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FCA Handbook
MIPRU
MIPRU 2
MIPRU 2.1 Application and purpose

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R Rules

G Guidance

Legal Instruments

Deleted

MIPRU 2.1 Application and purpose

Application

MIPRU 2.1.1 R 01/10/2018

1This chapter applies to a firm with Part 4A permission to carry on insurance distribution activity 3 or MCD credit intermediation activity.2

Purpose

MIPRU 2.1.2 G 01/10/2018

The main purpose of this chapter is to implement in part the provisions of the IDD 3 and the MCD 2 3.

MIPRU 2.2 4Allocation of the responsibility for insurance distribution activity or MCD credit intermediation activity

4Responsibility for insurance distribution activity or MCD credit intermediation activity

MIPRU 2.2.1 R 01/10/2018

A firm 3, other than a sole trader, must allocate the responsibility for the firm's insurance distribution activity 6 or MCD credit intermediation activity 4 to a director or senior manager.

3

[Note: article 3(1), eighth paragraph of the IDD 6 and article 29(4)(a), first sentence, of the MCD.4]

1 1

MIPRU 2.2.2 R 10/12/2018

6 5 4 5

[deleted]7

MIPRU 2.2.3 G 10/12/2018

[deleted]7

MIPRU 2.2.4 G 01/10/2018

Where a firm has appointed an appointed representative to carry on insurance mediation activity or MCD credit intermediation activity 4 on its behalf, the person responsible for the firm's insurance mediation activity or MCD credit intermediation activity 4 will also be responsible for the insurance distribution activity 6 or MCD credit intermediation activity 4 carried on by an appointed representative.

MIPRU 2.2.5 G 01/10/2018

The FCA will specify in the Financial Services Register the name of the persons to whom the responsibility for the firm's insurance distribution activity 6 or MCD credit intermediation activity 4 has been allocated. by inserting after the relevant controlled function the words "(insurance distribution6)" or “(MCD intermediation)”.4 In the case of a sole trader, the FCA will specify in the Financial Services Register the name of the sole trader as the 'contact person' in the firm.

MIPRU 2.3 Knowledge, ability and good repute [deleted]6

6