Notifications to the FSA

Part

SUP Supervision manual

Chapter

Notifications to the FSA

Printed on: 06/11/2024

Rulebook at: 01/12/2004

SUP 15

Notifications to the FSA

SUP 15.1

Application

01/12/2004

Who?

SUP 15.1.1

This chapter applies to every firm except an ICVC or a UCITS qualifier.

21/06/2001

SUP 15.1.2

The application of this chapter to an incoming EEA firm or an incoming Treaty firm is set out in SUP 15 Annex 1.

21/06/2001

SUP 15.1.3

In some cases, the application of provisions set out in SUP 15 Annex 1 depends on whether responsibility is reserved to a Home State regulator. SYSC App 1 contains guidance on this.

21/06/2001

What?

SUP 15.1.4

This chapter:

(1) applies with respect to the carrying on of both regulated activities and unregulated activities; and

(2) takes into account any activity of other members of a group of which the firm is a member.

21/06/2001

Where?

SUP 15.1.5

Firms are reminded that:

(1) unless expressly stated otherwise, where a rule or guidance includes a reference to a firm this includes all UK and overseas branches and representative offices of that firm, whether or not those branches or offices carry on any regulated activities; and

(2) ECO 1.1.6 R has the effect that this chapter does not apply to an incoming ECA provider acting as such.

01/11/2002

SUP 15.2

Purpose

01/12/2004

SUP 15.2.1

A firm is required to provide the FSA with a wide range of information to enable the FSA to meet its responsibilities for monitoring the firm's compliance with requirements imposed by or under the Act. Some of this information is provided through regular reports, including those set out in SUP 16 (Reporting requirements) and SUP 17 (Transaction reporting). In addition, other chapters in the Handbook set out specific notification and reporting requirements. Principle 11 includes a requirement for a firm to disclose to the FSA appropriately anything relating to the firm of which the FSA would reasonably expect notice.

21/06/2001

SUP 15.2.2

This chapter sets out:

(1) guidance on the type of event or change in condition which a firm should consider notifying in accordance with Principle 11; the purpose of this guidance is to set out examples and not to give comprehensive advice to firms on what they should notify in order to be in compliance with Principle 11;
(2) rules on events and changes in condition that a firm must notify; these are the types of event that the FSA must be informed about, usually as soon as possible, if it is to be able to carry out its monitoring function effectively and react in good time to developments that may require a regulatory response;
(3) rules on the core information that a firm must provide to the FSA, for example its name and address and the names of its other regulators, so that the FSA is able to maintain a relationship with the firm and with those regulators; and
(4) rules requiring a firm to ensure that information provided to the FSA is accurate and complete; section 398 of the Act makes it an offence knowingly or recklessly to provide the FSA with information which is false or misleading in a material particular, in purported compliance with any requirement imposed by or under the Act; the purpose of the rules in SUP 15.6 is to ensure that firms take due care to ensure the accuracy of information and to require them to ensure that information is not only accurate but also complete.

21/06/2001

SUP 15.2.3

Rules and guidance have also been included to set out how firms should make a notification and to determine when it may be appropriate to discuss matters with their usual supervisory contact by telephone (SUP 15.7).

21/06/2001

SUP 15.2.4

Schedule 2 contains a consolidated summary of all the notification rules applicable to firms set out in the Handbook.

21/06/2001

SUP 15.3

General notification requirements

01/12/2004

Matters having a serious regulatory impact

SUP 15.3.1

A firm must notify the FSA immediately it becomes aware, or has information which reasonably suggests, that any of the following has occurred, may have occurred or may occur in the foreseeable future:

(1) the firm failing to satisfy one or more of the threshold conditions; or

(2) any matter which could have a significant adverse impact on the firm's reputation; or

(3) any matter which could affect the firm's ability to continue to provide adequate services to its customers and which could result in serious detriment to a customer of the firm; or

(4) any matter in respect of the firm which could result in serious financial consequences to the financial system or to other firms.

21/06/2001

SUP 15.3.2

The circumstances which may give rise to any of the events in SUP 15.3.1 R are wide-ranging and the probability of any matter resulting in such an outcome, and the severity of the outcome, may be difficult to determine. However, the FSA expects firms to consider properly all potential consequences of events.

