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SUP 16.10 12Verification of firm details13

Application

SUP 16.10.1GRP

The effect of SUP 16.1.1 R is that this section applies to every firm except:

  1. (1)

    an ICVC; or

  2. (2)

    a UCITS qualifier; or

  3. (2A)

    an AIFM qualifier; or6

  4. (3)

    [deleted]12

    4
  5. (4)

    a dormant account fund operator.4

Purpose

SUP 16.10.2GRP

Firm details are13 used by the FCA10 :

1717
  1. (1)

    to ensure that a firm is presented with the correct regulatory return when it seeks to report electronically;

  2. (2)

    in order to communicate with a firm;

  3. (3)

    as the basis for some sections of the Financial Services Register;17 and

    17
  4. (4)

    in order to carry out thematic analysis across sectors and groups of firms.

SUP 16.10.3GRP

In view of the importance attached to firm details13, and the consequences which may result if they are13 wrong, this section provides the framework for a firm to check and correct them13.

1114217

14Requirement to check the accuracy of firm details and to report changes to the FCA

SUP 16.10.4RRP
  1. (1)

    Within 6016 business days of its accounting reference date, a firm must check the accuracy of its firm details13 through the relevant section of the FCA10 website.

    1717
  2. (2)

    [paragraph suspended by FSA 2004/79]5

  3. (3)

    If any firm details are13 incorrect, the firm must submit5 the corrected firm details13 to the FCA10 using the appropriate form set out in SUP 15 Ann 3 and in accordance with SUP 16.10.4A R.5

    5175
SUP 16.10.4-AR

[deleted]15

SUP 16.10.4ARRP
  1. (1)

    A firm must submit any corrected firm details under SUP 16.10.4R(3) using the appropriate online systems accessible through the FCA’s website.16

    88

    138171717779
  2. (2)

    [deleted]16

    81312171717
    1. (a)

      to 14firm.details@fca.org.uk or via post or hand delivery to the FCA marked for the attention of the 14'Customer Contact Centre'; or12

      1414
    2. (b)

      by using the appropriate online systems available from the FCA’s website.12

  3. (3)

    Where a firm is obliged to submit corrected firm details13 online under (1), if the FCA's17 information technology systems fail and online submission is unavailable for 24 hours or more, until such time as facilities for online submission are restored, a firm must submit its corrected firm details13 to firm.details@fca.org.uk16.

    171717131713

Frequency and timing of reports: confirming that firm details remain accurate

UP 16.10.4AAR
  1. (1)

    16This rule applies where, in complying with SUP 16.10.4R(1), a firm does not need to submit corrected firm details under SUP 16.10.4R(3).

  2. (2)

    Within 60 business days of its accounting reference date, a firm must submit a report to the FCA confirming that the firm details which it has checked under SUP 16.10.4R(1) remain accurate, using the appropriate online systems accessible through the FCA’s website.

SUP 16.10.4BGRP

5If the FCA's17 information technology systems fail and online submission is unavailable for 24 hours or more, the FCA17 will endeavour to publish a notice on its website confirming that online submission is unavailable and that the alternative methods of submission set out in SUP 16.3.9 R17 should be used.

171717
SUP 16.10.4CG

5Where SUP 16.10.4AR (3) applies to a firm, GEN 1.3.2 R (Emergency) does not apply.

SUP 16.10.5GRP

The firm details are made available to the firm when the firm logs into the appropriate section of the FCA’s website. The firm should check the firm details and send any corrections to the FCA.15 The FCA’s preferred method of receiving corrections to firm details is by the online forms available at the FCA’s website.

1310171713101717101717131017172
SUP 16.10.6GRP

A firm may check, and submit corrections to, its firm details13 more frequently than annually.

SUP 16.10.7G

[deleted]5

5