Related provisions for MCOB 4.1.1

mortgage lender

mortgage adviser

mortgage arranger

whole chapter except MCOB 5.82

2home purchase provider

home purchase adviser

home purchase arranger

MCOB 5.1.1 R to MCOB 5.1.3 R, MCOB 5.1.6 R to MCOB 5.1.8 G, MCOB 5.2, MCOB 5.3 and MCOB 5.8.

MCOB 5.5 and MCOB 5.6 in accordance with MCOB 5.8

2reversion provider

reversion adviser

reversion arranger

see MCOB 9.3 for the application of this chapter

3SRB adviser

MCOB 5.1.1 R to MCOB 5.1.3 R, MCOB 5.2 and MCOB 5.9 4

3SRB agreement provider

MCOB 5.1.1 R to MCOB 5.1.3 R, 4MCOB 5.2,MCOB 5.9.1 R to MCOB 5.9.2 R (including MCOB 5.9.1A G to MCOB 5.9.1F R), MCOB 5.9.6 R and MCOB 5.9.7G4

3SRB arranger

MCOB 5.1.1 R to MCOB 5.1.3R, MCOB 5.2 and MCOB 5.94

mortgage lender

whole chapter except 5MCOB 2.6A.1 R to MCOB 2.6A.18 G5 and MCOB 2.8.6 G1

5mortgage administrator

mortgage adviser

mortgage arranger

As for a mortgage lender, except that MCOB 2.6A.-1 R does not apply.

1home purchase provider

MCOB 2.1,, MCOB 2.5 to5MCOB 2.6, MCOB 2.6A.1 R to MCOB 2.6A.4 G, MCOB 2.6A.7 G to MCOB 2.6A.10 G, MCOB 2.7.4 R to MCOB 2.7.6 R, MCOB 2.7A2, 7MCOB 2.8.6 G and MCOB 2.97

1home purchase administrator

As for a home purchase provider but MCOB 2.6A.1 R to MCOB 2.6A.4 G and MCOB 2.6A.7 G do not apply

1home purchase adviser

home purchase arranger

As for a home purchase provider but MCOB 2.6A does not apply

1reversion provider

whole chapter except MCOB 2.6A.7 G, MCOB 2.7.4 R to MCOB 2.7.6 R and MCOB 2.8.6 G

1reversion administrator

reversion arranger

As for a reversion provider but the relevant provisions of MCOB 2.6A apply only when arranging for a home reversion plan to be entered into by a reversion occupier with, or administering a home reversion plan provided by, an unauthorised reversion provider.

1reversion adviser

As for a reversion provider but MCOB 2.6A does not apply

4SRB administrator

MCOB 2.1, MCOB 2.5 to5MCOB 2.6, MCOB 2.6A.5BR (5), MCOB 2.6A.8 R to MCOB 2.6A.11 G, MCOB 2.6A.17A R, MCOB 2.6A.18 G, MCOB 2.7.1 G to MCOB 2.7.5 R, MCOB 2.7A, MCOB 2.8.1 G to MCOB 2.8.5 G and MCOB 2.97.

3SRB adviser

Whole chapter except MCOB 2.6A.5 R, MCOB 2.6A.7 G, MCOB 2.6A.17 R and MCOB 2.8.6 G.4

3SRB agreement provider

Whole chapter except MCOB 2.6A.5 R, MCOB 2.6A.7 G, MCOB 2.6A.17 R, MCOB 2.6A.17A R, MCOB 2.6A.18 G and MCOB 2.8.6 G.4

4SRB arranger

Whole chapter except MCOB 2.6A.5 R, MCOB 2.6A.7 G, MCOB 2.6A.17 R and MCOB 2.8.6 G.4

a firm that communicates or approves a financial promotion of qualifying credit or of a home reversion plan1

MCOB 2.5, MCOB 2.6, MCOB 2.7 (except, when the financial promotion relates to a home reversion plan, MCOB 2.7.4 R to MCOB 2.7.6 R), MCOB 2.7A2,7MCOB 2.8 (except MCOB 2.8.6 G)1 and MCOB 2.97

1a firm that communicates or approves a financial promotion of a home purchase plan

