Related provisions for CASS 7.13.56
101 - 120 of 290 items.
[Editor’s note: The text of this provision has been moved to SYSC 25 Annex 1G]4
Where the borrowing rate under an MCD regulated mortgage contract is variable, the MCD mortgage lender must:(1) ensure that any index or reference rate used to calculate that rate is clear, accessible, objective and verifiable by the parties to the MCD regulated mortgage contract and the FCA; and(2) keep a record of the index or reference rate used to calculate that rate for as long as the MCD regulated mortgage contract remains outstanding.[Note: article 24 of the MCD]
The fact of a person holding a certificate granted under article 54(3) is information which may be of relevance to other persons (including investors or potential investors). For this reason, the FCA considers it appropriate that details of certificates granted under article 54(3) should be included in a list on the public record which the FCA is required to maintain under section 347 of the Act (The record of authorised persons, etc).
(1) 714Subject to (2) and (3) (where applicable), a qualified investor scheme may invest in units in a scheme (a ‘second scheme’) only if the second scheme is:7(a) a regulated collective investment scheme; or7(b) a scheme not within (a) where the authorised fund manager has taken reasonable care to determine that:7(i) it is the subject of an independent annual audit conducted in accordance with international standards on auditing;7(ii) the calculation of the net asset value of
(1) 4The authorised fund manager may transfer capital and income between an intermediate holding vehicle and the scheme by the use of inter-company debt if the purpose of this is for investment in immovables and repatriation of income generated by such investment. In using inter-company debt, the authorised fund manager should ensure the following:(a) a record of inter-company debt is kept in order to provide an accurate audit trail; and(b) interest paid out on the debt instruments
The complaints management policy should be set out in a written document e.g. as part of a general fair treatment policy. It should be made available to all relevant staff of the firm through appropriate internal channels.
[Note: guideline 1(b) and (c) of the Joint Committee Final Report on guidelines for complaints-handling for the securities (ESMA) and banking (EBA) sectors, 27 May 2014, JC 2014 43.2]
1In order to comply with SUP 16.8.23 R, a firm will as a minimum need to make and retain separate records for:(1) life policies and stakeholder pensions originally promoted: (a) by company9representatives; or(b) by intermediaries providing independent advice or restricted advice; or99(c) through the firm's own direct offer financial promotions;9(d) [deleted]99(2) life policies and stakeholder pensions not within (1), including those effected as execution-only transactions, for10
(1) The policies and procedures referred to in the overall financial adequacy rule and BIPRU 1.2.27 R must be recorded in a single written document. A firm may record those policies and procedures in more than one written document if the firm has a single written document that identifies:(a) all those other documents; and(b) the parts of those documents that record those policies and procedures.(2) A trading book policy statement means the single document referred to in this
There is likely to be an overlap between what the trading book policy statement should contain and other documents such as dealing or treasury manuals. A cross reference to the latter in the trading book policy statement is adequate and material in other documents need not be set out again in the trading book policy statement. However where this is the case the matters required to be included in the trading book policy statement should be readily identifiable.
Senior conduct rules staff members will not always manage the business on a day-to-day basis themselves. The extent to which they do so will depend on a number of factors, including the nature, scale and complexity of the business and their position within it. The larger and more complex the business, the greater the need for clear and effective delegation and reporting lines, which may involve documenting the scope of that delegation and the reporting lines in writing. The FCA
(1) If a senior conduct rules staff member comes across a piece of information that is something of3 which they think the FCA or PRA could reasonably expect notice, they should determine whether that information falls within the scope of their responsibilities.5 For an SMF manager those responsibilities will be set out in that person’sstatement of responsibilities.52(2) If it does, then they should ensure that, if it is otherwise appropriate to do so, it is disclosed to the appropriate
(1) Winding up or termination must commence once the conditions referred to in COLL 7.3.4 R (3) are both satisfied or, if later, once the events in COLL 7.3.4 R (4) have occurred. (2) Once winding up or termination has commenced: (a) COLL 6.2 (Dealing), COLL 6.3 (Valuation and pricing), COLL 6.6.20R to COLL 6.6.24G (Assessment of value)7 and COLL 5 (Investment and borrowing powers) cease to apply to the ICVC or to the units and scheme property in the case of a sub-fund; (b)
(1) [deleted]44(2) The ACD must, as soon as practicable after winding up or termination has commenced, cause the scheme property to be realised and the liabilities of the ICVC or the sub-fund to be met out of the proceeds.(3) The ACD must instruct the depositary how such proceeds (until utilised to meet liabilities or make distributions to unitholders) must be held and those instructions must be prepared with a view to the prudent protection of creditors and unitholders against
A firm2must keep a record of the disclosures and warnings made to the SRB agreement seller under MCOB 5.9.1 R for a period of:2(1) one year2 after the end of the fixed term of the tenancy under the regulated sale and rent back agreement; or222(2) five years from the date of the disclosures and warnings;whichever is the longer.
