This rule applies only to documents or information reasonably required by the FSA in connection with the performance of its functions in relation to a sponsor, a person applying for approval as a sponsor or a company that has appointed a sponsor.
- (1) 8
8the sponsor ceases to satisfy the criteria for approval as a sponsor set out in LR 8.6.5 R or becomes aware of any matter which, in its reasonable opinion, would be relevant to the FSA in considering whether the sponsor continues to comply with LR 8.6.6 R; or
8the sponsor becomes aware of any fact or circumstance relating to the sponsor or any of its employees engaged in the provision of sponsor services by the sponsor which, in its reasonable opinion, would be likely to adversely affect market confidence in the sponsor9 regime; or
- (2) 58
any of its employees engaged in the provision of8 sponsor services5 by the sponsor8 are disqualified by a court from acting as a director of a company or from acting in a management capacity or conducting the affairs of any company; or5
- (4) 58
the sponsor changes its name; or
- (9) 582
there is intended to be a change of control of the sponsor, any restructuring of the sponsor's group, or a re-organisation of or a substantial change to the directors, partners or employees engaged in the provision of sponsor services by the sponsor, or88
there is expected to be a change in the financial position of the sponsor or any of its group companies that would be likely to adversely affect the sponsor's ability to perform sponsor services or otherwise comply with LR 8.8
8Where a sponsor is of the opinion that notwithstanding the circumstances giving rise to a notification obligation under LR 8.7.8 R, it continues to satisfy the ongoing criteria for approval as a sponsor in accordance with LR 8.6.6 R, it must include in its notification to the FSA a statement to that effect and the basis for its opinion.
General notifications may be made in the first instance by telephone, but must be confirmed promptly in writing.
situations where the sponsor ceases to satisfy the ongoing criteria for approval as a sponsor in accordance with LR 8.6.6 R and, following a notification made under LR 8.7.8 R, there are no ongoing discussions with the FSA which could lead to the conclusion that the sponsor remains eligible; or
where there is a change of control of the sponsor or any restructuring of the sponsor's group that will result in sponsor services being provided by a different person, in which case the person that is intended to provide the sponsor services should apply for approval as a sponsor under LR 8.6 before it provides any sponsor services.
the sponsor's name;
a clear explanation of the background and reasons for the request;
the date on which the sponsor requests the cancellation to take effect;4
- (4) 8