Related provisions for PERG 5.4.5

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To access the FCA Handbook Archive choose a date between 1 January 2001 and 31 December 2004 (From field only).

COND 2.5.6GRP
Examples of the kind of particular considerations to which the FCA may have regard when assessing whether a firm will satisfy, and continue to satisfy, this threshold condition include, but are not limited to, whether:1515(1) the firm has been open and co-operative in all its dealings with the FCA15and any other regulatory body (see Principle 11 (Relations with regulators)) and is ready, willing and organised to comply with the requirements and standards under the regulatory system
ICOBS 3.1.2GRP
Guidance on expressions derived from the Distance Marketing Directive and on the Directive's application in the context of insurance distribution activity2 can be found in ICOBS 3 Annex 1 G.
FEES 6.1.2GRP
(1) Firms which are not participant firms (such as certain types of 16 service companies, ICVCs and, for the purposes of FEES 6, pre-IP completion day incoming EEA firms1615) are not required to contribute towards the funding of the compensation scheme. (2) The12 fees levied in relation to the carrying on of insurance market activities by members will be imposed on the Society rather than individually on each member (see FEES 6.3.24 R).
INSPRU 7.1.13RRP
Based upon this information and other information available to it, the appropriate regulator will consider whether the capital resources requirement applicable to the firm is appropriate. Where relevant, the firm'sECR will be a key input to the appropriate regulator's assessment of the adequacy of the firm'scapital resources. For firms carrying on general insurance business, the ECR is calculated in accordance with INSPRU 1.1.72C R.5
ICOBS 4.3.1RRP
(1) Where a fee is payable, the firm must inform1 its customer of the amount of the fee1.(2) The information in (1)1 must be given before the customer incurs liability to pay the fee, or before conclusion of the contract of insurance1, whichever is earlier.(3) To the extent that it is not possible for an amount to1 be given, a firm must give the basis for its1 calculation.[Note: articles 19(2) and (5) of the IDD]1
PERG 8.31.5GRP
Certain of the exclusions in the Regulated Activities Order that apply to the regulated activity of advising on investments are not available where the advice either relates to a contract of insurance or amounts to insurance distribution or reinsurance distribution3. This results from the requirements of the IDD3 and is explained in more detail in PERG 5 (Guidance on insurance distribution3 activities).
PERG 8.36.6GRP

Table Application of Exemptions to Forms of Promotions

Financial Promotion Order

Applies to

Article No.

Title and PERG 8 reference (where applicable)

Unsolicited real time

Solicited real time

Non-real time

(solicited or unsolicited)

12

Communications to overseas recipients (8.12.2G)

*1

*

*

13

Communications from customers and potential customers (8.12.9G)

*

*

*

14

Follow up non-real time communications and solicited real time communications (8.12.10G)

*

*

15

Introductions (8.12.11G)

*

*

*1

16

Exempt persons (8.12.12G)

*2

*3

*3

17

Generic promotions (8.12.14G and 8.21.4G)

*

*

*

17A1

Communications caused to be made or directed by unauthorised persons (8.6.7AG)

*

*

*

18

Mere conduits (8.12.18G)

*

*

*

18A

Outgoing electronic commerce communications: mere conduits, caching and hosting (8.12.18G)1

*

*

*

19

Investment professionals (8.12.21G and 8.21.5G)

*

*

*

20

Communications by journalists (8.12.23G)

*

20A

Promotion broadcast by company director etc (8.12.23G and 8.21.6G)

*

*

*

12

12

12

12

12

22

Deposits : non-real time communications (8.13)

*

23

Deposits : real time communications (8.13)

*

*

24

Relevant insurance activity : non-real time communications (8.13)

*

25

Relevant insurance activity : non-real time communications : reinsurance and large risks (8.13)

*

26

Relevant insurance activity : real time communications (8.13)

*

*

28

One-off non-real time communications and solicited real time communications (8.14.3G)

*

*

28A

One-off unsolicited real time communications (8.14.11G)

*

28B1

Real time communications: introductions in connection with qualifying credit (8.17.12G)

*

*

29

Communications required or authorised by enactments

*

*

*

30

Overseas communicators: solicited real time communications (8.14.15G)

*

31

Overseas communicators: non-real time communications to previously overseas customers (8.14.17G)

*

32

Overseas communicators: unsolicited real time communications to previously overseas customers (8.14.16G)

*

33

Overseas communicators: unsolicited real time communications to knowledgeable customers (8.14.16G)

*

34

Governments, central banks etc

*

*

35

Industrial and provident societies

*

*

12

12

12

12

37

Financial markets

*

*

38

Persons in the business of placing promotional material

*

*

*

39

Joint enterprises (8.14.19G)

*

*

*

40

Participants in certain recognised collective investment schemes

*

*

41

Bearer instruments: promotions required or permitted by market rules (8.14.42G)

*

*

42

Bearer instruments: promotions to existing holders (8.14.42G)

*

*

43

Members and creditors of certain bodies corporate (8.14.41G and 8.21.8G)

*

*

44

Members and creditors of open-ended investment companies

*

*

45

Group companies

*

*

*

46

Qualifying credit to bodies corporate (8.17.10G)1

*

*

*10

1046A

Promotions of credit etc. for business purposes (8.17-A.10G)

*

*

*

47

Persons in the business of disseminating information (8.21.10G)

*

*

*

48

Certified high net worth individuals (8.14.21G)

*

*

49

High net worth companies, unincorporated associations etc (8.14.25G)

*

*

*

50

Sophisticated investors (8.14.27G)

*

*

*

50A

Self-certified sophisticated investors {8.14.28AG)

*5

*

*

51

Associations of high net worth or sophisticated investors (8.14.29G)

