Related provisions for CONC 8.7.5

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To access the FCA Handbook Archive choose a date between 1 January 2001 and 31 December 2004 (From field only).

FEES 4.4.9DRP
3To the extent that a firm4 has provided the information required by FEES 4.4.7 D to the FCA as part of its compliance with another provision of the Handbook, it is deemed to have complied with the provisions of that direction.444
CONC 8.7.4RRP
A firm must:(1) in good time before entering into a contract with the customer, disclose the existence of any commission or incentive payments relevant to the service provided to the customer between the firm and any third party and at any time, if the customer requests, disclose the amount of any such commission or incentive payment; [Note: paragraph 3.34b and c of DMG](2) send a revised financial statement in the same format as that required under CONC 8.5.1 R to the customer'slenders
CONC 8.7.6RRP
A firm must not:(1) without a reasonable justification, switch a customer from one debt solution to another while making a further charge for setting up or administering the new debt solution to the extent that some or all of that work has already been carried out by the firm; [Note: paragraphs 3.32 and 34k of DMG](2) switch a customer to a different debt solution, without obtaining the customer's consent after having fully explained to the customer the reason for the change;
CONC 8.4.2RRP
A firm must include in its written contract (other than a credit agreement to which the Consumer Credit (Agreements) Regulations 2010 apply) the following matters:(1) the nature of the service to be provided by the firm, including the specific debt solution to be offered to the customer; [Note: paragraph 3.40b of DMG](2) the duration of the contract; [Note: paragraph 3.40c of DMG](3) the total cost of the firm's service or, where it is not possible to state the total cost, the
CONC 8.4.4GRP
A firm may be required to make a refund of its fees and charges, in whole or in part, if a firm fails to deliver its service in whole or in part or it has carried out the service without reasonable care and skill.
FEES 6.7.6RRP
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
1The total cost of credit to the borrower includes fee or charge payable by the borrower to a credit broker, if the fee or charge is known to the lender. CONC 4.4.2R(3) requires the credit broker to disclose their fee to the lender. Lenders should take reasonable steps to ascertain whether a fee is payable to the credit broker and, if so, the amount of the fee.
CASS 5.5.17GRP
(1) As soon as commission becomes due to the firm (in accordance with CASS 5.5.16 R (1)) it must be treated as a remittance which must be withdrawn in accordance with CASS 5.5.16 R (2). 2The procedure required by CASS 5.5.16 R will also 2apply where moneyis 2due and payable 2to the firm in respect of fees due from clients (whether to the firm or other professionals).(2) Firms are reminded that money received in accordance with CASS 5.2 must not, except where a firm and an insurance
CONC 8.3.1RRP
A firm must (except where the contract is a credit agreement to which the disclosure regulations apply) provide sufficient information, in1 a durable medium, when the customer first enquires about the firm's services, about the following matters to enable the customer to make a reasonable decision:1(1) the nature of the firm's service offered in the contract to the customer; [Note: paragraph 3.38b of DMG](2) the duration of the contract; [Note: paragraph 3.38c of DMG](3) the total
CONC 8.5.1RRP
A firm must ensure that a financial statement sent to a lender on behalf of a customer: (1) is accurate and realistic and must present a sufficiently clear and complete account of the customer's income and expenditure, debts and the availability of surplus income; [Note: paragraph 3.24 of DMG](2) state any fees or charges being made by the firm; (3) is sent only after having obtained the customer's consent to send the statement and the customer's confirmation as to the accuracy
CONC 4.6.2RRP
(1) Before entering into a regulated credit agreement or regulated consumer hire agreement, or before a P2P agreement is entered into, under which the customer may grant a continuous payment authority, the firm must provide the customer with an adequate explanation of the matters in (2).(2) The matters referred to in (1) are:(a) what a continuous payment authority is and how it works;(b) how the continuous payment authority will be applied by the firm, including where the firm
SYSC 20.1.1ARRP
(1) 4SYSC 20 applies to:(a) an IFPRU investment firm; and(b) a BIPRU firm which meets any of the criteria in (2) on an individual basis, or in (3) on a consolidated basis.(2) Subject to (4), SYSC 20 applies to a BIPRU firm if:(a) it has assets under management or administration of at least £10 billion (or the equivalent amount in foreign currency); or(b) the total annual fee and commission arising from regulated activities is at least £250 million (or the equivalent amount in
CREDS 10.1.3RP
ModuleRelevance to Credit UnionsThe Principles for Businesses (PRIN)The Principles for Businesses (PRIN) set out 3high-level requirements 3imposed by the FCA3. They provide a general statement of regulatory requirements. The Principles apply to all9credit unions. In applying the Principles to credit unions, the FCA3 will be mindful of proportionality. In practice, the implications are likely to vary according to the size and complexity 3of the credit union.99999Senior Management
CONC 8.8.1RRP
A firm in relation to a customer with whom it has entered into a debt management plan must: (1) maintain contact with the customer; [Note: paragraph 3.44 of DMG](2) regularly monitor and review the financial position and circumstances of the customer; [Note: paragraph 3.44 of DMG](3) adapt the debt management plan to take into account relevant changes in the financial position and circumstances of the customer;[Note: paragraph 3.44 of DMG](4) inform the customer without delay
CASS 7.11.31GRP
When commission rebate becomes due and payable to the client, the firm should: (1) treat it as client money; or(2) pay it out in accordance with the rule regarding the discharge of a firm's fiduciary duty to the client (see CASS 7.11.34 R); unless the firm and the client have entered into an arrangement under which the client has agreed to transfer full ownership of this money to the firm as collateral against payment of future professional fees (see CASS 7.11 (Title transfer