Related provisions for SYSC 13.1.3
1 - 9 of 9 items.
2For a Solvency II firm which is an insurance special purpose vehicle or a third-country insurance or reinsurance undertaking, the systems and controls function is modified as follows:(1) it does not include any of the activities described in any PRA controlled function if that controlled function applies to the firm;(2) it does not include activities allocated to and carried on by another person who is a PRA approved person; and(3) it only includes that part of the function that
(1) The systems and controls function does not apply in relation to a PRA-authorised person. PRA approval is required instead.2(2) The exception is a Solvency II firm which is an insurance special purpose vehicle or a third-country insurance or reinsurance undertaking. For such firms, FCA approval may be required but only to the extent that the activities are not already covered by a PRA controlled function that applies to the firm or are not activities allocated to and carried
In a prospective valuation, a firm must:(1) include in the cash flows to be valued the following:(a) future premiums7;(b) expenses, including commissions7;(c) benefits payable (see INSPRU 1.2.29 R); and(d) subject to (2), amounts to be received or paid in respect of the long-term insurance contracts under contracts of reinsurance or analogous non-reinsurance financing agreements7; but(2) exclude from those cash flows amounts recoverable from an ISPV.
FCA controlled functionsPart 1 (FCA controlled functions for FCA-authorised persons and appointed representatives)TypeCFDescription of FCA controlled functionFCA governing functions*1Director function2Non-executive director function3Chief executive function4Partner function5Director of unincorporated association function6Small friendly society functionFCA required functions*8Apportionment and oversight function10Compliance oversight function10ACASS operational oversight function11Money
Applicable sections (see SUP 3.1.1 R)This table and the provisions in SUP 3 should be read in conjunction with GEN 2.2.23 R to GEN 2.2.25 G. In particular, the PRA does not apply any of the provisions in SUP 3 in respect of FCA-authorised persons. SUP 3.10 and SUP 3.11 are applied by the FCA only.37(1) Category of firm(2) Sections applicable to the firm(3) Sections applicable to its auditor(1) Authorised professional firm which is required by IPRU(INV) 2.1.2R to comply with chapters
1Subject to SYSC 12.1.2 R to SYSC 12.1.4 R, this section applies to each of the following which is a member of a group:(1) a firm that falls into any one or more of the following categories:(a) a regulated entity that is:15(i) an investment firm, except a designated investment firm unless (ii) applies; or 15(ii) a credit institution or designated investment firm that is a subsidiary undertaking of a parent institution in a Member State that is an IFPRU investment firm;15(b)
Table of FEES 4 rules that correspond to FEES 7 rulesFEES 4 rules Corresponding FEES 7 rulesFEES 4.2.1 RFEES 7.2.1 RFEES 4.3.1 RFEES 7.2.2 RFEES 4.3.3 RFEES 7.2.2 R11FEES 4.3.3A RFEES 7.2.2 RFEES 4.3.12 RFEES 7.2.5 R11FEES 4.3.12A RFEES 7.2.5 RPart 1 of 6FEES 4 Annex 2A6Part 1 of FEES 7 Annex 111Part 2 of FEES 4 Annex 11Part 1 of FEES 7 Annex 11Part 5 of FEES 4 Annex 11Part 1 of FEES 7 Annex 1