Related provisions for SUP 7.1.1

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COND 1.2.1GRP
COND gives guidance on the threshold conditions. The FCA3threshold conditions represent the minimum conditions for which the FCA is responsible,3 which a firm is required to satisfy, and continue to satisfy, in order to be given and to retainPart 4A permission. A PRA-authorised person or, as appropriate, a firm seeking to become a PRA-authorised person must also satisfy, and continue to satisfy, the threshold conditions for which the PRA is responsible in order to be given and
COND 1.2.2GRP
(1) Under section 55B(3) of the Act3, in giving or varying a Part 4A permission,3 imposing or varying any requirement or giving consent3, the FCA3 must ensure that the firm concerned will satisfy, and continue to satisfy, the FCA3threshold conditions in relation to all of the regulated activities for which it has or will have permission.(2) [deleted]43333333
SUP 16.12.11RRP

The applicable data items referred to in SUP 16.12.4 R are set out according to firm type in the table below:

89Description of data item

Firms’prudential category and applicable data items (note 1)

MIFIDPRU investment firms

Firms other than MIFIDPRU investment firms

IPRU(INV)Chapter 3

IPRU(INV)Chapter 5

91

IPRU(INV)Chapter 13

Solvency statement

No standard format (note 4)

No standard format (note 6)

No standard format (note 4)

Balance sheet

FSA029

(note 2)

FSA029

(note 5)

FSA029

91

Section A RMAR

Income statement

FSA030

(note 2)

FSA030

(note 5)

FSA030

91

Section B RMAR

Capital adequacy

MIF001

(note 2 and 3)

FSA033

(note 5)

FSA034 or FSA035 or FIN071

(note 7)

91

Section D1 RMAR

Supplementary capital data for collective portfolio management investment firms

FIN067

(note 13)

ICARA assessment questionnaire

MIF007

(note 3)

Threshold conditions

Section F RMAR

Client money and client assets

FSA039

FSA039

FSA039

91

Section C RMAR

CFTC

FSA040 (note 8)

FSA040 (note 8)

FSA040 (note 8)

91

FSA040 (note 8)

Liquidity

MIF002

(notes 2, 3 and 10)

Metrics reporting

MIF003

(notes 2 and 3)

Concentration risk (non-K-CON)

MIF004

(notes 2, 3 and 11)

Concentration risk (K-CON)

MIF005

(notes 2, 3 and 11)

Group capital test

MIF006

(notes 3 and 12)

Liquidity Questionnaire

MLA-M (note 9)

MLA-M (note 9)

MLA-M (note 9)

91

MLA-M (note 9)

Note 1

All firms (except MIFIDPRU investment firms in relation to items reported under MIFIDPRU 9) must, when submitting the completed data item required, use the format of the data item set out in SUP 16 Annex 24R. Guidance notes for completion of the data items are contained in SUP 16 Annex 25G.

Note 2

A UK parent entity of an investment firm group to which consolidation applies under MIFIDPRU 2.5 must also submit this report on the basis of the consolidated situation.

Note 3

Data items MIF001 – MIF007 must be reported in accordance with the rules in MIFIDPRU 9.

Note 4

Only applicable to a firm that is a sole trader or partnership. Where the firm is a partnership, this report must be submitted by each partner.

Note 5

Except if the firm is an adviser (as referred to in IPRU-INV (3)-60(4)R).

Note 6

Only required in the case of an adviser (as referred to in IPRU-INV (3)-60(4)R)) that is a sole trader.

Note 7

FSA034 must be completed by a firm not subject to the exemption in IPRU(INV) 5.4.2R, unless it is a firm whose permitted business includes establishing, operating or winding up a personal pension scheme, in which case FIN071 must be completed.

FSA035 must be completed by a firm subject to the exemption in IPRU(INV) 5.4.2R.

Note 8

Only applicable to firms granted a Part 30 exemption order and operating an arrangement to cover forward profits on the London Metals Exchange.

Note 9

Only applicable to RAG 3 firms carrying on home financing or home finance administration connected to regulated mortgage contracts, unless as at 26 April 2014 the firm’sPart 4A permission was and remains subject to a restriction preventing it from undertaking new home financing or home finance administration connected to regulated mortgage contracts.

