• GEN 1. GEN 1. INTRODUCTION

    • GEN 1.1 GEN 1.1 Application

      • GEN 1.1.1

        This Rulebook ("GEN") applies to every Person to whom the Financial Services and Markets Regulations 2015 ("FSMR") or Market Infrastructure Rules ("MIR") applies and to the same extent as those Regulations or Rules, except to the extent that a provision of GEN provides for a narrower application. This Rulebook does not apply to Remote Bodies. 

        Amended on (3 February, 2020).

    • GEN 1.2 GEN 1.2 Overview of the Rulebook

      • Guidance

        1. Chapter 2 sets out the Principles for Authorised Persons, Approved Persons and Recognised Persons.
        2. Chapter 3 specifies the requirements upon senior management to implement effective systems and controls. There are also requirements upon the Authorised Person to apportion material responsibility among its senior management.
        3. Chapter 4 contains mainly guidance in respect of: interpretation of the Rulebook, emergency procedures, disclosure, the location of offices, Close Links, Complaints against the Regulator and the public records maintained by the Regulator in accordance with section 196 of the FSMR.
        4. Chapter 5 specifies the Regulator's authorisation requirements for any applicant intending to become an Authorised Person, the threshold conditions required for such authorisation and requirements relating to Approved Persons and Recognised Persons.
        5. Chapter 6 specifies, in relation to Authorised Persons and Recognised Bodies, the auditing and accounting requirements which deal with such matters as the appointment and termination of auditors, accounts and Regulatory Returns and the functions of an auditor.
        6. Chapter 7 prescribes the manner in which an Authorised Person must handle Complaints made against it by Retail Clients or Professional Clients.
        7. Chapter 8 specifies the Regulator's supervisory requirements for any Authorised Person being regulated by the Regulator.
        8. Chapter 9 specifies requirements relating to operators of Representative Offices and contains related guidance.
        Amended on (3 February, 2020).