SUP 13A

Qualifying for authorisation under the Act

SUP 13A.1

Application and purpose

Application

SUP 13A.1.1

See Notes

handbook-guidance
(1) This chapter applies to an EEA firm that wishes to exercise an entitlement to establish a branch in, or provide cross border services into, the United Kingdom under a Single Market Directive. (The Act refers to such an entitlement as an EEA right and its exercise is referred to in the Handbook as "passporting".) (See SUP App 3 (Guidance on passporting issues) for further guidance on passporting.)
(2) This chapter also applies to:
(a) a Treaty firm that wishes to exercise rights under the Treaty in respect of regulated activities not covered by the Single Market Directives and qualify for authorisation under Schedule 4 to the Act (Treaty Rights); and
(b) a UCITS qualifier, that is, an operator, trustee or depositary of a recognised collective investment scheme, constituted in another EEA State, and which qualifies for authorisation under Schedule 5 to the Act (Persons concerned in collective investment schemes).
(3) The provisions implementing the Single Market Directives are within the coordinated field (see PERG 2.9.18G (1)). So, where an incoming ECA provider intends to provide electronic commerce activity that consists of activities that fall within one of the Single Market Directives, the passporting requirements on exercising an EEA right in this chapter will apply.

SUP 13A.1.2

See Notes

handbook-guidance

This chapter does not apply to:

  1. (1) an EEA firm that wishes to carry on in the United Kingdom activities which are outside the scope of its EEA right and the scope of a permission granted under Schedule 4 to the Act; in this case the EEA firm requires a "top-up permission" under Part IV of the Act (see the FSA website "How do I get authorised": http://www.fsa.gov.uk/Pages/Doing/how/index.shtml); or
  2. (2) an EEA firm that carries on any insurance activity:
    1. (a) by the provision of services; and
    2. (b) pursuant to a community co-insurance operation in which the firm is participating otherwise than as leading insurer (see Article 11 of the Regulated Activities Order); or
  3. (3) a Treaty firm that wishes to provide electronic commerce activities into the United Kingdom; or
  4. (4) a market operator that operates a regulated market or an MTF in an EEA State other than the UK and wishes to make appropriate arrangements so as to facilitate access to and use of its system by remote users or participants in the UK. See SUP App 3.6.25 G for guidance.

SUP 13A.1.3

See Notes

handbook-guidance
  1. (1) Under the Gibraltar Order made under section 409 of the Act, a Gibraltar firm is treated as an EEA firm under Schedule 3 to the Act if it is:
    1. (a) authorised in Gibraltar under the Insurance Directives; or
    2. (b) authorised in Gibraltar under the Banking Consolidation Directive; or
    3. (c) authorised in Gibraltar under the Insurance Mediation Directive; or
    4. (d) authorised in Gibraltar under the MiFID.
  2. (1A) Similarly, an EEA firm which:
    1. (a) has satisfied the Gibraltar establishment conditions and has established a branch in the UK; or
    2. (b) has satisfied the Gibraltar service conditions and is providing cross border services into the UK;
  3. is treated as having satisfied the establishment conditions or service conditions (as appropriate) under Schedule 3 to the Act. Regulations 4 to 7 of the EEA Passport Rights Regulations will apply to the establishment of the branch or the provision of cross border services.
  4. (2) Gibraltar insurance companies, credit institutions, insurance intermediaries and investment firms are allowed to passport their services into the United Kingdom if they comply with the relevant notification procedures. So, any references in this chapter to EEA State or EEA right include references to Gibraltar and the entitlement under the Gibraltar Order where appropriate.
  5. (3) [deleted]

Purpose

SUP 13A.1.4

See Notes

handbook-guidance
(1) This chapter explains how an EEA firm and a Treaty firm can qualify for authorisation under Schedules 3 and 4 to the Act and how a UCITS qualifier is authorised under Schedule 5 to the Act.
(2) This chapter also provides guidance on Schedule 3 to the Act for an incoming EEA firm that wishes to establish a branch in the United Kingdom instead of, or in addition to, providing cross border services into the United Kingdom or vice versa.