Note 10

Does not apply to an SNI MIFIDPRU investment firm which has been granted an exemption from the liquidity requirements in MIFIDPRU 6.

Note 11

Only applicable to a non-SNI MIFIDPRU investment firm.

Note 12

Only applicable to a parent undertaking to which the group capital test applies.

Note 13

Only applicable to firms that are collective portfolio management investment firms.
SUP 16.12.29CRRP

47The applicable data items, reporting frequencies and submission deadlines referred to in SUP 16.12.4 R are set out in the table below. Reporting frequencies are calculated from a firm'saccounting reference date, unless indicated otherwise. The due dates are the last day of the periods given in the table below following the relevant reporting frequency period.

Description of data item

Data item (note 1)

Frequency

Submission deadline

Annual revenue from credit-related regulated activities up to and including £5 million (note 2)

Annual revenue from credit-related regulated activities over £5 million

Financial data (note 3)

CCR001

Annually

Half yearly

30 business days

Volumes (note 4)

CCR002

Annually

Half yearly

30 business days

Lenders (note 5)

CCR003

Annually

Half yearly

30 business days

Debt management (note 6)

CCR004

Annually

Half yearly

30 business days

Client Money & Assets (note 7)

CCR005

Annually

Half yearly

30 business days

Debt collection (note 8)

CCR006

Annually

Half yearly

30 business days

Key data (note 9)

CCR007

Annually

Annually

30 business days56

56Credit broking websites (note 10)

73

73

60

73

60

[deleted]73

Note 1

When submitting the required data item, a firm must use the format of the data item set out in SUP 16 Annex 38A50. Guidance notes for the completion of the data items is set out in SUP 16 Annex 38B50.

Note 2

References to revenue in SUP 16.12.29C R in relation to any firm do not include the amount of any repayment of any credit provided by that firm as lender.

Note 3

(a) Subject to (b) to (d) below, this data item applies to all credit firms.

(b) This data item does not apply to a firm if the only credit-related regulated activity for which it has permission is operating an electronic system in relation to lending.

(c) This data item does not apply to a firm required to submit a Balance Sheet, Income Statement or Capital Adequacy data item from a RAG other than RAG 12.

(d) This data item does not apply to a firm with limited permission unless it is a not-for-profit debt advice body and at any point in the last 12 months has held £1 million or more in client money or as the case may be, projects that it will hold £1million or more in client money in the next 12 months.

Note 4

(a) Subject to (b) below, this data item applies to all credit firms.

(b) This data item does not apply to a firm with limited permission unless it is a not-for-profit debt advice body and at any point in the last 12 months has held £1 million or more in client money or as the case may be, projects that it will hold £1million or more in client money in the next 12 months.

Note 5

This data item applies to all firms with permission for entering into a regulated credit agreement as lender or exercising, or having the right to exercise, the lender's rights and duties under a regulated credit agreement.

Note 6

(a) Subject to (b) to (d) below, this data item applies to a debt management firm and to a not-for-profit debt advice body that at any point in the last 12 months has held £1 million or more in client money or, as the case may be, projects that it will hold £1million or more in client money in the next 12 months.

(b) This data item does not apply to a firm with limited permission other than a not-for-profit debt advice body within (a).

(c) This data item does not apply to a firm required to submit a Capital Adequacy data item from a RAG other than RAG 12, or under SUP 16.13, unless (d) applies

(d) Where a firm is required to submit a Capital Adequacy data item from a RAG other than RAG 12 or under SUP 16.13 but the firm's highest capital requirement derives from its activity under RAG 12, the firm should submit both CCR004 and the Capital Adequacy data item required from the RAG other than RAG 12 or SUP 16.13.

Note 7

This data item applies to a CASS debt management firm, unless the firm is 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 effect76.

Note 8

This data item applies to a firm with permission to carry on debt collecting or operating an electronic system in relation to lending.

Note 980

(a) Subject to (b) and (c) below, this data item applies to a firm that has limited permission.

(b) This data item does not apply to an authorised professional firm that is a CASS debt management firm. Such a firm is instead required to submit the other data items in SUP 16.12.29C R as appropriate.

