Related provisions for SUP 16.8.17
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Example of calculation of persistency rate for life policies that commenced during 1996 (see SUP 16.8.3 R)1Y (year of reporting)Number of life policies which commenced during 1996Number of 1996 policies that cease to be in force during Y-1Deaths and retirements (not included in CC and CF)CF CC 1998100014321000 - 143 - 2 = 8551000 - 2 = 998199910002511000 - 143 - 25 - 2 - 1 = 8291000 - 2 - 1 = 997Report submitted in 1998 Persistency rate for life policies that commenced during
1Subject to SUP 16.8.17 R and SUP 16.8.18 R, a life policy or stakeholder pension must be treated as in force at the end of Y-1 (that is, included in CF) if and only if:(1) in the case of a regular premium life policy: (a) in the case of an industrial assurance policy on which the premiums are paid at intervals of four weeks, the premium has been paid in respect of the four-week period in which the policy anniversary falls; or(b) in any other case, the premium has been paid in
Unless a firm is listed in the table below, this section does not apply to it where both of the following conditions are satisfied:(1) the firm has reported total revenue of less than £5 million as at its last accounting reference date; and(2) the firm only has permission to carry on one or more of the following activities:(a) advising on investments;(b) dealing in investments as agent;(c) dealing in investments as principal;(d) arranging (bringing about deals) in investments;(e)
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