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

SUP 9.1 Application and purpose

Application

SUP 9.1.1G
  1. (1)

    This chapter applies to:2

    2
    1. (a)

      every firm;

    2. (b)

      persons that are subject to the requirements of the Part 6 rules; and

    3. (c)

      persons generally.

  2. (2)

    SUP 9.3 (Giving individual guidance to a firm on the FSA's own initiative) is, however, only relevant to a firm.

Purpose

SUP 9.1.2GRP

Individual guidance is guidance that is not given to persons or regulated persons generally or to a class of regulated person. It will normally be given to one particular person, which relates to its own particular circumstances or plans. It may be oral or written. Individual guidance will not be published but may at the FSA's discretion be converted to general guidance and published in the Handbook. Written individual guidance will often be labelled as such1

SUP 9.1.3GRP

A person may need to ask the FSA for individual guidance on how the rules and general guidance in the Handbook, the Act or other regulatory requirements apply in their particular circumstances. This chapter describes how a person may do this. Section 157 of the Act gives the FSA the power to give guidance consisting of such information and advice as it considers appropriate.

SUP 9.1.4GRP

The FSA may at times also consider it appropriate to give a firm individual guidance on its own initiative, for example on how it considers a firm should comply with a rule. SUP 9.3 describes when and how the FSA will seek to do this.