Related provisions for CONC 13.1.5

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MCOB 5.6.19RRP
Where the same illustration covers a regulated mortgage contract that is a combination of a repayment mortgage and an interest-only mortgage, either:(1) Section 3 of the illustration must state the amount the customer wishes to borrow as a repayment mortgage and the amount required as an interest-only mortgage; or(2) Section 3 of the illustration must summarise the repayment method as partly an interest-only mortgage and partly a repayment mortgage, and Section 4 of the illustration
MCOB 5.6.47GRP
An example of how the information required by MCOB 5.6.42 R(3) and MCOB 5.6.46 R may be presented when there is an initial fixed interest rate for a period of 22 months followed by the mortgage lender's standard variable interest rate for a period of 278 months is as follows:'22 payments at a fixed rate of [...]%followed by278 payments at a variable rate, currently [...]%'.
MCOB 5.6.48RRP
The information required by MCOB 5.6.42 R(3)(d) must exclude:(1) the cost of repaying the capital if the regulated mortgage contract is an interest-only mortgage: where part of the regulated mortgage contract is an interest-only mortgage, the cost of repaying the capital must be excluded only for that part; and(2) the cost of any products which may be sold in conjunction with the regulated mortgage contract (whether tied products or not), unless the cost has been added to the
MCOB 5.6.52RRP
Where all or part of the regulated mortgage contract to which the illustration relates is an interest-only mortgage:(1) the illustration must include the sub-heading 'Cost of repaying the capital' with the following text under it:'You will still owe [insert amount of loan on an interest-only basis] at the end of the mortgage term. You will need to make separate arrangements to repay this. When comparing the payments on this mortgage with a repayment mortgage, remember to add any
MCOB 5.6.53GRP

An example of how the information required by MCOB 5.6.52 R (1), MCOB 5.6.52 R (3) and MCOB 5.6.52 R (5) may be presented is as follows:

Cost of repaying the capitalYou will still owe £Z at the end of the mortgage term. You will need to make separate arrangements to repay this. When comparing the payments on this mortgage with a repayment mortgage, remember to add any money that you may need to pay into a separate savings plan to build up a lump sum to repay this amount.

Savings plan that you do not have to take out through [insert name of mortgage lender or mortgage intermediary]

Monthly payments

XYZ savings plan (see separate product disclosure document)

£C

What you will need to pay each month including the cost of a savings plan to repay the capital

36 payments at a fixed rate currently x% followed by:

£(A+C)

264 payments at a variable rate currently y%.

£(B+C)

