Related provisions for SUP 15.5.3

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REC 3.2.1RRP
Where a recognised body is required to give any notice or information under any notification rule, it may do so (unless that rule expressly provides otherwise) orally or in writing, whichever is the more appropriate in the circumstances, but, where it gives notice or information orally, it must confirm that notice or information in writing promptly.
REC 3.2.2RRP
Unless otherwise stated in the notification rule, a written notification required from a recognised body under any notification rule must be:(1) given to, or addressed for the attention of, the recognised body's usual supervisory contact at the FCA;11(2) delivered to the FCA1 by one of the methods in REC 3.2.3 R.1
REC 3.2.3RRP

Methods of notification

Method of delivery


Post to the address in REC 3.2.4 R


Leaving the notification at the address in REC 3.2.4 R and obtaining a time-stamped receipt


Electronic mail to an address for the recognised body's usual supervisory contact at the FCA1 and obtaining an electronic confirmation of receipt



Hand delivery to the recognised body's usual supervisory contact at the FCA1



Fax to a fax number for the recognised body's usual supervisory contact at the FCA,1provided that the FCA1 receives a copy of the notification by one of methods (1) - (4) in this table within five business days after the date of the faxed notification

REC 3.2.4RRP
The address for a written notification to the FCA1 is:The Financial Conduct Authority112 Endeavour Square2London, E20 1JN211
REC 3.2.5RRP
If a notification rule requires notification within a specified period:(1) the recognised body must give the notification so as to be received by the FCA1 no later than the end of that period; and 1(2) if the end of that period falls on a day which is not a business day, the notification must be given so as to be received by the FCA1 no later than the first business day after the end of that period.1
REC 3.2.6GRP
The Financial Services and Markets Act 2000 (Service of Notices) Regulations 2001 (SI 2001/1420) do not apply to notifications required under the notification rules in this chapter and in REC 6 because of the specific rules in this section. 1
RCB 3.5.2DRP
If an owner proposes to transfer the asset pool to a new owner it must provide the FCA as a minimum with the following information in writing at least three months before the proposed transfer date:(1) name, address and contact details of the proposed new owner;(2) proposed transfer date and reasons for the transfer;(3) an explanation of how the proposed new owner will comply with the requirements imposed on it by the RCB Regulations and RCB; and(4) confirmation that the existing
RCB 3.5.4DRP
If an issuer proposes to make a material change to the contractual terms of a regulated covered bond, it must inform the FCA of the following information to the FCA at least 3 months before the proposed date of the change:(1) details of the proposed change including proposed date of change and the reasons for it;(2) an assessment of the impact of the change on the ability of the issuer and owner to continue to comply with their requirements under the RCB Regulations and RCB; and
RCB 3.5.6DRP
The issuer or the owner, as the case may be, must notify the FCA immediately, in writing by e-mail or hand-delivered letter, if Regulation 18(2), or 24(1)(c) of the RCB Regulations (obligation to inform FCA if asset pool not capable, or not likely to be capable of covering claims) is triggered.
RCB 3.5.7DRP
The issuer or the owner, as the case may be, must notify the FCA immediately in writing by e-mail, or hand-delivered letter, if requirements relating to the relevant regulated covered bond under the RCB Regulations or RCB are, or are likely to be, materially breached, or of any other matter which the FCA should be made aware of.
RCB 3.5.8GRP
The issuer or the owner, as the case may be, should include details of proposals to rectify the breach at the time they notify, or as soon as practicable after that time.
RCB 3.5.9DRP
1The issuer must notify the FCA if it proposes to cancel in full or in part a regulated covered bond or programme at least 3 business days before the cancellation will take effect.
RCB 3.5.11DRP
1The issuer must publish the asset notification form sent to the FCA under RCB 3.3.1 D.
LR 8.7.7RRP
A sponsor must provide to the FCA on or after the first business day of January in each year but no later than the last business day of January in each year:77(1) written confirmation that it continues to satisfy the criteria for approval as a sponsor as set out in LR 8.6.5 R; and5(1A) for each of the criteria in that rule, evidence8 of the basis upon which it considers that it meets that criterion8.588(2) [deleted]55(3) [deleted]55(4) [deleted]55
LR 8.7.7ARRP
7Written confirmation must be provided by submitting a completed Sponsor Annual Notification Form to the FCA at the FCA's address.[Note: The Sponsor Annual Notification Form can be found on the Primary Markets12 section of the FCA's website.]
