Related provisions for BIPRU 8.5.3

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MCOB 11.8.1ERP
Where a customer is unable to:(1) enter into a new regulated mortgage contract or home purchase plan or vary the terms of an existing regulated mortgage contract or home purchase plan with the existing mortgage lender or home purchase provider; or(2) enter into a new regulated mortgage contract or home purchase plan with a new mortgage lender or home purchase provider;the existing mortgage lender or home purchase provider should not (for example, by offering less favourable interest
SYSC 4 Annex 1GRP

[Editor’s note: The text of this provision has been moved to SYSC 25 Annex 1G]4

EG 5.4.1RP
1Enforcement cases often involve multiple parties, for example a firm and individuals in the firm. Enforcement action may be appropriate against just the firm, just the individuals or both. In some cases, it will not be possible to reach an acceptable settlement unless all parties are able to reach agreement.
EG 19.25.1RP
4The FCA’s policy for using the powers given to it by the RAP Regulations is set out in REC. This includes, for example, its policy in relation to the power to impose a financial penalty on or censure a RAP (REC 2A.4) and its policy in relation to the power to give directions to a RAP (REC 4.6).
EG 16.4.2RP
1A disapplication order in relation to exempt regulated activities made against a member will be relevant should that member subsequently apply for authorisation under the Act. Whether or not such an application for authorisation is successful will depend on many factors, including the FCA's grounds for making the disapplication order. For example, if the order for disapplication of the exemption was made on the grounds of a breach of rules made under section 332(1) of the Act,
DEPP 8.3.1GRP
1Examples of situations where the FCA may use the own-initiative variation of approval power include where:(1) it has concerns about an SMF manager’s fitness to remain approved in relation to the performance of a designated senior management function but, in all the circumstances, it considers it appropriate to vary their approval by imposing one or more conditions or a time limitation, rather than making a prohibition order or withdrawing approval;(2) the nature or scope of the
MAR 1.8.6GRP
The following is an example of behaviour3which may amount to a contravention of article 12(1)(c) of the Market Abuse Regulation3: (1) a person posts information on an Internet bulletin board or chat room which contains false or misleading statements about the takeover of a company whose shares are financial instruments3 and the person knows that the information is false or misleading.33[Note: article 12(1)(c) of the Market Abuse Regulation.]
LR 6.13.2GRP
1In considering whether an applicant has satisfied LR 6.13.1R, the FCA will consider, among other things, whether the board of the applicant consists solely of non-executive directors and whether significant elements of the strategic decision-making of or planning for the applicant take place outside the applicant’s group, for example with an external management company.
SUP 16.3.16GRP
The firm is responsible for ensuring delivery of the required report38 by the due date. If a report is received by the FCA28 after the due date and the firm believes its delivery arrangements were adequate, it may be required to provide proof of those arrangements. Examples of such proof would be:494949(1) "proof of posting" receipts from a UK post office or overseas equivalent which demonstrates that the report was posted early enough to allow delivery by the due date in accordance
SUP 16.3.26GRP
Examples of reports covering a group are:(1) the compliance reports required from banks under SUP 16.6.4 R;(2) annual controllers reports required under SUP 16.4.5 R4949;(3) annual close links reports required under SUP 16.5.4 R;44(4) consolidated financial reports required from banks under SUP 16.12.5 R2424;(5) consolidated reporting statements required from securities and futures firms under 24SUP 16.12.11 R24.4417
BIPRU 14.2.9GRP
The operation of BIPRU 14.2.8 R can be illustrated by an example as follows: where the credit derivative is a first to default transaction, the appropriate percentage for the potential future credit exposure will be determined by the lowest credit quality of the underlying obligations in the basket. If there are non-qualifying items in the basket, the percentage applicable to the non-qualifying reference obligation should be used. For second and subsequent to default transactions,
BIPRU 14.2.24GRP
For example, in relation to BIPRU 14.2.23 R, collateral which is eligible only against trading bookexposures will not be applicable against non-trading bookexposures; and the large exposures limits on non-trading book positions will also remain applicable.
BIPRU 7.8.29GRP
The table in BIPRU 7.8.30G gives an example of the reduced net underwriting position calculation. The example is based on the firm starting with a commitment to underwrite £100 million of a new equity issue. Firms are reminded that in the case of an equity, the reduced net underwriting position should be treated under the simplified equity method (see BIPRU 7.8.27R (Simplified and standard equity methods) and BIPRU 7.8.27R).
BIPRU 7.8.30GRP

Table: Example of the reduced net underwriting position calculation

This table belongs to BIPRU 7.8.29G

Time

Net underwriting position (see BIPRU 7.8.17R)

Percentage reduction (see BIPRU 7.8.28R)

Reduced net underwriting position

At initial commitment 9.00am Monday

£100m gross amount is reduced by £20m due to sales/sub-underwriting commitments confirmed in writing at the time of initial commitment (see BIPRU 7.8.17R (1)) and (4)).

