FCA Handbook - SYSC TP 13 SMCR: application to firms with deferred payment credit temporary permission

You are viewing SYSC TP 13 SMCR: application to firms with deferred payment credit temporary permission as of . SYSC TP 13 SMCR: application to firms with deferred payment credit temporary permission was last updated on 15/07/2026.

Rules

Guidance

Related resources

SYSC TP 13 SMCR: application to firms with deferred payment credit temporary permission

Application

SYSC TP 13 applies to a firm with a deferred payment credit temporary permission.

[Note: articles 10 and 11 of the Deferred Payment Credit Order.]

Once a firm no longer has a deferred payment credit temporary permission because it has ceased to have effect in accordance with article 10(3) of the Deferred Payment Credit Order, SYSC TP 13 will cease to apply to that firm.

Firms with only a deferred payment credit temporary permission

In circumstances where the only regulated activities in a firm's permission are deferred payment credit activities permitted by a deferred payment credit temporary permission, a firm is not an SMCR firm (and is included in Part Three of SYSC 23 Annex 1 (Definition of exempt firm)).

Firms whose Part 4A permission comprises permission granted by the FCA and deferred payment credit temporary permission

(1) This rule applies where a firm's permission comprises permission to carry on regulated activities granted by the FCA under Part 4A of the Act and a deferred payment credit temporary permission.
(2) The firm's deferred payment credit temporary permission is to be disregarded for the purposes of categorising what type of SMCR firm the firm is in accordance with SYSC 23 Annex 1 (Definition of SMCR firm and different types of SMCR firms).
(3) For the purposes of those elements of the senior managers and certification regime that are implemented through the provisions of the FCA Handbook described in SYSC 23.3.3G:
1. (a) where the application of a provision is determined in whole or in part by reference to the firm's permission, the firm's deferred payment credit temporary permission is to be disregarded for the purpose of determining the application of the provision; and
2. (b) where the application of a provision is determined in whole or in part by reference to regulated activities carried on by the firm, any deferred payment credit activity which that firm's deferred payment credit temporary permission permits it to carry on is to be treated as if it were not a regulated activity for the purposes of determining the application of the provision.

An overview of the senior managers and certification regime and where to find the main FCA Handbook provisions can be found in SYSC 23.3.