LR 8.7.8RRP
A sponsor must notify the FCA in writing as soon as possible if:(1) 8(a) 8the sponsor ceases to satisfy the criteria for approval as a sponsor set out in LR 8.6.5 R or becomes aware of any matter which, in its reasonable opinion, would be relevant to the FCA in considering whether the sponsor continues to comply with LR 8.6.6 R; or(b) 8the sponsor becomes aware of any fact or circumstance relating to the sponsor or any of its employees engaged in the provision of sponsor services
LR 8.7.8ARRP
8Where a sponsor is of the opinion that notwithstanding the circumstances giving rise to a notification obligation under LR 8.7.8 R, it continues to satisfy the ongoing criteria for approval as a sponsor in accordance with LR 8.6.6 R, it must include in its notification to the FCA a statement to that effect and the basis for its opinion.
LR 8.7.9GRP
General notifications may be made in the first instance by telephone, but must be confirmed promptly in writing.
LR 8.7.10GRP
Written notifications should be sent to the Primary Market Specialist Supervision12 Team at the FCA's address.
LR 8.7.21AGRP
8Examples of when a sponsor should submit a cancellation request pursuant to LR 8.7.22 R include, but are not limited to:(1) situations where the sponsor ceases to satisfy the ongoing criteria for approval as a sponsor in accordance with LR 8.6.6 R and, following a notification made under LR 8.7.8 R, there are no ongoing discussions with the FCA which could lead to the conclusion that the sponsor remains eligible; or(2) where there is a change of control of the sponsor or any
LR 8.7.26AGRP
11A sponsor may wish to consider submitting a suspension request under LR 8.7.25 R where the sponsor:(1) ceases to satisfy the ongoing criteria for approval as a sponsor in accordance with LR 8.6.6 R; (2) has notified the FCA in accordance with LR 8.7.8 R;(3) is having ongoing discussions with the FCA regarding remedial action; and(4) is undertaking remedial action which may result in the sponsor being able to satisfy the ongoing criteria for approval in accordance with LR 8.6.6
SUP App 3.6.6GRP
An insurance undertaking that effects contracts of insurance covering risks or commitments situated in another EEA State should comply with the notification procedures for the provision of services within that EEA State. The location of risks and commitments is found by reference to the rules set out in paragraph 6 of schedule 12 to the Act, which derive from article 13(13) and (14) of the Solvency II Directive.4 It may be appropriate for insurers to take legal advice as to how
SUP App 3.6.8GRP
The FCA is5 of the opinion that UK firms that are credit institutions and MiFID investment firms2 should apply the 'characteristic performance' test (as referred to in SUP App 3.6.7 G) when considering whether prior notification is required for services business. Firms should note that other EEA States may take a different view. Some EEA States may apply a solicitation test. This is a test as to whether it is the consumer or the provider that initiates the business relations
SUP App 3.6.10GRP
Where, however, a credit institution or MiFID investment firm:22(1) intends to send a member of staff or a temporarily authorised intermediary to the territory of another EEA State on a temporary basis to provide financial services; or(2) provides advice, of the type that requires notification under either MiFID or the Banking Consolidation Directive2, to customers in another EEA State;2 the firm should make a prior notification under the freedom to provide services.
