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Status: You are viewing the version of the handbook as on 2019-01-31.

SUP 16.19 1Immigration Act compliance reporting

Application

SUP 16.19.1DRP
  1. (1)

    This section applies to a firm which is subject to any of the following provisions of the Immigration Act 2014:2

    1. (a)

      2the prohibition on opening a current account for a disqualified person in section 40;

    2. (b)

      2the requirement to carry out immigration checks in relation to current accounts in section 40A;

    3. (c)

      2the requirement to notify the existence of current accounts for disqualified persons in section 40B; and

    4. (d)

      2the requirement to close an account in accordance with section 40G.

  2. (2)

    This section does not apply to a branch of a firm where the branch is established outside the United Kingdom.

[Note: A firm is subject to the prohibition in section 40 and the requirements in sections 40A, 40B and 40G2 of the Immigration Act 2014 if it is a “bank” or “building society” for the purposes of section 42 of the Immigration Act 2014.]

Annual compliance reporting

SUP 16.19.2DRP

A firm must report its compliance with sections 40, 40A, 40B and 40G2 of the Immigration Act 2014 to the FCA annually.

Method for submitting compliance reports

SUP 16.19.3DRP

A firm must report its compliance in the form specified in SUP 16 Annex 1AR using the appropriate online systems accessible from the FCA's website.

Time period for submitting compliance reports

SUP 16.19.4DRP

A firm which is subject to SUP 16.7A (Annual reports and accounts) must report its compliance at the same time that it submits its annual reports and accounts to the FCA.

SUP 16.19.5DRP

A firm which is not subject to SUP 16.7A (Annual reports and accounts) must report its compliance within four months after its accounting reference date.