21/06/2001

SUP 15.3.3

In determining whether an event that may occur in the foreseeable future should be notified to the FSA, a firm should consider both the probability of the event happening and the severity of the outcome should it happen.

21/06/2001

SUP 15.3.4

Guidance on satisfaction of the threshold conditions is given in COND.

21/06/2001

SUP 15.3.5

A firm making a notification in accordance with SUP 15.3.1 R should consider the guidance in SUP 15.7.2 G and notify the FSA by telephone if appropriate.

21/06/2001

SUP 15.3.6

An insurer or friendly society making a notification under SUP 15.3.1 R (1) relating to satisfaction of threshold condition 4 (Adequate resources) should be aware of the requirements in SUP App 2 (Scheme of operations).

21/06/2001

Communication with the FSA in accordance with Principle 11

SUP 15.3.7

Principle 11 requires a firm to deal with its regulators in an open and cooperative way and to disclose to the FSA appropriately anything relating to the firm of which the FSA would reasonably expect notice. Principle 11 applies to unregulated activities as well as regulated activities and takes into account the activities of other members of a group.

21/06/2001

SUP 15.3.9

The period of notice given to the FSA will depend on the event, although the FSA expects a firm to discuss relevant matters with it at an early stage, before making any internal or external commitments.

21/06/2001

SUP 15.3.10

A notification under Principle 11 may be given orally or in writing (as set out in SUP 15.7.1 R and SUP 15.7.2 G), although the FSA may request written confirmation of a matter. However, it is the responsibility of a firm to ensure that matters are properly and clearly communicated to the FSA. A firm should provide a written notification if a matter either is complex or may be such as to make it necessary for the FSA to take action. A firm should also have regard to Principle 11 and the guidance in SUP 15.7.2 G in respect of providing important information promptly.

21/06/2001

Breaches of rules and other requirements in or under the Act

SUP 15.3.11

(1) A firm must notify the FSA of:

(a) a significant breach of a rule (which includes a Principle) or Statement of Principle; or
(b) a breach of any requirement imposed by the Act or by regulations or an order made under the Act by the Treasury (except if the breach is an offence, in which case (c) applies); or
(c) the bringing of a prosecution for, or a conviction of, any offence under the Act;

by (or as regards (c) against) the firm or any of its directors, officers, employees, approved persons, or appointed representatives or, where applicable, tied agents.
(2) A firm must make the notification in (1) immediately it becomes aware, or has information which reasonably suggests, that any of the matters in (1) has occurred, may have occurred or may occur in the foreseeable future.

21/06/2001

SUP 15.3.12

In SUP 15.3.11 R(1)(a), significance should be determined having regard to potential financial losses to customers or to the firm, frequency of the breach, implications for the firm's systems and controls and if there were delays in identifying or rectifying the breach.

21/06/2001

SUP 15.3.13

In assessing whether an event that may occur in the foreseeable future should be notified to the FSA, a firm should consider the guidance in SUP 15.3.3 G.

21/06/2001

SUP 15.3.14

A notification under SUP 15.3.11 R should include:

(1) information about any circumstances relevant to the breach or offence;

(2) identification of the rule or requirement or offence; and

(3) information about any steps which a firm or other person has taken or intends to take to rectify or remedy the breach or prevent any future potential occurrence.

21/06/2001

Civil, criminal or disciplinary proceedings against a firm

SUP 15.3.15

A firm must notify the FSA immediately if:

(1) civil proceedings are brought against the firm and the amount of the claim is significant in relation to the firm's financial resources or its reputation; or

(2) any action is brought against the firm under section 71 of the Act (Actions for damages) or section 150 (Actions for damages); or

(3) disciplinary measures or sanctions have been imposed on the firm by any statutory or regulatory authority, professional organisation or trade body (other than the FSA) or the firm becomes aware that one of those bodies has started an investigation into its affairs; or

(4) the firm is prosecuted for, or convicted of, any offence involving fraud or dishonesty, or any penalties are imposed on it for tax evasion; or

(5) it is an OPS firm, which is a trustee, and is removed as trustee by a court order.

