Guidance

SoP – The financial stability information power

Chapter

Scope

Printed on: 06/11/2024

Rulebook at: 19/06/2014

Scope

6

The PRA’s general objective is to promote the safety and soundness of PRA-authorised firms, primarily by seeking to minimise the adverse effect their failure could have on the stability of the UK financial system, and by seeking to ensure that firms carry on their business in a way that avoids any adverse effect on the stability of the UK financial system.

  • 19/06/2014

7

Consistent with this objective, the PRA may require any person in the categories listed below to provide information or documents that the PRA considers are, or might be, relevant to the stability of one or more aspects of the UK financial system:

  1. (a) a person who has a legal or beneficial interest in any of the assets of a relevant investment fund[5] whose assets consist of or include financial instruments which are traded in the United Kingdom or were issued by a body incorporated in the United Kingdom;
  2. (b) a person who is responsible for the management[6] of a relevant investment fund;
  3. (c) a person (a ‘service provider’) who provides any service[7] to an authorised person;
  4. (d) a person prescribed by an order made by HM Treasury under section 165C of FSMA or any person of a description prescribed by such an order; or
  5. (e) a person who is connected with a person specified in (a) to (d) above.
  • 5. A relevant investment fund refers to an arrangement that may constitute an investment fund even if there is only one person participating in the arrangements. The reference to ‘financial instruments’ has the meaning given by article 4.1(17) of the Markets in Financial Instruments Directive 2004/39/EC.
  • 6. ‘Management’ includes any of the activities listed in Annex II to the UCITS directive.
  • 7. ‘Service’ includes facility.
  • 19/06/2014