What does SUP stand for FCA?
The FCA’s Supervision Manual (SUP) addresses the day to day relationship between the FCA, authorized persons (firms), key individuals within them, their appointed representatives and tied agents, and those who own or control them.
What is SMF27?
SMF27 – Partner. A partner of a firm other than a limited partner in a partnership registered under the Limited Partnership Act 1907. A member of a limited liability partnership which is a senior manager would fall within this SMF.
What is a cf4 partner?
CF 4 Partner function If a firm is a partnership, the partner function is the function of acting in the capacity of a partner in that firm. If the principal purpose of the firm is to carry on one or more regulated activities, each partner performs the partner function.
What is FCA perg?
PERG 9 : Meaning of open-ended investment company. any person who needs to know whether a body corporate is an open-ended investment company as defined in section 236 of the Act (Open-ended investment companies) and is therefore a collective investment scheme.
Do NEDs need to be certified?
Training – NEDs will need to be trained and will have to abide by the Conduct Rules from 9 December 2019. Fitness and Propriety – The FCA Handbook requires firms (except Limited Scope firms) to make sure anyone performing a NED role is fit and proper for their role.
What is a CF30?
CF30 is the customer-dealing function that regulates how advisory services are provided by financial firms to their customers. You can browse through the list of training providers that offer financial compliance courses and find out which responsibilities of the FSA are now undertaken by the FCA.
What is a CF10?
CF10 is an FCA (Financial Conduct Authority) controlled function (CF) referring to compliance oversight for the company that the CF10 is employed by. CF11 is an FCA (Financial Conduct Authority) controlled function (CF) responsible for the overall AML compliance of the organisation.
What is the FCA perimeter?
The FCA remit, or perimeter, determines which activities require FCA authorisation and what level of protection consumers can expect for the financial services and products they purchase. The perimeter is decided by the Government and Parliament through legislation.
What is arranging deals in investments?
Under article 25 of the Regulated Activities Order, arranging deals in investments covers: (1) making arrangements for another person (whether as principal or agent) to buy, sell, subscribe for or underwrite a particular investment which is: (a) a security or a structured deposit; or.
Who do Sysc rules apply to?
Who? The common platform requirements apply to every firm apart from an insurer, a UK ISPV, a managing agent and the Society unless provided otherwise in a specific rule. SYSC 4.1. 4 R and SYSC 6.3.
What does the Sysc handbook address?
SYSC is designed to ensure that responsibility for proper organisation of the business is given to specific, competent individuals, and to ensure that directors and senior managers take direct, practical responsibility for the organisation of elements of the business that might fall under the remit of the FCA.
Does the FCA approve individuals for each function under SUP 10c?
The FCA does not aim or expect to approve individuals to perform this function for every firm to which the function potentially applies under SUP 10C Annex 1 (What functions apply to what type of firm) just because the firm is part of a group.
Does sup 10c require a firm to set up a committee?
However, nothing in SUP 10C requires a firm to set up one of the committees mentioned in this section if the firm is not required to have that committee by a rule elsewhere in the FCA Handbook or by some other requirement of the regulatory system.
What is the purpose of a sup 13A notification?
The sole purpose of the notification in SUP 13A.4.5 R is to enable the FSA to supervise the UK branch of the incoming EEA firm’s compliance with the applicable provisions on an ongoing basis. The applicable provisions that apply to that branch are set out in SUP 13A Annex 1 G (Application of the Handbook to Incoming EEA Firms).
What are the regulatory processes in the FCA Handbook?
The Supervision manual ( SUP) and Decision Procedure and Penalties manual ( DEPP) form the Regulatory Processes part of the Handbook. SUP sets out the relationship between the FCA and authorised persons (referred to in the Handbook as firms ).