21/06/2001

SUP 15.3.16

A notification under SUP 15.3.15 R should include details of the matter and an estimate of the likely financial consequences, if any.

21/06/2001

Fraud, errors and other irregularities

SUP 15.3.17

A firm must notify the FSA immediately if one of the following events arises and the event is significant:

(1) it becomes aware that an employee may have committed a fraud against one of its customers; or

(2) it becomes aware that a person, whether or not employed by it, may have committed a fraud against it; or

(3) it considers that any person, whether or not employed by it, is acting with intent to commit a fraud against it; or

(4) it identifies irregularities in its accounting or other records, whether or not there is evidence of fraud; or

(5) it suspects that one of its employees may be guilty of serious misconduct concerning his honesty or integrity and which is connected with the firm's regulated activities or ancillary activities.

21/06/2001

SUP 15.3.18

In determining whether a matter is significant, a firm should have regard to:

(1) the size of any monetary loss or potential monetary loss to itself or its customers (either in terms of a single incident or group of similar or related incidents);

(2) the risk of reputational loss to the firm; and

(3) whether the incident or a pattern of incidents reflects weaknesses in the firm's internal controls.

21/06/2001

SUP 15.3.19

The notifications under SUP 15.3.17 R are required as the FSA needs to be aware of the types of fraudulent and irregular activity which are being attempted or undertaken, and to act, if necessary, to prevent effects on consumers or other firms. A notification under SUP 15.7.3 G should provide all relevant and significant details of the incident or suspected incident of which the firm is aware.

21/06/2001

SUP 15.3.20

In addition, the firm may have suffered significant financial losses as a result of the incident, or may suffer reputational loss, and the FSA will wish to consider this and whether the incident suggests weaknesses in the firm's internal controls.

21/06/2001

Insolvency, bankruptcy and winding up

SUP 15.3.21

A firm must notify the FSA immediately of any of the following events:

(1) the calling of a meeting to consider a resolution for winding up the firm; or

(2) an application to dissolve the firm or to strike it off the Register of Companies; or

(3) the presentation of a petition for the winding up of the firm; or

(4) the making of, or any proposals for the making of, a composition or arrangement with any one or more of its creditors; or

(5) an application for the appointment of an administrator or trustee in bankruptcy to the firm; or

(6) the appointment of a receiver to the firm (whether an administrative receiver or a receiver appointed over particular property); or

(7) an application for an interim order against the firm under section 252 of the Insolvency Act 1986 (or, in Northern Ireland, section 227 of the Insolvency (Northern Ireland) Order 1989); or

(8) if the firm is a sole trader:

(a) an application for a sequestration order on the firm; or

(b) the presentation of a petition for bankruptcy; or

(9) anything equivalent to (1) to (8) above occurring in respect of the firm in a jurisdiction outside the United Kingdom.

21/06/2001

SUP 15.4

Notified persons

01/12/2004

SUP 15.4.1

(1) An overseas firm, which is not an incoming firm, must notify the FSA within 30 business days of any person taking up or ceasing to hold the following positions:

(a) the firm's worldwide chief executive (that is, the person who, alone or jointly with one or more others, is responsible under the immediate authority of the directors for the whole of its business) if the person is based outside the United Kingdom;

(b) the person within the overseas firm with a purely strategic responsibility for UK operations (see SUP 10.7.4 G);

(c) for a bank or an ELMI: the two or more persons who effectively direct its business in accordance with IPRU(BANK) GN 3.3.1R and ELM 5.3.1 , respectively;

(d) for an insurer: the authorised UK representative.

(2) The notification in (1) must be submitted using Form F (SUP 15 Ann 2). However, if the person is an approved person, notification giving details of his name, the approved person's FSA individual reference number and the position to which the notification relates, is sufficient.

21/06/2001

SUP 15.4.2

SUP 15.4.1 R is not made under the powers conferred on the FSA by Part V of the Act (Performance of Regulated Activities). A person notified to the FSA under SUP 15.4.1 R is not subject to the Statements of Principle or Code of Practice for Approved Persons, unless he is also an approved person.