(c) This data item does not apply to a not-for-profit debt advice body that at any point in the last 12 months has held £1 million or more in client money or, as the case may be, projects that it will hold £1million or more in client money in the next 12 months. Such a not-for-profit debt advice body is instead required to submit data items CCR001, CCR002, CCR004 and CCR005.56

56Note 10

[deleted]73

6868

60Note 11

[deleted]73
SUP 16.12.32RRP
(1) A firm that is a member of a financial conglomerate must submit financial reports to the FCA68 in accordance with the table in SUP 16.12.33 R if:9696(a) it is at the head of a financial conglomerate81; or9696(b) its Part 4A permission96 contains a relevant requirement.96(2) In (1)(b), a relevant requirement is one which:(a) applies SUP 16.12.33 R to the firm; or(b) applies SUP 16.12.33 R to the firm unless the mixed financial holding company of the financial conglomerate
SUP 10A.16.1DRP
(1) This direction applies to an application under Form A or Form E.(2) An5 application 4must be made by submitting the Form in accordance with the requirements in SUP 10C.15 (Forms and other documents and how to submit them to the FCA) about the submission of those Forms6. 11322(2A) [deleted]51(3) [deleted]4(4) [deleted]6(5) [deleted]64
CONC 14.1.3GRP
(1) A firm in CONC 14.1.2 R would need to have a Part 4A permission for every activity the individual carries on as its agent for which the firm would need permission if it were carrying on the activity itself.1(2) CONC 14 uses the expression "individual" in its natural meaning as referring to a single human being.1
EG 2.6.1RP
2The FCA views co-operation with its overseas counterparts as an essential part of its regulatory functions. Section 354A of the Act imposes a duty on the FCA to take such steps as it considers appropriate to co-operate with others who exercise functions similar to its own. This duty extends to authorities in the UK and overseas. In fulfilling this duty the FCA may share information which it is not prevented from disclosing, including information obtained in the course of the
MIPRU 2.1.1RRP
1This chapter applies to a firm with Part 4A permission to carry on insurance distribution activity3 or MCD credit intermediation activity.2
REC 6.1.1GRP
The Act prohibits any person from carrying on, or purporting to carry on, regulated activities in the United Kingdom unless that person is an authorised person or an exempt person. If an overseas investment exchange wishes to undertake regulated activities in the United Kingdom, it will need to:2(1) obtain a Part 4A permission2 from the FCA2; or422(2) [deleted]4(3) [deleted]4113331(4) obtain exempt person status by being declared by the FCA2 to be an ROIE.222
PERG 1.1.1GRP
This manual applies to:(1) a person who is considering carrying on activities in the United Kingdom which may fall within the scope of the Act and is seeking guidance on whether he needs to be an authorised person;(2) a person who seeks to become an authorised person under the Act and who is, or is considering, applying for Part 4A permission to carry on regulated activities in the United Kingdom;(3) a person who is seeking guidance on whether any communication he may be seeking
MIPRU 1.1.1GRP
2This sourcebook applies to a firm with Part 4A permission to carry on:(1) insurance distribution activity3;(2) home finance mediation activity;11(3) home financing;111(4) home finance administration;1 and11(5) insurance business;as specified in the beginning of each of the remaining chapters.
BIPRU 7.8.34RRP
Except where otherwise specified by a requirement on its Part 4A permission, a firm must calculate the net underwriting exposure to an issuer by applying the relevant reduction factors in the table in BIPRU 7.8.35R to its net underwriting position calculated under BIPRU 7.8.17R.
BIPRU 7.8.36GRP
The effect of BIPRU 7.8.34R is that there is no concentration limit for net underwriting exposures between initial commitment and the end of working day 0, except where specified by a requirement on a firm'sPart 4A permission.
FEES 1.1.1GRP
(1) FEES applies to all persons required to pay a fee or levy under a provision of the Handbook. The purpose of this chapter is to set out to whom the rules and guidance in FEES apply. 30(2) FEES 2 (General Provisions) contains general provisions which may apply to any type of fee payer.30(3) FEES 3 (Application, Notification and Vetting Fees) covers one-off fees payable on a particular event for example:3330(a) 33various application fees (including those in relation to authorisation,
FEES 1.1.2RRP
