Related provisions for TC 2.1.5G

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COBS 14.3.7AGRP
4Examples of information a firm should provide to explain the specific nature and risks of a P2P agreement include:(1) expected and actual default rates in line with the requirements in COBS 4.6 on past and future performance;(2) a summary of the assumptions used in determining expected future default rates;(3) a description of how loan risk is assessed, including a description of the criteria that must be met by the borrower before the operator of the electronic system in relation
COBS 14.3.7BGRP
6The guidance in COBS 14.3.7AG is relevant both to firms which are operators of electronic systems in relation to lending and firmsadvising on P2P agreements.
CONC 6.7.1RRP
(1) This section applies to a firm with respect to consumer credit lending.(2) CONC 6.7.17 R to CONC 6.7.26 R also apply to a firm with respect to operating an electronic system in relation to lending in relation to a borrower under a P2P agreement and references in those provisions to a firm refinancing an agreement refer to any action taken by an operator of an electronic system in relation to lending which has the result that a P2P agreement is refinanced.(3) 7CONC 6.7.3AR
CONC 6.7.20RRP
Before a firm agrees to refinance high-cost short-term credit, it must: (1) give or send an information sheet to the customer; and(2) where reasonably practicable to do so, bring the sheet to the attention of the customer before the refinance;in the form of the arrears information sheet issued by the FCA referred to in section 86A of the CCA with the following modifications:(3) for the title and first sentence of the information sheet substitute:“High-cost short-term loansFailing
CONC 6.7.25ARRP
(1) 2Paragraph (2) applies if an individual other than the borrower (in this rule referred to as “the guarantor”) has: (a) provided a guarantee or an indemnity (or both) in relation to: (i) a regulated credit agreement; or(ii) a P2P agreement in respect of which the borrower is an individual; and(b) granted a continuous payment authority.(2) CONC 6.7.24R and CONC 6.7.25R apply in respect of the guarantor as if references to the customer were references to the guarantor.(3) For
CONC 7.18.1RRP
This section applies to a firm with respect to operating an electronic system in relation to lending in relation to a borrower under a P2P agreement for running account credit.
CONC 7.18.3RRP
(1) The firm must, when the firm next sends a statement to the borrower, give or send the borrower a notice including the information set out in CONC 7.18.5 R.(2) A firm must accompany the notice required by (1) with a copy of the current arrears information sheet under section 86A of the CCA with the following modifications:(-a) for the heading “Arrears” substitute “Arrears – peer-to-peer lending”;1(a) for the bullet point headed “Work out how much money you owe” substitute:“Work
SUP 16.12.4RRP

Table of applicable rules containing data items4, frequency and submission periods

(1)

(2)

(3)

(4)

RAGnumber

Regulated Activities

Provisions containing:

applicabledata items

reporting frequency/ period

due date32

32
271212 37

RAG 1

• accepting deposits

meeting of repayment claims76

managing dormant account funds (including the investment of such funds)76

RAG 1 firms should complete their prudential reporting requirements as set out in the PRA Rulebook.76

RAG 2.1

• effecting contracts of insurance

• carrying out contracts of insurance

• entering as provider into a funeral plan contract

71

2

71

2

71

2

RAG 2.2

• managing the underwriting capacity of a Lloyds syndicate as a managing agent at Lloyds

• advising on syndicate participation at Lloyds

• arranging deals in contracts of insurance written at Lloyds

SUP 16.12.9 R2

SUP 16.12.9 R2

SUP 16.12.9 R2

RAG 3

• dealing in investment as principal

• dealing in investments as agent

• advising on investments (except P2P agreements) 67 (excluding retail investment activities)

• arranging (bringing about) deals in investments (excluding retail investment activities)

• advising on P2P agreements (when carried on exclusively with or for professional clients)67

SUP 16.12.10 R2SUP 16.12.11 R78except FSA001 and FSA002 on consolidated basis for FINREP firms37

37

SUP 16.12.10 R2SUP 16.12.12 R78

37

SUP 16.12.10 R2SUP 16.12.13 R

RAG 4

• managing investments

• establishing, operating or winding up a collective investment scheme

• establishing, operating or winding up a stakeholder pension scheme

• establishing, operating or winding up a personal pension scheme2

• managing an AIF38

• managing a UCITS38

5

operating an electronic system in relation to lending (FCA-authorised persons only)48

3838

SUP 16.12.14 R2SUP 16.12.15 R78, except FSA001 and FSA002 on consolidated basis for FINREP firms37

37

SUP 16.12.14 R2SUP 16.12.16 R78

37

SUP 16.12.14 R2SUP 16.12.17 R

RAG 5

home finance administration or home finance providing activity11

11

76SUP 16.12.18BR 37 and SUP 16.12.18C R58

258

76SUP 16.12.18BR 37 and SUP 16.12.18C R58

258

76SUP 16.12.18BR 37 and SUP 16.12.18C R58

258

RAG 6

• safeguarding and administration of assets (without arranging)

• arranging safeguarding and administration of assets

acting as trustee or depositary of an AIF38

acting as trustee or depositary of a UCITS38

384038

SUP 16.12.19A R2

SUP 16.12.20 R2

SUP 16.12.21 R2

RAG 7

• retail investment activities

• advising on P2P agreements (except when carried on exclusively with or for professional clients)67

• advising on pensions transfers & opt-outs

• arranging (bringing about deals) in retail investments

SUP 16.12.22A R78except FSA001 and FSA002 on consolidated basis for FINREP firms37