SUP App 3.6.11GRP
The key distinction in relation to temporary activities is whether a firm should make its notification under the freedom of establishment in a Host State, or whether it should notify under the freedom to provide services into a Host State. It would be inappropriate to discuss such a complex issue in guidance of this nature. It is recommended that, where a firm is unclear on the distinction, it should seek appropriate advice. In either case, where a firm is carrying on activities
SUP App 3.6.15GRP
The FCA considers5 that, in order to comply with Principle 3:Management and control (see PRIN 2.1.1 R), a firm should have appropriate procedures to monitor the nature of the services provided to its customers. Where a UK firm has non-resident customers but has not notified the EEA State in which the customers are resident that it wishes to exercise its freedom to provide services, the FCA5 would expect the firm's systems to include appropriate controls. Such controls would
SUP App 3.6.25GRP
(1) 2The FCA is5 of the opinion that where a UK firm becomes a member of:66(a) a regulated market that has its registered office or, if it has no registered office, its head office, in another EEA State; or(b) an MTF or OTF5 operated by a MiFID investment firm or a market operator in another EEA State,2the same principles as in the 'characteristic performance' test should apply. Under this test, the fact that a UK firm has a screen displaying the regulated market's or the MTF's
SUP App 3.6.27GRP
Firms should note that, in circumstances where the FCA5 take the view that a notification would not be required, other EEA States may take a different view.66
REC 6.7.1RRP
The notification rules in this chapter, which are made under sections 293 (Notification requirements) and 295 of the Act (Notification: overseas investment exchanges and overseas clearing houses), apply to all ROIEs1.1
REC 6.7.2GRP
The notification rules in this chapter are made by the FCA1 in order to ensure that it is provided with notice of events and information which it reasonably requires for the exercise of its functions under the Act. 1
REC 6.7.7RRP
Where an ROIE1 proposes to change: (1) its address in the United Kingdom for the service of notices or other documents required or authorised to be served on it under the Act; or(2) the address of its head office;it must give notice to the FCA1 and inform it of the new address at least 14 days before the change is effected.1
REC 6.7.8RRP
Where an ROIE1 has notice that any licence, permission or authorisation which it requires to conduct any regulated activity in its home territory has been or is about to be:1(1) revoked; or(2) modified in any way which would materially restrict the ROIE1 in performing any regulated activity in its home territory or in the United Kingdom;1it must immediately notify the FCA1 of that fact and must give the FCA1 the information specified for the purposes of this rule in REC 6.7.9
REC 6.7.10RRP
Any notice to be given or information to be supplied under these notification rules must be supplied in English, and any document to be provided must be accompanied, if not in English, by an accurate English translation.
REC 6.7.12RRP
The rules relating to the form and method of notification in REC 3.2 also apply to ROIEs1.1
REC 6.7.13GRP
ROIEs 1may apply to the FCA1 for a waiver of any of the notification rules. The procedure is the same as that for applications from UK recognised bodies. Guidance on the procedure is given in REC 3.3.1
RCB 3.6.1RRP
If an issuer or owner does not provide the notifications to the FCA required by directions made under this chapter by the date specified, then that issuer or owner must pay to the FCA an administrative fee of £250.
RCB 3.6.3GRP
The form and content of the notifications in this chapter are a matter for direction by the FCA which will determine any additional information and documentation required on a case-by-case basis.
RCB 3.6.5DRP
Unless otherwise stated, the issuer or the owner, as the case may be, must send the relevant forms and information to theFCA3marked for the attention of the "Regulated Covered Bonds Team2" by email to [deleted]3(2) [deleted]3(3) [deleted]3
RCB 3.3.1DRP
The issuer must send to the FCA, information relating to the asset pool, in the form set out in RCB 3 Annex 2D (asset notification form), and information relating to the regulated covered bonds issued under the programme, in the form set out in RCB 3 Annex 3 D (asset and liability profile form).1
RCB 3.3.2DRP
The issuer must send the asset notification form1 to the FCA each month following the registration date, and the asset and liability profile form to the FCA1 within one month of the end of each quarter following the registration date.1
RCB 3.3.3DRP
If the issuer is in insolvency, the owner must send to the FCA the notifications set out at RCB 3.3.1 D and RCB 3.3.2A D1 by the same dates as the dates the notifications under those directions are due. 1
RCB 3.3.5DRP
1If the issuer or the owner (as the case may be) proposes to add or remove assets to or from the asset pool which change the level of over collateralisation by 5% or more, it must notify the FCA using the form set out in RCB 3 Annex 2 D (asset notification form) at least 5 business days prior to the proposed transfer, giving expected details of the size and composition of the transfer.
Consistent with Principle 11 (Relations with regulators), the appropriate regulator will expect a firm to notify it if the firm does not propose to follow its individual liquidity guidance. The appropriate regulator will expect any such notification to be accompanied by a clear account of the firm's reasons for considering the individual liquidity guidance to be inappropriate. The appropriate regulator will expect to receive any such notification within one month from the date
BIPRU 12.9.16GRP
Consistent with Principle 11 of the appropriate regulator'sPrinciplesfor Businesses (Relations with regulators), if a firm has not accepted individual liquidity guidance given by the appropriate regulator it should, nevertheless, notify the appropriate regulator as soon as it becomes aware of either of the events identified in BIPRU 12.9.14R (2)(a) or (b).
