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04. Add regulated activities and FCA restrictions

Introduction

If your firm is FCA-regulated, it will carry out one or more FCA-regulated activity(s). It might also be restricted from carrying out some activities, too.

The process

Here is how you add regulated activities and FCA-restrictions in Corterum:

  1. Click Workbench and then Datasets.
  2. Click General and then Firm.
  3. Click Regulated activities and then click the circular Plus symbol to the right of the dataset title.
  4. The Regulated activities dataset will pop up.
  5. Click the Firm name box and select from the dropdown list the firm that you want to assign regulated activities to. Your firm must be created in Corterum to do this.
  6. Click the Regulated activities dropdown box and select all applicable activities from the list.
  7. Click inside the box titled Markets in which the firm operates. Type in all FCA/PRA-regulated markets that your firm operates in. Regulated markets are all those referenced in Article 47 of the Markets in Financial Instruments Directive 2004 (MiFID).
  8. Move to the box titled Nature, scale and complexity of business. Describe, in appropriate detail, the scale of your firm’s regulated activities as well as what it fundamentally does and how complex it is. Try to use as many facts, numbers and other objective data points as possible.
  9. Click inside the box titled Nature and range of activities undertaken. Describe, in appropriate detail, all the FCA/PRA-regulated activities discharged by your firm and note how wide-ranging the activities are.
  10. Navigate to the FCA regulation panel and click inside the box titled FCA permissions. Document all the activities that the FCA have permitted/approved your firm to carry out. Do not include any activities for which you do not have explicit FCA approval.
  11. If applicable, click inside the FCA restrictions box. List all the restrictions imposed on your firm by the FCA.
  12. If applicable, navigate to the PRA regulation panel and click inside the box titled PRA permissions. Document all the activities that the PRA have permitted/approved your firm to carry out. Do not include any activities for which your firm does not have explicit PRA approval.
  13. If applicable, click inside the PRA restrictions box. List all the restrictions imposed on your firm by the PRA.
  14. If applicable, click the button underneath where Documents is written. Upload any documents that support your regulated activities information. Remember to describe your document, select the date when you uploaded it and link the document to your firm.
  15. Click inside the Last update box and indicate the date when you last updated your firm’s regulated activities.
  16. Click Save and Close

 

Your firm’s regulated activities are now recorded in Corterum. 

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Next 05. Boards and committees
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