37

SUP 16.12.23A R78

3737

SUP 16.12.24AR78

RAG 8

• making arrangements with a view to transactions in investments

• operating a multilateral trading facility4

• operating an organised trading facility35

SUP 16.12.25AR or SUP 16.12.25CR for UK designated investment firms except80 FSA001 and FSA002 on consolidated basis for FINREP firms80

377837

SUP 16.12.26 R

SUP 16.12.27 R

RAG 9

home finance mediation activity14

• insurance mediation activity (non-investment insurance contracts)

14

SUP 16.12.28A R14

SUP 16.12.28A R14

SUP 16.12.28A R14

RAG 10

• the activities of an RIE89

89

SUP 16.12.29 G2

SUP 16.12.29 G2

SUP 16.12.29 G232

32RAG 11

bidding in emissions auctions

SUP 16.12.29A R

SUP 16.12.29A R

SUP 16.12.29A R

47RAG 12 71

credit-related regulated activity

SUP 16.12.29C R

SUP 16.12.29C R

SUP 16.12.29C R

SUP 16.12.15RRP

The applicable data items referred to in SUP 16.12.4 R are set out76 according to firm type76 in the table below:

48Description of data item

Firms' prudential category and applicable data items (note 1)

IFPRU investment firms and BIPRU firms

Firms other than BIPRU firms or IFPRU investment firms

IFPRU

BIPRU

IPRU(INV) Chapter 3

IPRU(INV) Chapter 5

IPRU(INV) Chapter 9

IPRU(INV) Chapter 11 (collective portfolio management firms only)

IPRU(INV) Chapter 1248

IPRU(INV) Chapter 13

38

Solvency statement

No standard format

No standard format (Note 11)

No standard format

No standard format

38

Balance sheet

FSA001/FINREP (Notes 2 and 34)

FSA001 (Note 2)

FSA029

FSA029

FSA029

FSA029

FSA02948

FSA029 (note 15) or Section A RMAR (note 15)

38

Income statement

FSA002/FINREP (Notes 2 and 34)

FSA002 (Note 2)

FSA030

FSA030

FSA030

FSA030

FSA03048

FSA030 (note 15) or Section B RMAR (note 15)

38

Capital adequacy

COREP (Note 34)

FSA003 (Note 2)

FSA033

FSA034 or FSA035 or FIN07152 (note 14)

FSA031

FIN066

FIN06948

SectionD162 RMAR or FSA032 (note 15)

50
38

Supplementary capital data for collective portfolio management investment firms

FIN067 (Note 32)

FIN068 (Note 32)

Credit risk

COREP (Note 34)

FSA004 (Notes 2, 3)

Market risk

COREP (Note 34)50

FSA005 (Notes 2, 4)

Market risk - supplementary

FSA006 (note 5)

FSA006 (note 5)

Operational risk

COREP (Note 34)

Large exposures

COREP (Note 34)

Exposures between core UK group and non-core large exposures group

FSA018 (note 12)

Solo consolidation data

FSA016 (note 20)

FSA016 (Note 20)

Pillar 2 questionnaire

FSA019 (note 8)

FSA019 (Note 8)

Non-EEA subgroup

COREP (Note 34)

FSA028 (Note 9)

Threshold conditions

Section F RMAR (note 15)

Volumes and types of business (note 21)

FSA038

FSA038

FSA038

FSA038

FSA038

FSA038

FSA038

38

Client money and client assets

FSA039

FSA039

FSA039

FSA039

FSA039

FSA039

FSA03948

Section C RMAR (note 15) or FSA039

38

72

72

38

IRB portfolio risk

FSA045 (note 18)

FSA045 (Note 18)

Securitisation: non-trading book

COREP (Note 34)

FSA046 (Note 19)

Daily Flows

FSA047/COREP (Notes 23, 26, 28, 30 and 34)

Enhanced Mismatch Report

FSA048/COREP (Notes 23, 26, 28, 30 and 34)

Liquidity Buffer Qualifying Securities

FSA050/COREP (Notes 24, 27, 28, 30 and 34)

Funding Concentration

FSA051/COREP (Notes 24, 27, 28, 30 and 34)

Pricing data

FSA052/COREP (Notes 24, 28, 30, 31 and 34)

Retail and corporate funding

FSA053/COREP (Notes 24, 27, 28, 30 and 34)

Currency Analysis

FSA054/COREP (Notes 24, 27, 28, 30 and 34)

Systems and Controls Questionnaire

FSA055/COREP (Notes 25, 30 and 34) FSA055 (Notes 25 and 30)

FSA055 (Notes 25 and 30)

Securitisation: trading book48

COREP (Note 34)

FSA058 (Note 29)

Information on P2P agreements48

FIN07048

Note 1

All firms, except IFPRU investment firms in relation to data items reported under the EU CRR, when submitting the completed data item required, a firm must use the format of the data item set out in SUP 16 Annex 24 R. Guidance notes for completion of the data items are contained in SUP 16 Annex 25 G.

Note 2

Firms that are members of a UK consolidation group are also required to submit this report on a UK consolidation group basis.

Note 3

This applies to a firm that is required to submit data item FSA003 and at anytime within the 12 months up to its latest accounting reference date ("the relevant period"), was reporting data item FSA004 ("Firm A") or not reporting this item ("Firm B").

In the case of Firm A it must report this data item if one or both of its last two submissions in the relevant period show that the threshold was exceeded.