MCOB 2.5, MCOB 2.6, MCOB 2.7, MCOB 2.7A2,7MCOB 2.8.6 G and MCOB 2.97

mortgage lender

whole chapter except MCOB 7.82

mortgage administrator

MCOB 7.1 - MCOB 7.32and MCOB 7.5 - MCOB 7.7.

mortgage adviser and mortgage arranger

MCOB 7.1 - MCOB 7.32and MCOB 7.6.7 R - MCOB 7.7.4 R

2home purchase provider

MCOB 7.1.1 R to MCOB 7.1.4 R, MCOB 7.2, MCOB 7.3 and MCOB 7.8

2home purchase administrator

As for a home purchase provider except MCOB 7.8.1 R and MCOB 7.8.2 G do not apply

2home purchase adviser and home purchase arranger

MCOB 7.1.1 R to MCOB 7.1.4 R, MCOB 7.2 and MCOB 7.8.7 G

2reversion provider

reversion administrator

reversion adviser

reversion arranger

see MCOB 9.6 for the application of this chapter

3SRB administrator

MCOB 7.9

3SRB agreement provider

MCOB 7.1 to MCOB 7.3 and MCOB 7.9

mortgage lender

except in relation to lifetime mortgages:6MCOB 4.1 to MCOB 4.4A, 4.6A, MCOB 4.8A in accordance with MCOB 4.1.2A R and 6MCOB 4.94

mortgage adviser

except in relation to lifetime mortgages:6whole chapter exceptMCOB 4.104

mortgage arranger

except in relation to lifetime mortgages:6whole chapter except 6MCOB 4.7A6 and MCOB 4.104

4home purchase provider

MCOB 4.1, MCOB 4.2 and MCOB 4.10 (except MCOB 4.10.5 G to MCOB 4.10.7 G). MCOB 4.4A and MCOB 4.8A in accordance with MCOB 4.1.2B R and MCOB 4.10.6

4home purchase adviser

MCOB 4.1, MCOB 4.2, MCOB 4.5, MCOB 4.6 and MCOB 4.10.

MCOB 4.4A, MCOB 4.7A and MCOB 4.8A6 in accordance with MCOB 4.10

4home purchase arranger

As for a home purchase adviser except MCOB 4.10.5A R to MCOB 4.10.9A R, MCOB 4.10.13 R and MCOB 4.7A do not apply

equity release provider

equity release adviser

equity release arranger6

see 6MCOB 8.36for the application of this chapter5

5SRB adviser

MCOB 4.1, MCOB 4.2, MCOB 4.5, MCOB 4.6 and MCOB 4.11

5SRB arranger

MCOB 4.1, MCOB 4.2, MCOB 4.5, MCOB 4.6 and MCOB 4.11

5SRB agreement provider

MCOB 4.1, MCOB 4.2 and MCOB 4.11

equity release provider4

whole chapter except MCOB 8.5A5 and MCOB 8.74, MCOB 8.6A in accordance with MCOB 8.1.2A R5

equity release adviser4

whole chapter MCOB 8.7 does not apply in relation to a lifetime mortgage4

equity release arranger4

whole chapter except MCOB 8.5A.5MCOB 8.7 does not apply in relation to a lifetime mortgage4

mortgage lender

1MCOB 9.1 - MCOB 9.4.132 R, MCOB 9.5 - MCOB 9.82

mortgage administrator

MCOB 9.1, MCOB 9.2, MCOB 9.6 and

MCOB 9.8

mortgage adviser; mortgage arranger2

MCOB 9.1 - MCOB 9.4.132 R2and MCOB 9.8.5 R - MCOB 9.8.10 R

2reversion provider

MCOB 9.1 - MCOB 9.4.17A R, MCOB 9.4.133 R -MCOB 9.6; MCOB 9.9

2reversion administrator

MCOB 9.1, MCOB 9.6 and MCOB 9.9

2reversion adviser; reversion arranger

MCOB 9.1 - MCOB 9.4.17A R, MCOB 9.4.133 R - MCOB 9.4.176 G; MCOB 9.9.8 R

mortgage lender

whole chapter except MCOB 6.83

3home purchase provider

MCOB 6.1 (except MCOB 6.1.6 G), MCOB 6.2 and MCOB 6.8

reversion provider

see MCOB 9.5 for the application of this chapter

4SRB agreement provider

MCOB 6.1.1 R to MCOB 6.1.3 R, MCOB 6.1.5 R, MCOB 6.2, MCOB 6.3 and MCOB 6.9

This table and the provisions in SUP 3 should be read in conjunction with GEN 2.2.23 R to GEN 2.2.25 G. In particular, the PRA does not apply any of the provisions in SUP 3 in respect of FCA-authorised persons. SUP 3.10 and SUP 3.11 are applied by the FCA only.41

