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.

SUP 16.1 Application

SUP 16.1.1RRP

This chapter applies to every firm and qualifying parent undertaking within49 a category listed in column (2) of the table in SUP 16.1.3 R and in accordance with column (3) of that table.

34
SUP 16.1.1ADRP

22The directions and guidance in SUP 16.13 apply to a payment service provider as set out in that section44.

SUP 16.1.1AAG
SUP 16.1.1BDRP

27The directions and guidance in SUP 16.15 apply to electronic money issuers that are not credit institutions.

SUP 16.1.1CGRP

31The directions and guidance in SUP 16.18 apply for the following types of AIFM:

  1. (1)

    a small registered UK AIFM;

  2. (2)

    an above-threshold non-EEA AIFM marketing in the UK; and

  3. (3)

    a small non-EEA AIFM marketing in the UK.

SUP 16.1.1DD

35SUP 16.21 applies to a CBTL firm.

SUP 16.1.1EDRP

39The rules, directions and guidance in SUP 16.22 apply to a payment service provider located in the UK other than:

  1. (1)

    a credit union;

  2. (2)

    National Savings and Investments; and

  3. (3)

    the Bank of England.

SUP 16.1.1FR

50The rules and guidance in SUP 16.26 (Reporting of information about Directory persons) apply to an SMCR firm.

SUP 16.1.2GRP

35

51
  1. (1)

    Subject to (2) and (3)55, the50 only category of firm to which no section of this chapter applies is an ICVC.55

    505154
  2. (2)

    SUP 16.26 (Reporting of information about Directory persons) applies to a firm which is an SMCR firm (see SUP 16.1.1FR).50

  3. (3)

    55SUP 16.27 (General insurance value measures reporting) applies to the type of firms listed in SUP 16.1.3R.

SUP 16.1.2AG

55In SUP 16.1 a reference to Gibraltar-based firm in relation to SUP 16.27 (General insurance value measures reporting) has the same meaning as in the Gibraltar Order.

SUP 16.1.3RRP

Application of different sections of SUP 16 (excluding49 SUP 16.13, SUP 16.15, SUP 16.16, SUP 16.17, SUP 16.22 and56 SUP 16.2656)50534259393927

8889999

(1) Section(s)

(2) Categories of firm to which section applies

(3) Applicable rules and guidance

SUP 16.1, SUP 16.2 and SUP 16.3

All categories of firm except:

Entire sections

(a)

an ICVC;

(b)

[deleted]51

51

51

20

51

51

49

51

3

51

141439

51

39

51

(c)

[deleted]51

SUP 16.4 and SUP 16.52

All categories of firm except:

Entire sections

(-a)

a credit union;2

(a)

an ICVC;

(b)

[deleted]51

(c)

[deleted]51

(d)

a non-directive friendly society;

(e)4

[deleted]4

(f)

a sole trader;

(g)

a service company;

(h)

[deleted]51

88

(i)8

a firm with permission to carry on only retail investment activities;8

(ia)38

a firm with permission only to advise on P2P agreements (unless that activity is carried on exclusively with or for professional clients);38

(j)8

a firm with permission to carry on only insurance distribution activity52, home finance mediation activity,16 or both;8

16

(ja) 30

an FCA-authorised person with permission to carry on only credit-related regulated activity;

48(jb)

a firm with permission to carry on only regulated claims management activities;

(k)8

a firm falling within a combination of (i), (ia), (j), (ja) and (jb)48.

303830

46(l)

a firm with permission to carry on only the regulated activity of administering a benchmark;

SUP 16.6

Bank

27

SUP 16.6.4 R to SUP 16.6.5 R

41

41

36

41

41

2628

41

28

41

28

Depositary of an authorised fund41

SUP 16.6.6R to SUP 16.6.11R41

33SUP 16.7A

A firm subject to the requirement in SUP 16.7A.3 R or SUP 16.7A.5 R

Sections as relevant

SUP 16.8

Insurer with permission to effect or carry out life policies, unless it is a non-directive friendly society3

Entire section

3Firm with permission to establish, operate or wind up a personal pension scheme or a stakeholder pension scheme14

14

Entire section3

SUP 16.95

Firm with permission to advise on investments; arrange (bring about) deals in investments; make arrangements with a view to transactions in investments; or arrange safeguarding and administration of assets5

Entire section5

SUP 16.109

All categories of firm except:9

Entire section9

(a)9

an ICVC;9 and51

(b)9

[deleted]51

2142

(c)9

[deleted]42

219

21(d)

a dormant account fund operator.