In the case of Firm B it must report this item if both the last two submissions in the relevant period show that the threshold has been exceeded.

The threshold is exceeded where data element 77A in data item FSA003 is greater than £10 million, or its currency equivalent, at the relevant reporting date for the firm.

Note 4

This applies to a firm that is required to submit data item FSA003 and at any time within the 12 months up to its latest accounting reference date ("the relevant period"), was reporting data item FSA005 ("Firm A") or not reporting this item ("Firm B").

In the case of Firm A it must report this data item if one or both of its last two submissions in the relevant period show that the threshold was exceeded.

In the case of Firm B it must report this item if both the last two submissions in the relevant period show that the threshold has been exceeded.

The threshold is exceeded where data element 93A in data item FSA003 is greater than £50 million, or its currency equivalent, at the relevant reporting date for the firm.

Note 5

Only applicable to firms with a VaR model permission.

Note 6

[deleted]

Note 7

[deleted]

Note 8

Only applicable to IFPRU investment firms and BIPRU firms that:80

(a) are subject to consolidated supervision under BIPRU 8, except those that are either included within the consolidated supervision of a group that includes a UK credit institution, or that have been granted an investment firm consolidation waiver; or

(b) have been granted an investment firm consolidation waiver;

or

(c) are not subject to consolidated supervision under BIPRU 8.80

An IFPRU investment firm and a BIPRU firm under (a) must complete the report on the basis of its UK consolidation group. An IFPRU investment firm and a BIPRU firm under (b) or (c) must complete the report on the basis of its solo position.

Note 9

This will be applicable to firms that are members of a UK consolidation group on the reporting date.

Note 10

[deleted]55

55

Note 11

Only applicable to a firm that is a sole trader or a partnership, when the report must be submitted by each partner.

Note 12

Only applicable to a firm that has both a core UK group and a non-core large exposures group.

Note 13

[deleted]55

55

Note 14

FSA034 must be completed by a firm not subject to the exemption in IPRU(INV) 5.4.2R74, unless it is a firm whose permitted business includes establishing, operating or winding up a personal pension scheme, in which case FIN071 must be completed76.

FSA035 must be completed by a firm subject to the exemption in IPRU(INV) 5.4.2R7476.

7452

Note 15

FSA029, FSA030, FSA032 and FSA039 only apply to a firm subject to IPRU(INV) Chapter 13 which is an exempt CAD firm.

Sections A, B, C, D162 and F RMAR only apply to a firm subject to IPRU(INV) Chapter 13 which is not an exempt CAD firm.

50

Note 16

[deleted]

Note 17

[deleted]

Note 18

Only applicable to firms that have an IRB permission.

Note 19

Only applicable to firms that hold securitisation positions, or are the originator or sponsor of securitisations of non-trading book exposures.

Note 20

Only applicable to a firm that has a solo consolidation waiver.

Note 21

[deleted]

Note 22

[deleted]72

Note 23

A firm must complete this item separately on each of the following bases (if applicable).

(1) It must complete it on a solo basis. Therefore even if it has a solo consolidation waiver it must complete the item on an unconsolidated basis by reference to the firm alone.

(2) If it is a group liquidity reporting firm in a DLG by default and is a UK lead regulated firm, it must complete the item on the basis of that group.

(3) If it is a group liquidity reporting firm in a UK DLG by modification, it must complete the item on the basis of that group.

(4) If it is a group liquidity reporting firm in a non-UK DLG by modification, it must complete the item on the basis of that group.

Note 24

A firm must complete this item separately on each of the following bases that are applicable.

(1) It must complete it on a solo basis unless it is a group liquidity reporting firm in a UK DLG by modification. Therefore even if it has a solo consolidation waiver it must complete the item on an unconsolidated basis by reference to the firm alone.

(2) If it is a group liquidity reporting firm in a UK DLG by modification, it must complete the item on the basis of that group.

Note 25

If it is a non-ILAS BIPRU firm, it must complete it on a solo basis. Therefore even if it has a solo consolidation waiver it must complete the item on an unconsolidated basis by reference to the firm alone.

Note 26

(1) This item must be reported in the reporting currency.

(2) If any data element is in a currency or currencies other than the reporting currency, all currencies (including the reporting currency) must be combined into a figure in the reporting currency.

(3) In addition, all material currencies (which may include the reporting currency) must each be recorded separately (translated into the reporting currency). However if:

(a) the reporting frequency is (whether under a rule or under a waiver) quarterly or less than quarterly; or

(b) the only material currency is the reporting currency;

(3) does not apply.

(4) If there are more than three material currencies for this data item, (3) only applies to the three largest in amount. A firm must identify the largest in amount in accordance with the following procedure.

(a) For each currency, take the largest of the asset or liability figure as referred to in the definition of material currency.

(b) Take the three largest figures from the resulting list of amounts.

(5) The date as at which the calculations for the purposes of the definition of material currency are carried out is the last day of the reporting period in question.

(6) The reporting currency for this data item is whichever of the following currencies the firm chooses, namely USD (the United States Dollar), EUR (the euro), GBP (sterling), JPY (the Japanese Yen), CHF (the Swiss Franc), CAD (the Canadian Dollar) or SEK (the Swedish Krona).

Note 27

Note 26 applies, except that paragraphs (3), (4), and (5) do not apply, meaning that material currencies must not be recorded separately.

