Related provisions for FEES 13.2.10
561 - 580 of 594 items.
Where an authorised fund manager of a feeder UCITS enters into a master-feeder agreement or, if applicable, internal conduct of business rules, with the management company of an EEA UCITS scheme, references in COLL 11 Annex 1 R and COLL 11 Annex 2 R to COLLrules that implemented4 provisions in the UCITS Directive which are the responsibility of the EEA UCITS scheme'sHome State regulator should be read as referring to the corresponding provisions in the laws and regulations of
Where a firm applies BIPRU 9.10.2 R, 12.5 times the amount deducted in accordance with that paragraph must, for the purposes of BIPRU 9.11.5 R and BIPRU 9.12.8 R, be subtracted from the amount specified in whichever of those rules applies as the maximum risk weighted exposure amount to be calculated by a firm to which one of those rules applies.[Note:BCD Annex IX Part 4 point 36 and point 76]
1The grounds on which the FCA may exercise its power to cancel an authorised person's
permission under section 55J of the Act are the same as the grounds for variation and for imposition of requirements. They are set out in section 55J(1) and section 55L(2) and described in EG 8.1.1. Examples of the types of circumstances in which the FCA may cancel a firm'sPart 4A permission include: (1) non-compliance with a Financial Ombudsman Service award against the
MCOB 2.3.2 R does not prevent a firm: (1) assisting a home finance intermediary2 so that the quality of the home finance intermediary's2 service to customers is enhanced; or 22(2) giving or receiving indirect benefits (such as gifts, hospitality and promotional competition prizes); providing in either case this is not likely to give rise to a conflict with the duties that the recipient owes to the customer. In particular, such benefits should not be of a kind or value that is
For the purpose of SUP 15.12.1R:(1) when calculating the number of complaints in SUP 15.12.1R(1)(a),
the firm should exclude complaints previously notified to the FCA
under this rule;(2) redress, under SUP 15.12.1R(1)(b), should be interpreted to include
an amount paid, or cost borne, by the firm, where a cash value can be
readily identified, and should include:(a) amounts paid for distress and inconvenience;(b) a free transfer out to another provider for which a transfer
would
An insurance undertaking that effects contracts of insurance covering risks or commitments situated in another EEA State should comply with the notification procedures for the provision of services within that EEA State. The location of risks and commitments is found by reference to the rules set out in paragraph 6 of schedule 12 to the Act, which derive from article 13(13) and (14) of the Solvency II Directive.4 It may be appropriate for insurers to take legal advice as to how
(1) Where, in relation to a regulated mortgage contract for a business purpose or a high net worth mortgage customer3 who is not a consumer under an MCD regulated mortgage contract4, a customer either:(a) seeks an immediate increase in the borrowing provided under the regulated mortgage contract; or(b) overdraws on the borrowing under the regulated mortgage contract;the further advance rules in MCOB 7.6.7 R to MCOB 7.6.17 R do not apply.(2) Where (1) applies, the firm must within
(1) 1MCOB 8.5A sets out standards to be observed by firms when advising a particular customer on equity release transactions.(2) The rules at MCOB 8.6A require firms selling equity release transactions to provide advice to the customer, subject to the customer's right to reject advice which has been given and to proceed on an execution-only basis.
When a firm appoints or renews the appointment of a supplier under a material outsourcing arrangement, it should satisfy itself that the terms of its contract with the supplier require the supplier to give the FCA4 access to its premises as described in SUP 2.3.5 R (2), and to cooperate with the FCA4 as described in SUP 2.3.7 R. The FCA4 does not consider that the 'reasonable steps' in SUP 2.3.7 R would require a firm to seek to change a contract, already in place either7 when
(1) 1A MiFID investment firm2 (except a collective portfolio management investment firm) must have appropriate procedures in place for its employees to report a potential or actual breach of:(a) any rule which implemented2MiFID; or(b) a requirement imposed by MiFIR or any onshored regulation which was previously an2EU regulation adopted under MiFID or MiFIR.(2) The procedures in (1) must enable employees to report internally through a specific, independent and autonomous channel.(3)
1The FCA's enforcement activities in respect of registrant-only societies focus on prosecuting societies that fail to submit annual returns. As registrant-only societies are not subject to the rules imposed by the Act and by the FCA
Handbook, the requirement that they submit annual returns provides an important check that the interests and investments of members, potential members, creditors and other interested parties are being safeguarded. The power to prosecute
4CONC 3 contains rules about financial promotions relating to credit-related regulated activity. CONC 3 does not apply, however, to the communication, or approval for communication, of a financial promotion to the extent it concerns qualifying credit. MCOB 3A5 applies to the communication or approval of a financial promotion of qualifying credit. This means that a financial promotion about credit will not usually be subject to both MCOB 3A5 and CONC 3 unless it is about secured
(1) Where it is compatible with the nature of the obligation imposed by a particular rule, including the customer’s best interests rule,4 and with the Principles, in particular Principles 1 (Integrity), 2 (Skill, care and diligence) and 3 (Management and control), firms may rely on third parties in order to comply with the rules in this sourcebook.(2) For example, where a rule requires a firm to take reasonable steps to achieve an outcome, it will generally be reasonable for a
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
A listed company must notify a RIS as soon as possible (unless otherwise indicated in this rule) of the following information relating to its capital:(1) any proposed change in its capital structure including the structure of its listeddebt securities, save that an announcement of a new issue may be delayed while marketing or underwriting is in progress;(2) [deleted]11(3) any redemption of listedshares including details of the number of shares redeemed and the number of shares
For contracts entered into or variations agreed before 1 August 2017, a3 rejection of a consumerpolicyholder's claim is unreasonable, except where there is evidence of fraud, if it is :22(1) in relation to contracts entered into or variations agreed on or before 5 April 2013, for:2(a) non-disclosure of a fact material to the risk which the policyholder could not reasonably be expected to have disclosed; or2(b) non-negligent misrepresentation of a fact material to the risk; or2(2)