MCOB 5.6.55RRP
Unless all of the interest rates described in MCOB 5.6.54 R(5) apply for the term of the loan part to which they apply, then an additional section numbered as 6a and titled 'What you will need to pay in future' must be included to indicate the future stepped payments (if MCOB 5.6.51 R also applies then the section on deferred interest must be numbered 6b). This section must:(1) state when a change in payment will occur;(2) state the reason for the change in payment; and(3) confirm
MCOB 5.6.61GRP
Although the effect of a one percentage point increase in interest rates on the customer's payments is not completely linear, the purpose of MCOB 5.6.59 R(1)(g) and (h) is to show the approximate effect of such an increase.
MCOB 5.6.62RRP
Unless MCOB 5.6.59 R(2)(a) or (b) apply, the following words must be prominently displayed at the end of the sub-section 'What if interest rates go up?':'Rates may increase by much more than this so make sure you can afford the [insert frequency of payments from MCOB 5.6.40 R] payment'.
MCOB 5.6.63RRP
The following words must be prominently displayed at the end of the sub-section 'What if your income goes down?':'Make sure you can afford your mortgage if your income falls'.
MCOB 5.6.65RRP
The following text must be included at the end of Section 7 'Are you comfortable with the risks?': The Money Advice Service8 information sheet "You can afford your mortgage now, but what if...?" will help you consider the risks. You can get a free copy from http://www.moneyadviceservice.org.uk,8612or by calling 0800 138 7777.’7866
MCOB 5.6.68RRP
The fees included in this section in accordance with MCOB 5.6.66 R must be itemised under the relevant sub-headings as follows:(1) the fees that are payable by the customer to the mortgage lender must be itemised under the sub-heading 'Fees payable to [name of mortgage lender]';(2) the remaining fees must be itemised under the sub-heading 'Other fees'; and(3) (a) if there are no fees to be itemised in accordance with (1), the sub-heading must be retained and a statement must be
MCOB 5.6.74RRP
Under the sub-heading 'Insurance you must take out through [insert name of mortgage lender or where relevant the name of the mortgage intermediary, or both]' the following information must be included if the regulated mortgage contract requires the customer to take out insurance that is a tied product either through the mortgage lender or where relevant the mortgage intermediary:(1) details of which insurance is a tied product;(2) for how long the customer is obliged to purchase
MCOB 5.6.76RRP
If the regulated mortgage contract does not require the customer to take out insurance as a tied product, the sub-heading 'Insurance you must take out through [insert the name of the mortgage lender, and where relevant the name of the mortgage intermediary]' must be retained and a statement must be provided under this heading that the customer is not obliged to take out any insurance through the mortgage lender or, where relevant, the mortgage intermediary.
MCOB 5.6.80RRP
A firm may include in the illustration, under the sub-heading 'Optional insurance', quotations (estimated where necessary) for any insurance products (other than the insurance products covered elsewhere in the illustration in accordance with MCOB 5.6.74 R and MCOB 5.6.77 R) that the firm issuing the illustration wishes to promote to the customer.
MCOB 5.6.85GRP
The requirements in MCOB 5.6.84 R(1) may be presented in a tabular format.
MCOB 5.6.91GRP
Where the interest recalculation described in MCOB 5.6.90 R takes place immediately, firms may add a statement in this section explaining that the customer will get the benefit of the overpayment immediately, and firms may refer to supplementary information to illustrate further, the benefits of making regular overpayments.
MCOB 5.6.93RRP
(1) If none of the features at MCOB 5.6.94 R are applicable to the regulated mortgage contract to which the illustration relates, the section headed 'Additional features' must be retained, but the sub-headings must not be included and a statement must be added to explain that there are no additional features.(2) Only those features available on the regulated mortgage contract need be included in the illustration.(3) If a firm provides a customer with supplementary information
MCOB 5.6.94RRP
The relevant sub-headings are as follows:(1) 'Underpayments';(2) 'Payment holidays';(3) 'Borrow back';(4) 'Incentives';(5) 'Additional borrowing available without further approval';(6) 'Additional secured borrowing';(7) 'Credit card';(8) 'Unsecured borrowing';(9) 'Linked current account'; and(10) 'Linked savings account'.
MCOB 5.6.104RRP
Where more than one additional borrowing facility from MCOB 5.6.99 R to MCOB 5.6.102 R applies, the total debt and total payments due under all these linked borrowing facilities must be included under a separate sub-section titled 'Total additional borrowing'.1
MCOB 5.6.108GRP
Suitable wording for the warning contained in MCOB 5.6.107 R would be:'This will increase the amount of borrowing secured on your home'.
MCOB 5.6.112GRP
If a linked current account and a linked savings account are offered as part of the regulated mortgage contract, the examples in MCOB 5.6.109 R(2) and MCOB 5.6.110 R(2) can be combined into one example.