(1) 2A SRB intermediary must for each regulated sale and rent back agreement in relation to which it carries on regulated sale and rent back mediation activity keep a record of the contact details of the provider that enters into or is proposed to enter into the agreement, making it clear whether the provider is a SRB agreement provider or an unauthorised SRB agreement provider.(2) The record in (1) must be retained for a period of one year, or one year from the end of the fixed
A firm must have sound internal standards for situations where comparison of actual equity exposure returns with the models' estimates calls the validity of the estimates or of the models as such into question. These standards must take account of business cycles and similar systematic variability in equity exposure returns. All adjustments made to internal models in response to model reviews must be documented and consistent with the firm's model review standards.[Note:BCD Annex
To demonstrate that the issuer and the proposed owner will comply with Regulation 17, and Regulations 23 and 24 of the RCB Regulations (capability of the asset pool to cover claims), the issuer should set out what it considers to be the risks of the regulation not being complied with and show how those risks have been adequately mitigated by reference to the tests and provisions set out in the covered bond or programme documentation.
(1) The FCA expects the report from the accountants to address at least the following matters:(a) that the level of over collateralisation meets the limits set out in the covered bond arrangements which are designed to ensure compliance with the requirement that the asset pool is capable of covering claims attaching to the bond in Regulation 17 (requirements on issuer in relation to the asset pool) of the RCB Regulations; and(b) that appropriate due diligence procedures (which
(1) 2If a firm has not entered into a contract with a customer, and is satisfied on reasonable grounds that it is unlikely to do so, CONC 8.3.4R applies in relation to that customer as if the words “is provided in a durable medium and” were omitted.(2) The firm must keep a record of the grounds in (1).
(1) 2Firms must provide advice in a durable medium, unless CONC 8.3.4AR applies. Where questions over the application of that exemption may arise, for example, in relation to advice given to a customer at an initial meeting or telephone call, the following considerations may be relevant:(a) if a firm never charges for advice and never enters into contracts with customers for debt solutions, CONC 8.3.4AR may remove the requirement to provide advice to the customer in a durable
(1) 2Where a regulated credit agreement or a P2P agreement does not incorporate the terms of a continuous payment authority, CONC 7.6.2AR enables a continuous payment authority to be put in place (for example, for a repayment plan) without necessarily requiring an amendment to the agreement. But CONC 7.6.2AR applies only where the customer is in arrears or default, and the creation of the continuous payment authority supports the fair treatment of the customer and facilitates
(1) CONC 7.6.12 R, CONC 7.6.13 R and CONC 7.6.14 R do not prevent a firm accepting payment (including a part payment) from a customer using a means of payment other than under a continuous payment authority. If, for example, a customer consents separately that a single payment of a specified amount may be taken on the same day or on another specified day using his or her debit card details, this is excluded from the definition of continuous payment authority.(2) CONC 7.6.14 R
For the purposes of DISP 1.10.2R, DISP 1.10.2-AR13, DISP 1.10.2AR, DISP 1.10.2BR and DISP 1.10.2CR,14 when completing the return, the firm should take into account the following matters.10618413(1) If a complaint could fall into more than one category, the complaint should be recorded in the category which the firm considers to form the main part of the complaint.10(2) Under DISP 1.10.2R(1)(b), DISP 1.10.2R(2)(b), DISP 1.10.2-AR, DISP 1.10.2BR(2) or DISP 1.10.2CR(2),14 a firm
For the purpose of inclusion in the public record maintained by the FCA, a firm must:10(1) provide the FCA, at the time of its authorisation, with details of a single contact point within the firm for complainants; and10(2) notify the
FCA
of any subsequent change in those details when convenient and, at the latest, in the firm's next report under the complaints reporting rules.10
A depositary appointed under COLL 6.6A.8R(3) must: (1) ensure that it has the infrastructure necessary to keep in custody UCITS custodial assets that can be registered in a financial instruments account opened in the depositary’s books; (2) establish adequate policies and procedures sufficient to ensure the compliance of the depositary, including its managers and employees, with its obligations under the regulatory system; (3) have: (a) sound administrative and accounting procedures
The depositary must, for UCITS schemeproperty other than UCITS custodial assets:(1) verify that the UCITS scheme or the authorised fund manager, acting on behalf of the scheme, is the owner of the assets based: (a) on information or documents provided by the authorised fund manager; and(b) where available, on external evidence; and(2) maintain, and keep up to date, a record of those assets for which it is satisfied that the UCITS scheme or the authorised fund manager, acting on