Note 28

Any changes to reporting requirements caused by a firm receiving an intra-group liquidity modification (or a variation to one) do not take effect until the first day of the next reporting period applicable under the changed reporting requirements for the data item in question if the firm receives that intra-group liquidity modification or variation part of the way through such a period. If the change is that the firm does not have to report a particular data item or does not have to report it at a particular reporting level, the firm must nevertheless report that item or at that reporting level for any reporting period that has already begun. This paragraph is subject to anything that the intra-group liquidity modification says to the contrary.

Note 29

Only applicable to firms that hold securitisation positions in the trading book and/or are the originator or sponsor of securitisations held in the trading book.

Note 30

FSA047, FSA048, FSA050, FSA051, FSA052, FSA053 and FSA054 must be completed by an ILAS BIPRU firm. An ILAS BIPRU firm does not need to complete FSA055. A non-ILAS BIPRU firm must complete FSA055 and does not need to complete FSA047, FSA048, FSA050, FSA051, FSA052, FSA053 and FSA054.

Note 31

This data item must be reported only in the currencies named in FSA052, so that liabilities in GBP are reported in GBP in rows 1 to 4, those in USD are reported in USD in rows 5 to 8, and those in Euro are reported in Euro in rows 9 to 12. Liabilities in other currencies are not to be reported.

Note 32

Only applicable to firms that are collective portfolio management investment firms.

Note 33

Only applicable to firms that have a managing investmentspermission.

Note 34

Requirements under COREP and FINREP should be determined with reference to the EU CRR and applicable technical standards.

SUP 16.12.22ARRP

2The applicable data items referred to in SUP 16.12.4 R are set out according to type of firm in the table below:

45Description ofData item

Firms' prudential category and applicable data item (note 1)

IFPRU

BIPRU firm

Exempt CAD firmssubject toIPRU(INV)Chapter 13

Firms(other thanexempt CAD firms) subject toIPRU(INV)Chapter 13

Firmsthat are also in one or more ofRAGs1 to 6 and not subject toIPRU(INV)Chapter 13

Solvency statement

No standard format (note 11)

Balance Sheet

FSA001/FINREP (Notes 2 and 29)

FSA001 (Note 2)

FSA029

Section A RMAR

Income Statement

FSA002/FINREP (Notes 2 and 29)

FSA002 (Note 2)

FSA030

Section B RMAR

Capital Adequacy

COREP (Note 29)

FSA003 (Note 2)

FSA032

Section D1 62 RMAR (Note 23)

5050

Credit risk

COREP (Note 29)

FSA004 (Notes 2, 3)

Market risk

COREP (Note 29)

FSA005 (Notes 2, 4)

Market risk - supplementary

FSA006 (note 5)

FSA006 (Note 5)

Operational risk

COREP (Note 29)

Large exposures

COREP (Note 29)

Exposures between core UK group and non-core large exposures group

FSA018 (note 12)

Solo consolidation data

FSA016

FSA016

Pillar 2 questionnaire

FSA019 (note 8)

FSA019 (Note 8)

Non-EEA sub-group

COREP (Note 29)

FSA028 (Note 9)

Professional indemnity insurance (note 15)

Section E RMAR

Section E RMAR

Section E RMAR

Section E RMAR

Threshold Conditions

Section F RMAR

Section F RMAR

Training and Competence

Section G RMAR

Section G RMAR

Section G RMAR

Section G RMAR

Section G RMAR

COBS data

Section H RMAR

Section H RMAR

Section H RMAR

Section H RMAR

Section H RMAR

Client money and client assets

Section C RMAR

Section C RMAR

Section C RMAR

Section C RMAR

Fees and levies

Section J RMAR

Section J RMAR

Section J RMAR

Section J RMAR

Adviser charges

Section K RMAR (Note 26)

Section K RMAR (Note 26)

Section K RMAR (Note 26)

Section K RMAR (Note 26)

Section K RMAR (Note 26)

IRB portfolio risk

FSA045 (note 13)

FSA045 (Note 13)

Securitisation: non-trading book

COREP (note 29)

FSA046 (Note 14)

Daily Flows

FSA047/COREP (Notes 16, 19, 21, 24 and 29)

Enhanced Mismatch Report

FSA048/COREP (Notes 16, 19, 21, 24 and 29)

Liquidity Buffer Qualifying Securities

FSA050/COREP (Notes 17, 20, 21, 24 and 29)

Funding Concentration

FSA051/COREP (Notes 17, 20, 21, 24 and 29)

Pricing data

FSA052/COREP (Notes 17, 20, 21, 24 and 29)

Retail and corporate funding

FSA053/COREP (Notes 17, 20, 21, 24 and 29)

Currency Analysis

FSA054/COREP (Notes 17, 20, 21, 24 and 29)

Systems and Controls Questionnaire

FSA055/COREP (Notes 18, 24 and 29)

FSA055 (Notes 18 and 24)

Securitisation: trading book

COREP (Note 29)

FSA058 (Note 22)

Supplementary capital data for collective portfolio management investment firms

FIN067 (Note 28)

FIN068 (Note 28)

Note 1

When submitting the completed data item required, a firm must use the format of the data item set out in SUP 16 Annex 24 R, or SUP 16 Annex 18A R in the case of the RMAR. Guidance notes for completion of the data items are contained in SUP 16 Annex 25 G, or SUP 16 Annex 18B G in the case of the RMAR.

Note 2

Firms that are members of a UK consolidation group are also required to submit this report on a UK consolidation group basis.

Note 3

This applies to a firm that is required to submit data item FSA003 and, at any time within80 the 12 months up to its latest accounting reference date ("the relevant period"), was reporting data item FSA004 ("Firm A") or not reporting this item ("Firm B").

