Transitional Provisions and Schedules

Part

SUP Supervision manual

Chapter

Transitional Provisions and Schedules

Printed on: 06/11/2024

Rulebook at: 03/08/2015

Transitional Provisions and Schedules

SUP TP 1

Transitional provisions

SUP TP 1.1

Transitional provisions applying to the Supervision manual only

Definitions for these transitional provisions, additional to those in the Glossary, are provided at paragraph 16 of the table.

SUP TP 1.2

(1)

(2) Material to which the transitional provision applies

(3)

(4) Transitional provision

(5) Transitional provision: dates in force

(6) Handbook provision: coming into force

SUP 3.3.2 R (1)

Auditors
A firm will not contravene SUP 3.3.2 R (1), if the office of auditor is filled at commencement. The auditor filling the office at that time will be deemed to be appointed under SUP 3.3.2 R.

From commencement

Commencement

SUP 3.9 and SUP 3.10

Expired

SUP 3.9.4 R

Expired

SUP 3.10

Expired

SUP 3.10.6 R, SUP 3.10.7 R

Expired

SUP 3.10

Expired

SUP 4.3.1 R (1) and SUP 4.4.1 R (1)

Actuaries
A firm will not contravene SUP 4.3.1 R (1) or SUP 4.4.1 R (1) to the extent that the office of actuarial function holder, with-profits actuary or appropriate actuary is filled by an actuary appointed on or before 31 December 2004, provided that that actuary was appointed in accordance with the statutory requirements, or the requirements of the regulatory system, in force at that time.

From commencement

Commencement

SUP 4

Anything done before 31 December 2004 for the purposes of an amended provision in SUP 4 has effect as if done under that provision.

From 31 December 2004

31 December 2004

[deleted]

4BA

SUP 4.3.16AR (3) and SUP 4.3.16AR (4)

The rules apply in respect of each financial year commencing on or after 1 January 2005.

From 31 December 2004

31 December 2004

[deleted]

SUP 4.3.3 R

If a firm's actuary has been appointed by a previous regulator under statutory or contractual powers and remains in office immediately before commencement, that appointment will be deemed to have been made under SUP 4.3.3 R, but on the terms of the actual appointment.

From commencement

Expired

Expired

Deleted

SUP 10.13.6 R (Ceasing to perform a controlled function) and SUP 10.13.3 D (Moving within a firm)

Deleted

Expired

Expired

Expired

Expired

Expired

Expired

SUP 10.1.13 R to SUP 10.1.14 R

Expired

SUP 12.5.5 R
SUP 12.5.7 R

Expired

SUP 15.8.4 G

Expired

SUP 12.5

Expired

SUP 16.4.5 R
SUP 16.5.5 G

Expired

SUP 16.6
SUP 16.7
SUP 16.8

Expired

SUP 16.7.7 R;
SUP 16.7.9 R,
SUP 16.7.11 R,
SUP 16.7.16 R,
SUP 16.7.24 R,
SUP 16.7.26 R,
SUP 16.7.35 R,
SUP 16.7.44 R,
SUP 16.7.46 R,
SUP 16.7.48 R,
SUP 16.7.57 R

Expired

12A

[deleted]

12B

SUP 16.7.54 R;
SUP 16.7.76 R
SUP 16.7.79 R
SUP 16.7.80 R

Deleted

12C

Deleted

12D

Deleted

12E

Deleted

12F

SUP 16.7.77 R

Expired

12G

SUP 16.7.7 R; SUP 16.7.9 R; SUP 16.7.11 R; SUP 16.7.16 R; SUP 16.7.20 R; SUP 16.7.24 R; SUP 16.7.26 R; SUP 16.7.28 R; SUP 16.7.35 R; SUP 16.7.57 R; SUP 16.7.62 R; SUP 16.7.65 R; SUP 16.7.73 R;