21/06/2001

SUP 15.4.3

Copies of Form F may be obtained from the FSA website at www.fsa.gov.uk or from the Individual Vetting and Approval department. See SUP 10.11.6 G for contact details.

21/06/2001

SUP 15.4.4

If adverse information is revealed about a person notified to the FSA under SUP 15.4.1 R, the FSA may exercise its own-initiative power against the firm (see SUP 7 (Individual requirements)).

21/06/2001

SUP 15.5

Core information requirements

01/12/2004

Change in name

SUP 15.5.1

A firm must give the FSA reasonable advance notice of a change in:

(1) the firm's name (which is the registered name if the firm is a body corporate);

(2) any business name under which the firm carries on a regulated activity or ancillary activity either from an establishment in the United Kingdom or with or for clients in the United Kingdom.

21/06/2001

SUP 15.5.2

A notification under SUP 15.5.1 R should include the details of the proposed new name and the date on which the firm intends to implement the change of name.

21/06/2001

SUP 15.5.3

Firms are reminded that certain name changes (for example, to include 'Limited') may also require a notification under SUP 15.5.5 R.

21/06/2001

Change in address

SUP 15.5.4

A firm must give the FSA reasonable advance notice of a change in any of the following addresses, and give details of the new address and the date of the change:

(1) the firm's principal place of business in the United Kingdom;

(2) in the case of an overseas firm, its registered office (or head office) address.

21/06/2001

Change in legal status

SUP 15.5.5

A firm must give the FSA reasonable advance notice of a proposed change in its legal status which limits the liability of any of its members or partners.

21/06/2001

SUP 15.5.6

For the purpose of SUP 15.5.5 R, limiting liability includes:

(1) re-registration as a limited liability company of a company incorporated with unlimited liability; and

(2) a general partner in a firm becoming a limited partner.

21/06/2001

Other regulators

SUP 15.5.7

A firm must notify the FSA immediately if it becomes subject to or ceases to be subject to the supervision of any overseas regulator (including a Home State regulator).

21/06/2001

SUP 15.5.8

The FSA's approach to the supervision of a firm is influenced by the regulatory regime and any legislative or foreign provisions to which that firm, including its branches, is subject.

21/06/2001

SUP 15.6

Inaccurate, false or misleading information

01/12/2004

SUP 15.6.1

A firm must take reasonable steps to ensure that all information it gives to the FSA in accordance with a rule in any part of the Handbook (including Principle 11) is:

(1) factually accurate or, in the case of estimates and judgments, fairly and properly based after appropriate enquiries have been made by the firm; and

(2) complete, in that it should include anything of which the FSA would reasonably expect notice.

21/06/2001

SUP 15.6.2

SUP 15.6.1 R applies also in relation to rules outside this chapter, and even if they are not notification rules. Examples of rules and chapters to which SUP 15.6.1 R is relevant, are:

(1) Principle 11, and the guidance on Principle 11 in SUP 2 (Information gathering by the FSA on its own initiative);

(2) SUP 15 (Notifications to the FSA):

(3) SUP 16 (Reporting requirements);

(4) SUP 17 (Transaction reporting); and

(5) any notification rule (see Schedule 2 which contains a consolidated summary of such rules).

21/06/2001

SUP 15.6.3

If a firm is unable to obtain the information required in SUP 15.6.1 R(2), then it should inform the FSA that the scope of the information provided is, or may be, limited.

21/06/2001

SUP 15.6.4

If a firm becomes aware, or has information that reasonably suggests that it has or may have provided the FSA with information which was or may have been false, misleading, incomplete or inaccurate, or has or may have changed in a material particular, it must notify the FSA immediately. Subject to SUP 15.6.5 R, the notification must include:

(1) details of the information which is or may be false, misleading, incomplete or inaccurate, or has or may have changed;

(2) an explanation why such information was or may have been provided; and

(3) the correct information.

21/06/2001

SUP 15.6.5

If the information in SUP 15.6.4 R (3) cannot be submitted with the notification (because it is not immediately available), it must instead be submitted as soon as possible afterwards.