BIPRU 12.9.17RRP
No later than two days after the day on which a firm notifies the appropriate regulator under BIPRU 12.9.13R (1), the firm must submit a liquidity remediation plan to the appropriate regulator.
BIPRU 12.9.25RRP
Notification to the appropriate regulator under BIPRU 12.9.13R (1) and submission to the appropriate regulator under BIPRU 12.9.17 R must be made to the following appropriate regulator email address:
BIPRU 12.9.26GRP
Although BIPRU 12.9.25 R requires notification and submission in the way prescribed in that rule, the appropriate regulator expects that a firm would also bring to the attention of its usual supervisory contact at the appropriate regulator the fact that it had made such a notification or submission.
BIPRU 12.9.27GRP
For the purpose of the notification expected under BIPRU 12.9.26 G, the appropriate regulator would expect any such notification to be made in the way envisaged in BIPRU 12.9.25 R.
SUP 15.6.1RRP
A firm must take reasonable steps to ensure that all information it gives to the FCA3 in accordance with a rule in any part of the Handbook (including Principle 11) is:99(1) factually accurate or, in the case of estimates and judgements5, fairly and properly based after appropriate enquiries have been made by the firm; and(2) complete, in that it should include anything of which the FCA3 would reasonably expect notice.99
SUP 15.6.2GRP
SUP 15.6.1 R applies also in relation to rules outside this chapter, and even if they are not notification rules. Examples of rules and chapters to which SUP 15.6.1 R is relevant, are:(1) Principle 11, and the guidance on Principle 11 in SUP 2 (Information gathering by the FCA and PRA99 on their9 own initiative);9(2) SUP 15 (Notifications to the FCA3):99(3) SUP 16 (Reporting requirements); (4) [deleted]81(5) any notification rule (see Schedule 2 which contains a consolidated summary
SUP 15.6.4RRP
If a firm becomes aware, or has information that reasonably suggests that it has or may have provided the FCA3 with information which was or may have been false, misleading, incomplete or inaccurate, or has or may have changed in a material particular, it must notify the FCA3 immediately. Subject to SUP 15.6.5 R, the notification must include:9999(1) details of the information which is or may be false, misleading, incomplete or inaccurate, or has or may have changed; (2) an
SUP 15.6.5RRP
If the information in SUP 15.6.4 R (3) cannot be submitted with the notification (because it is not immediately available), it must instead be submitted as soon as possible afterwards.
SUP 15.6.6AGRP
4SUP 15.11.13R(4) adjusts the time when, and how, an SMCR firm6 should make updates under SUP 15.6.4R about notifications under section 64C of the Act (Notification of disciplinary action against certain employees).
1Where possible, the director or senior manager who signs the annual confirmation should be the same director or senior manager who has verified the application for registration under RCB 2.2.6 D. If the director or senior manager is different to the director or senior manager who verified the application for registration, the issuer should notify the FCA at least one month before sending the confirmation to the FCA.
RCB 3.2.10DRP
If the issuer is in insolvency, the owner must send the FCA under RCB 3.2.1 D:(1) a confirmation of compliance within one month of the date of insolvency; and(2) annual confirmations by the same dates as the date the confirmations under RCB 3.2.5 D are due.
RCB 3.2.11DRP
(1) The owner must ensure that a duly authorised representative signs the confirmation and confirms on the FCA's form that the owner has obtained the appropriate third party advice or reports required by this section.(2) The owner must obtain appropriate advice in the same manner as set out in RCB 3.2.2 D and must provide a copy of the asset pool monitor's report to the FCA as set out in RCB 3.2.4B D.1
RCB 3.2.14GRP
1As required under Regulation 17A of the RCB Regulations, if it appears to the asset pool monitor that the issuer or owner (as the case may be) has failed to comply with the requirements set out in Regulations 17 or 24 of the RCB Regulations, or has not provided all relevant information or explanations, the asset pool monitor must report that to the FCA in writing as soon as possible.
RCB 3.2.15GRP
1If the asset pool monitor is changed, the issuer (or owner, as the case may be) should notify the FCA when the new asset pool monitor is appointed, giving the name of the new asset pool monitor and details of the reason for the change.
The Society must, as soon as it is practical to do so, notify the appropriate regulator of its intention to approve the form of any new Lloyd's trust deed.