Expired

12H

Expired

12I

SUP 16.7.54 R

Expired

12J

(1)
SUP 16.7.24 R, SUP 16.7.25 R and 16.7.25A R, SUP 16.7.27 R and 16.7.27A R

Expired

(2)
SUP 16.7.35 R, SUP 16.7.36 R and SUP 16.7.36A R

Expired

(3)
SUP 16.7.67 R, SUP 16.7.68 R and SUP 16.7.68A R

Expired

(4)
SUP 16.7.76 R, SUP 16.7.77 R and SUP 16.7.77A R

Expired

(5)
SUP 16.7.16 R and SUP 16.7.17 R

Deleted

12K

SUP 16.7.7 R, SUP 16.7.8 R, SUP 16.7.9 R, SUP 16.7.10 R, SUP 16.7.11 R, SUP 16.7.12 R, SUP 16.7.16 R, SUP 16.7.17 R, SUP 16.7.24 R, SUP 16.7.25 R, SUP 16.7.26 R, SUP 16.7.27 R, SUP 16.7.28 R, SUP 16.7.29 R, SUP 16.7.35 R, SUP 16.7.36 R, SUP 16.7.54 R, SUP 16.7.54A R, SUP 16.7.57 R, SUP 16.7.58 R, SUP 16.7.62 R, SUP 16.7.63 R, SUP 16.7.65 R, SUP 16.7.66 R. SUP 16.7.73 R, SUP 16.7.74 R, SUP 16.7.75 R, SUP 16.7.76 R and SUP 16.7.77 R,

Expired

12L

(1)
SUP 16.7.7 R, SUP 16.7.8 R, SUP 16.7.8A R , SUP 16.7.16 R, SUP 16.7.17 R, SUP 16.7.17A R , SUP 16.7.24 R, SUP 16.7.25 R, SUP 16.7.25A R, SUP 16.7.26 R, SUP 16.7.27 R, SUP 16.7.27A R, SUP 16.7.30 R, SUP 16.7.35 R, SUP 16.7.36 R, SUP 16.7.36AR, SUP 16.7.67R, SUP 16.7.68R, SUP 16.7.68AR, SUP 16.7.76R, SUP 16.7.77R, SUP 16.7.77AR

Expired

(2)
SUP 16.7.9 R , SUP 16.7.10 R

Expired

(3)
SUP 16.12.11 R , SUP 16.7.12 R

Expired

(4)
SUP 16.7.62RSUP 16.12.5 R, SUP 16.7.63R

Expired

(5) [deleted]

(6)
SUP 16.7.82R, SUP 16.7.83R

Expired

(7)[deleted]

12M

(1)[deleted]

(2)[deleted]

(3)[deleted]

(4)[deleted]

(5)[deleted]

(6)[deleted]

(7)[deleted]

(8)[deleted]

(9)[deleted]

(10)[deleted]

(11)[deleted]

(12)[deleted]

(13)[deleted]

(14)[deleted]

(15)[deleted]

(16)[deleted]

(17)[deleted]

(18)[deleted][deleted]

(19)

(20)[deleted]

(20A) SUP 16.12.22A R

Expired

(21)[deleted]

12N

(1)
SUP 16.7.36 R

Expired

12O

(1)

[deleted]

(2)
SUP 16.7.24 R, SUP 16.7.25 R, SUP 16.7.27 R

Expired

(3)
SUP 16.7.35 R, SUP 16.7.36 R

Expired

(4)
SUP 16.7.67 R, SUP 16.7.68 R

Expired

(5)
SUP 16.12.11R, SUP 16.12.12R

Expired

12P

(1)
SUP 16.7.20R, SUP 16.7.21R, SUP 16.7.21AR, SUP 16.7.21BR, SUP 16.7.26R, SUP 16.7.27R, SUP 16.7.28R, SUP 16.7.29R, SUP 16.7.30R, SUP 16.7.35R, SUP 16.7.36R, SUP 16.7.54R, SUP 16.7.54AR, SUP 16.7.55R, SUP 16.7.56R, SUP 16.7.57R, SUP 16.7.58R, SUP 16.7.67R, SUP 16.7.68R, SUP 16.7.76R, SUP 16.7.77R

Expired

12Q

(1)
SUP 16.12.11R

Expired

(2)
SUP 16.12.14R

Expired

(3)
SUP 16.12.19R

Expired

(4)
SUP 16.12.25R

Expired

(5)
SUP 16.12.11R, SUP 16.12.14R, SUP 16.12.19R, SUP 16.12.25R

Expired

12R

(1)

[deleted]

(2)
SUP 16.12.11R

Expired

12S

(1)
SUP 16.12.15, SUP 16.12.16, SUP 16.12.17

Expired

12T

SUP 16.12.5 R to SUP 16.12.7 R;

