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SUP 16.7 Financial reports

Application

SUP 16.7.1G

The effect of SUP 16.1.1 R is that this section applies to every firm within a category listed in the left hand column of SUP 16.7.5 G. Firms should also have regard to reporting requirements that arise from SUP 16.12, including Transitional Provisions, for reporting dates after 1 January 2008.28

SUP 16.7.2G
  1. (1)

    Financial reporting17 requirements for insurers, excluding friendly societies are set out in IPRU(INS). For their other reporting requirements, see SUP 16.7.73 R - SUP 16.7.75 R.17

    17
  2. (2)

    Financial reporting requirements for friendly societies are set out in IPRU(FSOC). 1311 For their other reporting requirements, see SUP 16.7.73 R- SUP 16.7.75 R. 17

Purpose

SUP 16.7.3G

Principle 4 requires firms to maintain adequate financial resources, and the Interim Prudential sourcebooks (or, in the case of firms with permission to carry on insurance mediation activity, home finance mediation activity,27 or both, MIPRU) 11set out the FSA's detailed capital adequacy requirements. By submitting regular financial reports, firms enable the FSA to monitor their compliance with Principle 4 and with the detailed requirements of the Interim Prudential sourcebooks orMIPRU23, as the case may be11. These reports also help the FSA to analyse firms' financial condition and performance and to understand their business. By means of further collation and review of the data which these reports provide, the FSA also uses the reports to identify developments across the financial services industry and its constituent sectors.106

272323
SUP 16.7.4G

The requirements in this section differ according to firm categories, as different financial information is required to reflect different types of business. The requirements in SUP 16.7 represent an interim approach to financial reporting, based mainly on the reporting requirements which previous regulators applied to firms. Standard formats are used for reporting by each category of firm, to assist comparability between firms of the same category. Timely submission is important to ensure the FSA has up-to-date information.

SUP 16.7.5G

Applicable rules and guidance on 11reports (see SUP 16.7.1 G)

351212111211121111111111111113

Firm category

Applicable rules and guidance28

Bank, other than an EEA bank with permission for cross border services only351

SUP 16.7.7 R - SUP 16.7.15 R

SUP 16.7.82 R - SUP 16.7.83 R1235

Building society35

SUP 16.7.16 R - SUP 16.7.19 R

SUP 16.7.82 R - SUP 16.7.83 R1235

Service company

SUP 16.7.20 R - SUP 16.7.21 R

UK ISPV22

SUP 16.7.21A R - SUP 16.7.21B R22

Securities and futures firm (Note 1)

SUP 16.7.22 R - SUP 16.7.34 G

SUP 16.7.82 R - SUP 16.7.83 R12

Investment management firm

SUP 16.7.35 R - SUP 16.7.41 R

SUP 16.7.82 R - SUP 16.7.83 R12

Authorised professional firm (Note 2)

SUP 16.7.54 R - SUP 16.7.54A R11

Society of Lloyd's

SUP 16.7.55 R - SUP 16.7.56 R and SUP 16.7.59 R (1) and SUP 16.7.59 R (2)

Members' adviser

SUP 16.7.57 R - SUP 16.7.58 R, SUP 16.7.59 R (3), SUP 16.7.60 G and SUP 16.7.61 G28

Credit Union353

SUP 16.7.62 R - SUP 16.7.63 R353

ELMI

SUP 16.7.66 R

SUP 16.7.82 R - SUP 16.7.83 R12

UCITS management company7

7SUP 16.7.67 R to SUP 16.7.72 R28

Member of a financial conglomerate35

SUP 16.7.82 R to SUP 16.7.83 R35

17Insurer Friendly society

SUP 16.7.73 R - SUP 16.7.75 R

A firm, not subject to other reporting requirements in SUP 16.7.1 G- SUP 16.7.75 R(nor to reporting requirements in IPRU(INS) or IPRU(FSOC))13:1114

SUP 16.7.76 R - SUP 16.7.81 G11

(a)11

with permission to carry on one or more of:11

(1)11

insurance mediation activity; or11

(2)11

home finance mediation activity;27 or11

27

(3)11

home finance providing activity;27 or11

27

(4)11

administering a home finance transaction;27 or11

27

(b)11

which is a personal investment firm1113

Note 1 = For an oil market participant, this section does not apply unless IPRU(INV) 3 applies to the firm.