SUP 13A.1.5

See Notes

handbook-guidance
(1) EEA firms should note that this chapter only addresses the procedures which the FSA will follow under the Act after it has received a consent notice or been notified of an EEA firm's intentions by its Home State regulator. So, an EEA firm should consider this guidance in conjunction with the requirements with which it will have to comply in its Home State.
(2) The guidance in this chapter represents the FSA's interpretation of the Single Market Directives, the Act and the secondary legislation made under the Act. The guidance is not exhaustive and should not be seen as a substitute for a person consulting the legislation or taking legal advice.

SUP 13A.2

EEA firms and Treaty firms

SUP 13A.2.1

See Notes

handbook-guidance
A person will only be an EEA firm or a Treaty firm if it has its head office in an EEA State other than the United Kingdom. EEA firms and Treaty firms are entitled to exercise both the right of establishment and the freedom to provide services under the Treaty. The difference, however, is that an EEA firm has a right to passport under a Single Market Directive, whereas a Treaty firm carries on activities which do not fall within the scope of a Single Market Directive. An EEA firm may also be a Treaty firm if it carries on such activities. A person may be a Treaty firm, where, for example, it carries on business that:
(1) comprises regulated activities, such as reinsurance, which are not covered by any Single Market Directive; or
(2) includes regulated activities which do not fall within the scope of the Single Market Directive under which it is entitled to exercise an EEA right.

SUP 13A.2.2

See Notes

handbook-guidance
An EEA firm may passport those activities which fall within the scope of the relevant Single Market Directiveas long as they are included in its Home State authorisation.

SUP 13A.3

Qualifications for authorisation under the Act

EEA firms

SUP 13A.3.1

See Notes

handbook-guidance
Section 31 of the Act (Authorised persons) states that an EEA firm is authorised for the purposes of the Act if it qualifies for authorisation under Schedule 3 to the Act (EEA Passport Rights). Under paragraph 12 of Part II of that Schedule, an EEA firmqualifies for authorisation if:
(1) it is seeking to establish a branch in the United Kingdom in exercise of an EEA right and satisfies the establishment conditions (see SUP 13A.4.1 G and SUP 13A.4.2 G); or
(2) it is seeking to provide cross border services into the United Kingdom in exercise of an EEA right and satisfies the service conditions (see SUP 13A.5.3 G).

SUP 13A.3.1A

See Notes

handbook-guidance
If an EEA MiFID investment firm seeks to use a tied agent established in the UK, the EEA MiFID investment firm will be treated as if it were seeking to establish a branch and must satisfy the establishment conditions (see SUP 13A.4.1 G).

SUP 13A.3.2

See Notes

handbook-guidance
(1) On qualifying for authorisation, subject to SUP 13A.3.2G (2), an EEA firmwill have permission to carry on each permitted activity (see (3) below) which is a regulated activity.
(2)
(a) Paragraph (1) does not apply to the activity of dealing in units in a collective investment scheme in the United Kingdom where:
(ii) the firm satisfies the establishment conditions in SUP 13A.4.1 G; and
(iii) the FSA notifies the EEA firm and the EEA firm'sHome State regulator that the way in which it intends to market a relevant scheme in the United Kingdom does not comply with the law in force in the United Kingdom.
(b) The FSA's notice under (2)(a)(iii) has to be given to the EEA firm within two months of receiving the consent notice (see paragraph 13(1) of Part II of Schedule 3 to the Act) and will be similar to a warning notice.
(c) For details of the FSA's procedures for the giving of warning noticessee DEPP 2 (Statutory notices and allocation of decision making).
(3) The permitted activities of an EEA firmare those activities identified in the consent notice, regulator's notice or notice of intention. Permitted activities may include activities that are within the scope of a Single Market Directive but which are unregulated activities in the United Kingdom.
(4) The permission will be treated as being on terms equivalent to those appearing in the consent notice, regulator's notice or notice of intention. For example, it will reflect any limitations or requirements which are included in the firm'sHome State authorisation.

SUP 13A.3.3

See Notes

handbook-guidance
An EEA firm which has qualified for authorisation is referred to in the Handbook as an incoming EEA firm.

Treaty firms

SUP 13A.3.4

See Notes

handbook-guidance
Under section 31 of the Act, a Treaty firm is authorised for the purposes of the Act if it qualifies for authorisation under Schedule 4 (Treaty Rights), that is:
(1) the Treaty firm is seeking to carry on a regulated activity; and
(2) the conditions set out in paragraph 3(1) of Schedule 4 to the Act are satisfied.

