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GEN 4 Annex 1 Statutory status disclosure

R

This rule applies to firms that are not PRA-authorised persons:

Type of firm

Required disclosure (Note 5)

(1)

UK domestic firm; or overseas firm (which is not an incoming firm)

"Authorised and regulated by the Financial Conduct Authority" (Note 1)4

4

(2)

Incoming firm without a top-up permission

(a) 2"Authorised by [name of Home State regulator]

or 2

(b) "Authorised by [name of Home State regulator] and subject to limited regulation by the Financial Conduct Authority. Details about the extent of our regulation by the Financial Conduct Authority are available from us on request"4

(Notes 1, 2, 2a and 3)2

4

(3)

Incoming firm with a top-up permission

"Authorised by [name of Home State regulator] and authorised and subject to limited regulation by the Financial Conduct Authority. Details about the extent of our authorisation and regulation by the Financial Conduct Authority are available from us on request"4

(Notes 1, 2 and 3)

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(4)

Appointed representative of a firm

"[Name ofappointed representative] is an appointed representative of [name of firm] which is [then continue with the required disclosure of the firm]"

(Note 4)

4

Note 1 = A firm must use the formulation "Financial Conduct Authority" and not the abbreviated formulation "FCA".4

Note 2 = An incoming firm is free to translate the name of its Home State regulator into English if it wishes. In doing so, it must ensure that the State in which the regulator is based is clear.

Note 2a = An incoming firm without a top-up permission may make either disclosure (a) or disclosure (b) unless it otherwise indicates or implies to the customer that it is regulated or supervised by the FCA4, in which case it must make disclosure (b).2

Note 3 = If a firm offers to make details about the extent of its authorisation or regulation by the FCA4 available on request and a customer requests such details, it must provide those details in a way that is clear, fair and not misleading.2

Note 4 = If the appointed representative has more than oneprincipal, the disclosure must relate to the principal or principals responsible for the regulated activity or activities concerned. The required disclosure of the firm is that which would apply were the firm to make the disclosure under the rules applicable to it.4

Note 5 = Any firm listed in this table is permitted to add words to the relevant required disclosure statement but only if the firm has taken reasonable steps to satisfy itself that the presentation of its statutory status will, as a consequence, be 3fair, clear and not misleading1 and be likely to be understood by the average member of the group to whom it is directed or by whom it is likely to be received2. For example, an authorised professional firm may wish to make it clear that it is also regulated by its professional body.

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