FSA UNRESTRICTED 2010

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1 LIST OF NON-LEGAL CORRECTIONS AND CLARIFICATIONS IN THE HANDBOOK This document lists the minor corrections and clarifications that we have recently made to the Handbook, other than those made by Handbook Administration instrument. These changes are regarded as having no legal effect. None of these changes represents a change in policy. In this list, underlining indicates new text and striking through indicates deleted text. Handbook reference GENPRU G Text of change made The resilience capital requirement is an FSA minimum requirement for long-term insurance business for regulatory basis only life firms that is additional to the EU EU minimum requirement for long-term insurance business. Reason for change To point to the correct definition. Published date of change BIPRU R... if relevant, BIPRU 4.10 BIPRU 4.10 The reference should be hyperlinked to the rule The FSA has produced a leaflet entitled "Becoming an appointed representative" which provides a comprehensive summary of some of the main features of the appointed representative regime. You may download a copy of this leaflet from our website at The link was incorrect Page 1 of 8

2 COLL TP 1 16 COLL 4.5 and COLL 8.3.5R to COLL 8.3.5ER R In relation to the preparation of any report pursuant to COLL 4.5 or COLL 8.3.5R to COLL 8.3.5ER for the last annual accounting period or half-yearly accounting period ending before 6 March 2010, the authorised fund manager, depositary and auditor auditor From 6 March 2010 to 5 July Marc h 2010 Removal of defined term link COND 1.2.3G(2) If, when exercising its own-initiative power under section 45(1) of the Act, the FSA varies a firm s firm s permission, or Typographical 16 Annex 25G FSA041 Typographical For the auditor(s) you use to audit your funds pleas please provide the following: Name(s) of auditing firm(s) that signed the most recent audit opinion. The need to ensure that this Editor s Note appears in the Hbk Online Ann 1R Part 2 - in Table, under A.1, insert at end of Note [Editor s Note: On 1 January 2010, the Bank of England will be removing entries relating to the Modified Eligible Liabilities formulae from Form BT and inserting these on a new Form ELS. The formulae as they appear on Form ELS will provide the source for calculating Modified Eligible Liabilities for banks and building societies from the 2011/2012 financial year onwards. For further information, please refer to the Fees page of the FSA website at To help firms understand the changes being made by Fees Provisions (Amendment No 2) Instrument 2010 (FSA 2010/10) Page 2 of 8

3 16 Annex 25G FSA 041 Data Element 7A Name(s) of prime broker(s) 7A A list of the most frequently occurring prime broker firms will be provided in dropdown list format. There is also the option to add, in free text, other prime brokers not included in the list provided. To make this instruction clearer to the reader Please provide the name(s) of the auditing firm(s) prime broker(s) in the blank box provided. 16 Annex 25G FSA 041 Data Element 11A Name(s) of the third party administrator(s) 11A A list of the most frequently occurring third party administrator firms will be provided in dropdown list format There is also the option to add, in free text, other third party administrators not included in the list provided. To make this instruction clearer to the reader Please provide the name(s) of the auditing firm(s) third party administrator(s) in the blank box provided. Page 3 of 8

4 3.1.2R (7A) Investment management firm (other than an exempt CAD firm), personal investment firm (other than a small personal investment firm or exempt CAD firm), or securities and futures firm (other than an exempt CAD firm or an exempt BIPRU commodities firm) not within (7) to which the custody chapter or client money chapter applies To add a missing word FEES 4.2.1R A person as adjusted by any relevant provision in this chapter: To insert a missing colon EG Update the link to Crown Prosecutors: Page 4 of 8

5 EMPS G Applicability of parts of Handbook to energy market participants This table belongs to EMPS 1.2.1G To add necessary supplejentary text High Level Standards Part of Handbook The Fit and Proper test for Approved Persons (FIT) Applicability to energy market participants This applies. The Financial Stability and Market Confidence sourcebook (FINMAR) This is unlikely to be of relevance to the business of an energy market participant. Page 5 of 8

6 OMPS G Parts of the Handbook applicable oil market participants This table belongs to OMPS 1.2.1G High Level Standards Part of Handbook The Fit and Proper test for Approved Persons (FIT) Applicability to oil market participants This applies. The Financial Stability and Market Confidence sourcebook (FINMAR) This is unlikely to be of relevance to the business of an oil market participant. SERV G Parts of the Handbook applicable to service companies This table belongs to SERV 1.2.1G High Level Standards Part of Handbook The Fit and Proper test for Approved Persons (FIT) Applicability to service participants This applies. The Financial Stability and Market Confidence sourcebook (FINMAR) This applies. Page 6 of 8

7 BIPRU (2) In case of a currency mismatch, the current surrender value must be reduced according to BIPRU R and BIPRU R BIPRU R, the value of the credit protection being the current surrender value of the life insurance policy. To correc the crossreference LR R (2) (b) (b) C.2.21; and COBS 6.1D.12G LR (2) (a) To comply with COBS 6.1AD.11R, a firm s disclosure should be in cash terms (or convert non-cash terms into illustrative cash equivalents) and should: (1).. Principle D.1 (including Code Provisions D.1.1 to D.1.65); and IPRU(INV ) 5.1.1(1)(b )R COMP Intro FEES 4 Annex 1 At present, beneath the text of IPRU(INV) 5.1.1(1)(a)R there appears (b) R [deleted], but this should be moved so that it appears beneath rather than above the Table, please. The Act requires the FSA The compensation rules, although of interest to consumers and authorised firms, do not apply to either are of interest to consumers. The rules only apply to the FSCS and to authorised firms. [Editor's Note: On 1 January 2010, the Bank of England will be removing entries relating to the Modified Eligible Liabilities formulae from Form BT and inserting these on a new Form ELS. The formulae as they appear on Form ELS will provide the source for calculating Modified Eligible Liabilities for banks and building societies from the 2011/2012 financial year onwards. For further information, please refer to the Fees page of the FSA website at A word added Clarification ` COMP Intro The Act requires the FSA The rules only apply to the FSCS. Page 7 of 8

8 COBS R SYSC 19A.1.2G( 1)(a) SYSC 19A.2.2G( 1) A (1) A firm of those designated investments investments or that client money applies in relation to regulated activities, activities that constitute dealing in investments as principal If a firm s remuneration policy policy The effect of R is that a person who is approved for the chairman function, the senior independent director function, the chairman of the risk committee function, the chairman of the audit committee function and the the chairman of the remuneration committee function (5 7) the customer function. TP1.2 8L (d) AR and AR and an authorised professional firm but this exclusion only applies with respect to its nonmainstream professional activities non-mainstream regulated activities; or List last updated: January 2011 If you have any comments on this list please nick.walker@fsa.gov.uk (with a copy to roslyn.anderson@fsa.gov.uk). Page 8 of 8

Energy Market Participants

Energy Market Participants EMPS Contents Energy Market Participants EMPS 1 Special guide for 1.1 Application and purpose 1.2 Parts of the Handbook applicable to EMPS 2 Waiver 2.1 These provisions have