R01/01/2022

The applicable data items referred to in SUP 16.12.4 R are set out according to firm type in the table below:

89Description of data item	Firms’prudential category and applicable data items (note 1)
	MIFIDPRU investment firms	Firms other than MIFIDPRU investment firms
	MIFIDPRU investment firms	IPRU(INV)Chapter 3	IPRU(INV)Chapter 5	91	IPRU(INV)Chapter 13
Solvency statement	No standard format (note 4)	No standard format (note 6)	No standard format (note 4)
Balance sheet	FSA029 (note 2)	FSA029 (note 5)	FSA029	91	Section A RMAR
Income statement	FSA030 (note 2)	FSA030 (note 5)	FSA030	91	Section B RMAR
Capital adequacy	MIF001 (note 2 and 3)	FSA033 (note 5)	FSA034 or FSA035 or FIN071 (note 7)	91	Section D1 RMAR
Supplementary capital data for collective portfolio management investment firms	FIN067 (note 13)
ICARA assessment questionnaire	MIF007 (note 3)
Threshold conditions					Section F RMAR
Client money and client assets	FSA039	FSA039	FSA039	91	Section C RMAR
CFTC	FSA040 (note 8)	FSA040 (note 8)	FSA040 (note 8)	91	FSA040 (note 8)
Liquidity	MIF002 (notes 2, 3 and 10)
Metrics reporting	MIF003 (notes 2 and 3)
Concentration risk (non-K-CON)	MIF004 (notes 2, 3 and 11)
Concentration risk (K-CON)	MIF005 (notes 2, 3 and 11)
Group capital test	MIF006 (notes 3 and 12)
Liquidity Questionnaire	MLA-M (note 9)	MLA-M (note 9)	MLA-M (note 9)	91	MLA-M (note 9)
Note 1	All firms (except MIFIDPRU investment firms in relation to items reported under MIFIDPRU 9) must, when submitting the completed data item required, use the format of the data item set out in SUP 16 Annex 24R. Guidance notes for completion of the data items are contained in SUP 16 Annex 25G.
Note 2	A UK parent entity of an investment firm group to which consolidation applies under MIFIDPRU 2.5 must also submit this report on the basis of the consolidated situation.
Note 3	Data items MIF001 – MIF007 must be reported in accordance with the rules in MIFIDPRU 9.
Note 4	Only applicable to a firm that is a sole trader or partnership. Where the firm is a partnership, this report must be submitted by each partner.
Note 5	Except if the firm is an adviser (as referred to in IPRU-INV (3)-60(4)R).
Note 6	Only required in the case of an adviser (as referred to in IPRU-INV (3)-60(4)R)) that is a sole trader.
Note 7	FSA034 must be completed by a firm not subject to the exemption in IPRU(INV) 5.4.2R, unless it is a firm whose permitted business includes establishing, operating or winding up a personal pension scheme, in which case FIN071 must be completed. FSA035 must be completed by a firm subject to the exemption in IPRU(INV) 5.4.2R.
Note 8	Only applicable to firms granted a Part 30 exemption order and operating an arrangement to cover forward profits on the London Metals Exchange.
Note 9	Only applicable to RAG 3 firms carrying on home financing or home finance administration connected to regulated mortgage contracts, unless as at 26 April 2014 the firm’s Part 4A permission was and remains subject to a restriction preventing it from undertaking new home financing or home finance administration connected to regulated mortgage contracts.
Note 10	Does not apply to an SNI MIFIDPRU investment firm which has been granted an exemption from the liquidity requirements in MIFIDPRU 6.
Note 11	Only applicable to a non-SNI MIFIDPRU investment firm.
Note 12	Only applicable to a parent undertaking to which the group capital test applies.
Note 13	Only applicable to firms that are collective portfolio management investment firms.

