Related provisions for DEPP 1.2.8
21 - 40 of 156 items.
(1) 1A firm's up-to-date list of mandates under CASS 8.3.2 R (1) must be maintained in a medium that allows the storage of information in a way accessible for future reference by the FCA or by an auditor preparing a report under SUP 3.10.4 R.(2) It must be possible for any corrections or other amendments, and the contents of the list prior to such corrections and amendments, to be easily ascertained.
Exposures include not only principal amounts borrowed under facilities but also interest accrued which will fluctuate between payment dates. To ensure proper coverage of interest, the FCA expects firms to take the following approach:(1) accrued interest to date should be included in current exposure for performing exposures;(2) firms may choose whether estimated increases in accrued interest up to the time of default should be included in LGD or EAD;(3) in the estimation of EAD,
To be satisfied that the requirements in article 179(1) of the EU CRR are met, the FCA expects a firm to collect data on what it considers to be the main drivers of the risk parameters of probability of default (PD), loss given default (LGD), conversion factors (CFs) and expected loss (EL) for each group of obligors or facilities, to document the identification of the main drivers of risk parameters, and be able to demonstrate that the process of identification is reasonable and
The governing body (or, where appropriate, the remuneration committee) should approve performance adjustment policies, including the triggers under which adjustment would take place. The FCA may ask firms to provide a copy of their policies and expects firms to make adequate records of material decisions to operate the adjustments.
(1) 1A Solvency II firm must have, and maintain, a governance map which satisfies the following conditions:(a) it complies with PRA Rulebook: Solvency II firms: Insurance – Allocation of Responsibilities, 5.1 and 5.2, as if those rules had been made by the FCA; (b) it includes details relating to all persons carrying out a significant influence function within the firm not already included under (a);(c) the details in (b) must give as much information as required by the PRA Rulebook:
For the purpose of inclusion in the public record maintained by the FCA, a firm must:10(1) provide the FCA, at the time of its authorisation, with details of a single contact point within the firm for complainants; and10(2) notify the
FCA
of any subsequent change in those details when convenient and, at the latest, in the firm's next report under the complaints reporting rules.10
Behaviour
of the type referred to in APER 4.1.3 E includes, but is not limited to, deliberately:(1) falsifying documents;(2) misleading
a client about the risks of
an investment;(3) misleading
a client about the charges or
surrender penalties of investment products;(4) misleading
a client about the likely performance
of investment products by providing
inappropriate projections of
future investment returns;(5) misleading
a client by informing him that
products require only a single
(1) Variable remuneration may be justified, for example, to incentivise employees involved in new business ventures which could be loss-making in their early stages.(2) The governing body (or, where appropriate, the remuneration committee) should approve performance adjustment policies, including the triggers under which adjustment would take place. The appropriate regulator may ask firms to provide a copy of their policies and expects firms to make adequate records of material
In having regard to the cost implications of using the section 166 power (Reports by skilled persons) or the section 166A power (Appointment of skilled person to collect and update information) 6alternative options (such as visits) or other powers, the appropriate regulator6will take into account relevant factors, including:6(1) whether the firm may derive some benefit from the work carried out and recommendations made by the skilled person, for instance a better understanding
The FCA expects a firm to ensure that all documentation relating to its rating systems (including any documentation referenced in this chapter or required by the EU CRR that relate to the IRB approach) is stored, arranged and indexed in such a way that it could make them all, or any subset thereof, available to the FCA immediately on demand or within a short time thereafter.