Related provisions for COCON 2.1.5
1 - 11 of 11 items.
A general consideration about whether or not a person's conduct complies with the relevant requirements and standards of the market, is whether they, or the firm, comply2 with relevant market codes and exchange rules. Compliance with2 relevant market codes and exchange rules will tend to show compliance with rule 5 in COCON 2.1.5R.2
(1) The steps that an SMCR firm3 must take to ensure3 that its conduct rules staff understand how the rules in COCON apply to them include the provision of suitable training.(2) Suitable training should always ensure that those who are subject to the rules in COCON have an awareness and broad understanding of all of the rules in COCON, and that they also have a deeper understanding of the practical application of the specific rules which are relevant to their work.(3) For example:(a)
Territorial application of the PrinciplesPrincipleTerritorial applicationPrinciples1, 2 and 3in a prudential context, apply with respect to activities wherever they are carried on; otherwise, apply with respect to activities carried on from an establishment maintained by the firm (or its appointed representative) in the United Kingdom unless another applicable rule or EU regulation5which is relevant to the activity has a wider territorial scope, in which case the Principle applies
(1) The FCA2 will determine a figure that reflects the seriousness of the breach. In many cases, the amount of revenue generated by a firm from a particular product line or business area is indicative of the harm or potential harm that its breach may cause, and in such cases the FCA2 will determine a figure which will be based on a percentage of the firm’s revenue from the relevant products or business areas. The FCA2 also believes that the amount of revenue generated by a firm
(1) The FCA3 will determine a figure which will be based on a percentage of an individual’s “relevant income”. “Relevant income” will be the gross amount of all benefits received by the individual from the employment in connection with which the breach occurred (the “relevant employment”), and for the period of the breach. In determining an individual’s relevant income, “benefits” includes, but is not limited to, salary, bonus, pension contributions, share options and share schemes;