Transitional Provisions and Schedules
SYSC TP 1
Transitional provisions
SYSC TP 1.1
| GEN contains some technical transitional provisions that apply throughout the Handbook and which are designed to ensure a smooth transition at commencement. |
Money Laundering Transitional Provisions
Extra time provisions
Compliance with ML and SYSC 3.2.6AR to SYSC 3.2.6JG
| (1) | (2) Material to which the transitional provision applies |
(3) | (4) Transitional provision |
(5) Transitional provision: dates in force |
(6) Handbook provision: coming into force |
| (1) | SYSC 3.2.6A R to SYSC 3.2.6J G | R | Compliance with ML also counts as compliance with SYSC 3.2.6A R to SYSC 3.2.6J G and vice versa. | From 1 March 2006 to 31 August 2006 | (1) 1 March 2006 |
| (2) | ML | (2) In force until 31 August 2006 |
- 01/03/2006
SYSC Sch 1
Record keeping requirements
- 01/12/2004
SYSC Sch 1.1
See Notes
| The aim of the guidance in the following table is to give the reader a quick over-all view of the relevant record keeping requirements. |
| It is not a complete statement of those requirements and should not be relied on as if it were. |
- 01/12/2004
SYSC Sch 1.2
See Notes
| Handbook reference | Subject of record | Contents of record | When record must be made | Retention period |
| SYSC 2.2.1 R | Arrangements made to satisfy SYSC 2.1.1 R (apportionment) and SYSC 2.1.3 R (allocation) | Those arrangements | On making the arrangements and when they are updated | Six years from the date on which the record is superseded by a more up-to-date record |
| SYSC 3.2.20 R | Matters and dealings (including accounting records) which are the subject of requirements and standards under the regulatory system | Adequate | Adequate time | Adequate |
- 01/12/2004
SYSC Sch 2
Notification requirements
- 01/12/2004
SYSC Sch 2.1
See Notes
| There are no notification or reporting requirements in SYSC. |
- 01/12/2004
SYSC Sch 3
Fees and other required payments
- 01/12/2004
SYSC Sch 3.1
See Notes
| There are no requirement for fees or other payments in SYSC. |
- 01/12/2004
SYSC Sch 4
Powers exercised
- 01/12/2004
SYSC 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 SYSC: |
| 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
SYSC Sch 5
Rights of action for damages
- 01/12/2004
SYSC Sch 5.1
See Notes
- 01/12/2004
SYSC 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
SYSC 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
SYSC Sch 5.4
See Notes
| Chapter/Appendix | Section/Annex | Paragraph | Right of action under section 150 | ||
| For private person? | Removed? | For other person? | |||
| All rules in SYSC | No | Yes SYSC 1.1.12 R |
No | ||
- 01/12/2004
SYSC Sch 6
Rules that can be waived
- 01/12/2004