PERG 7.4.2G23/02/2018

But the exclusion applies only if the principal purpose of the publication or service is not:(1) to advise on securities or structured deposits9 or relevant investments or P2P agreements or7home finance transactions1 or amounts to carrying9 on advising on conversion or transfer of pension benefits; 5 or15(2) to lead or enable persons:(a) to buy, sell, subscribe for or underwrite securities, structured deposits9 or relevant investments; or1(aa) to enter into a relevant article

PERG 8.36.3G03/01/2018

Table Controlled activities

1.	Accepting deposits
2.	Effecting and carrying out contracts of insurance
3.	Dealing in securities, structured deposits11and contractually based investments
4.	Arranging deals in investments
4A.4	Operating a multilateral trading facility4 10
104B.	Credit broking
104C.	Operating an electronic system in relation to lending
114D.	Operating an organised trading facility
5.	Managing investments10
105A.	Debt adjusting
105B.	Debt counselling
6.	Safeguarding and administering investments
7.	Advising on investments
8.	Advising on syndicate participation at Lloyd's
9.	Providing funeral plan contracts
10.	Providing qualifying credit
11.3 3	Arranging qualifying credit etc
12.3 3	Advising on qualifying credit etc10
1012A.	Providing relevant consumer credit
1012B.	Providing consumer hire
313.	Providing a home reversion plan
314.	Arranging a home reversion plan
315.	Advising on a home reversion plan
316.	Providing a home purchase plan
317.	Arranging a home purchase plan
318.	Advising on a home purchase plan
718A.	Providing a regulated sale and rent back agreement
718B.	Arranging a regulated sale and rent back agreement
718C.	Advising on a regulated sale and rent back agreement
19.3 3	Agreeing to do anything in 3 to 18C7 above 3 7

SUP 12.5.2G01/01/2021

(1) Regulations 3(1) 8and (2) of the Appointed Representatives Regulations make it a requirement that the contract between the firm and the appointed representative (unless it prohibits the appointed representative from representing other counterparties) contains a provision enabling the firm to:488(a) impose such a prohibition; or(b) impose restrictions as to the other counterparties which the appointed representative may represent, or as to the types of investment in relation

FEES 4.4.9D01/04/2013

3To the extent that a firm4 has provided the information required by FEES 4.4.7 D to the FCA as part of its compliance with another provision of the Handbook, it is deemed to have complied with the provisions of that direction.444

