Related provisions for PERG 8.14.38

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To access the FCA Handbook Archive choose a date between 1 January 2001 and 31 December 2004 (From field only).

LR 6.15.1RRP
1The FCA will not admit shares of an applicant incorporated in a third country2 that are not listed either in its country of incorporation or in the country in which a majority of its shares are held, unless the FCA is satisfied that the absence of the listing is not due to the need to protect investors. [Note: article 51 of the CARD]
LR 6.7.1RRP
1An applicant must satisfy the FCA that it and its subsidiary undertakings (if any) have sufficient working capital available for the group's requirements for at least the next 12 months from the date of publication of the prospectus or listing particulars for the shares that are being admitted.
LR 17.1.1RRP
1This chapter applies to(1) an issuer of any of the following types of securities:(a) debt securities;(b) asset-backed securities;(c) certificates representing debt securities;2(d) specialist securities of the following types:(i) convertible securities which convert to debt securities;(ii) convertible securities which convert to equity securities;2(iii) convertible securities which are exchangeable for securities of another company; and 2(iv) preference shares2
LR 1.6.1ARRP
1An issuer must comply with the rules that are applicable to every security in the category of listing which applies to each security the issuer has listed. The categories of listing are:(1) premium listing (commercial company); (2) premium listing (closed-ended investment fund);(3) [deleted]4(3A) premium listing (sovereign controlled commercial company);3(4) standard listing (shares);(4A) standard listing (open-ended investment companies);4(5) standard listing (debt and debt-like
LR 6.12.1RRP
1Where a property company applies for the admission of its equity shares to a premium listing and cannot comply with LR 6.3.1R because it does not have a revenue earning track record:(1) the property company must demonstrate that it has three years of development of its real estate assets represented by increases of the gross asset value of its real estate assets: (a) evidenced by the historical financial information required by LR 6.2.1R; and(b) supported by a published property
PERG 8.18.1GRP
A person involved in insurance business written at Lloyd’s may be making financial promotions when attracting another person:(1) to effect or carry out contracts of insurance written at Lloyd’s (where the controlled activity which is the subject of the financial promotion is effecting and carrying out contracts of insurance); or(2) to have assets held under funds at Lloyd’s (where the controlled activity may involve dealing in securities and contractually based investments, arranging
LR 12.3.1RRP
Where a purchase by a listed company of its own equitysecurities or preference shares is to be made from a related party, whether directly or through intermediaries, LR 11 (Related party transactions) must be complied with unless:(1) a tender offer is made to all holders of the class of securities; or(2) in the case of a market purchase pursuant to a general authority granted by shareholders, it is made without prior understanding, arrangement or agreement between the listed company
MAR 1.8.6GRP
The following is an example of behaviour3which may amount to a contravention of article 12(1)(c) of the Market Abuse Regulation3: (1) a person posts information on an Internet bulletin board or chat room which contains false or misleading statements about the takeover of a company whose shares are financial instruments3 and the person knows that the information is false or misleading.33[Note: article 12(1)(c) of the Market Abuse Regulation.]
LR 6.1.1RRP
This chapter applies to an applicant for the admission of equity shares to premium listing (commercial company) except where:11(1) the applicant meets the following conditions:11(a) it has an existing premium listing (commercial company) of equity shares;11(b) it is applying for the admission of equity shares of the same class as the shares that have been admitted to premium listing; and11(c) it is not entering into a transaction classified as a reverse takeover; or11(2) the following
DTR 5.9.1RRP
(1) A person making a notification to an issuer to which this chapter applies must, if the notification relates to shares admitted to trading on a regulated market, at the same time file a copy of such notification with the FCA.(2) The information to be filed with the FCA must include a contact address of the person making the notification (but such details must be in a separate annex and not included on the form which is sent to the issuer).[Note: article 19(3) of the TD]
COLL 6.9.4GRP
Independence is likely to be lost if either of the relevant parties could control the actions of the other by means of shareholders' votes. The FCA considers this would happen if any shareholding by one relevant party and their respective associates in the other exceeds 15% of the voting share capital, either in a single share class or several share classes. The FCA would be willing, however, to look at cross-shareholdings exceeding 15% on a case-by-case basis to consider if there
COLL 6.9.8BGRP
(1) 8ESMA has issued guidelines on the use of the term ‘UCITS ETF’. A ‘UCITS ETF’ is a UCITS with at least one unit or share class which is traded throughout the day, on at least one regulated market or multilateral trading facility, with at least one market maker that takes action to ensure that the stock exchange value of its units or shares does not significantly vary from its net asset value and, where applicable, its indicative net asset value.(2) A ‘UCITS ETF’ should use
FEES 4.4.9DRP
3To the extent that a firm4 has provided the information required by FEES 4.4.7 D to the FCA as part of its compliance with another provision of the Handbook, it is deemed to have complied with the provisions of that direction.444
SUP App 3.9.4GRP

1

Table 1: CRD activities6

6

Part II RAO Activities

Part III RAO Investments

1.

Taking6 deposits and other repayable funds from the public

6

Article 5

Article 74

2.

Lending

Article 61, 64

Article 88

3.

Financial leasing

4.

Money transmission services

5.

Issuing and administering means of payment (eg credit cards, travellers' cheques and bankers' drafts)

6.

Guarantees and commitments

7.

Trading for own account or for account of customers in:

(a) money market instruments

(b) foreign exchange

(c) financial futures and options

(d) exchange and interest rate instruments

(e) transferable securities

Article 14, 21, 25 (see Note 1), 64

Article 14, 21, 25, 64

Article 14, 21, 25, 64

Article 14, 21, 25, 64

Article 14, 21, 25, 64

Article 77, 78, 80, 83-85, 89

Article 83-85, 89

Article 83-85, 89

Article 83-85, 89

Article 76-81, 89

8.