Note 2 = This section applies to an authorised professional firm which is required by IPRU(INV) 2.1.2R(1) to comply with chapter 3, 5, 10 or 13 of IPRU(INV). This section applies to such a firm as if it were the relevant firm category in the right hand column of IPRU(INV) 2.1R.

SUP 16.7.6G

For each firm category there is a table listing the reporting requirements. The tables state the name of each report, the frequency with which a firm must submit it, and the due date for submission. Detailed reporting forms and rules and guidance on their completion are contained in annexes to this chapter.

Compulsory electronic submission of certain reports to the FSA11

SUP 16.7.6AR

11A firm which is required by this section to submit an RMAR or an MLAR must provide the relevant data specified in SUP 16 Annex 18AR or SUP 16 Ann 19AR respectively by electronic means made available by the FSA.

SUP 16.7.6CR

11Where reference is made in SUP 16.7 to adequate information relating to:

13
  1. (1)

    a personal investment firm; or13

    13
  2. (2)

    the following activities:

    13
    1. (a)

      insurance mediation activity: or13

    2. (b)

      home finance mediation activity;27 or13

      27
    3. (c)

      retail investment activity;13

this includes all sections of the RMAR in addition to those relating to financial reports, except where otherwise indicated.

SUP 16.7.6DG

11The RMAR comprises sections relating both to financial reporting and other sections (e.g. Training and Competence and COBS36 data).

36
SUP 16.7.6EG

11Where SUP 16.7 requires a report containing adequate information on one or more of the following activities:

  1. (1)

    insurance mediation activity;

  2. (2)

    home finance mediation activity;27

    27
  3. (3)

    home finance providing activity;27

    27
  4. (4)

    administering a home finance transaction;27

    27
  5. (5)

    retail investment activity;

a firm should submit a report only if it carries on at least one of those activities.

Banks2835

SUP 16.7.7R

A UK bank must submit reports in accordance with SUP 16.7.8 R and SUP 16.7.8A R25.

35
SUP 16.7.8R

Reports from a UK bank (see SUP 16.7.7 R)1735

1212

Content of Report

Form or Return17

(Note 1)

Frequency

Due date

Annual report and audited accounts

N/A

Annually

3 months after the firm's accounting reference date

Adequate information on capital adequacy (Unconsolidated, solo consolidated)

BSD3

Quarterly

10 business days after quarter end Note 6 (12 business days if submitted electronically)

Adequate information on capital adequacy (Consolidated)

BSD3 (Note 2)1

Half yearly

20 business days after period end (22 business days if submitted electronically)

Analysis of large exposures (Unconsolidated, solo consolidated)

LE2 or LE3 (Note 7)

Quarterly

10 business days after quarter end (Note 6) (14 business days if LE3 submitted electronically)

Analysis of large exposures (Consolidated)

LE2 or LE3 (Note 2) (Note 7)1

Quarterly

20 business days after quarter end (Note 6) (24 business days if LE3 submitted electronically)

Analysis of significant transactions (other than those resulting in large exposures) with the mixed-activity holding company and its subsidiaries12

LE2 or LE312(Note 8)12

Quarterly12

20 business days after quarter end (Note 6) (24 business days if LE3 is submitted electronically)12

Adequate information on holdings of credit and financial institutions' and non-financial companies' capital instruments (Unconsolidated, solo consolidated)

M1 (Note 3)1

Quarterly

10 business days after quarter end (Note 6) (12 business days if submitted electronically)

Adequate information on holdings of credit and financial institutions' and non-financial companies' capital instruments (Consolidated)

M1 (Note 2 & Note 3)1

Half yearly

20 business days after period end (22 business days if submitted electronically)

Adequate information on sterling stock liquidity

SLR1 (Note 4)1

Monthly (Note 5)1

6 business days after second Wednesday of the month

Adequate information on mismatch liquidity

LR (Note 4)1

Quarterly

10 business days after quarter end (Note 6) (12 business days if submitted electronically)

List of companies included in the bank's consolidated large exposure reporting

N/A

Annually

6 months after the firm's accounting reference date

Annual confirmation that all companies included in solo consolidation meet the criteria for such consolidation as set out in IPRU(BANK) CS 9.2

N/A

Annually

6 months after the firm's accounting reference date1186

Adequate information relating to the following activities:

(1) insurance mediation activity;

(2) home finance mediation activity;27

(3) retail investment activity.