21/06/2001

SUP 15.6.6

The FSA may request the firm to provide revised documentation containing the correct information, if appropriate.

21/06/2001

SUP 15.6.7

Firms are reminded that section 398 of the Act (Misleading the Authority: residual cases) makes it an offence for a firm knowingly or recklessly to provide the FSA with information which is false or misleading in a material particular in purported compliance with the FSA's rules or any other requirement imposed by or under the Act. An offence by a body corporate, partnership or unincorporated association may be attributed to an officer or certain other persons (section 400 of the Act (Offences by bodies corporate etc)).

21/06/2001

SUP 15.7

Form and method of notification

01/12/2004

Form of notification: oral or written

SUP 15.7.1

A notification required from a firm under any notification rule must be given in writing, and in English, and must be submitted on the form specified for that notification rule, or if no form is specified, on the form in SUP 15 Ann 3R (Notification form), and must give the firm's FSA Firm Reference Number unless:

(1) the notification rulestates otherwise; or

(2) the notification is provided solely in compliance with Principle 11 (see SUP 15.3.7 G).

01/11/2004

SUP 15.7.2

A firm should have regard to the urgency and significance of a matter and, if appropriate, should also notify its usual supervisory contact at the FSA by telephone or by other prompt means of communication, before submitting a written notification. Oral notifications should be given directly to the firm's usual supervisory contact An oral notification left with another person or left on a voicemail or other automatic messaging service is unlikely to have been given appropriately.

01/11/2004

SUP 15.7.3

The FSA is entitled to rely on any information it receives from a firm and to consider any notification received as being made by a person authorised by the firm to do so. A firm should therefore consider whether it needs to put procedures in place to ensure that only appropriate employees make notifications to the FSA on its behalf.

21/06/2001

Method of notification

SUP 15.7.4

Unless stated in the notification rule, or on the relevant form (if specified), a written notification required from a firm under any notification rule must be:

(1) given to or addressed for the attention of the firm's usual supervisory contact at the FSA; and

(2) delivered to the FSA by one of the methods in :

01/11/2004

SUP 15.7.5

Methods of notification

Method of delivery

Post to the appropriate address in SUP 15.7.6 G

Leaving the notification at the appropriate address in SUP 15.7.6 G and obtaining a time-stamped receipt

Electronic mail to an address for the firm's usual supervisory contact at the FSA and obtaining an electronic confirmation of receipt

Hand delivery to the firm's usual supervisory contact at the FSA

Fax to a fax number for the firm's usual supervisory contact at the FSA and receiving a successful transmission report for all pages of the notification.

Online submission via the FSA's website at www.fsa.gov.uk.

01/11/2004

SUP 15.7.6

The current published address of the FSA for postal submission or hand delivery of notifications is:

(1)

The Financial Services Authority

25 The North Colonnade

Canary Wharf

London E14 5HS

if the firm's usual supervisory contact at the FSA is based in London, or

(2)

The Financial Services Authority

Quayside House

127 Fountainbridge

Edinburgh EH3 8DJ

if the firm's usual supervisory contact at the FSA is based in Edinburgh.

21/06/2001

SUP 15.7.7

If the firm or its group is subject to lead supervision arrangements by the FSA, the firm or group may give or address a notice under SUP 15.7.4 R(1) to the supervisory contact at the FSA, designated as lead supervisor, if the firm has chosen to make use of the lead supervisor as a central point of contact (see SUP 1.5).

21/06/2001

SUP 15.7.8

If a firm is a member of a group which includes more than one firm, any one undertaking in the group may notify the FSA on behalf of all firms in the group to which the notification applies. In this way, that undertaking may satisfy the obligation of all relevant firms in the group to notify the FSA. Nevertheless, the obligation to make the notification remains the responsibility of the individual firm itself. See also SUP 15.7.3 G.

21/06/2001

SUP 15.7.9

Firms wishing to communicate with the FSA by electronic mail or fax should obtain the appropriate address or number from the FSA

21/06/2001

Timely notification

SUP 15.7.10

If a notification rule requires notification within a specified period:

(1) the firm must give the notification so as to be received by the FSA no later than the end of that period; and

(2) if the end of that period falls on a day which is not a business day, the notification must be given so as to be received by the FSA no later than the first business day after the end of that period.