The Society must, as soon as it is practical to do so, notify the FCA2of its intention to make any amendment which may alter the meaning or effect of any byelaw, including:2(1) any Lloyd's trust deed;(2) any standard form letter of credit prescribed by the Society from time to time; or(3) any standard form guarantee agreement prescribed by the Society from time to time.
The Society must provide the FCA2with full details of:2(1) the form of any new Lloyd's trust deed it intends to approve, as described in INSPRU 8.2.23 R and(2) any amendments falling within INSPRU 8.2.24 R.
The information provided to the 2FCA2by the Society under INSPRU 8.2.25 R must include:(1) a statement of the purpose of any proposed amendment or new Lloyd's trust deed and the expected impact, if any, on policyholders, managing agents, members, and potential members; and(2) a description of the consultation undertaken under INSPRU 8.2.26 R including a summary of any significant responses to that consultation.
The FCA2would normally expect to receive the information required under INSPRU 8.2.25 R and INSPRU 8.2.28 R not less than three months in advance of the proposed change.2
(1) Notwithstanding CASS 1A.2.2 R, provided that the conditions in (2) are satisfied a firm may elect to be treated:(a) as a CASS medium firm, in the case of a firm that is classed by the application of the limits in CASS 1A.2.7 R as a CASS small firm; and (b) as a CASS large firm, in the case of a firm that is classed by the application of the limits in CASS 1A.2.7 R as a CASS medium firm.(2) The conditions to which (1) refers are that in either case:(a) the election is notified4
Once every calendar year a firm must notify to the FCA in writing the information specified in (1), (2) or (3) as applicable, and the information specified in (4), in each case no later than the day specified in (1) to (4):44(1) if it held client money or safe custody assets in the previous calendar year, the highest total amount of client money and the highest total value of safe custody assets held during the previous calendar year, notification of which must be made no later
For the purpose of the annual notification to which CASS 1A.2.9 Rrefers4, a firm must apply the calculation rule in CASS 1A.2.3 R.442
4A firm's 'CASS firm type' and any change to it takes effect:(1) if the firm notifies the FCA in accordance with CASS 1A.2.9 R (1) or CASS 1A.2.9 R (2), on 1 February following the notification; or(2) if the firm notifies the FCA in accordance with CASS 1A.2.9 R (3), on the day it begins to hold client money or safe custody assets; or(3) if the firm makes an election under CASS 1A.2.5 R (1), and provided the conditions in CASS 1A.2.5 R (2) are satisfied, on the day the notification
4Any written notification made to the FCA under this chapter should be marked for the attention of: "Client Assets Firm Classification".
REC 3.3.1GRP
Under section 294 of the Act (Modification or waiver of rules), the FCA1 may, on the application or with the consent of a recognised body (including an ROIE),1 direct that any notification rule is not to apply to the body or is to apply with such modifications as may be specified in the waiver.11
REC 3.3.3GRP
Under section 294(4) of the Act, before the FCA1 may give a waiver of notification rules, it must be satisfied that:1(1) compliance by the recognised body with those notification rules, or with those rules as unmodified, would be unduly burdensome or would not achieve the purpose for which those rules were made; and(2) the waiver would not result in undue risk to persons whose interests those rules are designed to protect.
REC 3.3.4GRP
Where a recognised body wishes to make an application to the FCA1 for a waiver of a notification rule, it should in the first instance inform its usual supervisory contact at the FCA.111
REC 3.3.7GRP
Any waiver given by the FCA1 under section 294 of the Act will be made in writing, stating: 1(1) the name of the recognised body in respect of which the waiver is made;(2) the notification rules which are to be waived or modified in respect of that body;(3) where relevant, the manner in which any rule is to be modified;(4) any condition or time limit to which the waiver is subject; and(5) the date from which the waiver is to take effect.