SUP 16.12.10 R to SUP 16.12.17 R;

SUP 16.12.22 R to SUP 16.12.27 R

Deleted

12U

SUP 16.12.5 R to SUP 16.12.7 R; SUP 16.12.10 R to SUP 16.12.17 R; SUP 16.12.22 R to SUP 16.12.27 R

Deleted

12V

SUP 16.12.5 R to SUP 16.12.7 R; SUP 16.12.10 R to SUP 16.12.17 R; SUP 16.12.22 R to SUP 16.12.27 R

Deleted

12W

SUP 16.12.5 R to SUP 16.12.7 R

If BIPRU TP 30.4 R (Liquidity floor for certain banks) applies to a firm the regulatory intervention point mentioned in that rule is added to the list in paragraph (a) of the definition of firm-specific liquidity stress in the case of that firm for as long as BIPRU TP 30.4 R applies to it.

For as long as BIPRU TP 30.4 R applies to the firm

At the end of period set out in column (5)

12X

SUP 16.12.5 R to SUP 16.12.7 R

(1)

This rule deals with the effect of the abolition of data item FSA044 by the Liquidity Standards (Miscellaneous Amendments) Instrument 2010 and of changes to the definition of DLG by default made by that instrument.

See column 4

(2)

The abolition of that data item does not have effect in relation to a firm's reporting period for that data item that has begun but not ended as at 1 January 2011.

(3)

The changes to the definition of DLG by default do not have effect in relation to the reporting period of a firm that has begun but not ended as at 1 November 2010.

SUP 16.8

Expired

13A

(1)
SUP 3.1.2 R

Expired

13B

[deleted]

SUP 16.8

Expired

14A

SUP 16.11.7 R

Expired

14B

Deleted

14D

16.11.3

Expired

[deleted]

15A

Rules in SUP 20

Expired

15B

Transitional ruleSUP 15A

Expired

15C

The Supervision manual (SUP)

Expired

15D

SUP 16

Expired

Paragraphs 1 to 15

Definitions

From commencement

Commencement

In these transitional provisions:

(1)

"pre-commencement provision" means a provision repealed or revoked by or under the Act or a rule or guidance of the firm's previous regulator, including (where the context permits) any relevant provision which it replaced before commencement; and

(2)

"substantially similar" means substantially similar in purpose and effect.

SUP 20.4.4 R (4)

Expired

SUP

GEN contains some technical transitional provisions that apply throughout the Handbook and which are designed to ensure a smooth transition at commencement . These include transitional provisions relevant to record keeping and notification rules.

From commencement of the relevant provision in SUP

Various dates

Note 1 Deleted

Note 2 Deleted

Note 3 Deleted

SUP TP 1.3

[deleted]

SUP TP 1.4

[deleted]

SUP TP 1.5

[expired]

SUP TP 1.6

[deleted]

03/08/2015

SUP TP 3

Transitional provisions relating to SUP 10A and SUP 10B: Transition from the FSA to the FCA and PRA

TP 3

Transitional provisions relating to SUP 10A and SUP 10B: Transition from the FSA to the FCA and PRA

FSA controlled function

FCA controlled function into which approved person transitioned

Firms to which transitional relates

Director function (CF1)

FCA-authorised persons only

Non-executive director function (CF2)

FCA-authorised persons only

Chief executive function (CF3)

FCA-authorised persons only

Partner function (CF4)

FCA-authorised persons only

Director of unincorporated association function (CF5)

FCA-authorised persons only

Small friendly society function (CF6)

FCA-authorised persons only

Apportionment and oversight function (CF8)

All firms

Compliance oversight function (CF10)

All firms

CASS operational oversight function (CF10A)

All firms

Money laundering reporting function (CF11)

All firms

Systems and controls function (CF28)

FCA-authorised persons only

Significant management function (CF29)

All firms

Customer function (CF30)

All firms

TP 3.2

Transition to the PRA

3.2.1

An approved person who was, as at cutover, approved by the FSA to perform, in relation to a PRA-authorised person, a controlled function specified by the FSA set out in column 1 of the table in SUP TP 3.2.2R is deemed to be approved by the PRA to perform the PRA-controlled function in the same row of column 2 in that table in relation to that firm.

