Related provisions for SUP 13A.5.4A
101 - 120 of 174 items.
3In the areas set out below, the Act expressly requires the FCA to prepare and publish statements of policy or procedure on the exercise of its enforcement and investigation powers and in relation to the giving of statutory notices. (1) section 63C requires the FCA to publish a statement of its policy on the imposition, and amount, of financial penalties on persons that perform a controlled function without approval; (1-A) 1section 63ZD requires the FCA, among other things, to
(1) This direction applies to an application under Form A or Form E.(2) An5 application by a firm4must be made by submitting the Form online at fca.org.uk using the form specified on the FCA's and PRA'sonline notification and application system3. 1122(2A) [deleted]51(3) [deleted]4(4) Where a firm is obliged to submit an application online under (2), if the information technology systems used by the FCA fail and online submission is unavailable for 24 hours or more, until such
If the information technology systems used by the FCA fail and online submission is unavailable for 24 hours or more, the FCA and PRA will endeavour to publish a notice on their websites confirming that online submission is unavailable and that the alternative methods of submission set out in SUP 10A.16.1D (4) and SUP 15.7.4 R to SUP 15.7.9 G (Form and method of notification) should be used.
1DEPP 8 sets out the FCA's statement of policy on the exercise of its power under section 63ZB of the Act to vary, on its own initiative, an approval given by the FCA or the PRA for the performance of a designated senior management function in relation to the carrying on of a regulated activity by an SMCR firm2. The FCA is required to publish this statement of policy by section 63ZD of the Act. [Note: the FCA’s statement of policy on the exercise of its power under section 63ZA
If a person established in the EEA: (1) does not have an EEA right; (2) does not have permission as a UCITS qualifier; and(3) does not have, or does not wish to exercise, a Treaty right (see SUP 13A.3.4 G to SUP 13A.3.11 G);to carry on a particular regulated activity in the United Kingdom, it must seek Part 4A permission from the appropriate UK regulator3 to do so (see the appropriate UK regulator's website: www.fca.org.uk/firms/authorisation/apply-authorisation for the FCA and
For guidance on how to apply for Part 4A permission3 under the Act, see the appropriate UK regulator's website: http://www.fca.org.uk/firms/about-authorisation/getting-authorised for the FCA and www.bankofengland.co.uk/pra/Pages/authorisations/newfirm/default.aspx for the PRA.31 If an EEA firm or Treaty firm wishes to make any subsequent changes to its top-up permission, it can make an application for variation of that permission (see SUP 6 (Applications to vary and cancel Part
This chapter does not apply to: (1) a PRA authorised person; (2) an RRD group member that is: (a) a qualifying parent undertaking of a PRAauthorised person; and(b) subject to supervision on a consolidated basis by the PRA; and(3) a qualifying parent undertaking that is a mixed activity holding company of a PRA authorised person.
If a firm ceases to be a participant firm or carry out activities within one or more classes54 part way through a financial year6 of the compensation scheme:44(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
1A need for a joint investigation with the PRA may arise where either the FCA or the PRA identifies circumstances which suggest that a firm or individual has committed misconduct that adversely affects both regulators’ statutory objectives. In such cases, the regulators will determine whether they should carry out separate but coordinated investigations, or whether it would be more appropriate for one of the regulators to carry out an investigation, keeping the other informed.
The table of FCA controlled functions8 applies in relation to an FCA-authorised person. It also applies in relation to an appointed representative for the purposes of SUP 10A.1.15 R to SUP 10A.1.16BR4 (Appointed representatives) whether its principal is an FCA-authorised person or a PRA-authorised person. 822
3A firm is not subject to consolidated supervision under BIPRU 8 where any of the following conditions are fulfilled:(1) the firm is included in the supervision on a consolidated basis of the group of which it is a member by the FCA or PRA under the EUCRR; or(2) the firm is included in the supervision on a consolidated basis of the group of which it is a member by a competent authority other than the FCA under the EUCRR as implemented by that competent authority.
3Where a group includes one or more BIPRU firms and one or more IFPRU investment firms which has permission under article 19 of the EUCRR (Exclusion from the scope of prudential consolidation) from the FCA not to be included in the supervision on a consolidated basis of the group of which it is a member, consolidated supervision under BIPRU 8 applies to those IFPRU investment firms and the BIPRU firms.
21The provisions in SYSC should be read in conjunction with GEN 2.2.23 R to GEN 2.2.25 G. In particular:(1) [deleted]9(2) Provisions made by the FCA, and by the9PRA in the PRA Rulebook,9 may be applied by both regulators to PRA-authorised persons. Such provisions are applied by each regulator to the extent of its powers and regulatory responsibilities.95(3) 5For Solvency II firms, the FCA considers that the requirements and guidance14 in Chapters 2, 3, 12 to 18,11 19F.2,14 21,
Section 340 of the Act gives the PRA6 power to make rules requiring an authorised person, or an authorised person falling into a specified class, to appoint an actuary3. The PRA has exercised its power to make such rules in PRA Rulebook: Solvency II firms: Actuaries; and PRA Rulebook: Non-Solvency II firms: Actuarial Requirements.5 The rule-making powers of the PRA and FCA6 under section 340 of the Act also extend to an actuary's3 duties.636666663336
This chapter is relevant to an applicant for a Part 4A permission7, as if that applicant were a firm. Where the chapter refers to appropriate7supervisory contact, the applicant should read this as being the usual supervisory7contact at7 the appropriate regulator7. Further, this chapter is relevant to a person who is subject to rules made by the appropriate regulator7 and where the chapter refers to a firm, this includes that person5.177577
(1) 15Under sections 20(1) and (1A) of the Act (Authorised persons acting without permission), if an authorised person carries on a regulated activity in the United Kingdom, or purports to do so, otherwise than in accordance with his permission, he is to be taken to have contravened a requirement imposed by the FCA (in the case of a FCA-authorised person) or the FCA and the PRA (in the case of a PRA-authorised person).(2) In addition, under section 23(1A) of the Act (Contravention
As long as the conditions in section 39 of the Act are satisfied, any person, other than an authorised person (unless he has only a limited permission)15, may become an appointed representative, including a body corporate, a partnership or an individual in business on his own account. However, an appointed representative cannot be an authorised person under the Act unless he has only a limited permission. A person15 cannot be exempt for some regulated activities and authorised
A person need not pay a periodic fee on the date on which it is due under the relevant provision in FEES 4.2.1 R, if:(1) that date falls during a period during which circumstances of the sort set out in GEN 1.3.2 R (Emergencies) exist, and that person has reasonable grounds to believe that those circumstances impair its ability to pay the fee, in which case he must pay it on or before the fifth business day after the end of that period; or(2) unless FEES 4.3.6R (3), 9FEES 4.3.6R