SUP 11.8.2GRP
In assessing whether a matter should be notified to the appropriate regulator9 under SUP 11.8.1 R (1), SUP 11.8.1 R (2) or SUP 11.8.1 R (3), a firm should have regard to the guidance on satisfying the threshold conditions set out in paragraphs 2E and 3D of Schedule 6 to the Act9 contained in COND 2.5.99
SUP 11.8.3GRP
In respect of SUP 11.8.1 R (3), the appropriate regulator9 considers that, in particular, the removal or replacement of a majority of the members of a governing body (in a single event or a series of connected events) is a substantial change and should be notified.9
SUP 11.8.4GRP
If a matter has already been notified to the appropriate regulator9 (for example, as part of the firm's application for a Part 4A permission9), the firm need only inform the appropriate regulator9 of any significant developments.99
SUP 11.8.5GRP
The level of a firm's awareness of its controller's circumstances will depend on its relationship with that controller. The appropriate regulator9 does not expect firms to implement systems or procedures so as to be certain of any changes in its controllers' circumstances. However, the appropriate regulator9 does expect firms to notify it of such matters if the firm becomes aware of them, and it expects firms to make enquiries of its controllers if it becomes aware that one of
MAR 9.5.3GRP
Q. We are a market operator. Can we use the same members of our management body?A. Yes. Where the members of the management body of the APA, the CTP or the ARM are the same as the members of the management body of the regulated market you will be deemed to have complied with the management body requirement in regulation 13(1)(a) and (b) of the DRS Regulations. You will only be required to complete the full name and personal national identification number or equivalent thereof
MAR 9.5.5GRP
Q. How do we go about applying to be an ARM? A. In summary: (1) You should complete:(a) all of the questions in the application form at MAR 9 Annex 1D; and(b) the notification form for the list of members of the management body at MAR 9 Annex 2D.(2) You should sign the MIS confidentiality agreement at MAR 9 Annex 10D.(3) You should provide the documents referred to in: (a) (1)(a) and (b) together with supporting documentation to the FCA as set out in MAR 9.2.6D; and(b) (2) to
MAR 9.5.12GRP
Q. I intend to apply to be authorised to provide the data reporting service of an APA. May I establish connectivity requirements while my application for authorisation is being considered?A. Yes. The MIS confidentiality agreement is available on our website at together with instructions on how to obtain the Market Interface Specification (MIS) for connectivity.
SUP 18.4.2GRP
Friendly societies are encouraged to discuss a proposed transfer or amalgamation with the appropriate authority2, at an early stage to help ensure that a workable timetable is developed. This is particularly important where there are notification requirements for supervisory authorities in states1 other than the United Kingdom, or for an amalgamation where additional procedures are required.2
SUP 18.4.23GRP
Under the Friendly Societies Act 1992:(1) when the members of a transferor society have approved the transfer of its engagements by passing a special resolution and the transferee has approved the transfer (by passing a resolution where the transferee is a friendly society); or(2) when two or more societies have approved a proposed amalgamation by passing a special resolution;it, or they jointly, must then obtain confirmation by the appropriate authority2 of the transfer. Notice
SUP 18.4.24GRP
SUP 18.4.25GRP
The criteria that the appropriate authority2 must use in determining whether to confirm a proposed amalgamation or transfer are set out in schedule 15 to the Friendly Societies Act 1992. These criteria include that:2(1) confirmation must not be given if the appropriate authority2 considers that:2(a) there is a substantial risk that the successor society or transferee will be unable lawfully to carry out the engagements to be transferred to it;(b) information material to the members'
SUP 18.4.29GRP
Written representations, or written notice of a person's intention to make oral representations, or both, are required to reach the appropriate authority2 by the date published in the relevant Gazettes and other newspapers. Those giving notice of intent to make oral representations are advised to state the nature and general grounds of the oral representations they intend to make. Persons who make written representations but subsequently decide also to make oral representations
SUP 18.4.32GRP
Interested parties may be represented and may make collective representations. Such arrangements should be notified to the appropriate authority2 in advance to enable it to make appropriate arrangements.2
SUP 18.4.33GRP
The hearing referred to in SUP 18.4.30 G will be at a time and place that will be notified to the participants and will be conducted by the appropriate authority's2 representatives. The hearing may last longer than one day and may be adjourned. The appropriate authority2 will try to tell participants when they may expect to make their representations and when the society may be expected to respond.22
LR 12.5.1RRP
Except where the purchases will consist of individual transactions made in accordance with the terms of issue of the relevant securities, where1 a listed company intends to purchase any of its securities convertible into its equity shares2 with a premium listing2 it must:1(1) ensure that no dealings in the relevant securities are carried out by or on behalf of the company or any member of its group until the proposal has either been notified to a RIS or abandoned; and(2) notify
LR 12.5.2RRP
Any purchases, early redemptions or cancellations of a company's own securities convertible into equity shares with a premium listing,2 by or on behalf of the company or any other member of its group must be notified to a RIS when an aggregate of 10% of the initial amount of the relevant class of securities has been purchased, redeemed or cancelled, and for each 5% in aggregate of the initial amount of that class acquired thereafter.2
LR 12.5.3RRP
The notification required by LR 12.5.2 R must be made as soon as possible and in any event no later than 7:30 a.m. on the business day following the calendar day on which the relevant threshold is reached or exceeded. The notification must state:(1) the amount of securities acquired, redeemed or cancelled since the last notification; and(2) whether or not the securities are to be cancelled and the number of that class of securities that remain outstanding.
