Related provisions for BIPRU 2.3.11

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EG 3.3.1RP
1Under section 166 of the Act, the FCA has a power to require a firm and certain other persons to provide a report by a skilled person, or itself to appoint a skilled person to produce such a report. The FCA may use its section 166 power to require reports by skilled persons to support both its supervision and enforcement functions.
DEPP 8.5.1GRP
1The effects of breaching a condition or time limitation are set out in SUP 10C and DEPP 6.2.9A.
EG 4.9.1RP
1A clear division between the conduct of the investigation2 the ongoing supervision of the firm means that clarity as to who is carrying out what work in important, so that the focus on the various needs of the investigation and supervisory function are not lost. It is also important that the investigation can2 benefit2 from the knowledge of the firm or individuals that the supervisors will have built up, or from their general understanding of the firm's business or sector. In
EG 3.8.1RP
1The FCA may use its section 131E power to require information and documents from natural or legal persons to support both its monitoring and its enforcement functions.
EG 4.12.2RP
2A warrant obtained pursuant to sections 176 and 122D1 of the Act authorises a police constable or an FCA investigator in the company, and under the supervision of, a police constable, to do the following, amongst other things: to enter and search the premises specified in the warrant and take possession of any documents or information appearing to be documents or information of a kind in respect of which the warrant was issued or to take, in relation to any such documents or
MAR 9.4.2GRP
1The FCA will use a variety of tools to monitor whether a data reporting services provider complies with its regulatory requirements. These tools include (but are not limited to):(1) desk-based reviews; (2) liaison with other regulators; (3) meetings with management and other representatives of a data reporting services provider; (4) on-site visits; (5) use of auditors; (6) use of a skilled person;(7) reviews and analysis of periodic returns and notifications; (8) transaction
EG 2.7.1RP
1The FCA may be alerted to possible contraventions or breaches by complaints from the public or firms, by referrals from other authorities or through its own enquiries and supervisory activities. Firms may also bring their own contraventions to the FCA's attention, as they are obliged to do under Principle 11 of the Principles for Businesses and rules in the FCA's Supervision manual.
REC 6.1.2GRP
Having the status of an ROIE2 facilitates the participation of overseas investment exchanges in UKmarkets. In comparison with authorisation, it reduces the involvement which UK authorities need to have in the day-to-day affairs of an overseas recognised body because they are able to rely substantially on the supervisory and regulatory arrangements in the country where the applicant's head office is situated.22
REC 4.9.2GRP
(1) Under section 192K of the Act, if the FCA considers that a qualifying parent undertaking of a UK RIE has contravened a requirement of a direction given by the FCA under section 192C of the Act, or a provision of rules made by the FCA under section 192J of the Act, it may:(a) impose a penalty of such amount as it considers appropriate on the qualifying parent undertaking of the UK RIE, or any person who was knowingly concerned in the contravention; or(b) publish a statement
EG 19.18.2RP
1The FCA is responsible for monitoring and enforcing compliance with requirements imposed by the Treasury under the Counter Terrorism Act by ‘credit institutions’ that are authorised persons and by ‘financial institutions’ (except money service businesses that are not authorised persons and consumer credit financial institutions). ‘Credit institutions’ and ‘financial institutions’ are defined in Part 2 of Schedule 7 to the Counter Terrorism Act.
MAR 6.4.2GRP
The notification under MAR 6.4.1 R can be addressed to the firm's usual supervisory contact at the FCA .
SUP 3.5.4GRP
The appropriate regulator will regard an auditor as independent if his appointment or retention does not breach the ethical guidance in current issue from the auditor's recognised supervisory body on the appointment of an auditor in circumstances which could give rise to conflicts of interest.
REC 6.8.1GRP
The FCA1 has similar powers to supervise ROIEs1 to those it has to supervise UK RIEs1. It may (in addition to any other powers it might exercise):111(1) give directions to an ROIE1 under section 296 of the Act (Authority's power to give directions) if it has failed, or is likely to fail, to satisfy the recognition requirements or if it has failed to comply with any other obligation imposed by or under the Act; or1(2) revoke a recognition order under section 297 of the Act (Revoking
EG 3.2A.1RP
1The FCA may use its section 122A power to require information and documents from an issuer, a person discharging managerial responsibilities or a person closely associated with a person discharging managerial responsibilities to support its supervisory and its enforcement functions, including those under the Market Abuse Regulation2.
TC 1.1.3GRP
The competent employees rule is the main4 requirement relating to the competence of employees. The purpose of this sourcebook is to support the FCA's supervisory function by supplementing the competent employees rule for retail activities.
DEPP 8.3.1GRP
1Examples of situations where the FCA may use the own-initiative variation of approval power include where:(1) it has concerns about an SMF manager’s fitness to remain approved in relation to the performance of a designated senior management function but, in all the circumstances, it considers it appropriate to vary their approval by imposing one or more conditions or a time limitation, rather than making a prohibition order or withdrawing approval;(2) the nature or scope of the
SUP 8.9.2GRP
1If the appropriate regulator2, in the course of carrying on supplementary supervision of a financial conglomerate, is considering exercising its powers under section 138A2 of the Act (Modification or waiver of rules), regulation 4 of the Financial Groups Directive Regulations contains special provisions. The appropriate regulator2 must, in broad terms, do two things. Where required by those regulations, it must obtain the consent of the relevant competent authorities of the group.
SUP 7.1.4GRP
The FCA2, in the course of its supervision of a firm, may sometimes judge it necessary or desirable to impose additional requirements on a firm or in some way amend or restrict the activities which the firm has permission to undertake. The guidance in this chapter describes when and how the FCA2 will seek to do this.22
REC 5.2.3GRP
An application should:(1) be made in accordance with any directions the FCA5 may make under section 287 (Application by an investment exchange) of the Act or (for RAPs) regulation 2 of the RAP regulations7;5335563(2) in the case of an application under section5 287 of the Act, 3be accompanied by the applicant's regulatory provisions and in the case of an application under section 287 of the Act information required pursuant to sub-sections 287(3)(c), (d) and (e) of the Act (see
REC 5.2.12GRP
Where the FCA5 considers that it is unlikely to make a recognition order it will discuss its concerns with the applicant as early as possible with a view to enabling the applicant to make changes to its rules or guidance, or other parts of the application (see REC 5.2.7 G). If the FCA5 decides that it will not make a recognition order, it will follow the procedure set out in section 298 of the Act (Directions and revocation: procedure) or (in the case of a RAP) regulation 5 of