Related provisions for SUP 16.18.10
81 - 100 of 138 items.
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
Explanatory table: This table belongs to COLL 6.2.2 G (4) (Purpose).Correction of box management errors1Controls by authorised fund managersAn authorised fund manager needs to be able to demonstrate that it has effective controls over:(1)its calculations of what units are owned by it (its 'box'); and(2)compliance with COLL 6.2.8 R which is intended to prevent a negative box.2Controls by depositaries(1)Under COLL 6.6.4 (General duties of the depositary), a depositary should take
Some of the distinguishing features of notices given under enactments other than the Act are as follows: (1) [deleted]66(2) [deleted]66(3) Friendly Societies Act 1992, section 58A1: The warning notice and decision notice must set out the terms of the direction which the FCA6 proposes or has decided to give and any specification of when the friendly society is to comply with it. A decision notice given under section 58A(3) must give an indication of the society's right, given by
2The requirement referred to in ICOBS 8.4.9R (7)(b) is that the report must include an opinion from the auditor confirming whether, in all material respects, the tracing office maintains a database which accurately and reliably stores information submitted to it by firms for the purpose of complying with relevant requirements in ICOBS 8.4 and that it has systems which can adequately keep it up to date in the light of new information provided by firms.
1The DRS Regulations implement MiFID. The FCA has investigation and enforcement powers in relation to both criminal and non-criminal breaches of the DRS Regulations (including requirements imposed on persons subject to the DRS Regulations by MiFIR and any directly applicable EU regulation made under MiFIR or MiFID). The DRS Regulations impose requirements on data reporting services providers (“DRSPs”) which are entities authorised or verified to provide services of:(1) publishing
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.
(1) Before a pure protection contract is concluded, a firm must communicate, at least,1 the information in the table below to the customer.11(2) The information must be provided in a clear and accurate manner, in writing, and in an official language of the State of the commitment or in another language if the policyholder so requests and the law of the State of the commitment so permits or the policyholder is free to choose the applicable law.11Information to be communicated before
The application of certain rules in this chapter depends upon the ‘CASS firm type’ within which a firm falls. The ‘CASS firm types’ are defined in accordance with CASS 1A.2.7 R. The ‘CASS firm type’ within which a firm falls is also used to determine whether it is required to have the CASS operational oversight function described in CASS 1A.3.1A R and1 whether 4the reporting obligations in SUP 16.14 (Client money and asset return) apply to it4.4
A firm must:(1) in respect of an OTF operated by it, or such a facility it proposes to operate, provide to the FCA a detailed explanation of:(a) why the OTF does not correspond to, and cannot operate as, an MTF, a regulated market or a systematic internaliser;(b) how discretion will be exercised in executing client orders; and(c) its use of matched principal trading; and(2) supply the information in (1) to the FCA in writing, by electronic mail to an address for the usual supervisory
1The rights and duties of auditors are set out in SUP 3.8 (Rights and duties of all auditors) and SUP 3.10 (Duties of auditors: notification and report on client assets). SUP 3.8.10 G also refers to the auditor's statutory duty to report certain matters to the FCA imposed by regulations made by the Treasury under sections 342(5) and 343(5) of the Act (information given by auditor or actuary to a regulator). An auditor should bear these rights and duties in mind when carrying out
(1) Where the firm's relevant reporting period (as defined in DISP 1.10.4 R or DISP 1.10.4A R as the case may be26) ends between 1 January and 30 June, the firm must publish the complaints data summary no later than 31 August of the same year.(2) Where the firm's relevant reporting period (as defined in DISP 1.10.4 R or DISP 1.10.4A R as the case may be26) ends between 1 July and 31 December, the firm must publish the complaints data summary no later than 28 February of the following
An example of a rule20 being interpreted as cut back by GEN 2.2.23R is SYSC 6.1.1R, which requires a firm to maintain adequate policies and procedures to ensure compliance with its obligations under the regulatory system; SYSC 6.1.1R should be interpreted as applied by the FCA in respect of a PRA-authorised person’s compliance with regulatory obligations that are the responsibility of the FCA (for example, in respect of a bank maintaining policies and procedures to ensure compliance
(1) A firm must make any notifications required pursuant to section 64C of the Act relating to conduct rules staff other than SMF managers4in accordance with SUP 15.11.13R to SUP 15.11.15R.3(2) That notification must be made annually.3(3) Each notification must:3(a) cover:63(i) (in the case of a firm falling within SYSC 23 Annex 1 6.7R (credit firms with limited permission)) its annual financial reporting period ending on its accounting reference date; or6(ii) (for any other firm)6
(1) “Annual income” is the annual income from the firm’sdesignated investment business as given in its reporting form in (3) drawn up at its most recent accounting reference date. (2) In (1), the most recent accounting reference date is the last one for which the firm reported annual income.(3) The relevant reporting form under SUP 16.12 is: (a) the Retail Mediation Activities Return (RMAR) (Section B: Profit and Loss Account) for a category B firm; and(b) FSA030 (Income Statement)
(1) This rule applies to a UK firm operating a multilateral trading facility or an OTF and a UK branch of a third country investment firm operating a multilateral trading facility or an OTF.(2) A firm must apply position management controls which enable an MTF or OTF at least to: (a) monitor the open interest positions of persons;(b) access information, including all relevant documentation, from persons about: (i) the size and purpose of a position or exposure entered into;(ii)
Reconciliation differences under GENPRU 1.3.34 R should not be reflected in the valuations under GENPRU 1.3 but should be disclosed to the FCA14 in prudential returns.10Firms which are subject to the reporting requirement under SUP 16.16 should disclose those reconciliation differences in the Prudent Valuation Return which they are required to submit to the FCA14 under SUP 16.16.4 R.