(1)

Authorised professional firm which is required by IPRU(INV) 2.1.2R to comply with chapters 3, 519 or 13 of IPRU(INV) and which has an auditor appointed under or as a result of a statutory provision other than in the Act9 (Notes 1 and 6)23

SUP 3.1 - SUP 3.7, SUP 3.1123

SUP 3.1, SUP 3.2, SUP 3.8,19SUP 3.10

(2)

Authorised professional firm not within (1) to which the custody chapter or client money chapter applies22

SUP 3.1 - SUP 3.7, SUP 3.11

SUP 3.1, SUP 3.2, SUP 3.8, SUP 3.10

(3)

Authorised professional firm not within (1) or (2) which has an auditor appointed under or as a result of a statutory provision other than in the Act

SUP 3.1, SUP 3.2, SUP 3.7

SUP 3.1, SUP 3.2, SUP 3.8

(4)

Bank, building society or dormant asset fund operator40 which in each case carries on designated investment business21(Notes 2A and 6)23

SUP 3.1-SUP 3.7, SUP 3.1123

SUP 3.1, SUP 3.2, SUP 3.8, SUP 3.10

(5)

Bank, building society or a dormant asset fund operator40 which in each case does not carry on designated investment business21 (Note 2A)

SUP 3.1 - SUP 3.7

SUP 3.1, SUP 3.2, SUP 3.8

(5A)

Credit union

SUP 3.1 - SUP 3.7

SUP 3.1, SUP 3.2, SUP 3.824

27(5B)30

CASS debt management firm unless subject to a requirement imposed under section 55L of the Act stating that it must not hold client money or such a requirement to the same effect30

SUP 3.1

SUP 3.10

SUP 3.11

SUP 3.1

SUP 3.10

33(5C)

CASS 7 loan-based crowdfunding firm

SUP 3.1-3.7, SUP 3.11

SUP 3.1, SUP 3.2, SUP 3.8, SUP 3.10

36(5D)

A CASS 13 claims management firm

SUP 3.1- 3.7, 3.11

SUP 3.1, SUP 3.2, SUP 3.8, SUP 3.10

(6)

Insurer, the Society of Lloyd's, underwriting agent or members' adviser, UK ISPV11 (Note 5)7

SUP 3.1 - SUP 3.7

SUP 3.1, SUP 3.2, SUP 3.8

(7)

Investment management firm,39personal investment firm (other than a small personal investment firm)39, 15securities and futures firm or collective portfolio management firm that is an external AIFM28 which, in each case, has an auditor appointed under or as a result of a statutory provision other than in the Act9(Notes 3 and 623)17

SUP 3.1 - SUP 3.7, SUP 3.1123

SUP 3.1, SUP 3.2, SUP 3.8,19SUP 3.10

9(7A)

Investment management firm39, personal investment firm (other than a small personal investment firm39),28securities and futures firm39 or collective portfolio management firm that is an external AIFM28 not within (7) to which the custody chapter or client money chapter applies22

SUP 3.1 - SUP 3.7, SUP 3.1123

SUP 3.1, SUP 3.2, SUP 3.8, SUP 3.1025

32

9(7B)

Collective portfolio management firm that is a 28UCITS firm13or an internally managed AIF28 (Note 6)23

SUP 3.1 - SUP 3.7, SUP 3.1123

SUP 3.1, SUP 3.2, SUP 3.8,19SUP 3.10

13(7C)

MiFID investment firm38, which has an auditor appointed under or as a result of a statutory provision other than in the Act (Notes 3B and 6)2320

SUP 3.1 - 3.7, SUP 3.1123

SUP 3.1, SUP 3.2, SUP 3.8, SUP 3.1014

17(7D)

Sole trader or partnership that is a MiFID investment firm3839(Notes 3C and 6)2320

SUP 3.1 - SUP 3.7, SUP 3.1123

SUP 3.1, SUP 3.2, SUP 3.8, SUP 3.10

(8)

