GENE 8.5.2 Systems and controls to monitor changes (FSR, article 36 (4))

The systems and controls that an authorised firm is required to have under FSR, article 36 (4) must enable it to be notified of, and to monitor:

(a) any change or proposed change of its controllers;
(aa) any change or proposed change in the persons with which it has close links;
(b) any significant change in the conduct or circumstances of its controllers, or the persons with which it has close links, that might reasonably be considered to diminish the fitness and propriety of the firm or its ability to conduct its business soundly and prudently; and
(c) any other change required to be notified to the Regulatory Authority under these rules.

Examples of how to monitor

A firm may monitor changes about controllers using regulatory disclosures, press reports, public announcements, share registers and entitlements to vote, or the control of voting power, at general meetings

Note Matters referred to in paragraph (a) will be reported to the Regulatory Authority under Part 8.2, 8.3 or 8.4, as appropriate. Matters referred to in paragraph (b) will be reported under rule 8.4.2 (1) (c).
Amended by RM/2018-4 (as from 1st August 2018).