Related provisions for SYSC 22.8.1

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CASS 8.2.3GRP
(1) If a firm receives information that puts it in the position described in CASS 8.2.1 R (4) in order to effect transactions immediately on receiving that information, then such information could only amount to a mandate if the firm retained3 it (for example by not destroying the relevant document, electronic record or telephone recording3):3(a) after it uses it to effect those immediate transactions; or(b) because those transactions are not, for whatever reason, effected immediately.(2)
COCON 4.1.11GRP
The following is a non-exhaustive list of examples of conduct that would be in breach of rule 3.(1) Failing to report promptly in accordance with their firm's internal procedures (or, if none exist, direct to the regulator concerned), information in response to questions from the FCA, the PRA, or both the PRA and the FCA.(2) Failing without good reason to: (a) inform a regulator of information of which the approved person was aware in response to questions from that regulator;
COND 1.3.5UKRP
1Paragraph 1A of Schedule 6 to the Act(1) "assets" includes contingent assets;"consolidated supervision" has the same meaning as in section 3M(a);"consumer" has the meaning given by section 425A(b);"financial crime" is to be read with section 1H(3)(c);"functions", in relation to either the FCA or the PRA, means the functions conferred on that regulator by or under this Act;"liabilities" includes contingent liabilities; "relevant directives" has the same meaning as in section 3M;
REC 6.3.2UKRP

Sections 292(3) and 292(4) state:

2Section 292(3)

The requirements are that-

(a)

investors are afforded protection equivalent to that which they would be afforded if the body concerned were required to comply with -4

3

4(i) recognition requirements, other than any such requirements which are expressed in regulations under section 286 not to apply for the purposes of this paragraph; and

4(ii) requirements contained in any directly applicable Community regulation made under the markets in financial instruments directive or markets in financial instruments regulation;

(b)

there are adequate procedures for dealing with a person who is unable, or likely to become unable, to meet his obligations in respect of one or more market contracts connected with the [ROIE]

3

(c)

the applicant is able and willing to co-operate with the[FCA]3by the sharing of information and in other ways; and

3

(d)

adequate arrangements exist for co-operation between the[FCA]3and those responsible for the supervision of the applicant in the country or territory in which the applicant's head office is situated.

3

Section 292(4)

In considering whether it is satisfied as to the requirements mentioned in subsections (3)(a) and (b), the[FCA]3is to have regard to-

3

(a)

the relevant law and practice of the country or territory in which the applicant's head office is situated;

(b)

the rules and practices of the applicant.
MIPRU 4.2BA.9RRP
Policies and procedures: a firm must evaluate and address all risks, including reputational risks, through appropriate policies and procedures, to ensure in particular that the economic substance of the transaction is fully reflected in risk assessments and management decisions.
PERG 5.3.8GRP
Large risks situated outside the UK4 are also excluded (described in more detail at PERG 5.11.16 G (Large risks)). The location of the risk or commitment may be determined by reference to the State in which the risk is situated or the State of the commitment.4 Broadly put, this is:1111(1) for insurance relating to buildings and/or their contents, the State4 in which the property is situated;(2) for insurance relating to vehicles, the State4 of registration;(3) for policies of
COLL 6.10.2RRP
In complying with SYSC 4.3.1 R (Responsibility of senior personnel), an authorised fund manager of a UCITS scheme3must ensure that its senior personnel:(1) are responsible for the implementation of the general investment policy for each scheme it manages, as defined, where relevant, in the prospectus or the instrument constituting the fund;22(2) oversee the approval of investment strategies for each scheme it manages;(3) are responsible for ensuring that the authorised fund manager3has
COLL 6.1.3GRP
(1) The authorised fund manager operates the scheme on a day-to-day basis. Its operation is determined by the rules in this chapter, which require appropriate powers in the instrument constituting the fund3 or refer to the need to state the relevant operating procedures in the prospectus of the scheme.3(2) (a) 4The authorised fund manager does not necessarily have to carry out all the activities it is responsible for and may delegate functions to other persons.(b) 4The rules in
SYSC 13.7.1GRP
A firm should establish and maintain appropriate systems and controls for managing operational risks that can arise from inadequacies or failures in its processes and systems (and, as appropriate, the systems and processes of third party suppliers, agents and others). In doing so a firm should have regard to:(1) the importance and complexity of processes and systems used in the end-to-end operating cycle for products and activities (for example, the level of integration of systems);(2)
EG 3.11.1RP
1The FCA recognises that there are good reasons for firms wishing to carry out their own investigations. This might be for, for example, disciplinary purposes, general good management, or operational and risk control. The firm needs to know the extent of any problem, and it may want advice as to what immediate or short-term measures it needs to take to mitigate or correct any problems identified. The FCA encourages this proactive approach and does not wish to interfere with a
DTR 5.4.6RRP
A parent undertaking of a management company or of an investment firm must in relation to issuers subject to this chapter whose shares are admitted to trading on a regulated market be able to demonstrate to the FCA on request that:1(1) the organisational structures of the parent undertaking and the management company or investment firm are such that the voting rights are exercised independently of the parent undertaking;(2) the persons who decide how the voting rights are exercised
SYSC 4.3.1RRP
Afirm (with the exception of a common platform firm and 5a sole trader who does not employ any person who is required to be approved under section 59 of the Act (Approval for particular arrangements)),2 when allocating functions internally, must ensure that senior personnel and, where appropriate, the supervisory function, are responsible for ensuring that the firm complies with its obligations under the regulatory system1. In particular, senior personnel and, where appropriate,
COBS 20.3.6RRP

