Related provisions for EG 12.3.3

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SYSC 6.2.1BGRP
(1) 6This guidance is relevant to an SMCR firm8 required to establish and maintain an internal audit function under article 24 of the MiFID Org Regulation7.(2) Taking account of the nature, scale and complexity of its activities, the firm should have appropriate procedures to ensure that the removal or any other disciplinary sanctioning of the head of the internal audit function does not undermine the independence of the internal audit function.(3) In the FCA's view, it will be
CONC 7.6.9GRP
In the FCA's view, a firm's inability to recover the whole of the amount due by the end of the next working day after the date on which it was due would indicate that the customer may be experiencing financial difficulties. In such a case, a firm should suspend exercising its rights under the continuous payment authority until it has made reasonable efforts to contact the customer to establish the reason why payment was unsuccessful and whether the customer is in financial difficulties.[Note:
MCOB 6.5.6RRP
If a firm makes an offer to a consumer2 with a view to entering into a regulated mortgage contract which is a distance contract, it must provide the consumer2 with the following information with the offer document:232(1) [deleted]5(2) any contractual clause on law applicable to the regulated mortgage contract or on competent court, or both;(3) the language in which the contract is supplied and in which the firm will communicate during the course of the regulated mortgage contract;
TC App 5.1.1GRP

1Introduction

1.

TC Appendix 4E contains a list of appropriate qualifications for the purposes of TC 2.1.10 E.

2.

This Appendix sets out:

(1)

the criteria which the FCA may take into account when assessing a qualification provider; and

(2)

the information the FCA will expect the qualification provider to provide if it asks the FCA to add a qualification to the list of appropriate qualifications in TC Appendix 4 E.

Criteria for assessing a qualification provider

3.

The FCA will expect the qualification provider of an appropriate qualification to have, in the FCA's opinion:

(1)

assessors and qualification developers who are trained and qualified;

(2)

valid, reliable and robust assessment methods;

(3)

robust governance and a clear separation of function between its qualification services and any other services it performs, including effective procedures for managing any conflicts of interest;

(4)

procedures for reviewing and refreshing its syllabus and question banks to ensure that they are relevant and up to date;

(5)

robust and credible procedures for assessing a candidate's demonstration of the learning outcomes specified in the relevant examination standards;

(6)

robust arrangements for contingency and business continuity planning in relation to its qualification services;

(7)

appropriate records management procedures in relation to its qualification services;

(8)

procedures for dealing with inappropriate conduct by candidates, for example, attempting to obtain or obtaining qualifications dishonestly;

(9)

robust procedures for the setting of assessments and marking of results; and

(10)

adequate resources in order to be financially viable.

Information about the qualification to be provided to the FCA

4.

If a qualification provider asks the FCA to add a qualification to the list of appropriate qualifications in TC Appendix 4 E, the FCA will expect the qualification provider to:

(1)

where relevant, specify the qualifications framework within which the qualification is placed;

(2)

specify the activity in TC Appendix 1 to which the qualification relates;

(3)

set out the recommended prior knowledge, attainment or experience for candidates;

(4)

where relevant, set out the exemption policy for a candidate's prior learning or achievement;

(5)

provide the relevant learning materials to the FCA together with an explanation of how those learning materials correspond to the content of the most recent examination standards. Any content of the examination standards which has been excluded from the learning materials must be justified;

(6)

where applicable, explain how grading is applied;

(7)

where applicable, explain the provider's rules of combination;

(8)

provide details of expected learning hours or any other similar arrangements;

(9)

where applicable, specify the level of the overall qualification with reference to the relevant qualification framework or, if there is no relevant qualification framework, the European Qualifications Framework and the percentage of the qualification at that level, as well as the percentages and the levels for the remainder of the qualification;

(10)

provide details of any credit for prior learning included in the qualification together with an explanation of how it meets the most recent examination standards; and

(11)

provide an explanation of how the qualification compares in quality and standard to other similar qualifications.

Information about the qualification provider to be provided to the FCA

5.

