Related provisions for CASS 5.6.6
41 - 60 of 185 items.
1It also imposes obligations on registered firms to comply with conduct requirements set out in the Schedule to the MCDO, retain relevant information and to deal with the FCA in an open and co-operative manner. The FCA also has the power to give directions to a registered firm to secure compliance with the requirements set out in the Schedule. In addition, the FCA has investigation and sanctioning powers in relation to the framework.
3Behaviour
of the type referred to in APER 4.1.3G includes, but is not limited to, deliberately:(1) falsifying documents;(2) misleading
a client about the risks of
an investment;(3) misleading
a client about the charges or
surrender penalties of investment products;(4) misleading
a client about the likely performance
of investment products by providing
inappropriate projections of
future investment returns;(5) misleading
a client by informing him that
products require only a single
1In general, the FCA considers that publishing relevant information about orders to disapply an exemption in respect of a member of a designated professional body will be in the interests of clients and consumers. The FCA will consider what additional information about the circumstances of the order to include on the record maintained on the Financial Services Register taking into account any prejudice to the person concerned and the interests of consumer protection.
1The FCA's normal approach to maintaining information about a disapplication order on the Financial Services Register is as follows. (1) While a disapplication order is in effect, the FCA will maintain a record of the order on the Financial Services Register. If the FCA grants an application to vary the order, a note of the variation will be made against the relevant entry on the Financial Services Register.
(2) The FCA's
policy in relation
For the purpose of inclusion in the public record maintained by the FCA, a firm must:10(1) provide the FCA, at the time of its authorisation, with details of a single contact point within the firm for complainants; and10(2) notify the
FCA
of any subsequent change in those details when convenient and, at the latest, in the firm's next report under the complaints reporting rules.10
A primary pooling event occurs:(1) on the failure of the firm;(2) on the vesting of assets in a trustee2 in accordance with an 'assets requirement' imposed under section 55P(1)(b) or (c) (as the case may be) of the Act;2(3) on the coming into force of a requirement or requirements which, either separately or in combination:7(a) is or are for all client money held by the firm; and7(b) require the firm to take steps to cease holding all client money7; or(4) when the firm notifies7
Where the authorised fund manager of a feeder UCITS gives notice to the FCA under section 251 or section 261Q1 of the Act or regulation 21 of the OEIC Regulations that it intends to wind up the scheme, it must inform:(1) the unitholders of the feeder UCITS; and(2) where notice is given under COLL 11.6.5R (4) (Application for approval by a feeder UCITS where a master UCITS merges or divides), the authorised fund manager of the master UCITS;of its intention without undue delay.[Note:
The Act does not specify a time limit for processing the application but the FCA intends to deal with an application as quickly as possible. The more complete and relevant the information provided by an applicant, the more quickly a decision can be expected. But on occasion it may be necessary to allow time in which the FCA can monitor the content of the service. This might happen where, for example, a service is in a form that makes record keeping difficult (such as a large website