Related provisions for PERG 7.4.13

FEES 6.7.6R01/04/2018

If a firm ceases to be a participant firm or carry out activities within one or more classes54 part way through a financial year6 of the compensation scheme:44(1) it will remain liable for any unpaid levies which the FSCS has already made on the firm; and41(2) the FSCS may make one or more levies4 upon it (which may be before or after the firm5 has ceased to be a participant firm or carry out activities within one or more classes5,4 but must be before it ceases to be an authorised

SUP 10C.1.5G01/01/2021

[deleted]8

COLL 8.1.2G01/04/2013

(1) This chapter assists in achieving the statutory objective of protecting consumers by providing an appropriate degree of protection in respect of authorised funds that are only intended for investors that are, in general, prepared to accept a higher degree of risk in their investments or have a higher degree of experience and expertise than investors in retail schemes.(2) This section ceases to apply where a qualified investor scheme has converted to be authorised as a UCITS

MAR 5.3.1AR01/12/2021

4A firm must:(1) ensure the MTF has at least three materially active members or users who each have the opportunity to interact with all the others in respect of price formation;[Note: article 18(7) of MiFID](2) have arrangements to ensure it is adequately equipped to manage the risks to which it is exposed, to implement appropriate arrangements and systems to identify all significant risks to its operation and put in place effective measures to mitigate those risks;[Note: article

PERG 8.13.4G01/10/2018

Intermediaries involved with arranging and advising on deposits may be unauthorised persons as such activities do not amount to regulated activities (other than where they involve giving basic advice on a stakeholder product (article 52A of the Regulated Activities Order (Giving basic advice on a stakeholder product))) and so do not require authorisation under section 19 of the Act. However, the combination of the exemptions in Part V together with certain of the exemptions in

PERG 8.36.6G31/01/2024

Table Application of Exemptions to Forms of Promotions

Financial Promotion Order		Applies to
Article No.	Title and PERG 8 reference (where applicable)	Unsolicited real time	Solicited real time	Non-real time (solicited or unsolicited)
12	Communications to overseas recipients (8.12.2G)	*¹	*	*
13	Communications from customers and potential customers (8.12.9G)	*	*	*
14	Follow up non-real time communications and solicited real time communications (8.12.10G)		*	*
15	Introductions (8.12.11G)	*	*	*1
16	Exempt persons (8.12.12G)	*²	*³	*³
17	Generic promotions (8.12.14G and 8.21.4G)	*	*	*
17A1	Communications caused to be made or directed by unauthorised persons (8.6.7AG)	*	*	*
18	Mere conduits (8.12.18G)	*	*	*
18A	Outgoing electronic commerce communications: mere conduits, caching and hosting (8.12.18G)1	*	*	*
19	Investment professionals (8.12.21G and 8.21.5G)	*	*	*
20	Communications by journalists (8.12.23G)			*
20A	Promotion broadcast by company director etc (8.12.23G and 8.21.6G)	*	*	*
12	12	12	12	12
22	Deposits : non-real time communications (8.13)			*
23	Deposits : real time communications (8.13)	*	*
24	Relevant insurance activity : non-real time communications (8.13)			*
25	Relevant insurance activity : non-real time communications : reinsurance and large risks (8.13)			*
26	Relevant insurance activity : real time communications (8.13)	*	*
28	One-off non-real time communications and solicited real time communications (8.14.3G)		*	*
28A	One-off unsolicited real time communications (8.14.11G)	*
28B1	Real time communications: introductions in connection with qualifying credit (8.17.12G)	*	*
29	Communications required or authorised by enactments	*	*	*
30	Overseas communicators: solicited real time communications (8.14.15G)		*
31	Overseas communicators: non-real time communications to previously overseas customers (8.14.17G)			*
32	Overseas communicators: unsolicited real time communications to previously overseas customers (8.14.16G)	*
33	Overseas communicators: unsolicited real time communications to knowledgeable customers (8.14.16G)	*
34	Governments, central banks etc		*	*
35	Industrial and provident societies		*	*
12	12		12	12
37	Financial markets		*	*
38	Persons in the business of placing promotional material	*	*	*
39	Joint enterprises (8.14.19G)	*	*	*
40	Participants in certain recognised collective investment schemes		*	*
41	Bearer instruments: promotions required or permitted by market rules (8.14.42G)		*	*
42	Bearer instruments: promotions to existing holders (8.14.42G)		*	*
43	Members and creditors of certain bodies corporate (8.14.41G and 8.21.8G)		*	*
44	Members and creditors of open-ended investment companies		*	*
45	Group companies	*	*	*
46	Qualifying credit to bodies corporate (8.17.10G)1	*	*	*10
1046A	Promotions of credit etc. for business purposes (8.17-A.10G)	*	*	*
47	Persons in the business of disseminating information (8.21.10G)	*	*	*
48	High15 net worth individuals (8.14.21G)		*	*
49	High net worth companies, unincorporated associations etc (8.14.25G)	*	*	*
50	Sophisticated investors (8.14.27G)	*	*	*
50A	Self-certified sophisticated investors {8.14.28AG)	*5	*	*
51	Associations of high net worth or sophisticated investors (8.14.29G)		*	*
52	Common interest group of a company (8.14.30G)		*	*
53	Settlors, trustees and personal representatives	*	*	*
54	Beneficiaries of trust, will or intestacy	*	*	*
55	Communications by members of professions (8.15.1G)	*	*
55A	Non-real time communication by members of the professions. (8.15.5G)			*
56	Remedy following report by Parliamentary Commissioner for Administration	*	*	*
57	Persons placing promotional material in particular publications	*	*	*
58	Acquisition of interest in premises run by management companies		*	*
59	Annual accounts and directors' report (8.21.11G)	*	*	*
60	Participation in employee shares schemes	*	*	*
61	Sale of goods and supply of services		*	*
62	Sale of body corporate (8.14.35G)	*	*	*
64	Takeovers of relevant unlisted companies	*	*	*
65	Takeovers of relevant unlisted companies: warrants etc	*	*	*
66	Takeovers of relevant unlisted companies: application forms	*	*	*
67	Promotions required or permitted by market rules (8.21.13G)		*	*
68	Promotions in connection with admission to certain EEA markets (8.21.16G)		*	*
69	Promotions of securities already admitted to certain markets (8.21.17G)		*	*1
701	Promotions included in listing particulars etc (8.21.20G)1			*1
711	Material relating to prospectus for public offer of unlisted securities			*1
721	Pension products offered by employers (8.14.40AG8)	*	*	*
872A	Pension product offers communicated to employees by third parties (8.14.40AAG)	*	*	*
872B	Insurance product offers communicated to employees by employers (8.14.40ABG)	*	*	*
872C	Insurance products offers communicated to employees by third parties (8.14.40ACG)	*	*	*
872D	Staff mortgage offers communicated to employees by employers (8.14.40ADG)	*	*	*
872E	Staff mortgage offers communicated to employees by third parties (8.14.40AEG)	*	*	*10
1072F	Credit agreements offered to employees by employers	*	*	*
731	Advice centres (8.14.40B)	*	*	*