*

*

52

Common interest group of a company (8.14.30G)

*

*

53

Settlors, trustees and personal representatives

*

*

*

54

Beneficiaries of trust, will or intestacy

*

*

*

55

Communications by members of professions (8.15.1G)

*

*

55A

Non-real time communication by members of the professions. (8.15.5G)

*

56

Remedy following report by Parliamentary Commissioner for Administration

*

*

*

57

Persons placing promotional material in particular publications

*

*

*

58

Acquisition of interest in premises run by management companies

*

*

59

Annual accounts and directors' report (8.21.11G)

*

*

*

60

Participation in employee shares schemes

*

*

*

61

Sale of goods and supply of services

*

*

62

Sale of body corporate (8.14.35G)

*

*

*

64

Takeovers of relevant unlisted companies

*

*

*

65

Takeovers of relevant unlisted companies: warrants etc

*

*

*

66

Takeovers of relevant unlisted companies: application forms

*

*

*

67

Promotions required or permitted by market rules (8.21.13G)

*

*

68

Promotions in connection with admission to certain EEA markets (8.21.16G)

*

*

69

Promotions of securities already admitted to certain markets (8.21.17G)

*

*1

701

Promotions included in listing particulars etc (8.21.20G)1

*1

711

Material relating to prospectus for public offer of unlisted securities

*1

721

Pension products offered by employers (8.14.40AG8)

*

*

*

872A

Pension product offers communicated to employees by third parties (8.14.40AAG)

*

*

*

872B

Insurance product offers communicated to employees by employers (8.14.40ABG)

*

*

*

872C

Insurance products offers communicated to employees by third parties (8.14.40ACG)

*

*

*

872D

Staff mortgage offers communicated to employees by employers (8.14.40ADG)

*

*

*

872E

Staff mortgage offers communicated to employees by third parties (8.14.40AEG)

*

*

*10

1072F

Credit agreements offered to employees by employers

*

*

*

731

Advice centres (8.14.40B)

*

*

*

1 in limited circumstances only – see article 12(2) of the Financial Promotion Order

2 for the purpose of article 16 (2) only

3 for the purpose of article 16 (1) only1
GENPRU 3.2.9RRP
If the Part 4A permission of a firm contains a requirement obliging it to comply with this rule with respect to a third-country banking and investment group of which it is a member, it must comply, with respect to that third-country banking and investment group, with the rules in Part 2 of GENPRU 3 Annex 2, as adjusted by Part 3 of that annex.
SUP 3.8.10GRP
(1) Auditors are subject to regulations made by the Treasury under sections 342(5) and 343(5) of the Act (Information given by auditor or actuary to a regulator). Section 343 and the regulations also apply to an auditor of an authorised person in his capacity as an auditor of a person who has close links with the authorised person.3(2) These regulations oblige auditors to report certain matters to the appropriate regulator. Sections 342(3) and 343(3) of the Act provide that an
SUP 12.5.2GRP
(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
ICOBS 3.2.8RRP
The requirements relating to the placing and receipt of orders do not apply to contracts concluded exclusively by exchange of e-mail or by equivalent individual communications.[Note: article 10(4) and 11(3) of the E-Commerce Directive]
PERG 5.16.2GRP
(1) Text of article 2.1(1) of the Insurance Distribution Directive1 “‘Insurance distribution’ means the activities of advising on, proposing or carrying out other work preparatory to the conclusion of contracts of insurance, of concluding such contracts, or of assisting in the administration and performance of such contracts, in particular in the event of a claim, including the provision of information concerning one or more insurance contracts in accordance with criteria selected
PERG 2.3.2GRP
There is power in the Act for the Treasury to change the meaning of the business element by including or excluding certain things. They have exercised this power (see the Financial Services and Markets Act 2000 (Carrying on Regulated Activities by Way of Business) Order 2001 (SI 2001/1177), as amended from time to time)12. The result is that the business element differs depending on the activity in question. This in part reflects certain differences in the nature of the activities:35553(1)
SUP 10C.5.7GRP
[deleted]65
CASS 1A.2.2RRP
(1) A firm must once every year, and by the time it is required to make a notification in accordance with4CASS 1A.2.9R (4), determine whether it is a CASS large firm, CASS medium firm or a CASS small firm according to the amount of client money or safe custody assets which it holds, using the limits set out in the table in CASS 1A.2.7 R.4(2) For the purpose of determining its ‘CASS firm type’ in accordance with CASS 1A.2.7 R, a firm must:(a) if it currently holds client money
SYSC 1.4.2RRP
A contravention of a rule in SYSC 11 to 2SYSC 14, SYSC 18 to10SYSC 21,7SYSC 22.8.1R, SYSC 22.9.1R or to 9SYSC 288 does not give rise to a right of action by a private person under section 138D of the Act (and each of those rules is specified under section 138D(3) of the Act as a provision giving rise to no such right of action). 34437
CASS 8.1.1RRP
1This chapter (the mandate rules)3 applies to a firm when it has a mandate3 in the course of, or in connection with, the firm's:3(1) designated investment business (including MiFID business); or33(2) insurance distribution activity8, except where it relates to a reinsurance contract;55(3) debt management activity.5
PERG 8.32.12GRP
Where persons are making arrangements concerning contracts of insurance or are carrying on insurance distribution or reinsurance distribution2 certain exclusions to article 25 are not available. This results from the requirements of the IDD2 and is explained in more detail in PERG 5.6 (2The regulated activities: arranging deals in, and making arrangements with a view to transactions in, contracts of insurance).
SUP 12.6.8GRP
SUP 10A applies certain controlled functions to an appointed representative of a firm. In the case of an appointed representative that also has a limited permission, SUP 10C may apply in addition to SUP 10A.19