• Compliance arrangements

    • GEN 5.2.11

      In assessing whether an applicant has adequate compliance arrangements, the Regulator will consider whether it has:

      (a) clear and comprehensive policies and procedures relating to compliance with all applicable legal requirements including the Rules; and
      (b) adequate means to implement those policies and procedures and monitor that they are operating effectively and as intended.

    • GEN 5.2.12

      In assessing an application for a Financial Services Permission, the Regulator may:

      (a) make any enquiries which it considers appropriate, including enquiries independent of the applicant;
      (b) require the applicant to provide additional information;
      (c) require the applicant to have information on how it intends to ensure compliance with a particular Rule;
      (d) require any information provided by the applicant to be verified in any way that the Regulator specifies; and
      (e) take into account any information which it considers relevant in determining whether the applicant will ensure compliance with requirements imposed by the Regulator in the exercise of its functions.

    • GEN 5.2.13

      (1) In assessing an application for a Financial Services Permission the Regulator may, by means of written notice, indicate the legal form that the applicant may adopt to enable authorisation to be granted.
      (2) Where the Regulator thinks it appropriate it may treat an application made by one legal form or Person as having been made by the new legal form or Person.

    • GEN 5.2.14

      In assessing an application for a Financial Services Permission authorising the applicant to Operate a Multilateral Trading Facility or an Organised Trading Facility, the Regulator will have regard to, but is not limited to, considering the following matters:

      (a) whether the establishment of a Multilateral Trading Facility or Organised Trading Facility is, or is likely to be, in the interests of the Financial Services and Markets industry;
      (b) whether the Multilateral Trading Facility or Organised Trading Facility will or is likely to lead to more efficient price discovery of, or deepen liquidity in, an Investment; and
      (c) whether there is any risk of market fragmentation, loss of liquidity or inefficiency in price discovery as a result of the proposed Multilateral Trading Facility or Organised Trading Facility operation.