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Information Gathering

Application provision

1.1 This Part applies to every firm.

1

Application

1.1

19/06/2014

This Part applies to every firm.

2

Cooperation

2.1

01/01/2016

This Chapter does not apply to a UK Solvency II firm, the Society or managing agents.

2.2

01/01/2016

A firm must take reasonable steps to ensure that its agents, appointed representatives and suppliers under material outsourcing arrangements deal in an open, cooperative and timely way with the PRA in the discharge of its functions under any relevant legislation in relation to the firm.

3

Access to Premises

3.1

01/01/2016

3.3 does not apply to a UK Solvency II firm, the Society or managing agents.

3.2

01/01/2016

A firm must permit any representative or appointee of the PRA to have access, with or without notice, during reasonable business hours to any of its business premises, in relation to the discharge of the PRA’s functions under any relevant legislation.

3.3

01/01/2016

A firm must take reasonable steps to ensure that its agents, appointed representatives and suppliers under material outsourcing arrangements permit any representative or appointee of the PRA to have access, with or without notice, during reasonable business hours to any of its business premises, in relation to the discharge of the PRA’s functions under any relevant legislation in relation to the firm.

4

Access to Documents and Personnel

4.1

19/06/2014

Subject to section 413 of FSMA, a firm must, in relation to the discharge of the PRA’s functions under any relevant legislation:
  1. (1) permit any representative or appointee of the PRA to have access to any document that the PRA reasonably requests;
  2. (2) make itself readily available to meet any representative or appointee of the PRA as the PRA reasonably requests; and
  3. (3) answer truthfully, fully and promptly all questions reasonably put to it by any representative or appointee of the PRA.

4.2

19/06/2014

Subject to section 413 of FSMA, a firm must, in relation to the discharge of the PRA’s functions under any relevant legislation, take reasonable steps to ensure that the following persons act in the manner set out in 4.1 in relation to the firm:
  1. (1) its employees, agents and appointed representatives; and
  2. (2) any other members of its group, and their employees and agents.

5

Information Requested on Behalf of Other Regulators

5.1

19/06/2014

Subject to section 413 of FSMA, a firm must cooperate with the PRA in providing information at the request of another regulator to enable that regulator to discharge its functions properly.