SUP 11.9 Changes in close links

A firm must notify the FSA that it has become or ceased to be closely linked with any person. The notification must include the information set out in SUP 16.5.4 R(4).1

1The firm must make a notification to the FSA under SUP 11.9.1 R:

1. (1)

   as soon as reasonably practicable and no later than one month after it becomes aware that it has become or ceased to be closely linked with any person; or

2. (2)

   where a firm has elected to report on a monthly basis, within fifteen business days of the end of each month and:

   1. (a)

      including the information set out in SUP 16.5.4R(4) for that month; and2

   2. (b)

      if there is no person required to be included in the notification for a particular month, confirming this fact in the notification.2

1

1. (1)

   A firm elects to report changes in close links on a monthly basis by sending a written notice of election to the firm's usual supervisory contact at the FSA.

2. (2)

   An election to report changes in close links on a monthly basis will stand until such time as the firm gives its usual supervisory contact at the FSA at least one month's written notice of its intention to cease reporting changes in close links on a monthly basis.