Table: Issues to be covered in PPFM

Subject

Issues

(1)

Amount payable under a with-profits policy

(a)

Methods used to guide determination of the amount that is appropriate to pay individual with-profits policyholders, including:

(i)

the aims of the methods and approximations used;

(ii)

how the current methods, including any relevant historical assumptions used and any systems maintained to deliver results of particular methods, are documented; and

(iii)

the procedures for changing the current method or any assumptions or parameters relevant to a particular method.

(b)

Approach to setting bonus rates.

(c)

Approach to smoothing maturity payments and surrender payments, including:

(i)

the smoothing policy applied to each type of with-profits policy;

(ii)

the limits (if any) applied to the total cost of, or excess from, smoothing; and

(iii)

any limits applied to any changes in the level of maturity payments between one period to another.

(2)

Investment strategy

Significant aspects of the firm's investment strategy for its with-profits business or, if different, any with-profits fund, including:

(a)

the degree of matching to be maintained between assets relevant to with-profits business and liabilities to with-profits policyholders and other creditors;

(b)

the firm's approach to assets of different credit or liquidity quality and different volatility of market values;

(c)

the presence among the assets relevant to with-profits business of any assets that would not normally be traded because of their importance to the firm, and the justification for holding such assets; and

(d)

the firm's controls on using new asset or liability instruments and the nature of any approval required before new instruments are used.

(3)

Business risk

The exposure of the with-profits business to business risks (new and existing), including the firm's:

(a)

procedures for deciding if the with-profits business may undertake a particular business risk;

(b)

arrangements for reviewing and setting a limit on the scale of such risks; and

(c)

procedures for reflecting the profits or losses of such business risks in the amounts payable under with-profits policies.

(4)

Charges and expenses

(a)

The way in which the firm applies charges and apportions expenses to its with-profits business, including, if material, any interaction with connected firms.

(b)

The cost apportionment principles that will determine which costs are, or may be, charged to a with-profits fund and which costs are, or may be, charged to the other parts of its business of its shareholders.

(5)

Management of inherited estate

Management of any inherited estate and the uses to which the firm may put that inherited estate.

(6)

Volumes of new business and arrangements on stopping taking new business

If a firm'swith-profits fund is accepting new with-profits business, its practice for review of the limits on the quantity and type of new business and the actions that the firm would take if it ceased to take on new business of any significant amount.

(7)

Equity between the with-profits fund and any shareholders

The way in which the interests of with-profits policyholders are, or may be, affected by the interests of any shareholders of the firm.
SUP 18.1.4GRP
An insurance business transfer scheme is defined in section 105 of the Act and the definition has been extended to transfers from underwritingmembers and former members3 of Lloyd's.333(1) [deleted]3(a) [deleted]33(b) [deleted]33(c) [deleted]33(2) [deleted]33The business transferred may include liabilities and potential liabilities on expired policies, liabilities on current policies and liabilities on contracts to be written in the period until the transfer takes effect. The parties
BIPRU 9.5.1BDRP
1An originator's application for a waiver of the requirements in BIPRU 9.5.1R (6) and (7) must demonstrate that the following conditions are satisfied:(1) it has policies and methodologies in place which ensure that the possible reduction of capital requirements which the originator achieves by the securitisation is justified by a commensurate transfer of credit risk to third parties; and(2) that such transfer of credit risk to third parties is also recognised for the purposes
CASS 11.11.5GRP
CASS debt management firms are reminded that they must, under SYSC 6.1.1 R, establish, implement and maintain adequate policies and procedures sufficient to ensure compliance of the firm with the rules in this chapter.
CASS 6.7.3GRP
(1) The disposal of a safe custody asset referred to under CASS 6.7.2R(1) includes cases where the firm is using the procedure under regulation 12B of the IBSA Regulations to set a ‘hard bar date’ by giving a ‘hard bar date notice’, or is using another similar procedure in accordance with the legal procedure for the firm’sfailure.(2) In any case, a firm should consider whether its obligations under law or any agreement permit it to dispose of a safe custody asset in the way in
CONC 2.10.11GRP
A firm should document practices and procedures to set out the steps that it takes when it receives applications for credit from such customers. [Note: paragraph 4.2 of MCG]
LR 6.2.3RRP
1Where an applicant has made an acquisition or series of acquisitions such that its own consolidated financial information is insufficient to meet the 75% requirement in LR 6.2.1R(2), there must be historical financial information relating to the acquired entity or entities which has been published or filed and that:(1) covers the period from at least three years prior to the date under LR 6.2.1R(3) up to the earlier of:(a) the date in LR 6.2.1R(3); or(b) the date of acquisition