27

RMAR (excluding sections A, B, C, D, E, F and J31)

38

Half yearly

30 business days after period end

17Adequate information relating to home finance providing activity and administering a home finance transaction.27

27

MLAR (excluding A1, A2, B1 and C and J)31

Quarterly

20 business days after quarter end

Note 1 = When giving the report required, a bank must use the form or return 17indicated, if any. The content of the form has the status of guidance on the type of information that should be provided to meet the reporting obligation. A copy of the form is located in SUP 16 Annex 1 R.The RMAR and MLAR are located at SUP 16 Annex 18A and SUP 16 Annex 19A respectively and have the status of rules.17

Note 2 = The requirement to submit consolidated reports applies only to a bank which calculates its capital requirements on a consolidated basis. See IPRU(BANK) GN 3.3.13R(2) and IPRU(BANK) CS 4.

All consolidated reports required on a half yearly basis must be prepared as at the end of June and December of each year.1

Note 3 = This report is only required from a bank which reports either on a solo or consolidated basis and:1

(i)

has been granted a trading book concession as explained in IPRU(BANK) CA 3; or

(ii)

has qualifying holdings in non-financial companies as explained in IPRU(BANK) CA 10.4.

Note 4 = A bank is not required to submit both the SLR1 and LR.

A bank which monitors its liquidity according to the maturity mismatch approach as set out in IPRU(BANK) LM must submit the LR.

A bank which monitors its liquidity according to the sterling stock liquidity approach as set out in IPRU(BANK) LS must submit the SLR1.

Note 5 = This report must be prepared as at the second Wednesday of each month. See IPRU(BANK) LS 5.2 (2) regarding submission of an SLR1 on breach of various limits.

Note 6 = Reports required on a quarterly basis must be prepared as at the end of March, June, September and December of each year, except that a bank, which submits the BT report to the Bank of England monthly, must prepare the Form LR (Adequate information on mismatch liquidity) as at the end of February, May, August and November each year.1

Note 7 = For quarter ends between December 2003 and June 2004, a bank must either use Form LE2 or Form LE3 except that, once a bank has used Form LE3, it must not subsequently use Form LE2. For quarter ends in or after September 2004, a bank must use Form LE3.

Note 8 = A bank must add the required information to the relevant large exposures reporting form (LE2 or LE3). For the purposes of this reporting requirement, a transaction will be presumed to be significant if its amount exceeds 5% of the total amount of capital adequacy requirements at the level of the group.12

SUP 16.7.8AR

25Financial reports from a UK bank35

25Content of report

Form

Frequency

Due date

Key data (see note 1)

FSA009 (Note 2)

As for BSD3 under SUP 16.7.8 R

As for BSD3 under SUP 16.7.8 R

Non-EEA sub-group (Note 3)

FSA028 (Note 2)

Half yearly

30 business days after period end

Note 1 A UK bank that calculates its capital requirements on a consolidated basis (see IPRU(BANK) GN 3.3.13R(2) and IPRU(BANK) CS 4) must also complete this return on a consolidated basis.

Note 2 Reports beginning FSA*** are contained within SUP 16 Annex 24R

Note 3 This will be applicable to firms that report 'yes' in data element 16A in FSA009 on the reporting date. Firms' attention is drawn to SUP 16.3.25 G regarding a single submission for all firms in the group.