MCOB 5.6.115RRP
If the mortgage intermediary will pass to the customer all or part of the amount payable to the mortgage intermediary under MCOB 5.6.113 R(1) or MCOB 5.6.114 R, that fact may be stated in this section, along with the amount payable to the customer.
MCOB 5.6.116RRP
If the mortgage lender will make no payment to the mortgage intermediary or any third party, this section may state that the mortgage intermediary will receive no payment.
MCOB 5.6.128RRP
The text at MCOB 5.6.124 R must be immediately followed by the following additional text, prominently displayed (see MCOB 2.2.9 G):'Changes in the exchange rate may increase the sterling equivalent of your debt.'
MCOB 5.6.140RRP
Under the section heading 'Are you comfortable with the risks?':(1) under the sub-heading 'What if interest rates go up?' the illustration must include the following:(a) if the interest rate is fixed throughout the term of the regulated mortgage contract, an explanation that the interest rate will not vary because the interest rate is fixed;(b) if the interest rate is fixed for part of the term of the regulated mortgage contract, an explanation of when or how increases in the
MCOB 5.6.142RRP
Unless MCOB 5.6.140 R(2)(a) or (b) applies, the following words must be prominently displayed at the end of the sub-section 'What if interest rates go up?':'Rates may increase by much more than this so make sure you can afford this loan.'
MCOB 5.6.143RRP
The following words must be prominently displayed at the end of the sub-section 'What if your income goes down?':'Make sure you can afford your mortgage if your income falls'.
MCOB 5.6.145RRP
The following text must be included at the end of Section 7 'Are you comfortable with the risks?': The Money Advice Service8 information sheet "You can afford your mortgage now, but what if...?" will help you consider the risks. You can get a free copy from http://www.moneyadviceservice.org.uk,8 or by calling 0800 138 7777.'76128686
LR 13.5.-1GRP
2For the purposes of LR 13.5, references to consolidation include both consolidation and proportionate consolidation.
LR 13.5.7GRP
In complying with LR 13.5.6 R a listed company should:(1) state whether the financial information was extracted from accounts, internal financial accounting records, internal management accounting records, an external or other source;(2) state whether financial information that was extracted from audited accounts was extracted without material adjustment; and(3) indicate which aspects of the financial information relate to:(a) historical financial information;(b) forecast or estimated
LR 13.5.12RRP
A listed company that is required by LR 13.5.1 R or LR 13.5.3BR (1)2 to produce financial information in a class 1 circular must include in the circular a financial information table.
LR 13.5.12ARRP
2LR 13.5.13 R to LR 13.5.30 R apply only in relation to a class 1 acquisition.
LR 13.5.13RRP
A financial information table for a class 1 acquisition2 must cover one of the following reporting periods:(1) a period of three years up to the end of the latest financial period for which the target or its parent has prepared audited accounts; or2(2) a lesser period than the period set out in (1) if the target's business has been in existence for less than three years.22
LR 13.5.14RRP
A listed company must include, in a financial information table, financial information that covers:(1) the target; and(2) the target'ssubsidiary undertakings, if any.
LR 13.5.17ARRP
2If the target has made an acquisition or a series of acquisitions that were made during, or subsequent to, the reporting periods set out in LR 13.5.13 R the listed company must include additional financial information tables so that the financial information presented by the listed company represents at least 75% of the enlarged target for the period from the commencement of the relevant three year reporting period set out in LR 13.5.13R (1) up to the date of the acquisition
LR 13.5.18RRP
A listed company must ensure that a financial information table includes, for each of the periods covered by the table:(1) a balance sheet and its explanatory notes;(2) an income statement and its explanatory notes;(3) a cash flow statement and its explanatory notes;(4) a statement showing either all changes in equity or changes in equity other than those arising from capital transactions with owners and distributions to owners;(5) the accounting policies; and(6) any additional
LR 13.5.21RRP
Unless LR 13.5.3A R, LR 13.5.3B R or LR 13.5.27 R applies, a financial information table must disclose how the accounting policies used conform with LR 13.5.4 R and be accompanied by an accountant’s opinion as set out in LR 13.5.22 R.22
LR 13.5.30BRRP
(1) 2In the case of a class 1 disposal, a financial information table must include for the target:(a) the last annual consolidated balance sheet; (b) the consolidated income statements for the last three years drawn up to at least the level of profit or loss for the period; and(c) the consolidated balance sheet and consolidated income statement (drawn up to at least the level of profit or loss for the period) at the issuer's interim balance sheet date if the issuer has published
