Related provisions for LR 13.3.2

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

The purposes of an internal audit are:(1) to ensure that the policies and procedures of the credit union are followed;(2) to provide the governing body5 with a continuous appraisal of the overall effectiveness of the control systems, including proposed changes;(3) to recommend improvements where desirable or necessary;(4) to determine whether the internal controls established by the governing body5 are being maintained properly and operated as laid down in the policy, and comply
The conditions referred to in ICOBS 8.4.4R (2)(d) and ICOBS 8.4.7R (1)(a)(ii) are that the tracing office is one which:(1) maintains a database which:(a) accurately and reliably stores information submitted to it by firms for the purposes of complying with these rules;(b) has systems which can adequately keep it up to date in the light of new information provided by firms;(c) has an effective search function which allows a person inputting data included on the database relating
(1) ICOBS 8.4.4R (2)(b) and ICOBS 8.4.9R (1) require a firm, or a tracing office used by a firm, to have an effective search function in relation to the employers’ liability register database. In the FCA's view an effective search function is one which finds all matches in the register to any specified whole word.(2) For the purposes of ICOBS 8.4.9R (5) the term ‘without delay’ should have the same meaning as in ICOBS 8.4.5G (2). (3) In order to assist firms with their obligations
(1) Before a P2P agreement is made, a firm must undertake an assessment of the creditworthiness of the prospective borrower.(2) A firm carrying out the assessment in (1) must consider: (a) the potential for the commitments under the P2P agreement to adversely impact the prospective borrower's financial situation, taking into account the information of which the firm is aware at the time the P2P agreement is to be made; and (b) the ability of the prospective borrower to make repayments
FEES 13.2.9RRP

Table of rules in FEES 4 that also apply to FEES 13 to the extent that in FEES 4 they apply to fees payable to the FCA.

FEES 4 rules incorporated into FEES 13


FEES 4.2.4R

Method of payment

FEES 4.2.7GR to FEES 4.2.7KR

Calculation of periodic fee and tariff base for a firm’s second financial year

FEES 4.2.8R

How FEES 4.2.7R applies in relation to an incoming EEA firm or an incoming Treaty firm

FEES 4.2.10R

Extension of time

FEES 4.2.11R (first entry only)

Due date and changes in permission for periodic fees

FEES 4.3.7R

Group of firms

FEES 4.3.13R

Firms applying to cancel or vary permission before start of period

FEES 4.3.17R

Firms acquiring businesses from other firms

FEES 4.4.1R to FEES 4.4.6R

Information on which fees are calculated

In determining whether or not the conduct of a senior conduct rules staff member complies with rules SC1 to SC4 in COCON, factors the FCA would expect to take into account include:(1) whether they exercised reasonable care when considering the information available to them;(2) whether they reached a reasonable conclusion upon which to act;(3) the nature, scale and complexity of the firm's business;(4) their role and responsibility as determined by reference to the relevant statement
In determining whether or not a person's conduct complies with rule SC4 in COCON 2.2.4R, the factors which the FCA would expect to take into account include:(1) whether it would be reasonable for the individual to assume that the information would be of material significance to the regulator concerned; (2) whether the information related to the individual themselves or to their firm; and(3) whether any decision not to report the matter was taken after reasonable enquiry and analysis
(1) Before significantly increasing:(a) the amount of credit to be provided under a regulated credit agreement; or(b) a credit limit for running-account credit under a regulated credit agreement;the lender must undertake an assessment of the customer's creditworthiness. [Note: section 55B(2) of CCA](2) A firm carrying out the assessment in (1) must consider: (a) the potential for the commitments under the regulated credit agreement to adversely impact the customer's financial
A firm must consider sufficient information available to it at the time of the increase referred to in CONC 6.2.1 R to enable it to make a reasonable assessment required by that rule or CONC 6.2.1AR. The provision of the guarantee or indemnity (or both), and the assessment of the guarantor, does not remove or reduce the obligation on the firm to carry out an assessment of the borrower under CONC 6.2.1R. Firms are reminded of the rule in CONC 5.3.4R that the assessment of the borrower
In the circumstances in MCOB 5A.4.2R (2), the rule in MCOB 5A.4.1R (1) will mean that the consumer may not make an application for an MCD regulated mortgage contract, as an ESIS has not been provided.