SUP 13A.3.5

See Notes

handbook-guidance
On qualifying for authorisation a Treaty firm will have permission to carry on each permitted activity which is a regulated activity. This permission will be treated on the same terms as those which apply to the Treaty firm'sHome State authorisation. For example, it will reflect any limitations or requirements which are included in the firm'sHome State authorisation.

SUP 13A.3.6

See Notes

handbook-guidance
The effect of paragraph 5(1) and 5(2) of Schedule 4 to the Act is that a Treaty firm which qualifies for authorisation under that Schedule must, at least seven days before it carries on any of the regulated activities covered by its permission, give the FSA written notice of its intention to do so. Failure to do so is a criminal offence under paragraph 6(1) of that Schedule.

SUP 13A.3.7

See Notes

handbook-directions
(1) A written notice from a Treaty firm under paragraph 5(2) of Schedule 4 to the Act must be:
(a) given to a member of, or addressed for the attention of, the Authorisation Department; and
(b) delivered to the FSA by one of the methods in (2).
(2) The written notice may be delivered by:
(a) post to the address in SUP 13A.3.9 G below; or
(b) leaving the application at the address in SUP 13A.3.9 G below and obtaining a time-stamped receipt; or
(c) hand delivery to a member of the Authorisation Department.

SUP 13A.3.8

See Notes

handbook-guidance
The written notice required by paragraph 5(2) of Schedule 4 to the Act should be accompanied by confirmation of the Treaty firm's authorisation from the Home State regulator, as referred to in paragraph 3(2) of Schedule 4 to the Act.

SUP 13A.3.9

See Notes

handbook-guidance
(1) For further information, a Treaty firm may contact the Authorisation Department:
(a) telephone on +4420 7066 3954; or
(b) write to: Authorisation Department, The Financial Services Authority, 25 The North Colonnade, Canary Wharf, London, E14 5HS; or
(c) email corporate.authorisation@fsa.gov.uk.

SUP 13A.3.10

See Notes

handbook-guidance
(1) The guidance in PERG 2 is relevant to Treaty firms to help them determine if they require authorisation under the Act.
(2) A Treaty firm which qualifies for authorisation is referred to in the Handbook as an incoming Treaty firm.

SUP 13A.3.11

See Notes

handbook-guidance
(1) An EEA firm that is carrying on both direct insurance and reinsurance business will be entitled to passport under Schedule 3 to the Act in relation to the direct insurance business. It will also have a Treaty right under Schedule 4 to the Act. Such EEA firms are advised to discuss their particular circumstances with the Authorisation Department before sending in their notification under paragraph 5(2) of Schedule 4 to the Act (see SUP 13A.3.6 G).
(2) An insurance company with its head office in an EEA State other than the United Kingdom that is carrying on pure reinsurancebusiness in that State, and which wishes to carry on such business in the United Kingdom, is advised to discuss its particular requirements with the Authorisation Department. It may be entitled to exercise a Treaty right provided it satisfies the conditions in paragraph 3(1) of Schedule 4 to the Act (see SUP 13A.3.4 G). Otherwise, it will have to seek a Part IV permission (see the FSA website "How do I get authorised": http://www.fsa.gov.uk/Pages/Doing/how/index.shtml).

UCITS qualifiers

SUP 13A.3.12

See Notes

handbook-guidance
Under Schedule 5 to the Act (Persons concerned in collective investment schemes), a person who for the time being is an operator, trustee or depositary of a scheme which is a recognised scheme under section 264 of the Act is an authorised person. Such a person is referred to in the Handbook as a UCITS qualifier.

SUP 13A.3.13

See Notes

handbook-guidance
A UCITS qualifier has permission under paragraph 2 of Schedule 5 to the Act, to carry on, as far as is appropriate to the capacity in which it acts in relation to the scheme:
(2) any activity in connection with, or for the purposes of, the scheme.

SUP 13A.3.14

See Notes

handbook-guidance
A UCITS qualifier should refer to COLLG or to the following sections of COLLand CISfor requirements for recognised schemes:
(1) COLL 9.2.1 G and CIS 16.1.8 G for guidance on notifications;
(2) COLL 9.2.1 G and CIS 17.2 for guidance on information and documentation requirements; and
(3) COLL 9.4 and CIS 17.4 which includes guidance on what facilities need to be maintained.