LR 13.5.30CRRP
2Where a change of accounting policies has occurred during the period covered by the financial information table required by LR 13.5.30B R the financial information must be presented on the basis of both the original and amended accounting policies for the year prior to that in which the new accounting policy is adopted unless the change did not require a restatement of the comparative. Therefore the financial information table should have four columns (or more where changes have
ICOBS 8.4.4RRP
(1) A firm carrying out contracts of insurance, or a managing agent managing insurance business, including in either case business accepted under reinsurance to close, which includes United Kingdom commercial lines employers' liability insurance, must:(a) produce an employers’ liability register complying with the requirements in (2) and ICOBS 8 Annex 1;(b) obtain and submit to the FCA2 a written statement, by a director of the firm responsible for the production of the employers’
ICOBS 8.4.4ARRP
2The information referred to in ICOBS 8.4.4R (1)(b)(ii) is:(1) a description of the ways in which the firm, in its production of the register, is not materially compliant;(2) the number of policies, in relation to which, either:(a) the firm is not able to include any information in the register; and/or(b) information is included in the register but information may be incorrect or incomplete;in each case as a proportion of the total number of policies required to be included in
ICOBS 8.4.4CRRP
2The report referred to in ICOBS 8.4.4R (1)(c) must:(1) be prepared on the basis of providing an opinion under a limited assurance engagement confirming whether the auditor has found no reason to believe that the firm, solely in relation to the firm's extraction of information from its underlying records, has not materially complied with the requirements in ICOBS 8.4.4R (2) and ICOBS 8 Annex 1 in the production of its employer’s liability register, having regard in particular
ICOBS 8.4.9RRP
The conditions referred to in ICOBS 8.4.4R (2)(d) and ICOBS 8.4.7R (1)(a)(ii) are that the tracing office is one which:(1) maintains a database which:(a) accurately and reliably stores information submitted to it by firms for the purposes of complying with these rules;(b) has systems which can adequately keep it up to date in the light of new information provided by firms;(c) has an effective search function which allows a person inputting data included on the database relating
ICOBS 8.4.9ARRP
2The requirement referred to in ICOBS 8.4.9R (7)(b) is that the report must include an opinion from the auditor confirming whether, in all material respects, the tracing office maintains a database which accurately and reliably stores information submitted to it by firms for the purpose of complying with relevant requirements in ICOBS 8.4 and that it has systems which can adequately keep it up to date in the light of new information provided by firms.
ICOBS 8.4.10GRP
(1) ICOBS 8.4.4R (2)(b) and ICOBS 8.4.9R (1) require a firm, or a tracing office used by a firm, to have an effective search function in relation to the employers’ liability register database. In the FCA's view an effective search function is one which finds all matches in the register to any specified whole word.(2) For the purposes of ICOBS 8.4.9R (5) the term ‘without delay’ should have the same meaning as in ICOBS 8.4.5G (2). (3) In order to assist firms with their obligations
ICOBS 8.4.12GRP
For the purposes of ICOBS 8.4.11R (2)(c) a firm is required to include the date at which it updates the register. However, depending on the firm's processes for making information available for the purposes of ICOBS 8.4.11R (2)(b), the register may only be relied upon as being up-to-date as at a date three months prior to the date on which the firm has updated the register, or such lesser period as applicable to the firm as is consistent with the firm's processes. ICOBS 8.4.11R
CASS 10.1.2GRP
The purpose of the CASS resolution pack is to ensure that a firm maintains and is able to retrieve information that would, in the event of its insolvency, assist an insolvency practitioner in achieving a timely return of client money and safe custody assets held by the firm to that firm'sclients.
CASS 10.1.7RRP
In relation to each document in a firm'sCASS resolution pack a firm must:(1) put in place adequate arrangements to ensure that an administrator, receiver, trustee, liquidator or analogous officer appointed in respect of it or any material part of its property is able to retrieve each document as soon as practicable and in any event within 48 hours of that officer’s appointment; and(2) ensure that it is able to retrieve each document as soon as practicable, and in any event within
CASS 10.1.8RRP
Where documents are held by members of a firm'sgroup in accordance with CASS 10.1.6 R, the firm must have adequate arrangements in place with its group members which allow for delivery of the documents within the timeframe referred to in CASS 10.1.7 R.
CASS 10.1.9ERP
