Waivers form

Waiver application form [doc]

 

See also

A consolidated list of waivers that we have approved and published is available in the FSA Library

Published waivers

We may offer a 'general' waiver to firms (referred to as waivers with consent under section 148(2) of the Financial Services & Markets Act (2000)).

We may do this in exceptional circumstances where we consider that a waiver should apply to a number of firms (for example, where an unmodified rule may not meet the circumstances of a particular category of firm). In these cases we will tell the firms concerned that the waiver is available. We will do this either by contacting them individually or by publishing details of the availability of the waiver.

What you need to do

To take advantage of any of the waivers or modifications listed below, write to the Central Waivers Team, FSA, 25 The North Colonnade, Canary Wharf, London E14 5HS, confirming that you agree to comply with the conditions placed on use of the waiver/modification, as set out in the Waiver Direction.

See the list below for waivers or modifications currently available.

These waivers are current as at 3 June 2010 and we update this information monthly, new waivers added during the last month will be shown in bold text.

 
BIPRU
Modification by Consent - BIPRU 12.6
Available to all Simplified ILAS BIPRU firms.
Modification by Consent - BIPRU 9.3
Available to any UK Banks who have issued asset backed securities, backed for providers by credit card receivables
COLL
Modification by Consent of COLL 5.6.22R
Available to the depositary of a non-UCITS retail scheme (NURS) whose investment objective and policy include the power to invest in immovable property. For a NURS constituted as an ICVC, it also applies to the ICVC itself
COMP

Modification by Consent of COMP 16.1.1R
Available to deposit takers who have credit card products that do not offer interest on positive balances.

Modification by Consent of COMP 16.3.1R
Available to deposit takers who do not have branches.

Modification by Consent of COMP 17.2.3R (1)
Available to deposit takers who do have credit card products that allow positive balances.

Modification by Consent of COMP 17.2.8R
Available to deposit takers that are subject to the FSA’s SCV requirements.

CRED
Modification by Consent - CRED 8.2.1, 8.3.1, 8.4.1, 9.1.5, 9.3.7, 10.5.1 & SUP 16.7.63.
Available to Credit Unions that have contracts to take part in the Growth Fund 2 Initiative
DISP
Modification by Consent of certain DISP rules
Available only to providers of personal current accounts with overdraft facilities
GENPRU and INSPRU

Modification by Consent of GENPRU 2 Annex 7R and INSPRU 2.1.33R
Available to seller's of Payment Protection Insurance

INSPRU

Modification by Consent of INSPRU 2.1.22R
Available to managing agents of Lloyd's non-life syndicates

Modification by Consent of INSPRU 2.1.22R
This modification is available to insurance firms with exposures to entities which have HM Treasury as a common shareholder.

IPRU(INS)
Modification by Consent of IPRU(INS) 9.17, 9.19, 9.20 & 9.20A
Available to insurance firm's whose business is in run off
FSA guidance on IPRU(INS) Appendix 9.2 Form 20A instruction 2
Available to non-life insurance firms
SUP

Modification by Consent - SUP 16.12.5R (Note 5), SUP 16.12.11R (Note 5), SUP 16.12.15R (Note 5), SUP 16.12.22AR (Note 5) and SUP 16.12.25AR (Note 5)
Available to firms with a CAD2 waiver

Modification by Consent of SUP 16.11
Available to providers of Home Reversion and Home Purchase Plans
Modification by Consent of SUP 16.12.5R and GENPRU 1.2.2R (1)
This modification applies to firms which have an effective Global Liquidity Concession (“GLC”) in place on 30 November 2009 which will expire before 31 October 2010.
Modification by Consent – SUP TP 1.2
Available to all UK-incorporated banks currently using the Sterling Stock liquidity approach and those building societies which will not be a simplified ILAS BIRPU firms, regarding the submission of the FSA052 regulatory return introduced by SUP TP 1.2.


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