Related provisions for SUP App 2.7.2
Table: To whom does COCON apply? 9
9Persons to whom COCON applies |
Comments9 |
(1) An SMF manager.9 |
|
(2) An employee (“P”) of an SMCR firm12 who:9 (a) performs the function of an SMF manager;9 (b) is not an approved person to perform the function in question; and9 (c) is required to be an approved person at the time P performs that function.9 |
|
(3) An employee of an SMCR firm12 who would be performing an FCA-designated senior management function12 but for SUP 10C.3.13R (The 12-week rule). 9 |
|
(4) A certification employee of an SMCR firm12.9 |
This applies even if the certification employee has not been notified that COCON applies to them or notified of the rules that apply to them.9 |
(5) An employee of an SMCR firm who would be performing an FCA certification function but for SYSC 27.5.1R (Emergency appointments) or SYSC 27.5.3R (Temporary12 UK role). 9 12 |
|
(6) Any employee of an SMCR firm12 not coming within another row of this table, except one listed in column (2) of this row (6) of this table12. 9 |
(A)12 This row (6)12 does not apply to an employee of an SMCR firm12 who only performs functions falling within the scope of the following roles:9 (a) receptionists; (b) switchboard operators; (c) post room staff; (d) reprographics/print room staff; (e) property/facilities management; (f) events management; (g) security guards; (h) invoice processing; (i) audio visual technicians; (j) vending machine staff; (k) medical staff; (l) archive records management; (m) drivers; (n) corporate social responsibility staff; (o) taking part in following activities of the firm:14 14 (i) the firm’s activities as a data controller; or 14(ii) the firm’s activities of data processing; as defined in the data protection legislation, but subject to Note (1) of this table14;data protection legislation;10 (p) cleaners; (q) catering staff; (r) personal assistant or secretary; (s) information technology support (ie, helpdesk); and (t) human resources administrators /processors. 121417 |
(7) [deleted]12 9 |
9 |
(8) A board director of: a UK SMCR firm.12 9999 |
9 |
9 | |
14Note (1): A function is only within paragraph (o) of column (2) (Comments) of row (6) of this table if the function does not require the employee concerned to exercise a significant amount of discretion or judgment. |
Multiple principal agreement
Matter |
Explanation |
|
1. |
Scope of appointment |
The scope of appointment given by each principal to the appointed representative. |
2. |
Complaints handling |
The identity of the principal which will be the point of contact for a complaint from a client (referred to as the "lead-principal" in SUP 12.4.5D G to SUP 12.4.5E G). |
An agreement that each principal will co-operate with each other principal in resolving a complaint from a client in relation to the appointed representative's conduct. |
||
The arrangements for complaints handling, including arrangements for resolving disputes between the principals in relation to their liability to a client in respect of a complaint and arrangements for dealing with referrals to the Financial Ombudsman Service. |
||
3. |
The arrangements for approving financial promotion. |
|
4. |
Control and monitoring |
The arrangements for the control and monitoring of the activities of the appointed representative (see in particular SUP 12.6.6 R (Regulated activities and investment services outside the scope of appointment) and SUP 12.6.7 G (Senior management responsibility for appointed representatives)). |
5. |
Approved person status |
The arrangements for making applications for approved person status (see SUP 10A and SUP 10C12 (Approved persons) and the corresponding PRA requirements).12 2323 |
6. |
Training and competence |
The arrangements for training and competence (see TC). |
7. |
Co-operation |
The arrangements for co-operation over any other issues which may arise from the multiple appointments, including issues which may damage the interests of clients dealing with the appointed representative and administrative issues. |
An agreement by each principal to take reasonable steps to ensure that it does not cause the appointed representative or any of its other principals to be in breach of their obligations to each other or under the regulatory system. |
||
8. |
Sharing information |
The arrangements for sharing information on matters relevant to the matters covered under the multiple principal agreement and each principal's obligations under SUP 12.6 (Continuing obligations of firms with appointed representatives) and SUP 12.6A (Assessment of compliance)21. |
An agreement that each principal will notify each other principal of any information which is materially relevant to the multiple principal agreement. |
Table of applicable rules containing data items4, frequency and submission periods
(1) |
(2) |
(3) |
(4) |
|
RAGnumber |
Provisions containing: |
|||
applicabledata items |
reporting frequency/ period |
due date32 32 |
||
271212 | 37 | |||
RAG 1 |
• accepting deposits • meeting of repayment claims76 • managing dormant asset funds (including the investment of such funds)93 76 |
RAG 1 firms should complete their prudential reporting requirements as set out in the PRA Rulebook.76 |
||
RAG 2.1 |
• effecting contracts of insurance • carrying out contracts of insurance • entering as provider into a funeral plan contract 88• carrying out a funeral plan contract as provider |
RAG 2.1 firms should complete their prudential reporting requirements as set out in the PRA Rulebook except firms carrying out funeral plan provision activities in relation to which SUP 16.12.8AR applies.88 2 |
2 | 2 |
RAG 2.2 |