(1) For the purpose of CASS 10.1.7 R, the following documents and records should be retrievable immediately:(a) the document identifying the institutions referred to in CASS 10.2.1R (2);(b) the document identifying individuals pursuant to CASS 10.2.1R (4);(c) any written notification or trust acknowledgement letters referred to in CASS 10.2.1R (5);(d) the most recent internal reconciliations relating to safe custody assets referred to in CASS 10.3.1R (3);(e) the most recent external
CASS 10.1.13GRP
A firm may hold in electronic form any document in its CASS resolution pack provided that it continues to be able to comply with CASS 10.1.7 R and CASS 10.1.11 R in respect of that document.
BIPRU 4.3.17RRP
Notwithstanding BIPRU 4.3.16 R, a firm using pooled data according to BIPRU 4.3.92 R - BIPRU 4.3.94 R (Overall requirements for estimation) may outsource the following tasks:(1) production of information relevant to testing and monitoring grades and pools;(2) production of summary reports from the firm'srating systems;(3) production of information relevant to review of the rating criteria to evaluate if they remain predictive of risk;(4) documentation of changes to the rating
BIPRU 4.3.21RRP
A firm must document the rationale for and analysis supporting its choice of rating criteria. A firm must document all major changes in the risk rating process, and such documentation must support identification of changes made to the risk rating process subsequent to the last review by the appropriate regulator. The organisation of rating assignment including the rating assignment process and the internal control structure must also be documented.[Note:BCD Annex VII Part 4 point
BIPRU 4.3.33RRP
A firm must regularly compare realised default rates with estimated PDs for each grade and where realised default rates are outside the expected range for that grade a firm must specifically analyse the reasons for the deviation. A firm3using its own estimates of LGDs and/or conversion factors must also perform analogous analysis for own estimates of LGDs and conversion factors. Such comparisons must make use of historical data that cover as long a period as possible. A firm must
BIPRU 4.3.54RRP
A firm must collect and store data on aspects of its internal ratings as required under BIPRU 11 (Disclosure).[Note:BCD Annex VII Part 4 point 36]
BIPRU 4.3.55GRP
A firm should ensure that IT systems relevant to the operation of its rating systems are sound and robust. A firm's IT systems should provide rapid availability of databases and appropriate archiving. Adequate controls should be in place to prevent unauthorised changes to data being made. Contingency processes and plans should be in place to deal with events of system failure. A firm should document work-flows and procedures related to data collection and storage.
BIPRU 4.3.74RRP
A firm's own estimates of the risk parameters PD, LGD, conversion factor and EL must incorporate all relevant data, information and methods. The estimates must be derived using both historical experience and empirical evidence, and must not be based purely on judgemental considerations. The estimates must be plausible and intuitive and must be based on the material drivers of the respective risk parameters. The less data a firm has, the more conservative it must be in its estimation.[Note:BCD
BIPRU 4.3.80RRP
(1) A firm must collect data on what it considers to be the main drivers of the risk parameters PD, LGD, conversion factor and EL for each group of obligors or facilities.(2) A firm must document its identification of the main drivers of risk parameters.(3) A firm must be able to demonstrate that its process of identification is reasonable and appropriate.
BIPRU 4.3.85RRP
The population of exposures represented in the data used for estimation, the lending standards used when the data was generated and other relevant characteristics must be comparable with those of a firm'sexposures and standards. A firm must also be able to demonstrate to the appropriate regulator that the economic or market conditions that underlie the data are relevant to current and foreseeable conditions. The number of exposures in the sample and the data period used for quantification
BIPRU 4.3.91GRP
If a firm can demonstrate to the appropriate regulator that for data that has been collected prior to 31 December 2006, appropriate adjustments have been made to achieve broad equivalence with the definitions of default or loss, the appropriate regulator may in the IRB permission allow the firm some flexibility in the application of the required standards for data.[Note:BCD Annex VII Part 4 point 56]
CREDS 2.2.1GRP
SYSC 4.1.1 R requires every firm, including a credit union, to have robust governance arrangements, which include a clear organisational structure with well-defined, transparent and consistent lines of responsibility, effective processes to identify, manage, monitor and report the risks it is or might be exposed to, and internal control mechanisms, including sound administrative and accounting procedures and effective control and safeguard arrangements for information processing
CREDS 2.2.35GRP
In forming a view on whether the management information system is sufficiently comprehensive, the committee of management should consider whether, where relevant, the substance of reports provides a clear statement of:(1) the capital position;(2) the liquidity position;(3) profits and losses, assets and liabilities, and flow of funds;(4) loans, arrears, and provisions.