SUP 13A.4

EEA firms establishing a branch in the United Kingdom

The conditions for establishing a branch

SUP 13A.4.1

See Notes

handbook-guidance
(1) Before an EEA firmexercises an EEA right to establish a branch in the United Kingdom other than under the Insurance Mediation Directive, the Act requires it to satisfy the establishment conditions, as set out in paragraph 13(1) of Part II of Schedule 3 to the Act.
(2) For the purposes of paragraph 13(1)(b)(iii) of Part II of Schedule 3 to the Act, the information to be included in the consent notice has been prescribed under regulation 2 of the EEA Passport Rights Regulations.

SUP 13A.4.2

See Notes

handbook-guidance
Where an EEA firm exercises its EEA right to establish a branch in the United Kingdom under the Insurance Mediation Directive, the Act requires it to satisfy the establishment conditions, as set out in paragraph 13(1A) of Part II of Schedule 3 to the Act.

SUP 13A.4.3

See Notes

handbook-guidance
For the purposes of paragraph 13(2)(b) of Part II of Schedule 3 to the Act, the applicable provisions may include FSA rules. The EEA firm is required to comply with relevant rules when carrying on a passported activity through a branch in the United Kingdom as well as with relevant UK legislation.

SUP 13A.4.3A

See Notes

handbook-guidance
Guidance on the matters that are reserved to a firm's Home State regulator is located in SUP 13A Annex 2.

The notification procedure

SUP 13A.4.4

See Notes

handbook-guidance
(1) When the FSA receives a consent notice from the EEA firm's Home State regulator, it will, under paragraphs 13(2)(b), (c) and 13(3) of Part II of Schedule 3 to the Act, notify the applicable provisions (if any) to:
(a) the EEA firm; and
(b) in the case of an EEA firm passporting under the Insurance Directives, the Home State regulator;
within two months of the notice date.
(1A) The notice date is:
(a) for a MiFID investment firm, the date on which the Home State gave the consent notice; and
(b) in any other case, the date on which the FSA received the consent notice.
(2) Although the FSA is not required to notify the applicable provisions to an EEA firm passporting under the Insurance Mediation Directive, these provisions are set out in SUP 13A Annex 1 (Application of the Handbook to Incoming EEA Firms).

SUP 13A.5

EEA firms providing cross border services into the United Kingdom

Is the service provided within the United Kingdom?

SUP 13A.5.1

See Notes

handbook-guidance
There is guidance for UK firms in SUP Appendix 3.6 on when a service is provided cross border. EEA firms may find this of interest although they should follow the guidance of their Home State regulators.

SUP 13A.5.2

See Notes

handbook-guidance
An EEA firmshould note that the requirement under the Single Market Directives to give a notice of intention to provide cross border services applies whether or not:
(1) it has established a branch in the United Kingdom; or

The conditions for providing cross border services into the United Kingdom

SUP 13A.5.3

See Notes

handbook-guidance
(1) Before an EEA firm exercises an EEA right to provide cross border services into the United Kingdom, the Act requires it to satisfy the service conditions, as set out in paragraph 14 of Part II of Schedule 3 to the Act.
(2) For the purposes of paragraph 14(1)(b) of Part II of Schedule 3 to the Act, the information to be contained in the regulator's notice has been prescribed under regulation 3 of the EEA Passport Rights Regulations.

The notification procedure

SUP 13A.5.4

See Notes

handbook-guidance
(1) Unless the EEA firmis passporting under the Insurance Mediation Directive, if the FSA receives a regulator's notice or, where no notice is required (in the case of an EEA firm passporting under the Banking Consolidation Directive), is informed of the EEA firm's intention to provide cross border services into the United Kingdom, the FSA will, under paragraphs 14(2)(b) and 14(3) of Part II of Schedule 3 to the Act, notify the EEA firm of the applicable provisions (if any) within two months of the day on which the FSA received the regulator's notice or was informed of the EEA firm's intention.
(2) Although the FSA is not required to notify the applicable provisions to an EEA Firm passporting under the Insurance Mediation Directive, these provisions are set out in SUP 13A Annex 1 (Application of the Handbook to Incoming EEA Firms).