35
SUP 16.7.9R

An EEA Bank, other than one with permission for cross border services only, must submit reports in accordance with SUP 16.7.10 R.351

SUP 16.7.10R

Reports from an EEA Bank (see SUP 16.7.9 R)17

Content of Report

Form or Return17

(Note1)17

Frequency

Due date

Adequate information on mismatch liquidity(excluding deposit concentration)

LR - (excluding Part 5)

Quarterly

10 business days after quarter end (12 business days if submitted electronically). The report must be prepared as at the dates set out in Note 6 to 13111SUP 16.7.8 R.

17Adequate information relating to the following activities:

(1) insurance mediation activity;

(2)home finance mediation activity;27

(3) retail investment activity.

27

RMAR (excluding A, B, C, D, E, F and J31)

38

Half yearly

30 business days after period end

17Adequate information relating to home finance providing activity and administering a home finance transaction27

27

MLAR (excluding A1, A2, B1, C and J)31

Quarterly

20 business days after quarter end

Note 117= When giving the report required, a bank must use the form or return17 indicated, if any17. The content of the form has the status of guidance on the type of information that should be provided to meet the reporting obligation. A copy of the form is located in SUP 16 Annex 1 R.The RMAR and MLAR are located at SUP 16 Annex 18A and SUP 16 Annex 19A respectively and have the status of rules.1735

SUP 16.7.11R

A bank established outside the EEA must submit reports in accordance with SUP 16.7.12 R.35

SUP 16.7.12R

Reports from a bank established outside the EEA (see SUP 16.7.11 R) 1735

11

Content of Report

1Form or Return17(Note117)

Frequency

Due date

Analysis of profits, large exposures, balance sheet, off balance sheet items and bad and doubtful debt provisions

B7

Half yearly

10 business days after period end (12 business days if submitted electronically). Period ends are end of June and December each year1.

Adequate information on mismatch liquidity

LR

Quarterly

10 business days after quarter end (12 business days if submitted electronically). The report must be prepared as at the dates set out in Note 6 to 1SUP 16.7.8 R.

Annual report and audited accounts, in English

N/A

Annually

9 months after the firm's accounting reference date131110

17Adequate information relating to the following activities:

(1) insurance mediation activity;

(2) home finance mediation activity;27

(3) retail investment activity.

27

RMAR (excluding A, B C, D, E, F and J31)

38

Half yearly

For half yearly report: 30 business days after period end.

17Adequate information relating to home finance providing activity and administering a home finance transaction27

27

MLAR (excluding A1, A2, B1, C and34 J)31

Quarterly

20 business days after quarter end

Note 117= When giving the report required, a bank must use the form or return17 indicated, if any17. The content of the form has the status of guidance on the type of information that should be provided to meet the reporting obligation. A copy of the form is located in SUP 16 Annex 1R. The RMAR and MLAR are located at SUP 16 Annex 18A and SUP 16 Annex 19A respectively and have the status of rules.1735

Method of submission35

SUP 16.7.13R

A bank, other than an EEA bank with permission for cross-border services only, must submit the reports described in SUP 16.7.8 R, SUP 16.7.8A R,25 SUP 16.7.10 R and SUP 16.7.12 R to the following:

  1. (1)

    BSD3, LE3, LR, SLR1, B7 and M1 to: The Financial Statistics Division Domestic Banking Group (HO-4) Bank of England Threadneedle Street London EC2R 8AH;

  2. (2)

    FSA009 and FSA028 by electronic submission via the Early Reporting System available from or through the FSA's website;25

  3. (3)

    all other reports to the bank's usual supervisory contact at the address in SUP 16.3.10 G.25

The Bank of England acts only as the agent of the FSA with regard to reports in (1).35

SUP 16.7.14G

Guidance notes for the completion of the reports are contained in SUP 16 Annex 2.35

SUP 16.7.15R

A bank must submit the reports referred to in SUP 16.7.13 R(1) either:

  1. (1)

    on paper by post, or by hand delivery to the Bank of England on any business day between 9am and 5pm; or

  2. (2)

    in electronic format using the specifications for the Bank of England Reporting System and sent either:

    1. (a)

      by the AT&T Global Network to one of the addresses specified in the above specification;