In the case of Firm A it must report this data item if one or both of its last two submissions in the relevant period show that the threshold was exceeded.

In the case of Firm B it must report this item if both the last two submissions in the relevant period show that the threshold has been exceeded.

The threshold is exceeded where data element 77A in data item FSA003 is greater than £10 million, or its currency equivalent, at the relevant reporting date for the firm.

5555

Note 4

This applies to a firm that is required to submit data item FSA003 and, at any time within the 12 months up to its latest accounting reference date ("the relevant period"), was reporting data item FSA005 ("Firm A") or not reporting this item ("Firm B").

In the case of Firm A it must report this data item if one or both of its last two submissions in the relevant period show that the threshold was exceeded.

In the case of Firm B it must report this item if both the last two submissions in the relevant period show that the threshold has been exceeded.

The threshold is exceeded where data element 93A in data item FSA003 is greater than £50 million, or its currency equivalent, at the relevant reporting date for the firm.

Note 5

Only applicable to firms with a VaR model permission.

Note 6

[deleted]

Note 7

[deleted]

Note 8

Only applicable to IFPRU investment firms and BIPRU firms that:

(a) are subject to consolidated supervision under BIPRU 8, except those that are either included within the consolidated supervision of a group that includes a UK credit institution, or that have been granted an investment firm consolidation waiver; or

(b) have been granted an investment firm consolidation waiver; or

(c) are not subject to consolidated supervision under BIPRU 8.

An IFPRU investment firm and a BIPRU firm under (a) must complete the report on the basis of its UK consolidation group. An IFPRU investment firm and a BIPRU firm under (b) or (c) must complete the report on the basis of its solo position.

Note 9

This will be applicable to firms that are members of a UK consolidation group on the reporting date.

Note 10

[deleted]55

55

Note 11

Only applicable to a firm that is a sole trader or a partnership, when the report must be submitted by each partner.

Note 12

Only applicable to a firm that has both a core UK group and a non-core large exposures group.

Note 13

Only applicable to firms that have an IRB permission.

Note 14

Only applicable to firms that hold securitisation positions, or are the originator or sponsor of securitisations of non-trading bookexposures.

Note 15

This item only applies to firms that are subject to an FCA requirement to hold professional indemnity insurance and are not exempt CAD firms.

Note 16

A firm must complete this item separately on each of the following bases (if applicable).

(1) It must complete it on a solo basis. Therefore even if it has a solo consolidation waiver it must complete the item on an unconsolidated basis by reference to the firm alone.

(2) If it is a group liquidity reporting firm in a DLG by default and is a UK lead regulated firm, it must complete the item on the basis of that group.

(3) If it is a group liquidity reporting firm in a UK DLG by modification, it must complete the item on the basis of that group.

(4) If it is a group liquidity reporting firm in a non-UK DLG by modification, it must complete the item on the basis of that group.

Note 17

A firm must complete this item separately on each of the following bases that are applicable.

(1) It must complete it on a solo basis unless it is a group liquidity reporting firm in a UK DLG by modification. Therefore even if it has a solo consolidation waiver it must complete the item on an unconsolidated basis by reference to the firm alone.

(2) If it is a group liquidity reporting firm in a UK DLG by modification, it must complete the item on the basis of that group.

Note 18

If it is a non-ILAS BIPRU firm, it must complete it on a solo basis. Therefore even if it has a solo consolidation waiver it must complete the item on an unconsolidated basis by reference to the firm alone.

Note 19

(1) This item must be reported in the reporting currency.

(2) If any data element is in a currency or currencies other than the reporting currency, all currencies (including the reporting currency) must be combined into a figure in the reporting currency.

(3) In addition, all material currencies (which may include the reporting currency) must each be recorded separately (translated into the reporting currency). However if:

(a) the reporting frequency is (whether under a rule or under a waiver) quarterly or less than quarterly; or

(b) the only material currency is the reporting currency;

(3) does not apply.

(4) If there are more than three material currencies for this data item, (3) only applies to the three largest in amount. A firm must identify the largest in amount in accordance with the following procedure.

(a) For each currency, take the largest of the asset or liability figure as referred to in the definition of material currency.

(b) Take the three largest figures from the resulting list of amounts.

(5) The date as at which the calculations for the purposes of the definition of material currency are carried out is the last day of the reporting period in question.

(6) The reporting currency for this data item is whichever of the following currencies the firm chooses, namely USD (the United States Dollar), EUR (the euro), GBP (sterling), JPY (the Japanese Yen), CHF (the Swiss Franc), CAD (the Canadian Dollar) or SEK (the Swedish Krona).

Note 20

Note 19 applies, except that paragraphs (3), (4) and (5) do not apply, meaning that material currencies must not be recorded separately.

Note 21

Any changes to reporting requirements caused by a firm receiving an intra-group liquidity modification (or a variation to one) do not take effect until the first day of the next reporting period applicable under the changed reporting requirements for the data item in question if the firm receives that intra-group liquidity modification or variation part of the way through such a period. If the change is that the firm does not have to report a particular data item or does not have to report it at a particular reporting level, the firm must nevertheless report that item or at that reporting level for any reporting period that has already begun. This paragraph is subject to anything that the intra-group liquidity modification says to the contrary.

Note 22

Only applicable to firms that hold securitisation positions in the trading book and/ or are the originator or sponsor of securitisations held in the trading book.

