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Superseded Investment Business Handbook

THIS HANDBOOK NO LONGER APPLIES. IT IS RETAINED ON THE WEBSITE FOR INFORMATION PURPOSES ONLY. Until 31st December 2008 this handbook applied to businesses licensed before 1st August 2008 only.

Contents

section 1

REGULATORY STRUCTURE FOR INVESTMENT BUSINESSES - INVESTMENT BUSINESS ACTS 1991 TO 1993

1.1The General Strategy for licensing and regulating Investment Businesses
1.2Legislative Framework
1.3Definition - General Interpretation
1.4Definition - Dealing in Investments
1.5Definition - Arranging Deals in Investments
1.6Definition - Managing Investments
1.7Definition - Investment Advice
1.8Definition - Managing etc. Collective Investment Schemes
1.9Excluded Activities
1.10Exemptions
section 2

GENERAL LICENSING POLICY FOR THOSE SEEKING AN INVESTMENT BUSINESS LICENCE

2.1The Commission's Fit & Proper Test
2.2General Licensing Policy and Specific Requirements for Investment Business Licenceholders
2.3Exemption for Disaster Recovery Operations
section 3

ONGOING REGULATORY REQUIREMENTS FOR INVESTMENT BUSINESSES

3.1Licence Conditions
3.2Regulatory Codes
3.2.1Regulatory Codes ("the Codes")
3.2.2Financial Resources and Compliance Reporting
3.2.3Clients' Money
3.2.4Clients' Investments
3.2.5Conduct of Business
3.2.6Audit Requirements
3.2.7General Requirements
3.2.8Advertising
3.3Know Your Customer
3.4Compliance Procedures
3.5Supervisory and Focused Visits
section 6

FEES

Appendicies

Appendix A
AThe Investment Business Act 1991 (as amended)
Appendix B
BThe Investment Business Order 2004
Appendix C

Regulatory Codes relating to:-

C1Financial Resources and Compliance Reporting Code
C2Clients' Money
C3Clients' Investments
C4Conduct of Business
C5Audit Requirements
C6General Requirements
C7Advertising
C8Financial Supervision Commission (Stockbrokers) (No 2) Regulatory Code 2003
Appendix D

General Orders and Regulations

D1Investment Business (Clients' Money) Regulations 1996
D2Financial Supervision (Promotion of Unregulated Schemes) (Exemption) Regulations 1992
D3Financial Supervision (Authorised Persons) Regulations 1992
D4Investment Business (Recognised Persons) (Revocations) Regulations 2002
D5Investment Business (Indemnity) (Designated Recognised Regulators) (Revocation) Order 2002
D6Investment Business ("Not fit and proper") Regulations 2005
D7Investment Business (Civil Penalties) Regulations 2006
D8Financial Services Review Regulations
Appendix E

Orders and Regulations granting exemption to certain classes of person (see also Appendix I)

E1Investment Business (Exemption) (Banks and Building Societies) Regulations 1992
E2Investment Business (Exemption) (Miscellaneous) Regulations 2001
E3Investment Business (Exemption) (Certificates of Deposit) Regulations 1992
E4Investment Business (Exemption) (Fund Managers) Regulations 2005
E5Investment Business (Exemption) (Group Pension Schemes) Regulations 1996
E6Investment Business (Exemption) (Temporary Business Continuity Operations) Regulations 2006
Appendix I

Fees

I1Investment Business (Fees) Regulation 2007
Appendix J

Financial and Compliance Returns

J1Annual Financial Declaration - Associated Asset Manager
J2Financial Resources Statement
J3Annual Financial Declaration
J4Compliance Statement