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Status: You are viewing the version of the handbook as on 2009-03-31.

SUP 7.1 Application and purpose

Application

SUP 7.1.1GRP

This chapter applies to every firm which has a Part IV permission.

SUP 7.1.2GRP

The application of this chapter to an incoming EEA firm, incoming Treaty firm or UCITS qualifier with a Part IV permission (a "top-up permission") is limited as explained in SUP 7.2.4 G.

Purpose

SUP 7.1.3GRP

The Handbook primarily contains provisions which apply to all firms or to certain categories of firm. However, a firm may apply for a waiver or modification of rules in certain circumstances as set out in SUP 8; or it may receive individual guidance on the application of the rules, as set out in SUP 9.

SUP 7.1.4GRP

The FSA, in the course of its supervision of a firm, may sometimes judge it necessary or desirable to impose additional requirements on a firm or in some way amend or restrict the activities which the firm has permission to undertake. The guidance in this chapter describes when and how the FSA will seek to do this.

SUP 7.1.5GRP

By waiving or modifying the requirements of a rule or imposing an additional requirement or limitation, the FSA can ensure that the rules, and any other requirements or limitations imposed on a firm, take full account of the firm's individual circumstances, and so assist the FSA in meeting the regulatory objectives (for example, to protect consumers and maintain market confidence).