The Society must establish and maintain effective arrangements to monitor and manage risk arising from:
Status: Please note you should read all Brexit changes to the FCA Handbook and BTS alongside the main FCA transitional directions. Where these directions apply the 'standstill', firms have the choice between complying with the pre-IP completion day rules, or the post-IP completion day rules. To see a full list of Handbook modules affected, please see Annex B to the main FCA transitional directions.
a description of the consultation undertaken under INSPRU 8.2.26 R including a summary of any significant responses to that consultation.
The rules and guidance in this section1 are intended to promote confidence in the market at Lloyd's, and to protect certain consumers of services provided by the Society in carrying on, or in connection with or for the purposes of, its regulated activities. They do this by ensuring that the Society appropriately and effectively regulates the capacity transfer market so that it operates in a fair and transparent manner.1
ensure that adequate and effective arrangements are in place to enable members and persons applying to be admitted as members to enter into transactions to transfer syndicate capacity and settle these transactions in a timely manner;
prohibit unfair and abusive practices (including market manipulation), the misuse of information not generally available, and the dissemination of false or misleading information.
The report referred to in (1) must reach the FCA within one month of the end of the relevant calendar quarter and must include information on:
the number, and nature, of all complaints received during the quarter about the operation of the capacity transfer market.