[Editor’s note: The text of this provision has been moved to SYSC 25 Annex 1G]4
Related provisions for SUP 15.14.4
21 - 40 of 47 items.
An eligible complainant must be a person that is:127(1) a consumer3; or193(2) a
micro-enterprise3
;3(a) 3in relation to a complaint relating wholly or partly to payment services, either at the time of the conclusion of the payment service contract or at the time the complainant refers the complaint to the respondent; or(b) otherwise, at the time the complainant refers the complaint to the respondent; or19(3) a charity which has an annual income of less than £6.519 million at
To be an eligible complainant a person must also have a complaint which arises from matters relevant to one or more of the following relationships with the respondent:127(1) the complainant is (or was) a customer,629payment service user3
or electronic money holder629 of the respondent;(2) the complainant is (or was) a potential customer,629payment service user3
or electronic money holder629 of the respondent;(2A) the complainant is (or was) a payer in a payment transaction in
(1) Subject to (2), (3) and (4), a firm must provide a consumer with the distance marketing information (CONC 2 Annex 1R) in good time before the consumer is bound by a distance contract or offer.[Note: regulation 7(1) of SI 2004/2095][Note: articles 3(1) and 4(5) of the Distance Marketing Directive](2) Where a distance contract is also a contract for payment services to which the Payment Services Regulations apply, a firm is required to provide to the consumer only the information
Where a distance contract covers both payment services and non-payment services, the exception in CONC 2.7.2R (2) applies only to the payment services aspects of the contract. A firm taking advantage of this exception will need to comply with the information requirements in Part 63 of the Payment Services Regulations.
DISP 2.5.1R(2)(c)17 includes complaints about the EEA end of 'one leg' payment services transactions, i.e. services provided from EEA establishments that are subject to the territorial jurisdiction of the Voluntary Jurisdiction (see DISP 2.6.4R (2)) that also involve a payment service provider located outside the EEA. It also includes complaints about payment services irrespective of the currency of the transaction.6
The following rules and guidance apply to VJ participants as part of the standard terms, except where the context requires otherwise:(1) DISP 1 (Treating complainants4fairly), except:4(a) DISP 1.94(Complaints record rule);4(b) DISP 1.104(Complaints reporting rules);84(ba) DISP 1.10A (Complaints data publication rules); 98(bb) DISP 1.10B (Payment services and electronic money complaints reporting); and9(c) DISP 1.114(Lloyd's);4(d) DISP 1.1A (Complaints handling requirements for
7Payment service providers are required to provide the FCA with such information as the FCA may direct in respect of their provision of payment services or compliance with the requirements imposed by or under Parts 2 to 7 or regulation 105 of the Payment Services Regulations. The purpose of SUP 15.8 is to request information from full credit institutions where they provide (or propose to provide) account information services or payment initiation services. In addition to this
1When determining whether to suspend the authorisation or, as the case may be, the registration of an electronic money
institution or limit or otherwise restrict the carrying on of electronic money issuance or payments services business by an electronic money
issuer the FCA's
policy will have regard to the relevant factors in DEPP 6A.
(1) 1This rule deals with the calculation of:(a) a firm'sgeneral levy in the 12 months ending on the 31 March in which it obtains permission, or was authorised under the Payment Services Regulations or the Electronic Money Regulations4or had its permission and/or payment services activities extended (relevant permissions)3 and the following 12 months ending on the 31 March;3 and33(b) the tariff base for the industry blocks that relate to each of the relevant permissions3.3(2)
Contracts, under which the amount and timing of the payments made by the recipient make it reasonable to conclude that there is a genuine pre-payment for services to be rendered in response to a future contingency, are unlikely to be regarded as insurance. In general, the FCA expects that this requirement will be satisfied where there is a commercially reasonable and objectively justifiable relationship between the amount of the payment and the cost of providing the contract
Fees for applications and notifications16 under the Payment Services Regulations are set out in FEES 3 Annex 8R . The fee depends on the type of payment services a firm wishes to provide and whether it will be a small payment institution or an authorised payment institution. The fee may also depend on the number of agents it has.4
Table 1: CRD activities6 6 |
Part II RAO Activities |
Part III RAO Investments |
|
1. |
Taking6 deposits and other repayable funds from the public 6 |
Article 5 |
Article 74 |
2. |
Lending |
Article 61, 64 |
Article 88 |
3. |
Financial leasing |
||
4. |
Money transmission services |
||
5. |
Issuing and administering means of payment (eg credit cards, travellers' cheques and bankers' drafts) |
||
6. |
Guarantees and commitments |
||
7. |
Trading for own account or for account of customers in: (a) money market instruments (b) foreign exchange (c) financial futures and options (d) exchange and interest rate instruments (e) transferable securities |
Article 14, 21, 25 (see Note 1), 64 Article 14, 21, 25, 64 Article 14, 21, 25, 64 Article 14, 21, 25, 64 Article 14, 21, 25, 64 |
Article 77, 78, 80, 83-85, 89 Article 83-85, 89 Article 83-85, 89 Article 83-85, 89 Article 76-81, 89 |
8. |
Participation in share issues and the provision of services relating to such issues |
Article 14, 21, 25, 53(1)10, 64 |
Article 76-81, 89 |
9. |
Advice to undertakings on capital structure, industrial strategy and related questions and advice and services relating to mergers and the purchase of undertakings |
Article 14, 21, 25, 53(1)10, 64 |
Article 76-80, 83-85, 89 |
10. |
Money broking |
Article 25, 64 |
Article 77, 78, 89 |
11. |
Portfolio management and advice |
Article 14, 21, 25, 37, 53(1)10, 64 |
Article 76-81, 83-85, 89 |
12. |
Safekeeping and administration of securities |
Article 40, 45, 64 |
Article 76-81, 83-85, 89 |
13. |
Credit reference services |
||
14. |
Safe custody services |
1 | 16 | 1
615. |
Issuing electric money |
Article 9B |
Article 74A |
3Note 12: The services and activities provided for in Sections A and B of Annex I of MiFID when referring to the financial instruments provided for in Section C of Annex I of that Directive are subject to mutual recognition according to the CRD from 1 January 2013.6See2 the table at SUP App 3.9.5 G below for mapping of MiFIDinvestment services and activities.For further details relating to this residual category, please see the "CRD"6section of the passporting forms entitled "Notification of intention to establish a branch in another EEA State" and "Notification of intention to provide cross border services in another EEA State".2 266 |
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