    2. (b)

      by e-mail to mfsd_beers@bankofengland.co.uk20; or

      20
    3. (c)

      on computer diskette but to paper reporting deadlines by post, or by hand delivery to the Bank of England on any business day between 9am and 5pm.35106

Building societies35

SUP 16.7.16R

A building society must submit reports to the FSA in accordance with SUP 16.7.17 R and SUP 16.7.17A R.2535

SUP 16.7.17R

Reports from a building society (see SUP 16.7.16 R) 17

1125

Content of Report

Form or Return17

(Note 1)

Frequency

Due date

Analysis of interest rate risk gap (Note 4)

N/A

Monthly

15 after month end

Adequate information on balance sheet, income and expenditure, capital, lending quality, large exposures and maturities for the society and its subsidiary undertakings, together with relevant expected and likely out-turns

QFS1

Quarterly

18 after society's financial quarter end25

Adequate information on balance sheet, income and expenditure, the range and volume of activities undertaken by the society, its subsidiary undertakings, and where relevant, its participating interests

AFS1

Annually

2 months after society's accounting reference date.13115

17Adequate information relating to the following activities:

(1) insurance mediation activity;

(2) home finance mediation activity;27

(3) retail investment activity.

27

RMAR (excluding sections A, B, C, D, E, F and J31)

38

Half yearly

30 business days after period end.

17Adequate information relating to home finance providing activity and administering a home finance transaction.27

27

MLAR (excluding A1, A2, B1 and C and J)31

Quarterly

20 business days after quarter end

Note 1 = When giving the report required, a building society must use the form or return indicated, if any. The content of the form has the status of guidance on the type of information that should be provided to meet the reporting obligation. A copy of the form is located in SUP 16 Annex 3 for all reports (except the "Analysis of interest rate gap" for which no form is provided). The RMAR and MLAR are located at SUP 16 Annex 18A and SUP 16 Annex 19A respectively and have the status of rules.1725

Note 4 = All societies except those on the "Administered" approach (see IPRU(BSOC) 4 Ann 4A 4A.2) complete the "Analysis of interest rate risk gap". SUP 16.7.19 R does not apply to the "Analysis of interest rate risk gap".35

SUP 16.7.17AR

25Financial reports from a building society

25Content of report

Form

Frequency

Due date

Key data (see Note 1)

FSA009 (Note 2)

As for QFS1 under SUP 16.7.16 R

As for QFS1 under SUP 16.7.16 R

Note 1 A building society with subsidiary undertakings at the reporting date that are included within the Group figures on the QFS1 will have to submit one report on a society only basis and one on a Group basis.

Note 2 Reports beginning FSA*** are contained within SUP 16 Annex 2435

SUP 16.7.18G

Guidance notes for the completion of the reports are contained in SUP 16 Annex 4.35

Method of submission35

SUP 16.7.19R

A building society must submit:25

25
  1. (1)

    the reports in SUP 16.7.17 R (other than the "Analysis of interest rate risk gap") either:25

    1. (a)

      by means of the Remote Data Entry system supplied by the FSA (and previously by the Building Societies Commission); or, should this be inoperable,25

    2. (b)

      by post or fax to the address in SUP 16.3.10 G using:25

      1. (i)

        the corresponding forms available from the FSA's website; or25

      2. (ii)

        its own version of the FSA's specified forms, provided that version is equivalent in terms of content and layout; and25

  2. (2)

    FSA009 in SUP 16.7.17A R by electronic submission via the Early Reporting System available from or through the FSA's website.25

Notwithstanding a paper submission in accordance with (1)(b),25once the Remote Data Entry system is operable again, the reports must be submitted by its means.35

25

Service companies

SUP 16.7.20R

A service company must submit reports to the FSA in accordance with SUP 16.7.21 R.

SUP 16.7.21R

Reports required from service companies (see SUP 16.7.20 R) 17

Report

Frequency

Due date

Annual audited financial statements (Note 1)21

Annually

6 months after the firm's accounting reference date1311

21Note 1 = A firm need only submit this report to the FSA if the report was audited as a result of a statutory provision other than the Act.

