1This section applies to a personal investment firm which is either:
an exempt CAD firm;
a category B firm whose permission does not include establishing, operating or winding up a personal pension scheme.
The relevant reporting form under SUP 16.12 is:
A firm should not include in its annual income those amounts due to it that are used in the calculation of its capital resources requirement under MIPRU 4.2.11R (Capital resources requirement: mediation activity only) or MIPRU 4.2.19R (Capital resources requirement: insurance mediation activity and home financing, or home finance administration).
For the purpose of IPRU-INV 13.14.3R, a firm should ensure that the amount of annual income adequately reflects the level of its designated investment business when deciding whether to add any income not included under any of the reporting forms in IPRU-INV 13.4.3R(3). In doing so, the firm should have regard to its circumstances, for example, where such income is being accounted for by a third party.