¹ in limited circumstances only – see article 12(2) of the Financial Promotion Order
² for the purpose of article 16 (2) only
³ for the purpose of article 16 (1) only1

CONC 2.7.1R01/01/2021

(1) Subject to (2) and (3), this section applies to a firm that carries on any distance marketing activity from an establishment in the UK, with or for a consumer in the UK4.(2) This section does not apply to an authorised professional firm with respect to its non-mainstream regulated activities.(3) This section does not apply to an activity in relation to a consumer hire agreement.

MAR 5.3A.9R01/01/2021

A firm which permits direct electronic access to an MTF it operates must:(1) not permit members or participants of the MTF to provide such services unless they are: (a) MiFID investment firms3; or (b) CRD credit institutions; or(c) third country firms providing the direct electronic access in the course of exercising rights under article 46.1 of MiFIR; or(d) third country firms providing the direct electronic access in the course of exercising rights under article 47.3 of MiFIR;

BIPRU 2.1.15R01/01/2007

A firm must continue to calculate its base capital resources requirement and the requirement in GENPRU 2.1.42 R (Calculation of capital resources requirement on authorisation) on a solo basis.

DISP 2.3.1AR01/01/2021

17The Ombudsman can also consider a complaint under the Compulsory Jurisdiction if it relates to an act or omission by: (1) an investment firm authorised under the UK provisions which implemented22MiFID when providing investment services or ancillary services;(2) a CRD credit institution when providing one or more investment services;(3) an investment firm authorised under the UK provisions which implemented22MiFID or a CRD credit institution when selling structured deposits

PERG 1.4.2G01/01/2022

Table: list of general guidance to be found in PERG.

