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Status: You are viewing the version of the handbook as on 2019-12-09.

SUP 13.11 Record keeping

SUP 13.11.1RRP
  1. (1)

    A UK firm which is exercising an EEA right must make and retain a record of:

    1. (a)

      the services or activities it carries on from a branch in, or provides cross-border into, another EEA State under that EEA right; and

    2. (b)

      the details relating to those services or activities (as set out in SUP 13.6 and SUP 13.7)1.

  2. (2)

    The record in (1) must be kept for five years (for firms passporting under MiFID) or 1three years (for other firms)1from the earlier of the date on which:

    1. (a)

      it was superseded by a more up-to-date record; or

    2. (b)

      the UK firm ceased to have a branch in, or carry on cross border services into, any EEA State under an EEA right.

SUP 13.11.2GRP

The record in SUP 13.11.1 R need not relate to the level of business carried on. A UK firm may comply with SUP 13.11.1 R by, for example, keeping copies of all notices of intention and change to details notices1.

SUP 13.11.3GRP

A UK firm should monitor the business carried on under an EEA right to ensure that any changes to details are notified as required by SUP 13.6 (Changes to branches) and 1SUP 13.7 (Changes to cross border services).