TC App 1.1.1R30/04/2021

1Activity	Products/Sectors		Is there an appropriate qualification4requirement? 4
Designated investment business carried on for a retail client
Providing basic advice	1.	Stakeholder products excluding a deposit-based stakeholder product	No
Advising or giving personal recommendations (as relevant)13	2.	Giving personal recommendations on securities 13 which are not stakeholder pension schemes, personal pension schemes 7 or broker funds	Yes
	3.	Giving personal recommendations on derivatives 13	Yes2
	4.	Giving personal recommendations on retail investment products 13 which are not broker funds 6 6	Yes2
	5.	Giving personal recommendations on13 Friendly Society life policies where the employee is not reasonably expected to receive a remuneration of greater than £1000 a year in respect of such sales	No2
	6.	Giving personal recommendations on13 Friendly Society tax-exempt policies (other than Holloway sickness policies where the Holloway policy special application conditions are met)5	Yes2
	7.	Giving personal recommendations on long-term care insurance contracts 13	Yes2
	8.	Giving personal recommendations on investments 13 in the course of corporate finance business	Yes2
	9.	Advising on syndicate participation at Lloyd's	Yes2
	129A.	Advising on P2P agreements	Yes
Undertaking the activity in column 2	10.	Broker fund adviser	Yes
Undertaking the activity in column 2	11.	Pension transfer specialist	Yes2
Giving personal recommendations13 and dealing	12.	Giving personal recommendations on and dealing in securities 13 which are not stakeholder pension schemes, personal pension schemes 7 or broker funds	Yes
Giving personal recommendations13 and dealing	13.	Giving personal recommendations on and dealing in derivatives 13	Yes2
4Dealing	13A.8	Securities which are not stakeholder pension schemes, personal pension schemes 7 or broker funds	No
4Dealing	413B.8	Derivatives	No
15 MiFID business bidding	13C15	emissions auction products 15	No15
8		14
Managing	14.	Investments	Yes
Overseeing on a day-to-day basis	15.	Operating a collective investment scheme or undertaking the activities of a trustee or depositary of a collective investment scheme	Yes
	16.	Safeguarding and administering investments or holding client money	Yes2
	17.	Administrative functions in relation to managing investments	Yes2
	18.	Administrative functions in relation to effecting or carrying out contracts of insurance which are life policies	Yes2
	19.	Administrative functions in relation to the operation of stakeholder pension schemes	Yes2
Mortgage Activity10 and reversion activity carried on for a customer 10
9 10Advising; arranging (bringing about) an execution-only sale, excluding variations to an existing home finance transaction except where the effect is to change all or part of the home finance transaction from one interest rate to another. See Note 3, which for the avoidance of doubt forms part of this rule.	20	Regulated mortgage contracts for a non-business purpose	Yes
	20A	Regulated mortgage contracts for a business purpose	No
	21	Equity release transactions	Yes
9Designing scripted questions for execution-only sales	21A	Regulated mortgage contracts for a non-business purpose	Yes
	21B	Regulated mortgage contracts for a business purpose	No
	22	Equity release transactions	Yes
Overseeing execution-only sales on a day-to-day basis9 9	23.	Equity release transactions	Yes
11 MCD credit agreement activities carried on for consumers
11manufacturing	23A	an MCD credit agreement	No
11 entering into a regulated mortgage contract or entering into a regulated credit agreement as lender	23B	an MCD credit agreement	No
11 arranging (bringing about) regulated mortgage contracts or acting as an MCD credit broker	23C	an MCD credit agreement	No
11 advising on a regulated mortgage contract or advising on a regulated credit agreement for the acquisition of land	23D	an MCD credit agreement	No
11directly managing or supervising employees who carry on any of the MCD credit agreement activities 23A to 23D	23E	an MCD credit agreement	No
[Note: article 9(1) of the MCD]11
Non-investment insurance business carried on for a consumer
Giving personal recommendations13	24.	Giving personal recommendations on non-investment insurance contracts 13	No
3 Regulated sale and rent back activity carried on for a customer
Advising	25.	Regulated sale and rent back agreements	No
Overseeing an execution-only sale 10 on a day-to-day basis 10	26.	Regulated sale and rent back agreements	No
Notes:
1.	In the Appendix the heading and types of business specified in the headings are to be read in conjunction with the paragraphs appearing beneath them.
2.	Thus, for example, paragraph 24,13 consistent with the heading above it, refers only to personal recommendations given in relation to13 non-investment insurance contracts given to a consumer.10 3 3
122A.	In relation to activity number 9A, see TC 2.1.5HR and TC 2.1.6R(2). There is no qualification for this activity in the list of qualifications set out in TC Appendix 4E. However, the effect of TC 2.1.5HR is that an employee advising on P2P agreements must be qualified to the same standard as if that employee were providing investment advice to retail clients on retail investment products.
103.	For the purpose of product numbers 20, 20A and 21 the activity of arranging (bringing about) referred to in the activity column: (a) includes activity which would be arranging (bringing about) but for the exclusion in article 28A of the Regulated Activities Order; and (b) does not include activities which taken on their own would not fall within the definition of that activity. For these purposes no account should be taken of the fact that for an activity to be a regulated activity it must be carried on by way of business (see PERG 4.3).
4.	In this Appendix, paragraphs 23A, 23B, 23C, 23D and 23E relate to the implementation of article 9(1) of the MCD. The specified activities do not, in and of themselves, attract a qualification requirement. However, where those activities overlap with those specified under the heading "mortgage activity and reversion activity carried on for a customer", qualification requirements may apply.

Related provisions for PERG 4.4.21

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