Chapter:	Applicable to:	About:
PERG 2: Authorisation and regulated activities	an unauthorised person wishing to find out whether he needs to be authorised or exempt an authorised person wishing to know whether he needs to vary hisPart 4A permission	the regulatory scope of the Act the Regulated Activities Order the Exemption Order the Business Order
PERG 3A:8 Guidance on the scope of the Electronic Money Regulations 8 8 8	a person who needs to know whether a particular electronic payment product is8electronic money 8 and whether the person issuing it needs to be8 authorised or registered under the Electronic Money Regulations 8	the scope of the8Electronic Money Regulations 8
PERG 4: Regulated activities connected with mortgages	any person who needs to know whether the activities he conducts in relation to mortgages are subject to FCA regulation. This is likely to include: lenders administration service providers mortgage brokers and advisers	the scope of relevant orders (in particular, the Regulated Activities Order) as respects activities concerned with mortgages
PERG 5: Insurance distribution13 activities	any person who needs to know whether they carry on insurance distribution activities and are13,thereby, subject to FCA regulation. This is likely to include: insurance brokers insurance advisers insurance undertakings other persons involved in the sale or administration of contracts of insurance, where these activities are secondary to their main business.	the scope of relevant orders (in particular, the Regulated Activities Order) as respects activities concerned with the sale or administration of insurance
PERG 6: Identification of contracts of insurance	any person who needs to know whether a contract with which he is involved is a contract of insurance	the general principles and range of specific factors that the FCA regards as relevant in deciding whether any arrangement is a contract of insurance
PERG 7: Periodical publications, news services and broadcasts: application for certification	any person who needs to know whether he will be regulated for providing advice about investments through the medium of a periodical publication, a broadcast or a news service	the circumstances in which such persons will be carrying on the regulated activities of advising on investments or advising on regulated mortgage contracts (including where a request for a certificate may be appropriate) how theFCA will exercise its power to grant certificates
PERG 8: Financial promotion and related activities	any person who needs to know whether his communications are financial promotions or are subject to the restriction in section 21 of the Act or both whether his activities in making or helping others to make financial promotions are regulated activities. whether he is marketing an AIF.11	the scope of the restriction on financial promotion under section 21 of the Act and the main exemptions provided the circumstances in which persons who are primarily involved in making or helping others to make financial promotions may themselves be conducting regulated activities requiring authorisation or exemption the marketing of an AIF.11
PERG 9: Meaning of open-ended investment company	any person who needs to know whether a body corporate is an open-ended investment company as defined in section 236 of the Act (Open-ended investment companies) and is therefore a collective investment scheme.	the circumstances in which a body corporate will be an open-ended investment company
PERG 10: Activities related to pension schemes	Any person who needs to know whether his activities in relation to pension schemes will amount to regulated activities or whether the restriction in section 21 of the Act will apply to any financial promotions he may make.1 1	the regulated activities that arise in connection with the establishment and operation of pension schemes and any exclusions that may be relevant the circumstances in which financial promotions about pension schemes may be exempt from the restriction in section 21 of the Act 1
4PERG 11: Property investment clubs and land investment schemes	Any person who needs to know whether his activities in relation to property investment clubs and land investment schemes will amount to regulated activities or whether the restriction in section 21 of the Act will apply to any financial promotions he may make.	the regulated activities that may arise in connection with the establishment and operation of property investment clubs and land investment schemes and any exclusions that may be relevant the extent to which the financial promotion restriction in section 21 of the Act applies
2PERG 12: Running or advising on personal pension schemes	any person who needs to know whether his activities in relation to establishing, running, advising on or marketing personal pension schemes will amount to regulated activities	the regulated activities that arise in connection with establishing, running, advising on or marketing personal pension schemes and any exclusions that may be relevant
3PERG 13: Guidance on the scope of the UK provisions which implemented14 MiFID 15 9 12 12 5	Any UK person who needs to know whether MiFID applies to them15 9 14 14 9 14 5	the scope of the UK provisions which implemented14 MiFID 15 9 14 5
3PERG 14: Home reversion,7 home finance and regulated sale and rent back 7activities 7	Any person who needs to know whether his activities in relation to home reversion plans,7 home purchase plans or regulated sale and rent back agreements 7will amount to regulated activities or whether the restriction in section 21 of the Act will apply to any financial promotions he may make. 7	the regulated activities that arise in connection with home reversion plans,7 home purchase plansand regulated sale and rent back agreements 7and any exclusions that may be relevant the circumstances in which financial promotions about home reversion plans,7home purchase plansand regulated sale and rent back agreements 7may be made without breaching the restriction in section 21 of the Act
6PERG 15: Guidance on the scope of the Payment Services Regulations 2009	Any person with an establishment in the UK who needs to know whether the Payment Services Directive, as transposed in UK legislation by the Payment Services Regulations 2009, applies to him. Q46 applies specifically to persons providing payment services from an establishment outside the EEA to persons located in the UK.	the scope of the PSD Regulations 2009.11
11PERG 16: Scope of the Alternative Investment Fund Managers Directive	any person who needs to know whether a collective investment undertaking is an AIF.	the scope of the regulated activities of managing an AIF and acting as trustee or depositary of an AIF.10
10PERG 17: Consumer credit debt counselling	Any person who needs to know whether his activities in relation to debts will amount to debt counselling.	The scope of the regulated activities relating to consumer credit debt counselling.