Note 23

Where a firm submits data items for both RAG 7 and RAG 9, the firm must complete Section D1.73

Note 24

FSA047, FSA048, FSA050, FSA051, FSA052, FSA053 and FSA054 must be completed by an ILAS BIPRU firm. An ILAS BIPRU firm does not need to complete FSA055. A non-ILAS BIPRU firm must complete FSA055 and does not need to complete FSA047, FSA048, FSA050, FSA051, FSA052, FSA053 and FSA054.

Note 25

This data item must be reported only in the currencies named in FSA052, so that liabilities in GBP are reported in GBP in rows 1 to 4, those in USD are reported in USD in rows 5 to 8, and those in Euro are reported in Euro in rows 9 to 12. Liabilities in other currencies are not to be reported.

Note 26

This item only applies to firms that provide advice on retail investment products and P2P agreements67.

Note 27

[deleted]51

Note 28

Only applicable to firms that are collective portfolio management investment firms.

Note 29

Requirements under COREP and FINREP should be determined with reference to the EU CRR and applicable technical standards.

CONC 3.7A.2RRP
(1) A firm must, in any relevant communication, indicate the extent of its powers, in particular whether it works exclusively with one or more lenders (including, for example, if it works exclusively with lenders who are participants in the electronic system that the firm operates) or whether it works as an independent broker.[Note: article 21(a) of the Consumer Credit Directive](2) In this rule, a “relevant communication” means a financial promotion or a document which:(a) is
CONC 3.11.1RRP
This section applies to a financial promotion in relation to a credit agreement, credit broking, debt counselling, debt adjusting and operating an electronic system in relation to lending in relation to prospective borrowers or borrowers under P2P agreements.
CONC 6.1.2GRP
(1) CONC 6.2, CONC 6.5 and CONC 6.7 apply to firms with respect to consumer credit lending.(2) CONC 6.3 applies to current account agreements that would be regulated credit agreements if the customer overdraws on the account.(3) CONC 6.4 and CONC 6.6 apply to firms which carry on consumer credit lending in relation to regulated credit agreements and firms which carry on consumer hiring in relation to regulated consumer hire agreements.(4) CONC 6.7.17 R to CONC 6.7.26 R also apply
CONC 8.10.1RRP
This section applies to: (1) a firm with respect to providing credit information services in relation to information relevant to the financial standing of an individual;(2) a firm with respect to the activities set out in article 36H(3)(e) to (h) of the Regulated Activities Order (Operating an electronic system in relation to lending) in relation to a borrower under a P2P agreement.
PERG 2.11.7GRP
(1) 4Under paragraph 54A(1) of the Schedule to the Exemption Order, a person who serves, or takes steps to serve, a document on a borrower or a hirer for the purposes of legal proceedings, including arbitration and insolvency proceedings, brought or to be brought for the payment of a debt due under a credit agreement, a P2P agreement or a consumer hire agreement is exempted from debt collecting, as long as the person:(a) is not the lender or owner under the agreement; and(b) does
PERG 2.8.6DGRP
(1) 9An activity of a kind specified below is excluded from the regulated activity of operating an electronic system in relation to lending:18(a) dealing in investments as principal;(b) arranging (bringing about) deals in investments;(c) making arrangements with a view to transactions in investments;(d) managing investments; and18(e) advising on investments (except P2P agreements)18.(1A) The regulated activity of advising on P2P agreements does not apply where such advice is given
PERG 2.8.7DGRP
18The regulated activity of advising on P2P agreements does not apply in so far as the advice is given in the course of carrying on an activity of a kind specified by:(1) article 39F of the Regulated Activities Order (debt collecting); or(2) article 39G of the Regulated Activities Order (debt administration);by a person carrying on that activity not in contravention of the general prohibition.
CONC 3.10.1RRP
This section applies:(1) to a financial promotion in relation to consumer credit lending, credit broking, debt counselling, debt adjusting, operating an electronic system in relation to lending1in relation to prospective borrowers or borrowers1under P2P agreements;1(2) in relation to the communication of a financial promotion that is not in writing.
The total value of loaned funds outstanding is the total amount of funds that are currently being provided to borrowers under P2P agreements through an operator of an electronic system in relation to lending.
PERG 8.24.1GRP
Under article 53(1)1 of the Regulated Activities Order, for anyone except a person in PERG 8.24.1AG,4advising on investments (except P2P agreements)1 covers advice which:(1) is given to a person in his capacity as an investor or potential investor, or in his capacity as agent for an investor or a potential investor; and(2) is advice on the merits of his (whether as principal or agent):42(a) 4buying, selling, subscribing for, exchanging, redeeming, holding4 or underwriting a particular
PERG 7.1.1GRP
This chapter applies to anyone involved in publishing periodicals, or in providing news services or broadcasts, who gives (or proposes to give) advice about securities, structured deposits,4relevant investments, P2P agreements,4home finance transactions1or certain pension transfers or conversions4 and who wishes to determine whether he will be carrying on the regulated activities of advising on investments, advising on regulated credit agreements for the acquisition of land2 oradvising
SUP 16.1.3RRP

Application of different sections of SUP 16 (excluding49 SUP 16.13, SUP 16.15, SUP 16.16 and SUP 16.17) 425939and SUP 16.2239)27

8889999

(1) Section(s)

(2) Categories of firm to which section applies

(3) Applicable rules and guidance

SUP 16.1,SUP 16.2andSUP 16.3

All categories of firm except:

Entire sections

(a)

an ICVC;

(b)

an incoming EEA firm or incoming Treaty firm, which is not:

(i)

a firm of a type to which SUP 16.6 or 20SUP 16.1220 applies; or

(ii)

an insurer with permission to effect or carry out life policies49; orcarry outlife policies; or

(iii)3

a with to establish, operate or wind up a stakeholder pension scheme;14a firm with permission to establish, operate or wind up a personal pension scheme or a stakeholder pension scheme;14 or39

39(iv)

a payment service provider to which SUP 16.22 applies; and

(c)

a UCITS qualifier.

