Related provisions for MCOB 10A.3.2

TC App 1.1.1R29/07/2022

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 securities 13 which are not stakeholder pension schemes, personal pension schemes 7 or broker funds	Yes
	3.	Giving personal recommendations on derivatives 13	Yes2
	4.	Giving personal recommendations on retail investment products 13 which are not broker funds 6 6	Yes2
	5.	Giving personal recommendations on13 Friendly Society life 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 on13 Friendly 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 contracts 13	Yes2
	8.	Giving personal recommendations on investments 13 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
Undertaking the activity in column 2	11.	Pension transfer specialist	Yes2
Giving personal recommendations13 and dealing	12.	Giving personal recommendations on and dealing in securities 13 which are not stakeholder pension schemes, personal pension schemes 7 or broker funds	Yes
Giving personal recommendations13 and dealing	13.	Giving personal recommendations on and dealing in derivatives 13	Yes2
4Dealing	13A.8	Securities which are not stakeholder pension schemes, personal pension schemes 7 or broker funds	No
4Dealing	413B.8	Derivatives	No
15 MiFID business bidding	13C15	emissions auction products 15	No15
8		14
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
9 10Advising; 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
11 MCD credit agreement activities carried on for consumers
11manufacturing	23A	an MCD credit agreement	No
11 entering into a regulated mortgage contract or entering into a regulated credit agreement as lender	23B	an MCD credit agreement	No
11 arranging (bringing about) regulated mortgage contracts or acting as an MCD credit broker	23C	an MCD credit agreement	No
11 advising 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 contracts 13	No
3 Regulated sale and rent back activity carried on for a customer
Advising	25.	Regulated sale and rent back agreements	No
Overseeing an execution-only sale 10 on a day-to-day basis 10	26.	Regulated sale and rent back agreements	No
16 Regulated funeral plan activity carried on for a customer
16 Dealing in investments as agent	27	Funeral plan contracts	No
16 Arranging (bringing about) deals in investments	28	Funeral plan contracts	No
16 Making arrangements with a view to transactions in investments	29	Funeral plan contracts	No
16 Managing investments	30	Funeral plan contracts	No
16 Safeguarding and administering investments	31	Funeral plan contracts	No
16 Sending dematerialised instructions	32	Funeral plan contracts	No
16 Causing dematerialised instructions to be sent	33	Funeral plan contracts	No
16 Advising on investments	34	Funeral plan contracts	No
16 Entering as provider into a funeral plan contract	35	Funeral plan contracts	No
16 Carrying out a funeral plan contract as provider	36	Funeral plan contracts	No
16 Agreeing to carry on a regulated activity	37	Funeral plan contracts	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 to13 non-investment insurance contracts given to a consumer.10 3 3
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 employee advising 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.

DISP 1.2.2AR21/03/2016

If an MCD credit intermediary has, before or at the point of sale, provided an eligible complainant with appropriate information in a durable medium about their internal procedures for the reasonable and prompt handling of complaints pursuant to another rule, the MCD credit intermediary need not refer to the availability of that information again under DISP 1.2.1R(2)(b).9

SUP 10C.1.4R01/01/2021

This chapter does not apply to an SMCR firm if and in so far as the question of whether a person is fit and proper to perform a particular function in relation to that firm is reserved to an authority in a country or territory outside the United Kingdom as contemplated by section 59(8) of the Act. This rule has effect to the extent that, and for as long as, section 59(8) of the Act remains in effect under the standstill direction (as it relates to that section) as defined in the

PRIN 1.1.2G01/01/2021

The Principles are a general statement of the fundamental obligations of firms and the other persons to whom they apply14 under the regulatory system. 13 They derive their authority from the FCA’s11 rule-making powers as set out in the Act, including as applied by the Payment Services Regulations and the Electronic Money Regulations,14 and reflect the statutory objectives.35

COCON 1.1.12R01/01/2021

A person will not be subject to COCON to the extent that this would be contrary to the requirements of an EU measure passed or made before IP completion day16, to the extent that those requirements continue to have effect after IP completion day16 under the EUWA.1813511

SUP 8.6.2G01/01/2021

When considering whether it is satisfied under section 138B(2)4, the appropriate regulator4 is required by section 138B(3)4 of the Act:444(1) to take into account whether the waiver relates to a rule contravention of which is actionable under section 138D4 of the Act (Actions for damages); Schedule 5 identifies such rules;4(2) to consider whether its publication would prejudice, to an unreasonable degree, the commercial interests of the firm concerned, or any other member of its

MCOB 6.1.2AR21/03/2016

This chapter does not apply to a firm that is an MCD mortgage lender.

EG 19.30.101/01/2021

1 The Mortgage Credit Directive (MCD) allowed3 for an exemption not to apply the MCD to buy-to-let lending if there was3 in place an appropriate framework for the regulation of these mortgages. The Mortgage Credit Directive Order 2015 (MCDO) is the vehicle through which the framework for “consumer buy-to-let” (CBTL) mortgages was3 established in order to comply with the MCD.

MCOB 3A.2.4R21/03/2016

(1) A firmcommunicating or approving a non-real time financial promotion of qualifying credit other than in (2), for a home reversion plan or a regulated sale and rent back agreement must be able to show that it has taken reasonable steps to ensure that the non-real time financial promotion is fair, clear and not misleading. (2) A firmcommunicating a financial promotion, or approving a non-real time financial promotion in relation to an MCD regulated mortgage contract must ensure

SUP 12.2.1G03/01/2018

(1) Under section 19 of the Act (The general prohibition), no person may carry on a regulated activity in the United Kingdom, or purport to do so, unless he is an authorised person, or he is an exempt person in relation to that activity.(2) A person will be an exempt person if he satisfies the conditions in section 39(1) of the Act, guidance on which is given in SUP 12.2.2 G. A person who is exempt as a result of satisfying these conditions is referred to in the Act as an appointed

PERG 2.5.3G01/01/2021

The application of certain of the exclusions considered in PERG 2.8 (Exclusions applicable to certain regulated activities) and PERG 2.9 (Regulated activities: exclusions applicable to certain circumstances) is modified in relation to persons who are subject to the UK provisions which implemented10MiFID2, the IDD8 and the MCD.6 The reasons for this and the consequences of it are explained in PERG 2.5.4 G for MiFID, PERG 5 (Guidance on insurance distribution activities) for the

PERG 2.8.6BAG21/03/2016

12The exclusion referred to in PERG 2.8.6AG (4) will not be available to persons who, when carrying on an arranging activity, are MCD firms (see PERG 4.10A (Activities regulated under the Mortgage Credit Directive)).

Related provisions for MCOB 10A.3.2

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