Related provisions for INSPRU 7.1.5
61 - 80 of 130 items.
A firm must notify the FSA immediately if:(1) civil proceedings are brought against the firm and the amount of the claim is significant in relation to the firm's financial resources or its reputation; or(2) any action is brought against the firm under section 71 of the Act (Actions for damages) or section 150 (Actions for damages); or(3) disciplinary measures or sanctions have been imposed on the firm by any statutory or regulatory authority, professional organisation or trade
12Where it is otherwise reasonable for "savings" to be brought into account, determining whether or not a complainant is of sufficient means and, if so, to what extent the "savings" are to be brought into account, will have to be based on the facts of each individual case. It will be appropriate to require the complainant to provide adequate information to assist the firm in this task. Matters to be taken into account in this assessment may include:(1) the length of the remaining
(1) As part of its obligations under GENPRU 1.2.30 R (Processes, strategies and systems for risks) and GENPRU 1.2.36 R (Stress and scenario tests) a firm must carry out an evaluation of its exposure to the interest rate risk arising from its non-trading activities.(2) The evaluation under (1) must cover the effect of a sudden and unexpected parallel change in interest rates of 200 basis points in both directions.(3) A firm must immediately notify the FSA if any evaluation under
For hybrid pools of purchased retail exposure receivables where the purchasing firm cannot separate exposures secured by real estate collateral and qualifying revolving retail exposures from other retail exposures, the retail risk weight2 function producing the highest capital requirements for those exposures must apply.[Note: BCD Annex VII Part 1 point 16]
The Treasury have made the following exemptions from the obligations under section 178 of the Act10:(1) controllers and potential controllers of non-directive friendly societiesare exempt from the obligation to notify a change in control (The Financial Services and Markets Act 2000 (Controllers) (Exemption) Order 2009 (SI 2009/77410));10(2) controllers and potential controllers of building societies are exempt from the obligation to notify a change in control unless the change
In determining whether the UK recognised body meets the recognition requirement in Regulation 6(3), the FSA may have regard to whether that body has ensured that the person who performs that function on its behalf:(1) has sufficient resources to be able to perform the function (after allowing for any other activities);(2) has adequate systems and controls to manage that function and to report on its performance to the UK recognised body;(3) is managed by persons of sufficient
Long settlement transaction means a transaction where a counterparty undertakes to deliver a security, a commodity, or a foreign currency amount against cash, other financial instruments, or commodities, or vice versa, at a settlement or delivery date that is contractually specified as more than the lower of the market standard for this particular transaction and five business days after the date on which the firm enters into the transaction.[Note: BCD Annex III Part 1 point
This table belongs to COLL 5.1.2G (2).
Scheme investments and investment techniques |
Limits for UCITS schemes |
Limits for non-UCITS retail schemes |
||
Permissible investment |
Maximum limit |
Permissible investment |
Maximum limit |
|
Yes |
None |
Yes |
None |
|
Transferable securities that are not approved securities |
Yes |
10% |
Yes |
20% |
Yes |
None |
Yes |
None |
|
Regulated schemes other than qualified investor schemes1 |
Yes |
None |
Yes |
None |
Unregulated schemes and qualified investor schemes1 |
No |
N/A |
Yes |
20%(C)1 |
Yes |
None |
Yes |
None |
|
Yes |
None |
Yes |
None |
|
Yes |
None |
Yes |
None |
|
Yes |
None |
Yes |
None |
|
Immovables (i.e real property) |
No |
N/A |
Yes |
None |
Gold |
No |
N/A |
Yes |
10% |
Hedging |
Yes |
None |
Yes |
None |
Yes |
None |
Yes |
None |
|
Underwriting |
Yes |
None |
Yes |
None |
Borrowing |
Yes |
10% (T) |
Yes |
10% |
Cash and near cash |
Yes |
None |
Yes |
None |
Note: |
Meaning of terms used: |
|||
A percentage |
an upper limit (though there may be limits of other kinds). |
|||
"(T)" |
temporary only- see COLL 5.5.4R(4) |
|||
"N/A" |
Not applicable1 |
|||
1“(C)” |
In the case of a non-UCITS retail scheme operating as a FAIF there is no maximum limit - see COLL 5.7.7 R. |
|||
A contingency funding plan sets out a firm's strategies for addressing liquidity shortfalls in emergency situations. Its aim should be to ensure that, in each of the stresses required by BIPRU 12.4.1R, it would still have sufficient liquidity resources to ensure that it can meet its liabilities as they fall due.
A firm must calculate the net position in each currency other than the settlement currency of the master netting agreement by subtracting from the total value of securities denominated in that currency lent, sold or provided under the master netting agreement added to the amount of cash in that currency lent or transferred under the agreement, the total value of securities denominated in that currency borrowed, purchased or received under the agreement added to the amount of cash
The position is slightly more blurred with individuals. The ‘in the course of business’ test is intended to exclude genuine non-business communications. Examples of these would be friends talking in a pub, letters between family members or e-mails sent by individuals using an Internet chat-room or bulletin board for personal reasons. An issue arises where capital is raised for small private companies. Where such a company is already in operation, it will be acting ‘in the course
In negotiating its contract with a service provider, a firm should have regard to:(1) reporting or notification requirements it may wish to impose on the service provider;(2) whether sufficient access will be available to its internal auditors, external auditors or actuaries (see section 341 of the Act) and to the FSA (see SUP 2.3.5 R (Access to premises) and SUP 2.3.7 R (Suppliers under material outsourcing arrangements);(3) information ownership rights, confidentiality agreements