32SUP 16.11

(1)

A firm, other than a managing agent, which is:

(a)

a home finance provider; or

Entire section

(b)

an insurer; or

Entire section

(c)

the operator of a regulated collective investment scheme or an investment trust savings scheme; or

Entire section

(d)

a person who issues or manages the relevant assets of the issuer of a structured capital-at-risk product; or

Entire section

(e)

a firm with permission to enter into a regulated credit agreement as lender in respect of high-cost short-term credit or home credit loan agreements; or

Entire section

(2)

a firm in whom the rights and obligations of the lender under a regulated mortgage contract are vested.

The provisions governing performance data reports in SUP 16.11 and SUP 16 Annex 21

17SUP 16.12

A firm undertaking the regulated activities as listed in SUP 16.12.4 R, unless exempted in SUP 16.12.1 G

Sections as relevant to regulated activities as listed in SUP 16.12.4 R23

232425SUP 16.14

A CASS large firm and a CASS medium firm

Entire section29

29SUP 16.18

A full-scope UK AIFM and a small authorised UK AIFM

SUP 16.8.3 R

34SUP 16.20

An IFPRU 730k firm and a qualifying parent undertaking that is required to send a recovery plan, a group recovery plan or information for a resolution plan to the FCA43

Entire Section

40SUP 16.23

A firm subject to the Money Laundering Regulations and within the scope of SUP 16.23.1R

Entire Section

47SUP 16.23A

A firm undertaking the regulated activities in SUP 16.23A.1R51

Entire section

43SUP 16.24

A firm with permission to effect or carry out contracts of insurance in relation to life and annuity contracts of insurance45 to the extent that the firm and its business falls within the scope of SUP 16.24.1R.

Entire Section

48SUP 16.25

A firm with permission to carry on regulated claims management activities.

Entire section

53SUP 16.27

A firm which, in respect of general insurance contracts, is:

Entire section

(a)

an insurer;

(b)

55a

55(i) TP firm which has temporary permission; or

55 (ii) a Gibraltar-based firm, treated as having permission,

to effect contract of insurance 55 including those providing services from an establishment outside the UK with a customer in the UK55;

(c)

a managing agent; or

(d)

an insurance intermediary,

to the extent that the firm and its business falls within the scope of SUP 16.27.7R.

27Note 2 50The application of SUP 16.13 is set out under SUP 16.13.1 G;59 the application of SUP 16.15 is set out under SUP 16.15.1 G; the application of SUP 16.16 is set out SUP 16.16.1 R and SUP 16.16.2 R the application of SUP 16.17 is set out in SUP 16.17.3 R and SUP 16.17.4 R59; and the application of SUP 16.26 is set out in SUP 16.26.1R50.

4359

29Note 3 50The application of SUP 16.18 for the types of AIFMs specified in SUP 16.1.1C G is set out in SUP 16.18.2 G.

43
SUP 16.1.4GRP
  1. (1)

    This chapter contains requirements to report to the FCA37 on a regular basis. These requirements include reports relating to a firm's financial condition, and to its compliance with other rules and requirements which apply to the firm. Where the relevant requirements are set out in another section of the Handbook, this chapter contains cross references. An example of this is financial reporting for insurers and friendly societies.

    5959
  2. (2)

    Where such requirements already apply to a firm under legislation other than the Act, they are not referred to in this chapter. An example of this is reporting to the FCA37 by building societies under those parts of the Building Societies Act 1986 which have not been repealed.

    5959
  3. (3)

    Requirements for individual firms reflect:

    1. (a)

      the category of firm;

    2. (b)

      the nature of business carried on;

    3. (c)

      whether a firm has its registered office (or if it does not have a registered office, its head office) in the United Kingdom; 17and51

    4. (d)

      [deleted]51

      1717
    5. (e)

      the regulated activities the firm undertakes.17

SUP 16.1.5G

[deleted]19

19
SUP 16.1.6G

[deleted]19

19
SUP 16.1.7GRP

59Where a PRA-authorised person is required to notify or provide any information to (a) the FCA37 by a PRA Handbook provision and (b) the FCA by the equivalent provision in the FCA Handbook, the PRA-authorised person is expected to comply with both provisions.