3.2.2

Table: FSA controlled functions transitioned to the PRA

FSA controlled function

PRA controlled function

Director function (CF1)

Non-executive director function (CF2)

Chief executive function (CF3)

Partner function (CF4)

Director of unincorporated association function (CF5)

Small friendly society function (CF6)

Actuarial function (CF12)

With-profits actuary function (CF12A)

Lloyd's actuary function (CF12B)

Systems and controls function (CF28)

TP 3.3

Amalgamation of functions

3.3.2

In the case of a PRA-authorised person, if SUP 10.6.2 R (each of the FSA's governing functions includes the FSA's systems and controls function and significant management function) applied immediately before cutover, SUP 10B.7.1R (the equivalent PRA rule) applies following cutover in relation to the systems and controls function.

3.3.3

In the case of a PRA-authorised person, if a person was approved by the FSA to perform one of the FSA's governing functions and the FSA's apportionment and oversight function in relation to a firm, the effect of SUP TP 3 is that he will deemed to be approved by the FCA for the apportionment and oversight function and by the PRA for the appropriate governing function in relation to that firm. SUP 10A.11.11 R (disapplication of the apportionment and oversight function if approved for a PRA governing function) and SUP 10B.7.3 R (functions making up the apportionment and oversight function if approved for a PRA governing function) do not apply.

TP 3.4

Changes to approved persons details

3.4.2

Firms are reminded that an effect of the transitional provisions in SUP TP 2.2 is that SUP 10B.14.16R to SUP 10B.14.22R (notifications relating to changes to the details relating to approved persons and candidates and new information relating to them) apply to changes and new information as compared to the position before cutover.

TP 3.6

General

3.6.1

References in SUP TP 3 to a person being approved for the purposes of section 59 of the Act (approval for particular arrangements) or being an approved person includes someone being taken to be approved for the purposes of that section by virtue of an order made under the Act relating to transitional matters, such as one relating to the bringing into force of the Act.

01/04/2013

SUP Sch 1

Record keeping requirements

31/12/2004

SUP Sch 1.1

The aim of the guidance in the following table is to give the reader a quick overall view of the relevant record keeping requirements.

It is not a complete statement of those requirements and should not be relied on as if it were.

01/04/2013

SUP Sch 1.2

Handbook reference

Subject of record

Contents of record

When record must be made

Retention period

SUP 4.3.17 R (3)

Data for actuary (or actuaries appointed under SUP 4 (Actuaries)

Such data as the actuary (or actuaries) appointed under SUP 4 (Actuaries) reasonably require

Not specified

SUP 12.9.1 R, SUP 12.9.2 R,

Appointed representatives

(1) Appointed representative's name

On appointment, amendment of contract or termination of contract

3 years from termination or amendment of the contract, other than in respect of tied agents when period is five years.

SUP 12.9.5 R

EEA tied agents

If a UK MiFID investment firm appoints an EEA tied agent the record keeping requirements in SUP 12.9 applies to that firm as though the EEA tied agent were an appointed representative.

(2) Copy of the original contract with the appointed representative and any subsequent amendments to it (including details of any restrictions placed on the activities which the appointed representative may carry on)

(3) Date and reason for terminating or amending the contract

(4) arrangements agreed with other principals under SUP 12.4.5B R

SUP 16.8.23 R

Persistency reports and data reports

Records to enable the firm to monitor regularly the persistency of life policies and stakeholder pensions effected through each of its representatives and make the required reports to the FCA .

Not specified

03/08/2015

SUP Sch 5A

Rights of actions for damages

01/04/2013

SUP Sch 5A.1

The table below sets out the rules in SUP contravention of which by an authorised person may be actionable under section 138D of the Act (Actions for damages) by a person who suffers loss as a result of the contravention.

01/04/2013

SUP Sch 5A.2

Chapter/Appendix

Section/Annex

Paragraph

10B

All rules other than those in sections SUP 10B.1 to SUP 10B.9

01/04/2013

SUP Sch 6

Rules that can be waived

01/12/2004

SUP Sch 6.1B

As a result of section 138A of the Act (Modification or waiver of rules) the PRA has power to waive all its rules, other than rules made under section 137O (Threshold condition code). However, if the rules incorporate requirements laid down in European directives, it will not be possible for the PRA to grant a waiver that would be incompatible with the United Kingdom's responsibilities under those directives.

01/04/2013