SUP 13A.5.5

See Notes

handbook-guidance
An EEA firm that has satisfied the service conditions in paragraph 14 of Part II of Schedule 3 to the Act is entitled to start providing cross border services into the United Kingdom. However, an EEA firm that wishes to start providing cross border services but has not yet received notification of the applicable provisions may wish to contact the FSA's Passport Notifications Unit (see SUP 13A.8.1G (2)).

SUP 13A.6

Which rules will an incoming EEA firm be subject to?

SUP 13A.6.1

See Notes

handbook-guidance
(1) SUP 13A Annex 1 summarises how the Handbook applies to incoming EEA firms.
(2) SUP 13A Annex 2 summarises the matters that are reserved to a firm's Home State regulator.

SUP 13A.6.2

See Notes

handbook-guidance
An incoming EEA firmor incoming Treaty firm carrying on business in the United Kingdom must comply with the applicable provisions (see SUP 13A.4.4 G and SUP 13A.5.4 G) and other relevant UK legislation. For example where the business includes:
(1) business covered by the Consumer Credit Act 1974, then an incoming EEA firm or incoming Treaty firm must comply with the provisions of that Act, as modified by paragraph 15(3) of Schedule 3 to the Act; or
(2) effecting or carrying out contracts covering motor vehicle third party liability risks as part of direct insurance business, then an incoming EEA firm or incoming Treaty firm is required to become a member of the Motor Insurers' Bureau.

SUP 13A.6.3

See Notes

handbook-guidance
In particular, an EEA firmor Treaty firm must comply with the applicable provisions in SUP 10 (Approved persons). An EEA firm or Treaty firm should also refer to SUP 10.1 (Application) which sets out the territorial provisions of the approved persons regime.

SUP 13A.6.4

See Notes

handbook-guidance
Under the EEA Passport Rights Regulations, references in section 60 of the Act (applications for approval for persons to perform controlled functions) to "the authorised person concerned" include:
(1) an EEA MiFID investment firm whose Home State regulator has given a consent notice under paragraph 13 of Schedule 3 to the Act (see SUP 13A.4.1G (1) and SUP 13A.4.2 G) or a regulator's notice under paragraph 14 of that Schedule (see SUP 13A.5.3G (1)), and which will be the authorised person concerned if the EEA firm qualifies for authorisation under that Schedule; and
(2) any other EEA firm with respect to which the FSA has received a consent notice or regulator's notice under paragraph 13 of Schedule 3 to the Act (see SUP 13A.4.1G (1) and SUP 13A.4.2 G) or a regulator's notice under paragraph 14 of that Schedule (see SUP 13A.5.3G (1)), and which will be the authorised person concerned if the EEA firm qualifies for authorisation under that Schedule.

SUP 13A.6.5

See Notes

handbook-guidance
SUP 13A Annex 1 does not apply to incoming ECA providers acting as such.

SUP 13A.7

Top-up permission

SUP 13A.7.1

See Notes

handbook-guidance
If a person established in the EEA:
(1) does not have an EEA right;
(2) does not have permission as a UCITS qualifier; and
(3) does not have, or does not wish to exercise, a Treaty right (see SUP 13A.3.4 G to SUP 13A.3.11 G);
to carry on a particular regulated activity in the United Kingdom, it must seek Part IV permission from the FSA to do so (see the FSA website "How do I get authorised": http://www.fsa.gov.uk/Pages/Doing/how/index.shtml ). This might arise if the activity itself is outside the scope of the Single Market Directives, or where the activity is included in the scope of a Single Market Directive but is not covered by the EEA firm's Home State authorisation. If a person also qualifies for authorisation under Schedules 3, 4 or 5 of the Act as a result of its other activities, the Part IV permission is referred to in the Handbook as a top-up permission.

SUP 13A.7.2

See Notes

handbook-guidance
Where the FSA grants a top-up permission to an incoming EEA firm to carry on regulated activities for which it has neither an EEA right nor a Treaty right, the FSA is responsible for the prudential supervision of the incoming EEA firm, to the extent that the responsibility is not reserved to the incoming EEA firm'sHome State regulator.

SUP 13A.7.4

See Notes

handbook-guidance
For guidance on how to apply for Part IV permission under the Act, see the FSA website "How do I get authorised": http://www.fsa.gov.uk/Pages/Doing/how/index.shtml. If an EEA firm or Treaty firm wishes to make any subsequent changes to its top-up permission, it can make an application for variation of that permission (see SUP 6 (Applications to vary and cancel Part IV permission)).