21/06/2001

SUP 15.7.11

If a notification rule does not require notification within a specified period, the firm should act reasonably in deciding when to notify.

21/06/2001

Underwriting agents: notification to the Society of Lloyd's

SUP 15.7.12

(1) Paragraph (2) applies in relation to notifications required under this chapter within the scope of any arrangements made by the FSA with the Society of Lloyd's under paragraph 6(2) of Schedule 1 to the Act.

(2) An underwriting agent must submit the notifications in (1) to the Society of Lloyd's rather than to the FSA.

21/06/2001

SUP 15.7.13

Paragraph 6(2) of Schedule 1 to the Act enables the FSA to make arrangements which provide for monitoring functions to be performed by any body or person who, in its opinion, is competent to perform them. Arrangements made under this provision are published by the FSA.

21/06/2001

SUP 15.7.14

The FSA has made arrangements with the Society of Lloyd's with respect to the monitoring of underwriting agents. Underwriting agents should check whether these arrangements provide for any notifications required under this chapter to be sent to the Society instead of to the FSA. [For further details see the FSA website.]

21/06/2001

Consequences of breach of form and method rules

SUP 15.7.15

If a firm fails to comply with the rules in this section then the notification is invalid and there may be a breach of the rule that required the notification to be given.

21/06/2001

Service of Notices Regulations

SUP 15.7.16

The Financial Services and Markets Act 2000 (Service of Notices) Regulations 2001 (SI 2001/1420) contain provisions relating to the service of documents on the FSA. They do not apply to notifications required under notification rules because of the specific rules in this section.

21/06/2001

SUP 15.8

Notification in respect of particular products and services

01/12/2004

Management of occupational pension scheme assets

SUP 15.8.1

A firm which manages the assets of an occupational pension scheme must notify the FSA as soon as reasonably practicable if it receives any request or instruction from a trustee which it:

(1) knows; or

(2) on substantial grounds:

(a) suspects; or

(b) has cause reasonably to suspect;

is at material variance with the trustee's duties.

21/06/2001

Individual Pension Accounts

SUP 15.8.2

If a firm begins or ceases to administer individual pension accounts, it must notify the FSA as soon as reasonably practicable that it has done so.

01/09/2003

Insurers' commission clawback

SUP 15.8.3

(1) An insurer must notify the FSA in respect of any firm (the "intermediary") as soon as reasonably practicable if:

(a) any amount of commission due from the intermediary to the insurer in accordance with an indemnity commission clawback arrangement remains outstanding for four months after the date when the insurer gave notice to the intermediary that the relevant premium had not been paid; or

(b) any amount of commission due from the intermediary to the insurer as a result of either the cancellation of an investment agreement or overpayment of commission remains outstanding for four months after the date on which the insurer gave notice to the intermediary that cancellation or overpayment had occurred.

(2) A notification in (1):

(a) need not be given unless the total amounts outstanding under (1)(a) and (b) in respect of the intermediary exceed £1,000; and

(b) must give the identity of the intermediary and the amount of commission which remains outstanding.

(3) In (1) an "indemnity commission clawback arrangement" is an arrangement under which:

(a) an insurer pays commission to an intermediary before the date on which the premium is due under the relevant investment agreement; and

(b) the insurer requires repayment of the commission, if the investment agreement is terminated by reason of a failure to pay a premium.

21/06/2001

Bureau de Change

SUP 15.8.4

(1) In accordance with article 25of the Money Laundering Regulations, with effect from 1 April 2004, a firm is required to notify the FSA:

(a) before it begins; and

(b) as soon as reasonably practicable after it ceases;

to operate a bureau de change (within (a) of money service business)

(2) The notification referred to in (1) should be made in accordance with the requirements in SUP 15.7 (Form and method of notification)

13/02/2004

SUP 15.8.5

A firm which is already operating a bureau de changeas at 1 April 2004 and intends to continue doing so is required by the Money Laundering Regulations to notify the FSA of that fact and should do so in the manner specified in SUP 15.8.4 G(2).