• managing the underwriting capacity of a Lloyds syndicate as a managing agent at Lloyds • advising on syndicate participation at Lloyds • arranging deals in contracts of insurance written at Lloyds |
|||
RAG 3 |
• dealing in investment as principal • dealing in investments as agent • advising on investments (except P2P agreements) 67 (excluding retail investment activities) • arranging (bringing about) deals in investments (excluding retail investment activities) • advising on P2P agreements (when carried on exclusively with or for professional clients)67 |
3737 | SUP 16.12.10 R2SUP 16.12.12 R78 37 |
|
RAG 4 |
• managing investments • establishing, operating or winding up a collective investment scheme • establishing, operating or winding up a stakeholder pension scheme • establishing, operating or winding up a personal pension scheme2 • operating an electronic system in relation to lending (FCA-authorised persons only)48 3838385 |
3737 | SUP 16.12.14 R2SUP 16.12.16 R78 37 |
|
RAG 5 |
• home finance administration or home finance providing activity11 • the activity of a P2P platform operator facilitating a home finance transaction, where the lender or provider does not require permission to enter into the transaction83 11 |
76SUP 16.12.18BR 37 and SUP 16.12.18C R58 258 |
76SUP 16.12.18BR 37 and SUP 16.12.18C R58 258 |
76SUP 16.12.18BR 37 and SUP 16.12.18C R58 258 |
RAG 6 |
• safeguarding and administration of assets (without arranging) • arranging safeguarding and administration of assets • acting as trustee or depositary of an AIF38 • acting as trustee or depositary of a UK UCITS82 38403838 |
|||
RAG 7 |
• retail investment activities • advising on P2P agreements (except when carried on exclusively with or for professional clients)67 • advising on pensions transfers & opt-outs • arranging (bringing about deals) in retail investments |
377837 | 3737 | |
RAG 8 |
• making arrangements with a view to transactions in investments • operating a multilateral trading facility4 • operating an organised trading facility35 |
80377837 | ||
RAG 9 |
• home finance mediation activity14 • insurance distribution activity84 (non-investment insurance contracts)88• funeral plan distribution 14 |
|||
RAG 10 |
96 | |||
81 | ||||
Table:
This table belongs to BIPRU 9.12.10 R
44Credit Quality Step |
Securitisation positions |
Resecuritisation positions |
||||
Credit assessments other than short term |
Short-term credit assessments |
A |
B |
C |
D |
E |
1 |
1 |
7% |
12% |
20% |
20% |
30% |
2 |
8% |
15% |
25% |
25% |
40% |
|
3 |
10% |
18% |
35% |
35% |
50% |
|
4 |
2 |
12% |
20% |
40% |
65% |
|
5 |
20% |
35% |
60% |
100% |
||
6 |
35% |
50% |
100% |
150% |
||
7 |
3 |
60% |
75% |
150% |
225% |
|
8 |
100% |
200% |
350% |
|||
9 |
250% |
300% |
500% |
|||
10 |
425% |
500% |
650% |
|||
11 |
650% |
750% |
850% |
|||
all other, unrated |
1250% |
[Note: For mapping of the credit quality step to the credit assessments of eligible ECAIs, refer to: http://www.fca.org.uk/your-fca/documents/fsa-ecais-securitisation for the FCA and http://www.bankofengland.co.uk/publications/Documents/other/pra/policy/2013/ecaissecuritisation.pdf for the PRA.]
Table: FCA-approved persons forms
Form |
Purpose |
Handbook requirement |
|
the relevant Form A |
311 | Application to perform controlled functions under the approved persons regime |
|
Form B |
Notice to withdraw an application to perform controlled functions under the approved persons regime |
||
Form C |
Notice of ceasing to perform controlled functions |
||
Form D |
Notification of changes in personal information or application details |
||
Form E |
113 | Internal transfer of an approved person |
|
5556 | |||
5 |
- (1)
Before a pure protection contract is concluded, a firm must communicate, at least,1 the information in the table below to the customer.1
1 - (2)
The information must be provided in a clear and accurate manner, in writing, and in an official language of the State of the commitment or in another language if the policyholder so requests and the law of the State of the commitment so permits or the policyholder is free to choose the applicable law.1
1
Information to be communicated before conclusion |
|
(1) |
The name of the insurance undertaking and its legal form. |
(2) |
The name of the state2 in which the head office and, where appropriate, the agency or branch1 concluding the contract is situated. 1 |
(3) |
The address of the head office and, where appropriate, of the agency or branch concluding the contract. |
1(3a) |
A concrete reference to the firm'sSFCR allowing the policyholder easy access to this information. |
(4)* |
Definition of each benefit and each option. |
(5)* |
Term of the contract. |
(6)* |
Means of terminating the contract. |
(7)* |
Means of payment of premiums and duration of payments. |
(8)* |
Information on the premiums for each benefit, both main benefits and supplementary benefits, where appropriate. |
(9)*1 |
Arrangements for application of the cancellation period. |
(10) |
General information on the tax arrangements applicable to the type of policy. |
(11) |
The arrangements for handling complaints concerning contracts by policyholders, lives assured or beneficiaries1 under contracts including, where appropriate, the existence of a complaints body (usually the Financial Ombudsman Service), without prejudice to the right to take legal proceedings. 1 |
(12) |
The law applicable to the contract where the parties do not have a free choice or, where the parties are free to choose the law applicable, the law the firm1 proposes to choose. 1 |
Note: The rule on mid-term changes applies to items marked with an asterisk (see ICOBS 6.3.3 R). |
[Note: article 185 of the Solvency II Directive1]
1