SUP 16.4 and SUP 16.52

All categories of firm except:

Entire sections

(-a)

a credit union;2

(a)

an ICVC;

(b)

an incoming EEA firm;

(c)

an incoming Treaty firm;

(d)

a non-directive friendly society;

(e)4

[deleted]4

(f)

a sole trader;

(g)

a service company;

(h)

a UCITS qualifier;8

8

(i)8

a firm with permission to carry on only retail investment activities;8

(ia)38

a firm with permission only to advise on P2P agreements (unless that activity is carried on exclusively with or for professional clients);38

(j)8

a firm with permission to carry on only insurance mediation activity, home finance mediation activity,16 or both;8

16

(ja)30

an FCA-authorised person with permission to carry on only credit-related regulated activity;

(k)8

a firm falling within a combination of (i), (ia),38 (j) and (ja). 30

30

46(l)

a firm with permission to carry on only the regulated activity of administering a benchmark;

SUP 16.6

Bank

27

SUP 16.6.4 R to SUP 16.6.5 R

41

41

36

41

41

2628

41

28

41

28

Depositary of an authorised fund41

SUP 16.6.6R to SUP 16.6.11R41

33SUP 16.7A

A firm subject to the requirement in SUP 16.7A.3 R or SUP 16.7A.5 R

Sections as relevant

SUP 16.8

Insurer with permission to effect or carry out life policies, unless it is a non-directive friendly society3

Entire section

3Firm with permission to establish, operate or wind up a personal pension scheme or a stakeholder pension scheme14

14

Entire section3

SUP 16.95

Firm with permission to advise on investments; arrange (bring about) deals in investments; make arrangements with a view to transactions in investments; or arrange safeguarding and administration of assets5

Entire section5

SUP 16.109

All categories of firm except:9

Entire section9

(a)9

an ICVC;9

(b)9

a UCITS qualifier; 21and42

(c)9

[deleted]42

219

21(d)

a dormant account fund operator.

32SUP 16.11

(1)

A firm, other than a managing agent, which is:

(a)

a home finance provider; or

Entire section

(b)

an insurer; or

Entire section

(c)

the operator of a regulated collective investment scheme or an investment trust savings scheme; or

Entire section

(d)

a person who issues or manages the relevant assets of the issuer of a structured capital-at-risk product; or

Entire section

(e)

a firm with permission to enter into a regulated credit agreement as lender in respect of high-cost short-term credit or home credit loan agreements; or

Entire section

(2)

a firm in whom the rights and obligations of the lender under a regulated mortgage contract are vested.

The provisions governing performance data reports in SUP 16.11 and SUP 16 Annex 21

17SUP 16.12

A firm undertaking the regulated activities as listed in SUP 16.12.4 R, unless exempted in SUP 16.12.1 G

Sections as relevant to regulated activities as listed in SUP 16.12.4 R23

232425SUP 16.14

A CASS large firm and a CASS medium firm

Entire section29

29SUP 16.18

A full-scope UK AIFM and a small authorised UK AIFM

SUP 16.8.3 R

34SUP 16.20

An IFPRU 730k firm and a qualifying parent undertaking that is required to send a recovery plan, a group recovery plan or information for a resolution plan to the FCA.

Entire Section

40SUP 16.23

A firm subject to the Money Laundering Regulations and within the scope of SUP 16.23.1R

Entire Section

27Note 2 = The application of SUP 16.13 is set out under SUP 16.13.1 G;59 the application of SUP 16.15 is set out under SUP 16.15.1 G; the application of SUP 16.16 is set out SUP 16.16.1 R and SUP 16.16.2 R and the application of SUP 16.17 is set out in SUP 16.17.3 R and SUP 16.17.4 R59.

59

29Note 3 = The application of SUP 16.18 for the types of AIFMs specified in SUP 16.1.1C G is set out in SUP 16.18.2 G.

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 data protection legislation2 and, in particular, to adhere to the 2data protection principles.[Note:
PERG 2.3.2GRP
There is power in the Act for the Treasury to change the meaning of the business element by including or excluding certain things. They have exercised this power (see the Financial Services and Markets Act 2000 (Carrying on Regulated Activities by Way of Business) Order 2001 (SI 2001/1177), as amended from time to time)12. The result is that the business element differs depending on the activity in question. This in part reflects certain differences in the nature of the activities:35553(1)
TC App 1.1.1RRP

1Activity

Products/Sectors

Is there an appropriate qualification4requirement?

4

Designated investment business carried on for a retail client

Providing basic advice

1.

Stakeholder products excluding a deposit-based stakeholder product

No

Advising or giving personal recommendations (as relevant)13

2.

Giving personal recommendations on securities13 which are not stakeholder pension schemes, personal pension schemes7 or broker funds

Yes

3.

Giving personal recommendations on derivatives13

Yes2

4.

Giving personal recommendations on retail investment products13 which are not broker funds

66

Yes2

5.