Chapter:

Applicable to:

About:

PERG 2:

Authorisation and regulated activities

an unauthorised person wishing to find out whether he needs to be authorised or exempt
an authorised person wishing to know whether he needs to vary hisPart 4A permission

the regulatory scope of the Act
the Regulated Activities Order
the Exemption Order
the Business Order

PERG 3A:8

Guidance on the scope of the Electronic Money Regulations 8

8 8

a person who needs to know

whether a particular electronic payment product is8electronic money 8 and whether the person issuing it needs to be8 authorised or registered under the Electronic Money Regulations 8

the scope of the8Electronic Money Regulations 8

PERG 4:

Regulated activities connected with mortgages

any person who needs to know whether the activities he conducts in relation to mortgages are subject to FCA regulation. This is likely to include:

lenders
administration service providers
mortgage brokers and advisers

the scope of relevant orders (in particular, the Regulated Activities Order) as respects activities concerned with mortgages

PERG 5:

Insurance distribution13

activities

any person who needs to know whether they carry on insurance distribution activities and are13,thereby, subject to FCA regulation. This is likely to include:

insurance brokers
insurance advisers
insurance undertakings
other persons involved in the sale or administration of contracts of insurance, where these activities are secondary to their main business.

the scope of relevant orders (in particular, the Regulated Activities Order) as respects activities concerned with the sale or administration of insurance

PERG 6:

Identification of contracts of insurance

any person who needs to know whether a contract with which he is involved is a contract of insurance

the general principles and range of specific factors that the FCA regards as relevant in deciding whether any arrangement is a contract of insurance

PERG 7:

Periodical publications, news services and broadcasts: application for certification

any person who needs to know whether he will be regulated for providing advice about investments through the medium of a periodical publication, a broadcast or a news service

the circumstances in which such persons will be carrying on the regulated activities of advising on investments or advising on regulated mortgage contracts (including where a request for a certificate may be appropriate)
how theFCA will exercise its power to grant certificates

PERG 8:

Financial promotion and related activities

any person who needs to know

whether his communications are financial promotions or are subject to the restriction in section 21 of the Act or both
whether his activities in making or helping others to make financial promotions are regulated activities.
whether he is marketing an AIF.11

the scope of the restriction on financial promotion under section 21 of the Act and the main exemptions provided
the circumstances in which persons who are primarily involved in making or helping others to make financial promotions may themselves be conducting regulated activities requiring authorisation or exemption
the marketing of an AIF.11

PERG 9:

Meaning of open-ended investment company

any person who needs to know whether a body corporate is an open-ended investment company as defined in section 236 of the Act (Open-ended investment companies) and is therefore a collective investment scheme.

the circumstances in which a body corporate will be an open-ended investment company

PERG 10:

Activities related to pension schemes

Any person who needs to know whether his activities in relation to pension schemes will amount to regulated activities or whether the restriction in section 21 of the Act will apply to any financial promotions he may make.1

1

the regulated activities that arise in connection with the establishment and operation of pension schemes and any exclusions that may be relevant
the circumstances in which financial promotions about pension schemes may be exempt from the restriction in section 21 of the Act 1

4PERG 11:

Property investment clubs and land investment schemes

Any person who needs to know whether his activities in relation to property investment clubs and land investment schemes will amount to regulated activities or whether the restriction in section 21 of the Act will apply to any financial promotions he may make.

the regulated activities that may arise in connection with the establishment and operation of property investment clubs and land investment schemes and any exclusions that may be relevant
the extent to which the financial promotion restriction in section 21 of the Act applies

2PERG 12:

Running or advising on personal pension schemes

any person who needs to know whether his activities in relation to establishing, running, advising on or marketing personal pension schemes will amount to regulated activities

the regulated activities that arise in connection with establishing, running, advising on or marketing personal pension schemes and any exclusions that may be relevant

3PERG 13:

Guidance on the scope of the UK provisions which implemented14 MiFID 15

9 12 12 5

Any UK person who needs to know whether MiFID applies to them15

9 14 14 9 14 5

the scope of the UK provisions which implemented14 MiFID 15

9 14 5

3PERG 14:

Home reversion,7 home finance and regulated sale and rent back 7activities

7

Any person who needs to know whether his activities in relation to home reversion plans,7 home purchase plans or regulated sale and rent back agreements 7will amount to regulated activities or whether the restriction in section 21 of the Act will apply to any financial promotions he may make.

