Related provisions for MCOB 9.4.138
261 - 280 of 306 items.
The criteria for determining whether it is appropriate to issue a public censure rather than impose a financial penalty include those factors that the FCA2 will consider in1 determining the amount of penalty set out in DEPP 6.5 A to DEPP 6.5 D.1 Some particular considerations that may be relevant when the FCA2 determines whether to issue a public censure rather than impose a financial penalty are:122(1) whether or not deterrence may be effectively achieved by issuing a public
Examples of the types of ancillary service to an agreement for high-cost short-term credit referred to in CONC 5A.3.21 R include, but are not limited to, services related to processing the application and to the transmission of the money being lent, and insurance or insurance-like services ancillary to the agreement.
Securities falling within the same article in Part III of the Regulated Activities Order which may be given the same generic description (for example, shares admitted to the UKofficial list) will normally be regarded as being of the same type. Options in relation to the same type of security will normally be regarded as being options of the same type.
In the absence of evidence to the contrary, the firm should presume that the complainant would not have bought the payment protection contract he bought if the sale was substantially flawed, for example where the firm:(1) pressured the complainant into purchasing the payment protection contract; or(2) did not disclose to the complainant, in good time before the sale was concluded, and in a way that was fair, clear and not misleading, that the policy was optional; or(3) made the
The FCA's policy on individual guidance is set out in SUP 9. Firms should particularly note the policy on what the FCA considers to be a reasonable request for guidance (see SUP 9.2.5 G). For example, where a firm is seeking guidance on a proposed remuneration structure, the FCA will expect the firm to provide a detailed analysis of how the structure complies with the BIPRU Remuneration Code, including the general requirement for remuneration policies, procedures and practices
(1) The effect of COLL 7.4A.9R (1), if exercised by the authorised contractual scheme manager and depositary, is that the authorised contractual scheme manager must continue to prepare annual and half-yearly long reports and to make them available to unitholders in accordance with COLL 4.5.14R (Publication and availability of annual and half-yearly long report).(2) Where there are outstanding unrealised assets, keeping unitholders appropriately informed may, for example, be carried
(1) The variation in MCOB 8.6A.5 R might involve the addition or removal of a borrower for joint mortgages or a change in payment method. This list is not exhaustive. (2) Examples of rate changes in MCOB 8.6A.5R (2) are: a transfer from a variable rate to a fixed rate; and a transfer from one fixed rate to another fixed rate.(3) Firms are reminded that, if their presentation in MCOB 8.6A.5R (1)(b) has (either explicitly or implicitly) steered the customer towards any one or
In determining a person's honesty, integrity and reputation, the appropriate regulator will have regard to all relevant 3matters including, but not limited to, those set out in FIT 2.1.3 G which may have arisen either in the United Kingdom or elsewhere. The appropriate regulator should be informed of these matters (see SUP 10A.14.17 R and SUP 10B.12.188), but will consider the circumstances only where relevant to the requirements and standards of the regulatory system. For
Section 19 of the Act (The general prohibition) provides that the requirement to be authorised under the Act only applies in relation to regulated activities which are carried on 'in the United Kingdom'. In many cases, it will be quite straightforward to identify where an activity is carried on. But, when there is a cross-border element, for example because a customer is outside the United Kingdom or because some other element of the activity happens outside the United Kingdom,
9The FCA may modify the operation of LR 9.2.21 R in exceptional circumstances, for example to accommodate the operation of:(1) special share arrangements designed to protect the national interest;(2) dual listed company voting arrangements; and(3) voting rights attaching to preference shares or similar securities that are in arrears.
If a firm ceases to be a participant firm or carry out activities within one or more classes54 part way through a financial year4 of the compensation scheme:4(1) it will remain liable for any unpaid levies which the FSCS has already made on the firm; and41(2) the FSCS may make one or more levies4 upon it (which may be before or after the firm5 has ceased to be a participant firm or carry out activities within one or more classes5,4 but must be before it ceases to be an authorised
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.
The arrangements described in MAR 8.3.3 R should include measures designed to ensure the confidentiality of benchmark submissions and additional information received from benchmark submitters (to the extent that such submissions and information are not publicly available or1 have not been made public by mutual agreement between the benchmark administrator and benchmark submitter), for example, through confidentiality agreements for the benchmark administrator's employees and members
23Firms will not be responsible for any increased costs resulting from the complainant choosing another product provider or for increased premiums charged by another provider chosen by the complainant in respect of the risk now presented, for example, higher premiums charged by the other provider due to deterioration in health, unless the original product provider no longer writes new business and is unable to offer revised life cover on a decreasing term assurance basis.
(1) The variation in MCOB 4.8A.10 R might involve: a transfer to a different property (“porting”); the addition or removal of a borrower for joint mortgages; an extension of the term; a change in payment method; or consent to let the property. This list is not exhaustive.(2) Examples of rate changes in MCOB 4.8A.10R (1)(b) are: a transfer from a variable rate to a fixed rate; and a transfer from one fixed rate to another fixed rate.(3) Firms are reminded that, if their presentation
(1) An issuer that has the listing of any of its securities suspended may request the FCA to have them restored.(2) The request should be made sufficiently in advance of the time and date the issuer wishes the securities to be restored.(3) Requests received for when the market opens should allow sufficient time for the FCA to deal with the request.(4) The request may be an oral request. The FCA may require documentary evidence that the events that lead to the suspension are no
(1) An application to the FCA to dispense with or modify, a transparency rule must be in writing.(2) The application must:(a) contain a clear explanation of why the dispensation or modification is requested;(b) include details of any special requirements, for example, the date by which the dispensation or modification is required;(c) contain all relevant information that should reasonably be brought to the FCA's attention;(d) contain any statement or information that is required
1The table below sets out the period within which a firm's tariff base is calculated (the data period) for second year levies calculated under FEES 5.8.2R. The example is based on a firm that acquires permission on 1 November 20146and has a financial year ending 31 March. Where valuation dates fall before the firm receives permission it should use projected valuations in calculating its levies.
References in this table to dates or months are references to the latest one occurring before the start of the FCA's financial year unless otherwise stated.
6Type of permission acquired on 1 November |
Tariff base |
Valuation date but for FEES 5.8.2R |
Data period under FEES 5.8.2R |
Insurers - general |
Relevant annual gross premium income and gross technical liabilities6 |
31 March 20146- so projected valuations will be used 6 |
1 November to 31 December 20146. 6 |
Portfolio managers (including those holding client money/ assets and not holding client money/ assets) 6 |
Relevant funds under management |
Valued at 31 December |
Valued at 31 December |
Advisers,6arrangers, dealers or brokers holding and controlling client money and/or assets 6 |
Annual income as defined in FEES 4 Annex 11A6 6 |
31 December. 6 This is because the firm's tariff base is calculated by reference to the firm's financial year end in the calendar year before the start of the FCAfee year. Therefore FEES 5.8.2R (3)(c) applies. 6 6 |
1 November to 31 December but annualised in accordance with FEES 5.8.2R (3)(c)(iii)6 6 |