22UK Insurance Special Purpose Vehicles

SUP 16.7.21AR

22A UK ISPV must submit reports to the FSA in accordance with SUP 16.7.21B R.

SUP 16.7.21BR

22Table financial reports required from UK Insurance Special Purpose Vehicles

22Report

Frequency

Due date

Annual report and accounts39

39

Annually

3 months after the firm's accounting reference date

Securities and futures firms

SUP 16.7.22R
  1. (1)

    SUP 16.7.23 R to SUP 16.7.30 R do not apply to a lead regulated firm.

  2. (2)

    A lead regulated firm must submit a copy of its audited annual financial statements to the FSA within six months of the date at which they were prepared.

SUP 16.7.23R

For the purposes of SUP 16.7.24 R to SUP 16.7.34 G, the definitions of the following firm types provided in the glossaries in IPRU(INV) 3 and 10 apply:

  1. (1)

    adviser;

  2. (2)

    arranger;

  3. (3)

    broad scope firm;

  4. (4)

    category A;

  5. (5)

    category B;

  6. (6)

    category C;

  7. (7)

    category D;

  8. (8)

    local; and

  9. (9)

    venture capital firm.

SUP 16.7.24R

A securities and futures firm which is a category A or B firm or a broad scope firm must submit reports to the FSA in accordance with SUP 16.7.25 R and SUP 16.7.25A R.25

SUP 16.7.25R

Reports required from a securities and futures firm which is a category A or B firm or a broad scope firm (see SUP 16.7.24 R) 17

Report

17Return

Frequency

Due date

Annual report and accounts39 (Note 5A)

39

Annually

3 months after the firm's accounting reference date393939

Consolidated supervision return12 (Note 2)

Half yearly

3 months after end of the relevant six-month period12

Large exposures quarterly reporting statement (Form LEM 1 or LEM 2) - consolidated (Notes 3 and 4)

Quarterly

15 business days after quarter end

Large exposures quarterly reporting statement (Form LEM 1 or LEM 2) - consolidated (Notes 2 and 4)

Quarterly

1 month after quarter end

(Only for CAD investment firms) Analysis of significant transactions (other than those resulting in large exposures) with the mixed-activity holding company and its subsidiaries (Note 5)12

Quarterly12

1 month after quarter end12

If the firm's ultimate parent is a mixed-activity holding company, the annual accounts of the mixed-activity holding company (Note 2)12

Annually12

As soon as available after year end12

Monthly reporting statement

Monthly

15 business days after month end

17Adequate information relating to the following activities:

(1) insurance mediation activity;

(2) home finance mediation activity;27

(3) retail investment activity.

27

RMAR (excluding sections A, B, C, D, E, F and J31) (Note 6)

38

Half yearly

For half yearly report: 30 business days after period end

17Adequate information relating to home finance providing activity and administering a home finance transaction27

27

MLAR (excluding A1, A2 and B1 and J) (Note 6)31

Quarterly

20 business days after quarter end

Note 1 [deleted]39

39

Note 2 = Only for category A and B firms which are subject to the consolidation rules set out in IPRU(INV) Chapter 14.12.

Note 3 = Only for category A and B firms.

Note 4 = A firm which was required to submit Form LEM1 in the relevant period immediately prior to the commencement must continue to do so.

A firm which was required to submit Form LEM2 in the relevant period immediately prior to the commencement must continue to do so. A category A or B firm authorised after the commencement must submit Form LEM1.

Note 5 = Securities and futures firms that are CAD investment firms must add the required information to the large exposures reporting form (QFS1). For the purposes of this reporting requirement, a transaction will be presumed to be significant if its amount exceeds 5% of the total amount of capital adequacy requirements at the level of the group.12

Note 5A = A firm need only submit this report to the FSA if the report was audited as a result of a statutory provision other than the Act.21

Note 6 = When giving the report required, a firm must use the return indicated. The RMAR and MLAR are located at SUP 16 Annex 18A and SUP 16 Annex 19A respectively and have the status of rules.

