Related provisions for DISP App 1.6.5
21 - 40 of 156 items.
The purpose of the requirements in DTR 8 is to make the Part 6 rules permitted under section 89P of the Act in relation to primary information providers and persons applying for approval as primary information providers. [Note: When exercising its functions under Part VI of the Act, the FCA may use the name: the UK Listing Authority.][Note: Other parts of the Handbook that may also be relevant to primary information providers include DEPP (Decision Procedure and Penalties manual)
The FCA will approve a person as a primary information provider only if it is satisfied that the person will be able to:(1) disseminate regulated information in a manner ensuring fast access to regulated information on a non-discriminatory basis; and(2) satisfy the continuing obligations set out in DTR 8.4.
The periodic fee referred to in FEES 4.3.1 R is (except in relation to the Society,10fee-paying payment service providers and fee-paying electronic money issuers)107 calculated as follows:(1) identify each of the tariffs set out in Part 1 of FEES 4 Annex 2AR1726 which apply to the business of the firm for the period specified in that annex;26(2) for each of the applicable26 tariffs, calculate the sum payable in relation to the business of the firm for that period;269(3) add together
(1) [deleted]17262612112626111126(1A) [deleted] 1726(1B) [deleted] 1726(1C) 17If a person meets either of the conditions in (1D) it must pay the FCA the fee in (1E).(1D) 17A person meets the conditions referred to in (1C) if:(a) its periodic fee for the previous fee year was at least £50,000 and it is:(i) an FCA-authorised person; or(ii) a designated professional body; or(iii) a recognised investment exchange; or(iv) a regulated covered bondissuer; or(b) it is a PRA-authorised
(1) If:(a) a firm makes an application to vary its permission (by reducing its scope), or cancel it, in the way set out in SUP 6.3.15 D (3) (Variation of permission) and SUP 6.4.5 D (Cancellation of permission), or applies to vary (by reducing its scope) or cancel its authorisation or registration (regulation 8 and 10(1) of the Payment Services Regulations including as applied by regulation 14 of the Payment Services Regulations) or applies to cancel its authorisation or registration
(1) FEES applies to all persons required to pay a fee or levy under a provision of the Handbook. The purpose of this chapter is to set out to whom the rules and guidance in FEES apply. 30(2) FEES 2 (General Provisions) contains general provisions which may apply to any type of fee payer.30(3) FEES 3 (Application, Notification and Vetting Fees) covers one-off fees payable on a particular event for example:3330(a) 33various application fees (including those in relation to authorisation,
(1) 467In accordance with regulation 2317 of the Money Laundering Regulations, with effect from 26 June 201717 , a firm is required to notify the FCA:201111111120(a) before it begins or within 28 days of it beginning11; and(b) immediately11 after it ceases;11to operate a money service business or a trust or company service provider.1111(2) The notification referred to in (1) should be made in accordance with the requirements in SUP 15.7 (Form and method of notification)
467A firm which is already operating a money service business or a trust or company service provider11 immediately before 26 June 201717 is required by the Money Laundering Regulations to notify the FCA20 of that fact within 30 days17 and should do so in the manner specified in SUP 15.8.4 G(2)17.1111112011
(1) 9If a firm begins or ceases to hold itself out as acting as a CTF provider, it must notify the FCA20 as soon as reasonably practicable that it has done so.20(2) A firm that acts as a CTF provider must provide theFCA,20 as soon as reasonably practicable, with details of:20(a) any third party administrator that it engages;(b) details of whether it intends to offer HMRC allocated CTFs12; and12(c) whether it intends to provide its own stakeholder CTF account.
PERG 8.4.9 G to PERG 8.4.34 G apply the principles in PERG 8.4.4 G to PERG 8.4.7 G to communications made in certain circumstances. They do not seek to qualify those principles in any way. A common issue in these circumstances arises when contact details are given (for example, of a provider of investments or investment services). In the FCA's view, the inclusion of contact details should not in itself decide whether the item in which they appear is an inducement or, if so, is
Ordinary telephone directory entries which merely list names and contact details (for example where they are grouped together under a heading such as ‘stockbrokers’) will not be inducements. They will be sources of information. Were they to be presented in a promotional manner or accompanied by promotional material they would be capable of being inducements. Even so, they may merely be inducements to make contact with the listed person. Specialist directories such as ones providing
Employers and their contracted service providers 6may communicate with employees on matters which involve controlled investments. For example, work-related insurance, staff mortgages,6personal pension schemes (including stakeholder schemes) and other employee benefit schemes other than occupational pension schemes. Interests under the trusts of an occupational pension scheme are not a controlled investment (see paragraph 27 (2) of Schedule 1 to the Financial Promotion Order).In
This chapter does not apply to:66(1) an EEA firm that wishes to exercise an EEA right unless it is:136(a) an incoming data reporting services provider connecting to the market data processor system; or13(b) an EEA firm connecting to the market data processor system; or13(2) an EEA authorised payment institution; or6(3) an EEA authorised electronic money institution.6
(1) The periodic fees for collective investment schemes reflect the estimated costs to the FCA of considering proposals to change regulated collective investment schemes, maintaining up to date records about them, and related policy work.(2) [deleted]828(3) The periodic fees for fee-paying payment service providers, fee-paying electronic money issuers, CBTL firms12and issuers of regulated covered bonds7are set out in FEES 4 Annex 11R12. This annex sets out the activity groups,
