Related provisions for MCOB 9.4.171

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MCOB 9.4.139RRP
8Under the section heading "Description of this home reversion plan" the illustration must:(1) state the name of the reversion provider providing the home reversion plan to which the illustration relates (a trading name used by the reversion provider may also be stated), and the name, if any, used to market the home reversion plan;(2) include a statement describing the home reversion plan;(3) if the home reversion plan is linked to an investment, and payments required from the
MCOB 9.4.142RRP
8Under the section heading "Benefits", the illustration must include:(1) a description of the monetary amount(s), and in a box aligned to the right of the document, the monetary amount(s), that the customer will receive as a lump sum and/or as a regular payment;(2) if the home reversion plan is linked to an investment and the payments required from the customer on the home reversion plan will be deducted from the income from the investment, the monetary amount of the net income
MCOB 9.4.145RRP
8The illustration must include under the heading "Risks - important things you must consider" brief statements and warnings on all material risks involving a home reversion plan, including:(1) prominently at the beginning of the section: "A home reversion is a complex property transaction. You should seek legal advice to ensure that you fully understand all of the implications for you and your home and for anyone who might otherwise inherit the property.";(2) the effect of the
MCOB 9.4.169RRP
8If the amount payable by the reversion provider to the reversion intermediary and to third parties is £250 or less, the reversion intermediary need only state that the amount of the payment is "no more than £250", unless the customer requests the actual amount.
MCOB 9.4.170RRP
8If the reversion intermediary will pass to the customer all or part of the amount payable to the reversion intermediary by the reversion provider, that fact may be stated in this section, along with the amount payable to the customer.
MCOB 9.4.172RRP
8The amount disclosed as payable to the reversion intermediary or third parties must include, but is not limited to:(1) any procuration fee; and(2) a cash value for any material non-cash inducements that the reversion provider provides, whether payable directly or indirectly.
SYSC 13.6.2GRP
A firm should establish and maintain appropriate systems and controls for the management of operational risks that can arise from employees. In doing so, a firm should have regard to:(1) its operational risk culture, and any variations in this or its human resource management practices, across its operations (including, for example, the extent to which the compliance culture is extended to in-house IT staff);(2) whether the way employees are remunerated exposes the firm to the
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