=

£80m

90%

£8m

Post initial commitment 9.02am Monday

Remaining £80m is reduced by £40m due to further sales, sub-underwriting commitments obtained and allocations granted (see BIPRU 7.8.17R (2) - (5)).

=

£40m

90%

£4m

At the end of working day 1

Remaining £40m is reduced to £20m due to further sales.

=

£20m

90%

£2m

End of working day 3

Remaining £20m is reduced to £5m due to further sales.

=

£5m

75%

£1.25 m

End of working day 4

Remaining £5m is reduced to £2m due to further sales.

=

£2m

50%

£1m

End of working day 5

Remaining £2m is reduced to £1m due to further sales.

=

£1m

25%

£0.75 m

Start of working day 6

£1m remaining

=

£1m

0%

£1m

REC 2.3.3GRP
In determining whether a UK recognised body has financial resources sufficient for the proper performance of its relevant functions, the FCA5 may have regard to:5(1) the operational and other risks to which the UK recognised body is exposed;(2) if the UK recognised body guarantees the performance of transactions in specified investments, the counterparty and market risks to which it is exposed in that capacity; 5(3) the amount and composition of the UK recognised body's capital;(4)
REC 2.3.17GRP
4The financial risk assessment should be based on a methodology which provides a reasonable estimate of the potential business losses which a UK RIE might incur in stressed but plausible market conditions. The FCA5 would expect a UK RIE to carry out a financial risk assessment at least once in every twelve-month period, or more frequently if there are material changes in the nature, scale or complexity of the UK RIE's operations or its business plans that suggest such financial
FEES 6.5.9BGRP
[deleted]156
FEES 6.5.13AGRP
For example, when the tariff base for a particular class10 is based on a firm'sannual eligible income the valuation period for that class10 is the firm's last financial year ending in the year to 31 December preceding the financial year13 of the compensation scheme13 for which the calculation is being made.131010105
DEPP 6.5A.3GRP
(1) The FCA2 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 2.2(2) The following list of factors may have the effect of aggravating or mitigating the breach:(a) the conduct of the firm in bringing (or failing
DEPP 6.5A.4GRP
(1) If the FCA2 considers the figure arrived at after Step 3 is insufficient to deter the firm who committed the breach, or others, from committing further or similar breaches then the FCA2 may increase the penalty. Circumstances where the FCA2 may do this include:222(a) where the FCA2 considers the absolute value of the penalty too small in relation to the breach to meet its objective of credible deterrence;2(b) where previous FCA2 action in respect of similar breaches has failed
DISP 2.7.4GRP
125In determining whether an enterprise19 meets the tests for being a micro-enterprise or a small business19, account should be taken of the enterprise’s 'partner enterprises' or 'linked enterprises' (as those terms are defined in the Micro-enterprise Recommendation). For example, where a parent company holds a majority shareholding in a complainant, if the parent company does not meet the tests for being a micro-enterprise or a small business19 then neither will the complainant.
DISP 2.7.7GRP
125(1) 12518DISP 2.7.6R (5)and DISP 2.7.6R (6) include, for example, employees covered by a group permanent health policy taken out by an employer, which provides in the insurance contract that the policy was taken out for the benefit of the employee.(2) DISP 2.7.6R(2B) includes any complaint that the respondent did not do enough to prevent, or respond to, an alleged authorised push payment fraud. 18
DISP 2.8.4GRP
19An example of exceptional circumstances might be where the complainant has been or is incapacitated.
DISP 2.8.8GRP
713If a complaint relates to the sale of a payment protection contract, knowledge by the complainant that there was a problem with the sale of the payment protection contract generally (for example where there has been a rejection of a claim on the grounds of ineligibility or exclusion, or the complainant has received a customer contact letter explaining that they may have been mis-sold) would not in itself ordinarily be sufficient to establish for the purposes of the three-year
FEES 4.4.9DRP
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