Related provisions for MCOB 2.8.3

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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 records required in MCOB must be readily accessible for inspection by the FCA.
(1) A firm may arrange for records to be kept in such form as it chooses, provided the record is readily accessible for inspection by the FCA.(2) Where a firm chooses to maintain records in electronic form, it should take reasonable steps to ensure that:(a) the electronic record accurately reflects the original information; and (b) the electronic record has not been subject to unauthorised or accidental alteration.
REC 2.5.19GRP
The FCA3 may also have regard to the arrangements for maintaining, recording and enforcing technical and operational standards and specifications for information technology systems, including:3(1) the procedures for the evaluation and selection of information technology systems;(2) the arrangements for testing information technology systems before live operations;(3) the procedures for problem management and system change;(4) the arrangements to monitor and report system performance,
The key elements of a satisfactory system of internal audit include the following:(1) Terms of reference. These should be specified with precision and include, amongst other things, scope and objectives of the audit committee and the internal audit function (see CREDS 2.2.11G), access to records, powers to obtain information and explanations for officers, and reporting requirements. These should be approved by the governing body5. (2) Risk analysis. Key risks in each area of the
(1) Depending on the nature, scale and complexity of its business, it may be appropriate for a firm to have a separate compliance function. The organisation and responsibilities of a compliance function should be documented. A compliance function should be staffed by an appropriate number of competent staff who are sufficiently independent to perform their duties objectively. It should be adequately resourced and should have unrestricted access to the firm's relevant records as
DTR 8.4.15RRP
A primary information provider must record the following information for each announcement of regulated information it disseminates: (1) the name of any person who communicates regulated information on behalf of an issuer or other organisation to the primary information provider;(2) the name of the issuer or organisation on whose behalf the regulated information is communicated;(3) the security validation details of the issuer or organisation;(4) the date and time the regulated
COLL 6.13.4RRP
(1) An authorised fund manager of a UCITS scheme or a UK UCITS management company of an EEA UCITS scheme must ensure the retention of the records referred to in COLL 6.13.2 R and COLL 6.13.3 R for a period of at least five years or, in exceptional circumstances and where directed by the FCA, for a longer period, determined by the nature of the instrument or portfolio transaction, where it is necessary to enable the FCA to exercise its supervisory functions under the UCITS Directive.(2)
EG 3.11.6RP
1Some themes or issues are common to any discussion about the potential use or value of a report to the FCA. These include: (1) to what extent the FCA will be able to rely on the report in any subsequent enforcement proceedings; (2) to what extent the FCA will have access to the underlying evidence or information that was relied upon in producing the report; (3) where legal privilege or other professional confidentiality is claimed over any material gathered or generated in the
COLL 11.6.13RRP
Where the authorised fund manager of a feeder UCITS gives notice to the FCA under section 251 or section 261Q1 of the Act or regulation 21 of the OEIC Regulations that it intends to wind up the scheme, it must inform:(1) the unitholders of the feeder UCITS; and(2) where notice is given under COLL 11.6.5R (4) (Application for approval by a feeder UCITS where a master UCITS merges or divides), the authorised fund manager of the master UCITS;of its intention without undue delay.[Note:
REC 2.1.4GRP

Location of recognition requirements and guidance

Recognition Requirements Regulations


Section in REC 2

Regulation 6

Method of satisfying recognition requirements


Part I of the Schedule

UK RIE recognition requirements

Paragraph 1

Financial resources


Paragraph 2



Paragraph 3

Systems and controls


Paragraphs 4(1) and 4(2)(aa)2


General safeguards for investors


Paragraph 4(2)(a)

Access to facilities


Paragraph 4(2)(b)

Proper markets


Paragraph 4(2)(c)

Availability of relevant information


Paragraph 4(2)(d)



Paragraph 4(2)(e)

Transaction recording


2Paragraph 4(2)(ea)



Paragraph 4(2)(f)

Financial crime and market abuse


Paragraph 4(2)(g)



Paragraph 4(3)

Definition of relevant information


2Paragraph 4A

Provision of pre-trade information about share trading


2Paragraph 4B

Provision of post-trade information about share trading


Paragraph 6

Promotion and maintenance of standards


Paragraph 7

Rules and consultation


2Paragraph 7A

Admission of financial instruments to trading


2Paragraph 7B and 7C

Access to facilities


2Paragraph 7D



2Paragraph 7E

Suspension and removal of financial instruments from trading


Paragraph 8



Paragraph 9



2Paragraph 9A

Operation of a multilateral trading facility


Part II of the Schedule

UK RIE default rules in respect of market contracts