7

the regulated activities that arise in connection with home reversion plans,7 home purchase plansand regulated sale and rent back agreements 7and any exclusions that may be relevant
the circumstances in which financial promotions about home reversion plans,7home purchase plansand regulated sale and rent back agreements 7may be made without breaching the restriction in section 21 of the Act

6PERG 15: Guidance on the scope of the Payment Services Regulations 2009

Any person with an establishment in the UK who needs to know whether the Payment Services Directive, as transposed in UK legislation by the Payment Services Regulations 2009, applies to him.

Q46 applies specifically to persons providing payment services from an establishment outside the EEA to persons located in the UK.

the scope of the PSD Regulations 2009.11

11PERG 16: Scope of the Alternative Investment Fund Managers Directive

any person who needs to know whether a collective investment undertaking is an AIF.

the scope of the regulated activities of managing an AIF and acting as trustee or depositary of an AIF.10

10PERG 17: Consumer credit debt counselling

Any person who needs to know whether his activities in relation to debts will amount to debt counselling.

The scope of the regulated activities relating to consumer credit debt counselling.

SUP 16.10.4AR01/10/2021

(1) A firm must submit any corrected firm details under SUP 16.10.4R(3) using the appropriate online systems accessible through the FCA’s website.1688138202020779(2) [deleted]1681312202020(3) Where a firm is obliged to submit corrected firm details13 online under (1), if the FCA's20 information technology systems fail and online submission is unavailable for 24 hours or more, until such time as facilities for online submission are restored, a firm must submit its corrected firm

SYSC 4.4.1AR07/12/2020

7(-2) 13This section applies to:(a) a limited scope SMCR firm other than:14(i) a firm in SUP 10C Annex 1 7.10R (Table: Limited scope SMCR firms to which no controlled functions apply); and14(ii) a limited scope SMCR benchmark firm; and14(b) an authorised professional firm that is a core SMCR firm. (-1) 13The application of this section is further limited by the rest of this rule.(1) 13This section applies to an authorised professional firm as follows: (a) it only applies in respect

EG 19.14.330/04/2021

1The Money Laundering Regulations add to the range of options available to the FCA for dealing with anti-money laundering and anti-terrorist financing 2 failures. These options include2:• to prosecute a relevant person, including but not limited to an 2authorised firm or3an 2Annex I financial institution3or an auction platform5, a cryptoasset exchange provider or a custodian wallet provider,4as well as any responsible officer2;2• to fine or censure a relevant person, including

PERG 8.21.5G01/07/2005

Where statements or briefings are only available to analysts who are, or who work for, authorised persons (including overseas persons who would need to be authorised if they were conducting their business in the United Kingdom), article 19 will exempt any financial promotion that may be made (see PERG 8.12.21 G). Furthermore, where a financial promotion is made in the course of an interactive dialogue with an analyst and is addressed to him, the financial promotion will be regarded

FIT 2.1.3G07/12/2020

The matters referred to in FIT 2.1.1 G to which the FCA5 will have regard, and to which a firm7 should also have regard, 5include, but are not limited to:556(1) whether the person has been convicted of any criminal offence; this must include, where provided for by the Rehabilitation Exceptions Orders4to2 the Rehabilitation of Offenders Act 1974 or the Rehabilitation of Offenders (Northern Ireland) Order 1978 (as applicable)4, any spent convictions2; particular consideration will

CONC 7.3.7AG26/11/2021

(1) 3If a customer is in default or in arrears difficulties, the firm should, where appropriate:(a) inform the customer that free and impartial debt advice is available from not-for-profit debt advice bodies; and(b) refer the customer to a not-for-profit debt advice body. (2) A firm may refer the customer to a not-for-profit debt advice body by, for example, providing the customer with a copy of the current arrears information sheet under section 86 of the CCA, or with the name

COLL 6.12.8G01/01/2021

Authorised fund managers6 are advised that when they applied for authorisation from the FCA under the Act, their ability to comply with the requirements in COLL 6.12.7 R would have been assessed by the FCA as an aspect of their fitness and properness in determining whether the threshold conditions set out in Schedule 6 (Threshold conditions) of the Act were met. Firms are further advised that their compliance with these requirements is subject to review by the FCA on an ongoing

Related provisions for PERG 7.4.13

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