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To access the FCA Handbook Archive choose a date between 1 January 2001 and 31 December 2004.

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  1. Point in time
    2005-03-01

SUP App 1.2 Purpose

SUP App 1.2.1G

The purpose of this appendix is to give guidance on the prudential categories and sub-categories of firm used in the Interim Prudential sourcebooks and the Supervision manual. The prudential categories are defined in the Glossary, and some of the sub-categories are defined there and some in the glossaries of the Interim Prudential sourcebooks.

SUP App 1.2.2G

The FSA is developing its approach to prudential standards and some provisions in the Supervision manual in a two-stage approach. Initially the FSA is including in the Handbook interim material as set out in the five Interim Prudential sourcebooks and the Supervision manual, for example SUP 16 (Reporting requirements). The FSA is developing material which will provide an integrated approach to the setting of prudential standards. Each of the Interim Prudential sourcebooks is based on the prudential regime that existed before commencement, changed, mainly where the Act, and other statutory and international developments, have made a change desirable or essential. The Lloyd's sourcebook shows less continuity with the prudential regime previously applied to the Society of Lloyd's, as it introduces requirements similar to those already applied to insurers. Most grandfathered firms have a prudential category and sub-category equivalent to that which they had before commencement.

SUP App 1.2.3G

If there is any doubt about prudential categorisation, a firm should seek individual guidance from its usual supervisory contact at the FSA and an applicant for authorisation should seek guidance from the Corporate Authorisation department.