Small personal investment firm or service company which, in either case, has an auditor appointed under or as a result of a statutory provision other than in the Act

SUP 3.1, SUP 3.2, SUP 3.7

SUP 3.1, SUP 3.2, SUP 3.8

(9)8

Home finance provider10 which has an auditor appointed under or as a result of a statutory provision other than in the Act9

SUP 3.1 - SUP 3.78

SUP 3.1, SUP 3.2, SUP 3.88

(10)8

Insurance intermediary (other than an exempt insurance intermediary) to which the insurance client money chapter17 (except for CASS 5.2 (Holding money as agent)) applies (see Note 4)8

SUP 3.1 - SUP 3.78, SUP 3.1123

SUP 3.1, SUP 3.2, SUP 3.8, SUP 3.108

(11)8

Exempt insurance intermediary and insurance intermediary not subject to SUP 3.1.2 R(10) which has an auditor appointed under or as a result of a statutory provision other than in the Act

SUP 3.1, SUP 3.2, SUP 3.78

SUP 3.1, SUP 3.2, SUP 3.88

(12)8

Home finance intermediary10 or home finance administrator10 which has an auditor appointed under or as a result of a statutory provision other than in the Act.

SUP 3.1, SUP 3.2, SUP 3.78

SUP 3.1, SUP 3.2, SUP 3.88

Note 1 = This chapter applies to an authorised professional firm in row (1) (and its auditor) as if the firm were of the relevant type in the right-hand column of IPRU(INV) 2.1.4R.

Note 2 [deleted]23

Note 2A = For this purpose, designated investment business does not include either or both:

(a) dealing which falls within the exclusion in article 15 of the Regulated Activities Order (Absence of holding out etc) (or agreeing to do so); and

(b) dealing in investments as principal (or agreeing to do so):

(i) by a firm whose permission to deal in investments as principal is subject to a limitation to the effect that the firm, in carrying on this regulated activity, is limited to entering into transactions in a manner which, if the firm was an unauthorised person, would come within article 16 of the Regulated Activities Order (Dealing in contractually based investments); and

(ii) in a manner which comes within that limitation;

having regard to article 4(4) of the Regulated Activities Order (Specified activities: general23).

Note 3 = This note applies in relation to an oil market participant to which IPRU(INV) 3 does not apply and in relation to an energy market participant to which IPRU(INV) 3 does not apply. In SUP 3:

(a) only SUP 3.1, SUP 3.2 and SUP 3.7 are applicable to such a firm; and

(b) only SUP 3.1, SUP 3.2 and SUP 3.8 are applicable to its auditor;

and, in each case, only if it has an auditor appointed under or as a result of a statutory provision other than in the Act.

17Note 3A [deleted]23

20Note 3B = MiFID investment firms38 include firms that are eligible to be MiFID optional exemption firms but have chosen not to exercise the article 3 exemption. However, such firms may still benefit from the audit exemption for small companies in the Companies Act legislation39.

17Note 3C20 = A sole trader or a partnership that is a MiFID investment firm38 to which the custody chapter22 or client money chapter applies2220 must have its annual accounts audited.

Note 4 = The client money audit requirement in SUP 3.1.2 R(10) therefore applies to all insurance intermediaries except:8

• those which do not hold client money or other client assets in relation to insurance distribution activities34; or 8

• those which only hold up to, but not exceeding, £30,000 of client money under a statutory trust arising under CASS 5.3.8

Insurance intermediaries which, in relation to insurance distribution activities34, hold no more than that amount of client money only on a statutory trust are exempt insurance intermediaries.8

Note (5) = In row (6):7

(a)7

SUP 3.1 - SUP 3.7 applies to a managing agent in respect of its own business and in respect of the insurance business of each syndicate which it manages; and7

(b)7

SUP 3.1, SUP 3.2 and SUP 3.8 apply to the auditors of a managing agent and the auditors of the insurance business of each syndicate which the managing agent manages.1234567

23Note 6 = Where SUP 3.11 applies to a firm, and SUP 3.10 applies to the auditor of that firm, those sections apply whether or not that firm'spermission prevents it from holding client money or custody assets and whether or not it holds client money or custody assets.A collective portfolio management firm that is an internally managed AIF is required to appoint an auditor under FUND 3.3.6R (2) (Annual report of an AIF) because the AIFM is also an AIF.28