This manual applies in the following way:(1) FEES 1, 2 and 3 apply to the fee payers listed in column 1 of the Table of application, notification and vetting fees in FEES 3.2.7 R29. 1049(a) [deleted]1010(b) [deleted]1010(c) [deleted]1010(d) [deleted]1010(e) [deleted]10(f) [deleted]1010(g) [deleted]1010(h) [deleted]1010(i) [deleted]1010(j) [deleted]1010(k) [deleted]1010(l) [deleted]1010(m) [deleted]1010(n) [deleted]104(o) 3345410[deleted]10(p) 55410[deleted]10(q) 6510[deleted]10(r)
SUP 12.6.6RRP
A firm must take reasonable steps to ensure that each of its appointed representatives:(1) does not carry on regulated activities in breach of the general prohibition in section 19 of the Act or (if the appointed representative is a firm with a limited permission) in breach of section 20(1) or (1A) of the Act9; and(2) carries on the regulated activities for which the firm has accepted responsibility in a way which is, and is held out as being, clearly distinct from any of the
SUP 12.6.8GRP
SUP 10A applies certain controlled functions to an appointed representative of a firm. In the case of an appointed representative that also has a limited permission, SUP 10C may apply in addition to SUP 10A.19
FEES 4.3.6RRP
(1) [deleted]17272712112727111127(1A) [deleted] 1727(1B) [deleted] 1727(1C) 17If a person meets either of the conditions in (1D) it must pay the FCA the fee in (1E).(1D) 17A person meets the conditions referred to in (1C) if:(a) its periodic fee for the previous fee year was at least £50,000 and it is:(i) an FCA-authorised person; or(ii) a designated professional body; or(iii) a recognised investment exchange; or(iv) a regulated covered bondissuer; or(b) it is a PRA-authorised
FEES 4.3.14GRP
The due dates for payment of periodic fees are modified by FEES 4.3.6R(3), FEES 4.3.6R(4), 24FEES 4.3.6R(4A) and FEES 4.3.4R(7),24 respectively where:20(1) a firm has applied to cancel its:20(a) Part 4A permission; or20(b) its authorisation or registration under the Payment Services Regulations or the Electronic Money Regulations; or20(c) its registration as a CBTL firm under article 13(c) of the MCD Order; or20(d) authorisation under regulation 11 of the DRS Regulations; or20(2)
EG 6.2.21RP
3It is important that the FCA maintains an accurate public record. One of the ways the FCA does this is by publishing1 the reasons for variations of Part 4A permission, the imposition of requirements,5 variations of the approval of SMF managers and the imposition and variation of directions under regulation 74C(5) of the Money Laundering Regulations5. The FCA will always aim to balance1 the interests of consumers and the possibility of unfairness to the person subject to the
EG 6.2.22RP
3The FCA will amend the Financial Services Register to reflect a firm’s actual Part 4A permission,5 the terms of an SMF manager’s actual approval under section 59 of the Act1 following any variation or the terms of a direction imposed under regulation 74C of the Money Laundering Regulations5.
PERG 5.15.2GRP
[deleted]2
PERG 5.15.8GRP
[deleted]2
SUP 10A.6.8RRP
(1) If an appointed representative8 is a body corporate (other than a limited liability partnership), the director function is also the function of acting in the capacity of a person:(a) who is a director, partner, officer, member (if the parent undertaking or holding company is a limited liability partnership), senior manager, or employee of a parent undertaking or holding company of the appointed representative8; and(b) whose decisions or actions are regularly taken into account
SUP 10A.6.13RRP
(1) If an appointed representative8 is a body corporate, the non-executive director function is also the function of acting in the capacity of a person:(a) who is a non-executive director of a parent undertaking or holding company; and(b) whose decisions or actions are regularly taken into account by the governing body of the appointed representative8.(2) However, (1) does not apply if that parent undertaking or holding company has a Part 4A permission or is regulated by an EEA
SUP 10C.10.2RRP
6Unless the context otherwise requires, in SUP 10C.10 (Application for approval and withdrawing an application for approval) to SUP 10C.15 (Forms and other documents and how to submit them to the FCA), where reference is made to a firm, this includes an applicant for Part 4A permission and other persons seeking to carry on regulated activities as an SMCR firm.
SUP 10C.10.25GRP
In any case6 where the application for approval is made by a person applying for a Part 4A permission, the FCA has until the end of whichever of the following periods ends last: (1) the period within which an application for that permission must be determined; and(2) the period of three months from the time it receives a properly completed application.