Transitional Provisions and Schedules
PRIN TP 1
Transitional provisions
| Material to which the transitional provision applies | Transitional Provision | Transitional Provision: dates in force | Handbook provision: coming into force | ||
| 1. | PRIN 1 Annex 1 R 1.2(2) | R | A firm need not comply with PRIN Ann 1R 1.2(2) in relation to an eligible counterparty if the client was correctly categorised as a market counterparty on 31 October 2007 and the firm complied with COB 4.1.12 R (2) (Large intermediate customer classified as market counterparty). | From 1 November 2007 indefinitely | 1 November 2007 |
- 01/11/2007
PRIN Sch 1
Record Keeping Requirements
- 01/12/2004
PRIN Sch 1.1
See Notes
| There are no record keeping requirements in PRIN. |
- 01/12/2004
PRIN Sch 2
Notification requirements
- 01/12/2004
PRIN Sch 2.1
See Notes
| The aim of the guidance in the following table is to give the reader a quick over-all view of the relevant requirements for notification and reporting. |
| It is not a complete statement of those requirements and should not be relied on as if it were. |
- 01/12/2004
PRIN Sch 2.2
See Notes
| Handbook reference | Matter to be notified | Contents of notification | Trigger event | Time allowed |
| Principle 11 (PRIN 2.1.1 R) | Anything relating to the firm of which the FSA would reasonably expect notice | Appropriate disclosure | Anything relating to the firm of which the FSA would reasonably expect notice | Appropriate |
- 01/12/2004
PRIN Sch 3
Fees and other required payments
- 01/12/2004
PRIN Sch 3.1
See Notes
| There are no requirements for fees or other payments in PRIN. |
- 01/12/2004
PRIN Sch 4
Powers Exercised
- 01/12/2004
PRIN Sch 4.1
See Notes
| The following powers and related provisions in the Act have been exercised by the FSA to make the rules in PRIN: |
| Section 138 (General rule-making power) |
| Section 145 (Financial promotion rules) |
| Section 146 (Money laundering rules) |
| Section 150(2) (Actions for damages) |
| Section 156 (General supplementary powers) |
- 01/12/2004
PRIN Sch 4.2
See Notes
- 06/10/2009
PRIN Sch 5
Rights of action for damages
- 01/12/2004
PRIN Sch 5.1
See Notes
| The table below sets out the rules in PRIN contravention of which by an authorised person may be actionable under section 150 of the Act (Actions for damages) by a person who suffers loss as a result of the contravention. |
- 01/12/2004
PRIN Sch 5.2
See Notes
| If a "Yes" appears in the column headed "For private person?", the rule may be actionable by a "private person" under section 150 (or, in certain circumstances, his fiduciary or representative; see article 6(2) and (3)(c) of the Financial Services and Markets Act 2000 (Rights of Action) Regulations 2001 (SI 2001 No 2256)). A "Yes" in the column headed "Removed" indicates that the FSA has removed the right of action under section 150(2) of the Act. If so, a reference to the rule in which it is removed is also given. |
- 01/12/2004
PRIN Sch 5.3
See Notes
| The column headed "For other person?" indicates whether the rule may be actionable by a person other than a private person (or his fiduciary or representative) under article 6(2) and (3) of those Regulations. If so, an indication of the type of person by whom the rule may be actionable is given. |
- 01/12/2004
PRIN Sch 5.4
See Notes
| Chapter/Appendix | Section/Annex | Paragraph | Right of Action | ||
| For private person? | Removed? | For other person? | |||
| All rules in PRIN | No | Yes PRIN 3.4.4 R |
No | ||
- 01/12/2004
PRIN Sch 6
Rules that can be waived
- 01/12/2004
PRIN Sch 6.1
See Notes
- 01/12/2004