Company: FRFXF
Filing Date: 2025-10-01
Form Type: F-10
Source: 0001104659-25-095645
Chunk: 91

Company: FAIRFAX FINANCIAL HOLDINGS LTD/ CAN
Filing Date: 2025-10-01
Form: F-10
Chunk 91
---
 furnished them with misleading or inaccurate information or that there has been substantial departure from any proposal or forecast submitted to the relevant regulator.

The PRA and the FCA also have the power to take a range of disciplinary and enforcement actions in relation to a breach by a firm of FSMA or the rules made under FSMA as set out in the PRA Rulebook and other guidance and supervisory statements that the PRA may publish from time to time (the “

#### PRA Rulebook
”) and in the FCA Handbook of Rules and Guidance (the “

#### FCA Handbook
”), respectively. Such disciplinary and enforcement actions may include private censure, public censure, restitution, fines or sanctions and the award of compensation. The PRA (or, where relevant, the FCA) may also cancel or vary (including by imposing limitations on) a Part 4A Permission (described in greater detail below) of a firm.

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TABLE OF CONTENTS

Lloyd’s of London

The Society of Lloyd’s is itself authorized by the PRA and regulated by the PRA and the FCA, and its senior personnel are required to be approved by the regulators. Lloyd’s regulated activities include arranging deals in contracts of insurance written at Lloyd’s (“the basic market activity”), arranging deals in participations in Lloyd’s syndicates (“the secondary market activity”) and carrying out any activity in connection with, or for the purposes of, these two activities (article 14 of the Financial Services Act 2012 (Transitional Provisions) (Permission and Approval) Order 2013).

The Council of Lloyd’s (“

#### Council
”) is the governing body of the Lloyd’s market and under the Lloyd’s Act 1982 (the “

#### 1982 Act
”), it is responsible for the market’s management and supervision. Under the 1982 Act, the Council has the power to regulate and direct the business of the market, and to make by-laws. Lloyd’s market rules are set out in the by-laws, and in other guidance, codes of conduct, bulletins and principles issued by the Council or under its authority, although regulation of the Lloyd’s market is under the ultimate direction of the PRA and the FCA. On July 2, 2025, Lloyd’s announced that it is proposing a suite of updates to modernize and streamline how its regulatory requirements are presented, maintained and understood across the market. These changes aim to make the Lloyd