CREDS 2.2.43GRP
The purposes of an internal audit are:(1) to ensure that the policies and procedures of the credit union are followed;(2) to provide the committee of management with a continuous appraisal of the overall effectiveness of the control systems, including proposed changes;(3) to recommend improvements where desirable or necessary;(4) to determine whether the internal controls established by the committee of management are being maintained properly and operated as laid down in the
CREDS 2.2.57GRP
The conclusions, recommendations, projections and assumptions set out in the business plan should be supported by analysis, based on adequate data, and properly documented for comparison with actuals.
CONC 7.6.4GRP
Whether exercising rights under a continuous payment authority is reasonable, proportionate and not excessive (as regards the frequency or period of collection attempts), will depend on the circumstances, including:(1) whether the firm is aware or has reason to believe that the customer is in actual or potential financial difficulties which the exercise of rights under a continuous payment authority may exacerbate; and(2) whether the customer has been notified of the failure to
CONC 7.6.8GRP
(1) If a firm becomes aware that a customer is in financial difficulties, the firm should reassess the payment arrangement and should consider reasonable proposals to revise the payment schedule and alternative repayment arrangements.[Note: paragraph 3.9mii (box) of DCG](2) Where a customer informs a firm of being in financial difficulties, pending receipt of evidence to that effect, a firm should consider suspending exercise of its rights under a continuous payment authority
CONC 7.6.15GRP
(1) CONC 7.6.12 R, CONC 7.6.13 R and CONC 7.6.14 R do not prevent a firm accepting payment (including a part payment) from a customer using a means of payment other than under a continuous payment authority. If, for example, a customer consents separately that a single payment of a specified amount may be taken on the same day or on another specified day using his or her debit card details, this is excluded from the definition of continuous payment authority.(2) CONC 7.6.14 R
CONC 7.6.16RRP
A firm must not by any means improperly or unfairly inhibit or discourage a customer from cancelling a continuous payment authority including by:(1) misleading the customer, expressly or by omission, regarding the right to cancel and how it may be exercised; or(2) failing to respond promptly to requests by or on behalf of the customer to amend or cancel the continuous payment authority; or(3) intimidating a customer who wishes to cancel the continuous payment authority; or(4)
CONC 13.1.2GRP
(1) The FCA takes the view that sections 77, 78 and 79 of the CCA should be read in a way that allows the borrower or hirer to obtain the information needed in order to be properly informed without imposing unnecessary burden on firms.(2) The statement referred to in the relevant section must be prepared according to the information to which it is 'practicable' for the firm to refer. In the FCA's view, this means practicable at the time of the request and includes information
CONC 13.1.3GRP
(1) A request must be from or on behalf of the borrower under sections 77 and 78 or from or on behalf of a hirer under section 79. This would include a friend or relative, a solicitor, a claims management company or other third party. Under the Data Protection Act 1998 and the Data Protection Principles, the lender or owner is not allowed to reveal such information to a third party without the authority of the borrower or hirer. It should therefore satisfy itself that the person
CONC 13.1.4GRP
(1) The copy of the executed agreement should be a 'true copy' of the original. However, as confirmed in the case of Carey v HSBC Bank plc [2009] EWHC 3417 (QB), in this context the term 'true copy' does not necessarily mean a carbon, photocopy, microfiche copy or other exact copy of the signed agreement. There is no obligation to provide a copy which includes a copy of the signature.(2) The firm can reconstitute a copy. It can do this by re-populating a template of the relevant
CONC 7.13.1GRP
The obtaining, recording, holding and passing on of information about individuals for the purposes of tracing a customer and/or recovering a debt due under a credit agreement or a consumer hire agreement or a P2P agreement will involve the processing of personal data. Accordingly, firms processing such data are data controllers or data processors and are obliged to comply with the Data Protection Act 1998 and, in particular, to adhere to the eight data protection principles.[Note:
CONC 7.13.2RRP
A firm must take reasonable steps to ensure that it maintains accurate and adequate data (including in respect of debt and repayment history) so as to avoid the risk that: (1) an individual who is not the true borrower or hirer is pursued for the repayment of a debt; and(2) the borrower or hirer is pursued for an incorrect amount.[Note: paragraphs 3.19 of DCG and 7.11 (box) of ILG]
CONC 7.13.3RRP