1This chapter applies to:(1) a UKperson (that is a person whose registered office or head office is located in the UK) seeking authorisation to provide a data reporting service;(2) a UK branch of a third countryperson seeking authorisation to provide a data reporting service ;1(3) a UKMiFID investment firm operating a trading venue seeking verification of its rights to provide a data reporting service under regulation 5(b) or (c) of the DRS Regulations;1(4) a UK RIE seeking verification
Title V of MiFID sets out harmonised market data services authorisation and supervision requirements. These are designed to ensure a necessary level of quality of trading activity information across EU financial markets for users, and for competent authorities to receive accurate and comprehensive information on relevant transactions. These requirements provide for:(1) approved publication arrangements (APAs) to: (a) improve the quality of trade transparency information published
This table belongs to MCOB 9.1.1 R
(1) Category of firm |
(2) Applicable section |
1MCOB 9.1 - MCOB 9.4.132 R, MCOB 9.5 - MCOB 9.82 2 |
|
MCOB 9.1, MCOB 9.2, MCOB 9.6 and 2 |
|
MCOB 9.1 - MCOB 9.4.132 R2and MCOB 9.8.5 R - MCOB 9.8.10 R 22 |
|
MCOB 9.1 - MCOB 9.4.17A R, MCOB 9.4.133 R -MCOB 9.6; MCOB 9.9 |
|
MCOB 9.1 - MCOB 9.4.17A R, MCOB 9.4.133 R - MCOB 9.4.176 G; MCOB 9.9.8 R |
1The Payment Accounts Regulations 2015 (“the PARs”) implement the Payment Accounts Directive. They entitle consumers who hold a payment account (such as a current account) to receive certain information about the fees and charges applied to that account. They also entitle consumers to use a switching service which meets certain minimum standards, if they wish to change their payment account to another provider.
The PARs impose various obligations on payment account providers, such as a duty to disclose certain information when offering a packaged account to a consumer (i.e. the costs and fees of the products or services included in the package). They also introduce an obligation to offer a switching service between payment accounts. The PARs also require credit institutions designated by Her Majesty’s Treasury to provide eligible consumers with access to basic banking services.
(1) For the purposes of DEPP 6A,
"suspension" refers to the suspension of:2(a) any permission which
an authorised person has to carry
on a regulated activity (under
sections 123B or4 206A of the Act),2(b) any approval of the performance
by an approved person of any
function to which the approval relates (under section 66 of the Act),2(c) a sponsor's approval
(under section 88A(2)(b) of the Act),2(d) and a primary
information provider's approval (under section 89Q(2)(b) of
the
The powers to impose a suspension, restriction, condition or limitation3 in relation
to authorised persons and approved persons, and to impose a disciplinary prohibition in relation to individuals,4 are disciplinary measures;2 where the FCA2 considers it necessary to take action, for example, to protect consumers from an authorised
person, the FCA2 will seek to cancel or vary the authorised
person'spermissions.
If the FCA2 has
concerns with a person's fitness
to be approved, and
12The FSCS must allocate any compensation costs levy:(1) first, to the relevant classes in proportion to the amount of compensation costs arising from, or expected to arise from, claims in respect of the different activities for which firms in those classes have permission up to the levy limit of each relevant class. The FCA provider contribution classes are not relevant classes for this purpose; and(2) thereafter, where the levy limit has been reached (whether as a result of
12The FSCS must calculate each participant firm's share of a compensation costs levy (subject to FEES 6.3.22 R (Adjustments to calculation of levy shares)) by:(1) identifying each of the relevant classes to which each participant firm belongs, using the statement of business most recently supplied under FEES 6.5.13 R (1);(2) identifying the compensation costs falling within FEES 6.5.1 R allocated, in accordance with FEES 6.5.2 R, to the classes identified in (1);(3) calculating,
(1) The FCA may dispense with, or modify, a requirement in DTR 8 in such cases and by reference to such circumstances as it considers appropriate (subject to the Act).(2) A dispensation or modification may be either unconditional or subject to specified conditions.(3) If a primary information provider or a person that is applying for approval as a primary information provider has applied for, or been granted, a dispensation or modification, it must notify the FCA immediately it
A primary information provider or a person applying for approval as a primary information provider must consult with the FCA at the earliest possible stage if they:(1) are in doubt about how a requirement in DTR 8 applies in a particular situation; or(2) consider that it may be necessary for the FCA to dispense with or modify a requirement in DTR 8.
3The provisions in this sourcebook that apply to home reversion plans should be read in a purposive way. This means that firms should substitute equivalent home reversion terminology for lifetime mortgage terminology, where appropriate. Examples of terms and expressions that must be replaced are 'loan' or 'amount borrowed', which should be replaced with 'amount released' or 'amount to be released', as appropriate, and 'mortgage lender' and 'mortgage intermediary' which should
Parts of MCOB relate to distance contracts (or distance mortgage mediation contracts and distance home purchase mediation contracts2) with consumers3. These expressions are derived from the Distance Marketing Directive, and the following paragraphs provide some guidance to firms on their meaning:3(1) consumer3The Distance Marketing Directive applies for distance contracts with 'any natural person who is acting for purposes which are outside his trade, business or profession',
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