Related provisions for SYSC 5.1.12A
1 - 20 of 61 items.
3A firm that is not a common platform firm or a management company10 should take into account the decision-making procedures and effective internal reporting rules (SYSC 4.1.4R (1),10(3) and (4))10 as if they were guidance (and as if "should" appeared in those rules21 instead of "must") as explained in SYSC 1 Annex 1 3.3 R(1)21.5
16For a common platform firm:(1) the MiFID Org Regulation applies, as summarised in SYSC 1 Annex 1 3.2G, SYSC 1 Annex 1 3.2-AR and SYSC 1 Annex 1 3.2-BR; and(2) the rules and guidance apply as set out in the table below:SubjectApplicable rule or guidanceAdequate policy and proceduresSYSC 6.1.1R, SYSC 6.1.1AGCompliance functionSYSC 6.1.4-AG, SYSC 6.1.7RInternal auditSYSC 6.2.2GFinancial crimeSYSC 6.3.1R to SYSC 6.3.11G
MCOB 11.6.50 R sets out requirements for mortgage lenders to have appropriate procedures for managing interest-only mortgages in order to safeguard the interests of customers. Firms are reminded of the rules and guidance in SYSC (notably SYSC 7.1) relating to systems and controls for the management of risks to which firms themselves are exposed. Firms will need to consider whether their systems and controls are adequate in relation to the management of risks arising from interest-only