A firm must endeavour to ensure that the information it passes on to its agent or to a debt collector or to a tracing agent (a person that carries on the activity in article 54 of the Exemption Order), whether for the firm's or another person’s business, or to any other person involved in recovering the debt or, where appropriate, to a credit reference agency is accurate and adequate so as to facilitate the tracing and identification of the true borrower or hirer.[Note: paragraphs
CONC 7.13.5GRP
A firm should ensure (subject to any legal requirements) that adequate and accurate information it holds about a customer in relation to a debt is made available to persons involved on its behalf in the debt recovery process. Information relating to the customer which should be made available to agents or employees includes, for example:(1) being in financial difficulties;(2) being particularly vulnerable;(3) disputing the debt;(4) a repayment plan or forbearance being in place;(5)
MCOB 4.11.3BGRP
2A firm should take reasonable steps to obtain from a customer all information likely to be relevant for the purposes of MCOB 4.11.3A R.
MCOB 4.11.4ERP
(1) In assessing whether a customer can afford to enter into a particular regulated sale and rent back agreement, a firm should use the following information:(a) the rental payments that will be due under the tenancy agreement which confers the right of the customer (or trust beneficiary or related party) to continue residing in the property, stress tested to take account of possible future rental increases during the fixed term of the tenancy agreement by reference to the circumstances
MCOB 4.11.6GRP
In considering the customer's entitlement to the means-tested benefits and housing benefits for the affordability and appropriateness assessment, a firm may rely on information provided to it by the customer, provided it is satisfied on reasonable grounds that the customer has received advice from the appropriate HM Government department or other appropriate source of independent advice as to his position.
MCOB 4.11.7GRP
(1) A consideration of the customer's benefits position will need to focus on whether, by entering into the proposed regulated sale and rent back agreement, his entitlement to means-tested benefit will be adversely affected because of his receipt of the net proceeds of sale (if any) of the property. The customer's possible loss of entitlement to claim housing benefit should also be assessed. Where a firm has insufficient knowledge of means-tested and housing benefits to reach
CONC 6.7.24RRP
A firm must not amend the terms of a continuous payment authority without first obtaining the customer's consent, after having fully explained to the customer the reason for the amendment. [Note: paragraph 3.9miii of DCG]
CONC 6.7.25RRP
CONC 6.7.24 R does not preclude the firm from: (1) making amendments pursuant to a variation clause to which the customer has previously given consent, after it was fully explained to the customer the reason for the amendment; or(2) reducing or waiving payments unilaterally, for example, under a repayment plan, provided that this is explained to the customer. [Note: paragraph 3.9miii of DCG]
CONC 6.7.26RRP
A firm must use the correct category code and identifier when presenting a payment request to the payment service provider. [Note: paragraph 3.9miii of DCG]
MAR 4.3.2GRP
(1) The Takeover Panel publishes notices regarding compliance with the Takeover Code. It may also, from time to time, name in those notices persons as persons that, in the Takeover Panel's opinion, are not likely to comply with the Takeover Code. Any notices of this type will be available on the Takeover Panel's website (www.thetakeoverpanel.org.uk).11(2) A firm should keep itself informed of Takeover Panel notices and take them into account in seeking to comply with MAR 4.3.1
MAR 4.3.5RRP
A firm must provide to the Takeover Panel:(1) any information and documents in its possession or under its control which the Takeover Panel requests to enable the Takeover Panel to perform its functions; and(2) such assistance as the Takeover Panel requests and as the firm is reasonably able to provide to enable the Takeover Panel to perform its functions.
MAR 4.3.6GRP
In MAR 4.3.5 R, "documents" includes information recorded in any form and, in relation to information recorded otherwise than in legible form, references to providing documents include references to producing a copy of the information in legible form.
SUP 5.6.3GRP
2In respect of the appointment of a skilled person under section 166A (Appointment of skilled person to collect and update information) of the Act, a contractual or other requirement imposed on a person to keep any information confidential will not apply if:(1) the information is or may be relevant to anything required to be done as part of the skilled person's appointment under section 166A (Appointment of skilled person to collect and update information) of the Act;(2) a firm
SUP 5.6.4GRP
2A firm may provide information that would otherwise be subject to a contractual or other requirement to keep it in confidence if it is provided for the purposes of anything required to be done in respect of the skilled person's collection or updating of information under section 166A (Appointment of skilled person to collect and update information) of the Act.
REC 2.5.1UKRP