When considering whether to include or retain a qualification in the list of appropriate qualifications, the FCA may consider, where relevant:

(1)

whether the qualification provider has in place suitable arrangements for:

(a)

meeting its statutory duties in relation to equality and diversity; and

(b)

reducing barriers to learning, for example, for candidates with learning difficulties;

(2)

any concerns, issues or investigations which have been raised by the qualification provider's qualifications regulator;

(3)

the annual pass rates of each of the relevant qualifications;

(4)

the quality of the service the qualification provider provides to candidates in relation to qualifications and its complaints procedures;

(5)

how the qualification provider maintains its qualifications to ensure they remain comparable to other qualifications in the same sector; and

(6)

whether the qualification provider gives candidates reasonable notice of any syllabus change, change in method of assessment or pass standards;

(7)

information supporting the criteria in TC Appendix 5G paragraph 3.
COLL 6.13.4RRP
(1) An authorised fund manager of a UCITS scheme2must ensure the retention of the records referred to in COLL 6.13.2 R and COLL 6.13.3 R for a period of at least five years or, in exceptional circumstances and where directed by the FCA, for a longer period, determined by the nature of the instrument or portfolio transaction, where it is necessary to enable the FCA to exercise its supervisory functions in respect of UCITS schemes2.(2) Following the termination of its authorisation,
DISP 3.5.12GRP
15The Ombudsman may take into account evidence from third parties, including (but not limited to) the FCA6 , other regulators, experts in industry matters and experts in consumer matters.6
DTR 2.5.4GRP
(1) In the FCA’s opinion, paragraph 5(1)(8)(a) of the ESMA MAR delayed disclosure guidelines does3 not envisage that an issuer will: 2(a) delay public disclosure of the fact that it is in financial difficulty or of its worsening financial condition and is limited to the fact or substance of the negotiations to deal with such a situation; or2(b) delay disclosure of inside information on the basis that its position in subsequent negotiations to deal with the situation will be jeopardised
PRIN 3.2.3RRP
Subject to PRIN 3.2.4R,8Principles 3, 4 and (in so far as it relates to disclosing to the FCA5) 11 (and this chapter) also:(1) apply to firms10 with respect to the carrying on of unregulated activities (for Principle 3 this is only in a prudential context); and(2) for firms and other persons that are subject to the Principles,10 take into account any activity of other members of a group of which the firm is a member.
SYSC 18.6.4GRP
In addition to obligations under the MiFID regime2, similar whistleblowing obligations apply to miscellaneous persons subject to regulation by the FCA under the following non-exhaustive list of 2legislation:4(1) article 32(3) of the Market Abuse Regulation, as implemented in section 131AA of the Act;(2) [deleted]52(3) the UK provisions which implemented2 article 99d(5) of the UCITS Directive (see SYSC 4.1.1ER in respect of UKUCITS management companies, and COLL 6.6B.30R in respect
SYSC 10.2.3GRP
SYSC 10.2.2 R is made under section 137P6 of the Act (Control of information rules). It has the following effect:6(1) acting in conformity with SYSC 10.2.2 R (1) provides a defence against proceedings brought under sections89(2), 90(1) and 91(1) 4of the Financial Services Act 2012 (Misleading statements, Misleading impressions and Misleading statements etc. in relation to benchmarks) - see sections 89(3)(b), 90(9)(c) and 91(3)(b); and5444(2) [deleted]5(3) acting in conformity
REC 4.6A.1GRP
(1) 1Under section 192C of the Act (Power to direct qualifying parent undertaking), the FCA has the power to give a direction to the qualifying parent undertaking of a UK RIE if the general condition is satisfied.(2) For the purposes of section 192C of the Act, a parent undertaking of a UK RIE is a ‘qualifying parent undertaking’ if:(a) the parent undertaking is a body corporate which is incorporated in the United Kingdom, or has a place of business in the United Kingdom;(b) the
SUP 12.3.6GRP
1The effect of section 39A(6)(b) of the Act is to prohibit a MiFID investment firm7 from appointing an FCA registered tied agent unless it has accepted responsibility in writing for the agent's activities in acting as a tied agent.
LR 8.2.1RRP
A company with, or applying for, a premium listing of its securities11 must appoint a sponsor on each occasion that it:45(1) is required to submit any of the following documents to the FCA in connection with6 an application for admission of securities115 to premium listing6:66(a) a prospectus or supplementary prospectus13; or671(b) [deleted]126(c) a summary document as required by article 1(5)(j) of the Prospectus Regulation13; or6(d) listing particulars referred to in LR 15.3.3
ICOBS 8.1.2AGRP
(1) 3Cases in which rejection of a consumer’s claim would be unreasonable (in the FCA’s view) include, but are not limited to rejection:(a) for misrepresentation, unless it is a qualifying misrepresentation (see ICOBS 8.1.3R);(b) where the claim is subject to the Insurance Act 2015, for breach of warranty or term, or for fraud, unless the insurer is able to rely on the relevant provisions of the Insurance Act 2015; and(c) where the policy is drafted or operated in a way that does