SUP 13A.8

Sources of further information

SUP 13A.8.1

See Notes

handbook-guidance
For further information on UK regulation, an EEA firm, a Treaty firm or a UCITS qualifier should contact the Perimeter Guidance team at the FSA. Questions about the passporting notification procedures can be addressed to the Passport Notifications Unit.
(1) To contact the Perimeter Guidance team:
(a) telephone on +44 20 7066 0082 or fax on +44 20 7066 9719;
(b) write to: Perimeter Guidance team, The Financial Services Authority, 25 The North Colonnade, Canary Wharf, London E14 5HS.
(2) To contact the Passport Notifications Unit:
(a) telephone on +44 20 7066 1000 or fax on +44 20 7066 9798;
(b) write to: Passport Notifications Unit, The Financial Services Authority, 25 The North Colonnade, Canary Wharf, London E14 5HS;
(c) email: passport.notifications@fsa.gov.uk.

SUP 13A.9

The precautionary measure rule for incoming EEA firms

Application

SUP 13A.9.1

See Notes

handbook-rule
(1) The precautionary measure rule (SUP 13A.9.2 R) applies to an incoming EEA firm which:
(a) is authorised by a home state regulator with respect to its MiFID business; or
(b) has a top-up permission which covers MiFID business;

but which is not subject to provisions adopted by the Home State which transpose, in full, MiFID or the MiFID implementing Directive.
(2) The precautionary measure rule applies:
(a) with respect to the regulated activities carried on by the firm in the United Kingdom; and
(b) to the extent that the firm is not subject to provisions which are comparable to provisions transposing MiFID or the MiFID implementing Directive.
(3) This section (SUP 13A.9) is effective from 1 November 2007 until 31 October 2008.

The precautionary measure rule

SUP 13A.9.2

See Notes

handbook-rule
(1) A firm must comply with standards which are comparable to those required by the provisions of MiFID and the MiFID implementing Directive specified in rows (1) and (4) of the table in SUP 13A.9.3 R.
(2) An MTF must also comply with standards in row (2).
(3) The following firms must also comply with standards in row (3):
(b) a firm, which, either on its own account or on behalf of clients, concludes transactions in shares admitted to trading on a regulated market outside a regulated market or MTF (see MAR 7.1.2 R).

SUP 13A.9.3

See Notes

handbook-rule
Table: MiFID provisions for incoming EEA firms

SUP 13A.9.4

See Notes

handbook-evidential-provisions
(1) A firm should comply with the provisions of the Handbook which transpose the provisions of MiFID and the MiFID implementing Directive referred to in SUP 13A.9.3 R (even if they are expressed not to apply to an incoming EEA firm).
(2) Compliance with (1) may be relied upon as tending to establish compliance with the precautionary measure rule.

SUP 13A.9.5

See Notes

handbook-guidance
(1) The purpose of the precautionary measure rule is to ensure that an incoming EEA firm is subject to the standards of MiFID and the MiFID implementing Directive to the extent that the Home State has not transposed MiFID or the MiFID implementing Directive by 1 November 2007. It is to 'fill a gap'.
(2) The rule is made in the light of the duty of the United Kingdom under Article 62 of MiFID to adopt precautionary measures to protect investors.
(3) The rule will be effective for 12 months only; it reflects the scope of the Regulated Activities Order (including, for example, the overseas persons exclusion); and it allows for the possibility of a partial transposition by the Home State.
(4) An indication of the Handbook provisions which transpose MiFID and the MiFID implementing Directive can be found in the websites http://www.hm-treasury.gov.uk/media/C/7/transfinal1b120707.pdf and http://www.hm-treasury.gov.uk/media/C/E/transfinal2b120707.pdf. For the purposes of the precautionary measure rule, the principal provisions are the rules in COBS (including in particular those relating to inducements in COBS 2.3) and the conflicts and record keeping provisions in SYSC.
(5) The provisions applying to an incoming EEA firm are set out in SUP 13A Annex 1. The effect of SUP 13A.9.4E (1) is that some of the provisions which are expressed as not applying may need to be applied by a firm in order to meet a MiFID standard.

SUP 13A Annex 1

Application of the Handbook to Incoming EEA Firms

See Notes

handbook-guidance

SUP 13A Annex 2

Matters reserved to a Home State regulator

See Notes

handbook-guidance