Participation in share issues and the provision of services relating to such issues

Article 14, 21, 25, 53(1)10, 64

Article 76-81, 89

9.

Advice to undertakings on capital structure, industrial strategy and related questions and advice and services relating to mergers and the purchase of undertakings

Article 14, 21, 25, 53(1)10, 64

Article 76-80, 83-85, 89

10.

Money broking

Article 25, 64

Article 77, 78, 89

11.

Portfolio management and advice

Article 14, 21, 25, 37, 53(1)10, 64

Article 76-81, 83-85, 89

12.

Safekeeping and administration of securities

Article 40, 45, 64

Article 76-81, 83-85, 89

13.

Credit reference services

14.

Safe custody services

 1 16

615.

Issuing electric money

Article 9B

Article 74A

3Note 12: The services and activities provided for in Sections A and B of Annex I of MiFID when referring to the financial instruments provided for in Section C of Annex I of that Directive are subject to mutual recognition according to the CRD from 1 January 2013.6See2 the table at SUP App 3.9.5 G below for mapping of MiFIDinvestment services and activities.For further details relating to this residual category, please see the "CRD"6section of the passporting forms entitled "Notification of intention to establish a branch in another EEA State" and "Notification of intention to provide cross border services in another EEA State".2

266
SUP App 3.9.5AGRP

Table 2ZA: AIFMD activities

Part II RAO Activities

Part III RAO Investments

1.

AIFM management functions.

Article 51ZC

N/A (activity relates to property of any kind)

2.

Management of portfolios of investments, including those owned by pension funds and institutions for occupational retirement in accordance with article 19(1) of Directive 2003/41/EC, in accordance with mandates given by investors on a discretionary client-by-client basis (Note 2).

Articles 14, 21, 25, 37, 40 (arranging only), 64

Articles 76 to 81, 82B,12 83 to 85, 89

3.

Investment advice (Note 2).

Articles 53(1)10, 64

Articles 76 to 81, 82B,12 83 to 85, 89

4.

Safe-keeping and administration in relation to shares or units of collective investment undertakings.

Articles 40, 45, 64

Articles 76 to 81, 82B,12 83 to 85, 89

5.

Reception and transmission or orders in relation to financial instruments.

Articles 25(1), 64

Articles 76 to 81,82B,12 83 to 85, 89

Note 1. See FUND 1.4.2 R to FUND 1.4.4 R for further information in relation to the activities that full-scope UK AIFMs are able to perform.

Note 2. See FUND 1.4.5 G for the position with respect to assets which are not financial instruments.
CREDS 2.2.16GRP
(1) The 5credit union'sgoverning body5has responsibility for ensuring that the credit union complies with the requirements of SYSC 4.1.1 R (see CREDS 2.2.1 G and CREDS 2.2.2 G). So, the governing body5 has overall responsibility for:(a) establishing objectives and formulating a business plan;(b) monitoring the financial position of the credit union;(c) determining and documenting policies and procedures;(d) directing and coordinating the work of all employees and volunteers, and
CREDS 2.2.31GRP
Some important compliance issues include:(1) insurance against fraud and dishonesty;(2) arrangements for the prevention, detection and reporting of money laundering;(3) establishing and maintaining a satisfactory system of control;(4) keeping proper books of account;(5) computation and application of profits;(6) investment of surplus funds;(7) capital requirements; (8) liquidity requirements;(9) limits on shares, loans and conditional sale agreements and hire-purchase agreements8;(10)
PERG 2.8.4GRP
The regulated activity of dealing in investments as principal applies to specified transactions relating to any security or to any contractually based investment (apart from rights under funeral plan contracts or rights to or interests in such contracts). The activity is cut back by exclusions as follows.(1) Of particular significance is the exclusion in article 15 of the Regulated Activities Order (Absence of holding out etc). This applies where dealing in investments as principal
PERG 2.8.6AGRP
3The exclusions in the Regulated Activities Order that relate to the various arranging activities are as follows.(-1) 25Under article 24A(2), an activity that would otherwise be both arranging and bidding in emissions auctions is specifically excluded from arranging because the activity of bidding in emissions auctions does not form part of any other regulated activity (see PERG 2.7.6DG). 228(1) Under article 26, arrangements that do not or would not bring about the transaction
DISP App 1.6.1GRP
If, exceptionally under the guidance at DISP App 1.5.13 G to DISP App 1.5.21 G, cash or shares derived from a corporate event are to be taken into account when assessing loss and redress, cash should be valued at the amount actually received and shares should be valued at their issue price. In both cases there should be no addition for interest.3434
LR 3.2.2RRP
An applicant for admission must apply to the FCA by:(1) submitting, in final form:(a) the documents described in LR 3.3 in the case of an application in respect of equity shares;44(b) the documents described in LR 3.4 in the case of an application in respect of debt securities or other securities;(c) the documents described in LR 3.5 in the case of a block listing;(2) submitting all additional documents, explanations and information as required by the FCA;(3) submitting verification
LR 4.2.4RRP
The following minimum information from the PR Regulation5 must be included in listing particulars:(1) for an issue of bonds including bonds convertible into the issuer's shares or exchangeable into a third party issuer'sshares or derivative securities1, irrespective of the denomination of the issue, the minimum information required by Annexes 7 and 15 of the PR Regulation5;11(2) the additional information required by Annexes 17 and 18 of the PR Regulation5 where relevant;(3) for