LR 12.5.5RRP
In circumstances where the purchase is not being made pursuant to a tender offer and the purchase causes a relevant threshold in LR 12.5.2 R to be reached or exceeded, no further purchases may be undertaken until after a notification has been made in accordance with LR 12.5.2 R to LR 12.5.4 R.
SUP 12.8.1RRP
If either the firm or the appointed representative notifies the other that it proposes to terminate the contract of appointment or to amend it so that it no longer meets the requirements contained or referred to in SUP 12.5 (Contracts: required terms), the firm must:2(1) complete and submit to the FCA the form in SUP 12 Annex 5 R (Appointed representative termination form) in accordance with the instructions on the form and no more than ten business days after the date of the
SUP 12.8.1ARRP
(1) 4Subject to (2A), a5firm other than a credit union must submit any notification under SUP 12.8.1 R (1) in the form set out in SUP 12 Annex 5 R, online at using the FCA'sonline notification and application system8.5566(2) A credit union must submit any notification under SUP 12.8.1 R (1) in the form set out in SUP 12 Annex 5 R and in the way set out in SUP 15.7.4 R to SUP 15.7.9 G (Form and method of notification).(2A) A firm must submit any notification under
SUP 12.8.1BGRP
4If the FCA's information technology systems fail and online submission is unavailable for 24 hours or more, the FCA will endeavour to publish a notice on its website confirming that online submission is unavailable and that the alternative methods of submission set out in SUP 12.8.1AR(3) and SUP 15.7.4 R to SUP 15.7.9 G (Form and method of notification) should be used.
SUP 12.8.2GRP
In assessing whether to terminate a relationship with an appointed representative, a firm should have regard to the guidance in SUP 12.6.1-AG and 11be aware that the notification rules in SUP 15 require notification to be made immediately to the FCA if certain events occur. Examples include a matter having a serious regulatory impact or involving an offence or a breach of any requirement imposed by the Act or by regulations or orders made under the Act by the Treasury.
SUP 12.8.3RRP
If a contract with an appointed representative is terminated, or if it is amended in a way which gives rise to a requirement to notify under SUP 12.8.1R, a firm must take all reasonable steps to ensure that:(1) if the termination is by the firm, the appointed representative is notified in writing before, or if not possible, immediately on, the termination of the contract and informed that it will no longer be an exempt person for the purpose of the Act because of the contract
SUP 12.8.4GRP
The firm is responsible for notifying the FCA of any approved person who no longer performs a controlled function under an arrangement entered into by a firm or its appointed representative (see SUP 10A.3 and SUP 10C.3)7.
Pursuant to the Financial Services and Markets Act 2000 (Short Selling) Regulations 2012 (SI 2012/2554), the FCA will direct how notifications to use the market maker exemption or the authorised primary dealer exemption shall be made. Such directions will be published on the FCA website and listed in FINMAR 2 Annex 1 G.
(1) If the FCA considers that a natural or legal person ('P') who has notified the FCA of his intention to use either the market maker exemption or the authorised primary dealer exemption does not satisfy the criteria to use the market maker exemption or the authorised primary dealer exemption, the FCA will send a letter to P setting out the reasons why it is minded to prohibit P from using the market maker exemption or the authorised primary dealer exemption.(2) P will be given
If P is not satisfied with the FCA's decision to prohibit P's use of the market maker exemption or the authorised primary dealer exemption, P may seek a review of the decision. This will be conducted by a group of at least three senior FCA staff. None of the group conducting the review will have been connected with the earlier decision taken in respect of P's use of the market maker exemption or the authorised primary dealer exemption. The review may take place after the expiry