Giving personal recommendations on13Friendly Societylife policies where the employee is not reasonably expected to receive a remuneration of greater than £1000 a year in respect of such sales

No2

6.

Giving personal recommendations on13Friendly Society tax-exempt policies (other than Holloway sickness policies where the Holloway policy special application conditions are met)5

Yes2

7.

Giving personal recommendations on long-term care insurance contracts13

Yes2

8.

Giving personal recommendations on investments13 in the course of corporate finance business

Yes2

9.

Advising on syndicate participation at Lloyd's

Yes2

129A.

Advising on P2P agreements

Yes

Undertaking the activity in column 2

10.

Broker fund adviser

Yes

11.

Pension transfer specialist

Yes2

Giving personal recommendations13 and dealing

12.

Giving personal recommendations on and dealing in securities13 which are not stakeholder pension schemes, personal pension schemes7 or broker funds

Yes

13.

Giving personal recommendations on and dealing in derivatives13

Yes2

4Dealing

13A.8

Securities which are not stakeholder pension schemes, personal pension schemes7 or broker funds

No

413B.8

Derivatives

No

8MiFID business bidding

13C.

Emissions auction products that are financial instruments

No

Managing

14.

Investments

Yes

Overseeing on a day-to-day basis

15.

Operating a collective investment scheme or undertaking the activities of a trustee or depositary of a collective investment scheme

Yes

16.

Safeguarding and administering investments or holding client money

Yes2

17.

Administrative functions in relation to managing investments

Yes2

18.

Administrative functions in relation to effecting or carrying out contracts of insurance which are life policies

Yes2

19.

Administrative functions in relation to the operation of stakeholder pension schemes

Yes2

Mortgage Activity10 and reversion activity carried on for a customer

10

910Advising; arranging (bringing about) an execution-only sale, excluding variations to an existing home finance transaction except where the effect is to change all or part of the home finance transaction from one interest rate to another.

See Note 3, which for the avoidance of doubt forms part of this rule.

20

Regulated mortgage contracts for a non-business purpose

Yes

20A

Regulated mortgage contracts for a business purpose

No

21

Equity release transactions

Yes

9Designing scripted questions for execution-only sales

21A

Regulated mortgage contracts for a non-business purpose

Yes

21B

Regulated mortgage contracts for a business purpose

No

22

Equity release transactions

Yes

Overseeing execution-only sales on a day-to-day basis9

9

23.

Equity release transactions

Yes

11MCD credit agreement activities carried on for consumers

11manufacturing

23A

an MCD credit agreement

No

11entering into a regulated mortgage contract or entering into a regulated credit agreement as lender

23B

an MCD credit agreement

No

11arranging (bringing about) regulated mortgage contracts or acting as an MCD credit broker

23C

an MCD credit agreement

No

11advising on a regulated mortgage contract or advising on a regulated credit agreement for the acquisition of land

23D

an MCD credit agreement

No

11directly managing or supervising employees who carry on any of the MCD credit agreement activities 23A to 23D

23E

an MCD credit agreement

No

[Note: article 9(1) of the MCD]11

Non-investment insurance business carried on for a consumer

Giving personal recommendations13

24.

Giving personal recommendations on non-investment insurance contracts13

No

3Regulated sale and rent back activity carried on for a customer

Advising

25.

Regulated sale and rent back agreements

No

Overseeing an execution-only sale10 on a day-to-day basis

10

26.

Regulated sale and rent back agreements

No

Notes:

1.

In the Appendix the heading and types of business specified in the headings are to be read in conjunction with the paragraphs appearing beneath them.

2.

Thus, for example, paragraph 24,13 consistent with the heading above it, refers only to personal recommendations given in relation to13non-investment insurance contracts given to a consumer.10

33

122A.

In relation to activity number 9A, see TC 2.1.5HR and TC 2.1.6R(2). There is no qualification for this activity in the list of qualifications set out in TC Appendix 4E. However, the effect of TC 2.1.5HR is that an employeeadvising on P2P agreements must be qualified to the same standard as if that employee were providing investment advice to retail clients on retail investment products.

103.

For the purpose of product numbers 20, 20A and 21 the activity of arranging (bringing about) referred to in the activity column:

(a) includes activity which would be arranging (bringing about) but for the exclusion in article 28A of the Regulated Activities Order; and

(b) does not include activities which taken on their own would not fall within the definition of that activity. For these purposes no account should be taken of the fact that for an activity to be a regulated activity it must be carried on by way of business (see PERG 4.3).

4.

In this Appendix, paragraphs 23A, 23B, 23C, 23D and 23E relate to the implementation of article 9(1) of the MCD. The specified activities do not, in and of themselves, attract a qualification requirement. However, where those activities overlap with those specified under the heading "mortgage activity and reversion activity carried on for a customer", qualification requirements may apply.

COBS 2.2.-1RRP
(1) [deleted]51(2) This section applies in relation to5designated investment business other than MiFID, equivalent third country or optional exemption business5, carried on for a retail client: (a) in relation to a derivative, a warrant, a non-readily realisable security, a P2P agreement,4 or stock lending activity, but as regards the matters in COBS 2.2.1R (1)(b) only; and (b) in relation to a retail investment product2, but as regards the matters in COBS 2.2.1R (1)(a) and (d)
FEES 4.4.9DRP
3To the extent that a firm4 has provided the information required by FEES 4.4.7 D to the FCA as part of its compliance with another provision of the Handbook, it is deemed to have complied with the provisions of that direction.444