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Status: You are viewing the version of the handbook as on 2015-11-02.

SUP 5.1 Application and purpose


SUP 5.1.1RRP
  1. (1)

    1This chapter applies to every firm.

  2. (2)

    The rules, and the guidance on rules in SUP 5.5 (Duties of firms), do not apply to a UCITS qualifier.


6In respect of the FCA's power in section 166 of the Act (Reports by skilled persons), reference to a firm in SUP 5.5.1 R, SUP 5.5.5 R and SUP 5.5.9 R includes a recognised investment exchange.


6In respect of the FCA's power in section 166 of the Act (Reports by skilled persons), the guidance in this chapter applies to a recognised investment exchange in the same way as it applies to a firm.

SUP 5.1.2GRP

This chapter (other than the rules, and guidance on rules, in SUP 5.5 (Duties of firms)) is also relevant to certain unauthorised persons within the scope of section 166 of the Act (Reports by skilled persons) (see SUP 5.2.1 G).


SUP 5.1.3GRP

6The purpose of this chapter is to give guidance on the appropriate regulator's use of the power in section 166 (Reports by skilled persons) and section 166A (Appointment of skilled person to collect and update information) of the Act. The purpose is also to make rules requiring a firm to give assistance to a skilled person and, where a firm is required to appoint a skilled person, to include certain provisions in its contract with a skilled person. These rules are designed to ensure that the appropriate regulator receives certain information from a skilled person and that a skilled person receives assistance from a firm.