CONRED Sch 2 Notification requirements

1CONRED 2.4.9R

Information on the total number of scheme cases; opted-in scheme cases, and investments in Arch cru funds

(1) total number of scheme cases;

(2) The number of such investments resulting from the regulated activities for a customer in CONRED 2.1.3R; and the number of such investments falling outside the scheme with an explanation of the reason why, in each case;

(3) the total number of opted-in scheme cases.

None: notification required in all cases

Until 29 July 2013

CONRED 2.9.2R

Information on the number of opted-in scheme cases; completed and incomplete templates and the results of such; the total number of redress cases; the total number of redress determinations sent to consumers; the total number of consumers paid redress and the amount of such; and the total amount of redress unpaid to date.

(1) the total number of opted-in scheme cases;

(2) the total number of completed templates;

(3) the total number of incomplete templates, with an explanation as to why the templates have not been completed;

(4) the total number of redress cases;

(5) the total number of redress determinations sent to consumers;

(6) the total number of consumers paid redress to date;

(7) the total amount of redress paid to date; and

(8) the total amount of redress unpaid to date.

None: notification required in all cases

Until 9 December 2013

CONRED 3.2.7R(1), (1A) and (4)

Outcome of the financial resilience assessment in CONRED 3.2.2R

Outcome of the financial resilience assessment in CONRED 3.2.2R

Before the end of 27 May 2022 or 28 February 2023, and immediately if the outcome changes

CONRED 3.2.7R(7)

That N and CL, as calculated under CONRED 3.2.4AR and CONRED 3.2.6AR, are both zero

That N and CL, as calculated under CONRED 3.2.4AR and CONRED 3.2.6AR, are both zero

Promptly

CONRED 3.3.6R

Where the firm wishes to obtain prior express consent from the FCA for payment of dividends or LLP members drawings

(a)

the value of the proposed dividend(s);

In advance (express consent required)

(b)

the date on which the firm intends to pay the proposed dividend(s);

(c)

the recipients of the proposed dividend(s);

(d)

a clear statement of the quantified effect of the payment of the proposed dividend(s) on the firm’s regulatory capital position;

(e)

a copy of the firm’s latest management accounts;

(f)

an express confirmation that the payment of the proposed dividend(s) is lawful under applicable company or partnership law and insolvency law;

(g)

demonstration that the dividend(s) will be paid in connection with services provided for or on behalf of the firm by a natural person; and

(h)

demonstration that the timing of the proposed payment and the value of the dividend(s) are consistent with the historical pattern of the payment of dividends for equivalent purposes over the immediately preceding 12 months.

CONRED 3.3.10R

Transactions in the ordinary course of business which do not fall within CONRED 3.3.5R

Any contract change with connected persons which could result in payments above the de minimis threshold

(a)

an explanation of the transaction or contract change;

At least 15 business days in advance, unless urgent situation

(b)

an explanation of the quantifiable impact on the firm’s financial resilience assessment under CONRED 3.2.2R;

(c)

an explanation of why the firm considers that the transaction or contract change occurs in the ordinary course of business and is therefore permitted;

(d)

reference to any comparable historic payments or contract changes which support the firm’s view that this occurs in the ordinary course of business; and

(e)

in the case of a notification on an urgent basis under CONRED 3.3.10R(2), an explanation of the nature of the urgency and why it has not been possible to comply with the normal 15-business day notification requirement in CONRED 3.3.10R(1).

CONRED 4.8.2R(1) and (2) and CONRED 4.8.3R

Information about each case the firm has taken scheme steps for

(1)

consumer identifier;

By 1 month after the scheme effective date and then every 2 weeks

(2)

the date the letter at CONRED 4 Annex 2R was sent;

(3)

whether the consumer receiving the letter in (2) has opted out of the scheme and the date a firm received notification from the consumer of their decision to opt-out;

(4)

where the firm has carried out the case review at CONRED 4.3.2R:

(a)

the date the case review was completed;

(b)

a copy of the completed FCA or BSPS DBAAT;

(c)

whether the scheme case was rated suitable, unsuitable or ‘non-compliant due to a material information gap(s)’ or ‘not-compliant-unclear’ (in the case of the FCA DBAAT);

(d)

for scheme cases rated as unsuitable, the result of the causation assessment;

(5)

in a case where a firm has concluded that the advice was suitable:

(a)

the date a firm sent the letter at CONRED 4 Annex 9R;

(b)

the consumer’s name, address, telephone number(s) and, where available, email address (in the BSPS DBAAT or, where using an FCA DBAAT, in the Reg Data report);

(c)

whether a firm is aware that the consumer has complained to the Financial Ombudsman Service about the determination communicated in (a);

(d)

the date a firm became aware of any complaint in (c); and

(e)

the outcome of the complaint (both suitability and causation as applicable) as notified to the firm by the Financial Ombudsman Service in accordance with DISP 3.6.6R(5);

(6)

in a case where a firm has concluded that the advice was unsuitable and answered ‘no’ to the causation question, the date a firm sent the letter at CONRED 4 Annex 8R;

(7)

in a case where a firm has concluded that the advice was unsuitable and answered ‘yes’ to the causation question the date a firm sent the letters at:

(a)

CONRED 4 Annex 7R; and

(b)

CONRED 4 Annex 10R;

(8)

where a firm has completed the redress assessment as required by CONRED 4.4.2R, the following in respect of the latest offer of redress made pursuant to the consumer redress scheme created by this chapter:

(a)

the date on which the redress calculation was completed;

(b)

the redress amount rounded to the nearest pound sterling;

(c)

the date the letter at CONRED 4 Annex 13R was sent to the consumer;

(d)

a copy of the redress calculation from the BSPS calculator;

(e)

whether the consumer has accepted the offer of redress in (c); and

(f)

the date on which any redress was paid.

CONRED 4.8.2R(3) and CONRED 4.8.4R

Information about BSPS cases excluded from the scheme, consumer opt outs

(1)

the number of cases in relation to which a firm has sent a consumer a letter pursuant to:

By 6 weeks after the scheme effective date

(a)

CONRED 4 Annex 1R;

(b)

CONRED 4 Annex 2R; and

(2)

in respect of (1)(a), a breakdown of the reasons such cases were excluded from the scheme with reference to the relevant condition or conditions at CONRED 4.2.2R.