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General Provisions (GEN)
17.1 Introduction
The General Provision (GEN) section of the FCA handbook contains brief, general requirements for all firms to follow regarding customer communication, disclosure of regulated activities and provision of business information to customers to ensure an open and transparent relationship.
17.2 Statutory Disclosure Status
The company confirms that it complies with the requirements under section GEN 4 of the FCA Handbook in respect to the information about itself and its regulator and regulated activities and how these are disclosed to clients and customers.
We confirm that all materials and forms of customer communications are checked when delivered from the supplier and that electronic formats such as emails and our website are kept up to date with our business and regulatory information.
The information we disclose on all formats of communications include, but are not limited to: –
- Disclosure Statement – Authorised and regulated by the Financial Conduct Authority
- Full Business Name (including any trading name)
- Full Registered & Trading Address
- Contact Details – Email, Website URL & Telephone Numbers
- FCA Authorisation/Interim Permission Number
- Company Registration Number (if applicable)
- DPA Register Number
- VAT Number (if applicable)
17.2.1 Additional Disclosure Requirements
Incoming Firm without Top-Up Permission: –
(a) “Authorised by [name of Home State permission regulator]
or
(b) “Authorised by [name of Home State regulator] and subject to limited regulation by the
Financial Conduct Authority. Details about the extent of our regulation by the Financial Conduct
Authority are available from us on request”
Incoming Firm with Top-Up Permission: –
“Authorised by [name of Home State regulator] permission and authorised and subject to limited regulation by the Financial Conduct Authority. Details about the extent of our authorisation and regulation by the Financial Conduct Authority are available from us on request”
Appointed Representative (AR) of a Firm: –
“[Name of appointed representative] is an appointed representative of [name of firm] which
is [then continue with the required disclosure of the firm]”.
NOTE: If the appointed representative has more than one principal, the disclosure must relate to the principal or principals responsible for the regulated activity or activities concerned. The required disclosure of the firm is that which would apply were the firm to make the disclosure under the rules applicable to it.
17.2.2 General Disclosure Notes
- A firm must use the formulation “Financial Conduct Authority” and not the abbreviated formulation “FCA”.
- An incoming firm is free to translate the name of its Home State regulator into English if it wishes. In doing so, it must ensure that the State in which the regulator is based is clear.
- An incoming firm without a top-up permission may make either disclosure (a) or disclosure (b) unless it otherwise indicates or implies to the customer that it is regulated or supervised by the FCA, in which case it must make disclosure (b).
- If a firm offers to make details about the extent of its authorisation or regulation by the FCA available on request and a customer requests such details, it must provide those details in a way that is clear, fair and not misleading.
- If the appointed representative has more than one principal, the disclosure must relate to the principal or principals responsible for the regulated activity or activities concerned. The required disclosure of the firm is that which would apply were the firm to make the disclosure under the rules applicable to it.
- Any firm listed in this table is permitted to add words to the relevant required disclosure statement but only if the firm has taken reasonable steps to satisfy itself that the presentation of its statutory status will, as a consequence, be fair, clear and not misleading and be likely to be understood by the average member of the group to whom it is directed or by whom it is likely to be received. For example, an authorised professional firm may wish to make it clear that it is also regulated by its professional body.
17.2.3 Insurance against Penalties
The company confirm that we understand that under the FCA regulatory system, there is no legal insurance cover or provision that covers part or all of a financial penalty imposed by the regulator.
We agree that any such penalties imposed on the company by the regulator will be paid by the person on whom they are imposed.
Where such penalty is imposed on an employee, Director or partner (current or former) of the company, we understand that the firm is not legally allowed to pay part or all of the financial penalty or offer any other form of payment or benefit in kind in relation to the penalty.
17.3 Consumer Call Charges Rules
In accordance with section GEN 7.2 of the FCA Handbook, the company confirms that where we operate a telephone line for enabling a consumer to contact us in relation to a contract or arrangement that has been entered into with us, we will not bind the consumer to pay more than the basic rate for the telephone call.
For the purposes of this manual, we class our telephone basic rate as the simple cost of connection and confirm that no monies from telephone calls go towards our revenue or costs. Our incoming telephone rate for consumer is currently [£x.xx]
As per GEN 7.2, we understand that the below rules are in place and have a direct impact on the telephone number that we use and the call charges we append to any such number/s.
The following numbers, if used by the company, would comply with the call charges rule:
- geographic numbers or numbers which are always set at the same rate, which usually begin with the prefix 01, 02 or 03
- calls which can be free of charge to call, for example 0800 and 0808 numbers
- standard mobile numbers, which usually begin with the prefix 07, provided that we ordinarily use a mobile number to receive telephone calls
The following numbers, if used by the company, would not comply with the call charges rule:
- premium rate numbers that begin with the prefix 09
- other revenue sharing numbers in which a portion of the call charge can be used to either provide a service or make a small payment to us, such as telephone numbers that begin with the prefix 084 or 0871, 0872 or 0873
- telephone numbers that begin with the prefix 0870 as the cost of making a telephone call on such numbers can be higher than a geographic cost and will vary depending on the consumer’s telephone tariff