Schedule to the Recognition Requirements Regulations, paragraph 3

2(1)

The [UK RIE] must ensure that the systems and controls used in the performance of its [relevant functions] are adequate, and appropriate for the scale and nature of its business.

(2)

Sub-paragraph (1) applies in particular to systems and controls concerning -

(a)

the transmission of information;

(b)

the assessment, mitigation and management of risks to the performance of the [UK RIE'srelevant functions];

(c)

the effecting and monitoring of transactions on the [UK RIE];

(ca)

the technical operation of the [UK RIE], including contingency arrangements for disruption to its facilities;

(d)

the operation of the arrangements mentioned in paragraph 4(2)(d); and

(e)

(where relevant) the safeguarding and administration of assets belonging to users of the [UK RIE's] facilities.

REC 2.5.4GRP
The following paragraphs set out other matters to which the FCA3 may have regard in assessing the systems and controls used for the transmission of information, risk management, the effecting and monitoring of transactions, the operation of settlement arrangements (the matters covered in paragraph 4(2)(d) of the Schedule to the Recognition Requirements Regulations) and the safeguarding and administration of assets .33
REC 2.5.5GRP
In assessing a UK recognised body's systems and controls for the transmission of information, the FCA3 may also have regard to the extent to which these systems and controls ensure that information is transmitted promptly and accurately: 3(1) within the UK recognised body itself; (2) to members; and (3) (where appropriate) to other market participants or other relevant persons.
REC 2.5.20GRP
The FCA3 may have regard to the arrangements made to keep clear and complete audit trails of all uses of information technology systems and to reconcile (where appropriate) the audit trails with equivalent information held by system users and other interested parties.3
MCOB 4.7A.4GRP
(1) A firm should take reasonable steps to obtain from a customer all information likely to be relevant for the purposes of MCOB 4.7A.(2) For the purposes of MCOB 4.7A.2 R, if for any reason a customer rejects (in whole or in part) advice given by a firm, the firm is not precluded from advising him to enter into a different regulated mortgage contract (in accordance with the requirements of MCOB 4.7A) provided the firm has taken reasonable steps to ensure that that different contract
MCOB 4.7A.6RRP
When a firm assesses whether the regulated mortgage contract is appropriate to the needs and circumstances of the customer for the purposes of MCOB 4.7A.5R (1), the factors it must consider include the following, insofar as relevant:(1) whether the customer's requirements appear to be within the mortgage lender's known eligibility criteria for the regulated mortgage contract;(2) whether it is appropriate for the customer to have an interest-only mortgage, a repayment mortgage,
MCOB 4.7A.12RRP
Where a firm has identified a bridging loan as appropriate for a customer, the firm must ensure that the customer is aware that he will have to demonstrate to themortgage lender that he has a clearly understood and credible repayment strategy in place.
DISP App 3.2.1GRP
The firm should consider, in the light of all the information provided by the complainant and otherwise already held by or available to the firm, whether there was a breach or failing by the firm.
DISP App 3.2.6GRP
The firm should take into account any information it already holds about the sale and consider other issues that may be relevant to the sale identified by the firm through other means, for example, the root cause analysis described in DISP App 3.4.
MAR 1.2.12ERP
In the opinion of the FCA , the following factors are to be taken into account in determining whether or not information is generally available, and are indications that it is (and therefore not inside information):(1) whether the information has been disclosed to a prescribed market or a prescribed auction platform3 through a regulatory information service or RIS or otherwise in accordance with the rules of that market;(2) whether the information is contained
MAR 1.2.13ERP
(1) In relation to the factors in MAR 1.2.12E it is not relevant that the information is only generally available outside the UK.(2) In relation to the factors in MAR 1.2.12E (1), (3), (4) and (5) it is not relevant that the observation or analysis is only achievable by a person with above average financial resources, expertise or competence.
MAR 1.2.14GRP
For example, if a passenger on a train passing a burning factory calls his broker and tells him to sell shares in the factory's owner, the passenger will be acting on information which is generally available, since it is information which has been obtained by legitimate means through observation of a public event.
SYSC 4.1.1RRP
3(1) A firm must have robust governance arrangements, which include a clear organisational structure with well defined, transparent and consistent lines of responsibility, effective processes to identify, manage, monitor and report the risks it is or might be exposed to, and internal control mechanisms, including sound administrative and accounting procedures and effective control and safeguard arrangements for information processing systems.8(2) [deleted]1313[Note: article 74
SYSC 4.1.4RRP
A firm (with the exception of a sole trader who does not employ any person who is required to be approved under section 59 of the Act (Approval for particular arrangements))3 must, taking into account the nature, scale and complexity of the business of the firm, and the nature and range of the financial services and activities 3undertaken in the course of that business:310(1) (if it is a common platform firm or a management company)10 establish, implement and maintain decision-making
SYSC 4.1.5RRP
A MiFID investment firm and a management company10 must establish, implement and maintain systems and procedures that are adequate to safeguard the security, integrity and confidentiality of information, taking into account the nature of the information in question.[Note: article 5(2) of the MiFID implementing Directive and article 4(2) of the UCITS implementing Directive]10
SYSC 4.1.8GRP
The matters dealt with in a business continuity policy should include:(1) resource requirements such as people, systems and other assets, and arrangements for obtaining these resources;(2) the recovery priorities for the firm's operations; (3) communication arrangements for internal and external concerned parties (including the appropriate regulator, clients and the press);(4) escalation and invocation plans that outline the processes for implementing the business continuity
LR 4.2.4RRP
The following minimum information from the PD Regulation must be included in listing particulars:(1) for an issue of bonds including bonds convertible into the issuer's shares or exchangeable into a third party issuer'sshares or derivative securities1, irrespective of the denomination of the issue, the minimum information required by the schedules applicable to debt and derivative securities with a denomination per unit of at least 100,000 euros;11(2) the additional information
LR 4.2.10RRP
A request to the FCA to authorise the omission of specific information in a particular case must:(1) be in writing from the issuer;(2) identify the specific information concerned and the specific reasons for the omission; and(3) state why in the issuer's opinion one or more of the grounds in section 82 of the Act applies.
LR 4.2.13RRP
(1) In the case of listing particulars for specialist securities:(a) the issuer must state in the listing particulars that it accepts responsibility for the listing particulars;(b) the directors may state in the listing particulars that they accept responsibility for the listing particulars; and(c) other persons may state in the listing particulars that they accept responsibility for all or part of the listing particulars and in that case the statement by the issuer or directors
SUP 5.5.9RRP
A firm must provide all reasonable assistance to any skilled person appointed to provide a report under section 166 (Reports by skilled persons) or to collect or update information under section 166A (Appointment of skilled person to collect and update information) of the Act.44
SUP 5.5.12GRP
When a firm appoints a skilled person to provide a report under section 166 (Reports by skilled persons) or collect or update information under section 166A (Appointment of skilled person to collect and update information) of the Act,4 a firm is expected, including where applicable in complying with Principle 11,4 to take reasonable steps to ensure that a skilled person delivers a report or collects or updates information4 in accordance with the terms of his appointment.4
SUP 5.5.14GRP
4In respect of the appointment of a skilled person under section 166A (Appointment of skilled person to collect and update information) of the Act, under section 166A(5) a skilled person may require any person to provide all such assistance as the skilled person may reasonably require to collect or update the information in question.