13/02/2004

Delegation by UCITS management companies

SUP 15.8.6

A UCITS management company must notify the FSA as soon as reasonably practicable if it delegates any of its functions to a third party.

21/06/2001

SUP 15.8.7

A UCITS management company which delegates any of its functions to a third party must, as well as complying with SUP 15.8.4 G, comply with the requirements in COLL 6.6.15 (2) , CIS 7.6.1 R (2) or CIS 7.10.4 R (1) as appropriate.

01/04/2004

CTF providers

SUP 15.8.8

(1) If a firm begins or ceases to hold itself out as acting as a CTF provider, it must notify the FSA as soon as reasonably practicable that it has done so.

(2) A firm that acts as a CTF provider must provide the FSA, as soon as reasonably practicable, with details of:

(a) any third party administrator that it engages;

(b) details of whether it intends to offer Revenue allocated CTFs ; and

01/12/2004

SUP 15 Annex 1

Application of SUP 15 to incoming EEA firms and incoming Treaty firms

01/12/2004

1 .

SUP 15 applies in full to an incoming EEA firm, or incoming Treaty firm , which has a top-up permission.

2 .

SUP 15 does not apply to an incoming EEA firm which has permission for cross border services only and which does not carry on regulated activities in the United Kingdom.

3 .

For any other incoming EEA firm or incoming Treaty firm, SUP 15 applies as set out in the following table.

Applicable sections

Application

SUP 15.1, SUP 15.2

Application, Purpose

Apply in full

SUP 15.3.1 R to SUP 15.3.6 G

Matters having a serious regulatory impact

SUP 15.3.1 R does not apply, otherwise apply in full

SUP 15.3.7 G to SUP 15.3.10 G

Communication with the FSA in accordance with Principle 11

Apply in so far as responsibility for the matter in question is not reserved by a European Community instrument to the firm's Home State regulator

SUP 15.3.1 R to SUP 15.3.14 G

Breaches of rules and other requirements in or under the Act

Apply in full

SUP 15.3.1 R to SUP 15.3.16 G

Civil, criminal or disciplinary proceedings against a firm

Apply in so far as responsibility for the matter in question is not reserved by a European Community instrument to the firm's Home State regulator

SUP 15.3.1 R to SUP 15.3.20 G

Fraud, errors and other irregularities

Apply in so far as responsibility for the matter in question is not reserved by a European Community instrument to the firm's Home State regulator

SUP 15.3.2 G

Insolvency, bankruptcy and winding up

Apply in so far as responsibility for the matter in question is not reserved by a European Community instrument to the firm's Home State regulator

SUP 15

Notified persons

Does not apply

SUP 15.5.1 R to SUP 15.5.3 G

Change in name

Apply in full

SUP 15.5.4 R

Change in address: principal place of business in the UK

Applies in full

SUP 15.5.4 R (2)

Change in address: registered office

Applies to an incoming Treaty firm . Does not apply to an incoming EEA firm, but see SUP 14 (Incoming EEA firms: changing authorisation and cancelling qualification for authorisation).

SUP 15.5.5 R to SUP 15.5.6 G

Change in legal status

Do not apply

SUP 15.5.7 R and SUP 15.5.8 G

Other regulators

Apply in so far as responsibility for the matter in question is not reserved by a European Community instrument to the firm's Home State regulator

SUP 15.6

Inaccurate, false or misleading information

Applies in full

SUP 15.7

Form and method of notification

Applies in full

SUP 15.8

Notifications in respect of particular products and services

Applies in full

01/11/2004

SUP 15 Ann 2

Form F

01/12/2004

This annex consists only of one or more forms. Forms are to be found through the following address:

Supervision forms - SUP 15 Annex 2

01/11/2004

SUP 15 Ann 3

Standing data form

01/12/2004

This annex consists only of one or more forms. Forms are to be found through the following address:

Standing Data - SUP 15 Annex 3

01/11/2004

SUP 15 Ann 4

Notification form

01/12/2004

This annex consists only of one or more forms. Forms are to be found through the following address:

Notifications Form - SUP 15 Annex 4

21/06/2001