SUP 16.7.25AR

25Financial reports from a securities and futures firm which is a category A or B firm or a broad scope firm

25Content of report

Form

Frequency

Due date

Key data

FSA009 (Note 1)

Monthly, in line with Monthly reporting statement in SUP 16.7.25 R

As for Monthly reporting statement in SUP 16.7.25 R

Key data (Consolidated) (Note 2)

FSA009 (Note 1)

Half yearly, in line with Consolidated supervision return in SUP 16.7.25 R

As for Consolidated supervision return in SUP 16.7.25 R

Non- EEA sub-group (Note 3)

FSA028 (Note 1)

Half yearly

30 business days after period end

Note 1 Reports beginning FSA*** are contained within SUP 16 Annex 2425

Note 2 Only for category A and B firms which are subject to the consolidation rules set out in IPRU(INV) Chapter 14. These firms must complete an FSA009 setting out the consolidated position in addition to a non-consolidated version.25

Note 3 This will be applicable to firms that report 'yes' in data element 16A in FSA009 on the reporting date. Firms' attention is drawn to SUP 16.3.25 G regarding a single submission for all firms in the group.2535

SUP 16.7.26R

A securities and futures firm which is a category C or D firm or an arranger or venture capital firm 131211or an exempt CAD firm35 must submit reports to the FSA in accordance with SUP 16.7.27 R and, in the case of a securities and futures firm which is an ISD investment firm, SUP 16.7.27A R.253035

SUP 16.7.27R

Reports from a securities and futures firm which is a category C or D firm or an arranger or venture capital firm (see SUP 16.7.26 R17

Report

17Return

Frequency

Due Date393939

Audited accounts of any subsidiary, unless the rules in this chapter require that subsidiary to submit accounts to the FSA

Annually

3 months after the firm's accounting reference date

Consolidated supervision return12reporting statement12 (Note 2)

Half yearly

1 month from period end12 3 months after end of relevant six-month period12

Large exposures quarterly reporting statement (Form LEM 1 or LEM 2) - solo (Notes 2 and 4)

Quarterly

15 business days after quarter end

Large exposures quarterly reporting (Form LEM 1 or LEM 2) - consolidated (Notes 2 and 4)

Quarterly

1 month after quarter end

(Only for CAD investment firms) Analysis of significant transactions (other than those resulting in large exposures) with the mixed-activity holding company and its subsidiaries (Note 5)12

Quarterly12

1 month after quarter end12

If the firm's ultimate parent is a mixed-activity holding company, the annual accounts of the mixed-activity holding company (Note 2)12

Annually12

As soon as available after year end12

Quarterly reporting statement

Quarterly

15 business days after quarter end

17Adequate information relating to the following activities:

(1) insurance mediation activity;

(2) home finance mediation activity;27

(3) retail investment activity.

27

RMAR (excluding sections A, B, C, D, E, F and J31) (Note 6)

38

Half yearly

For half yearly report: 30 business days after period end

17Adequate information relating to home finance providing activity and administering a home finance transaction27

27

MLAR (excluding A1, A2 and B1 and J) (Note 6)31

Quarterly

20 business days after quarter end

Note 1 [deleted]39

39

Note 2 = Only for category C firms (as defined in the glossaries located in IPRU(INV) 10), which are subject to the consolidation rules set out in IPRU(INV) Chapter 14.12 10-200R - 10-203R, and are not exempt from the consolidation rules under IPRU(INV) 10-200R(2) or IPRU(INV) 10-204R.12

Note 3 = Only for category C firms (as defined in the glossaries located inIPRU(INV)10).

Note 4 = A firm which was required to submit Form LEM1 in the relevant period immediately prior to commencement must continue to do so.

A firm which was required to submit Form LEM2 in the relevant period immediately prior to commencement must continue to do so.

A category C firm authorised after commencement must submit the Form LEM1.

Note 5 = Securities and futures firms that are CAD investment firms must add the required information to the large exposures reporting form (QFS1). For the purposes of this reporting requirement, a transaction will be presumed to be significant if its amount exceeds 5% of the total amount of capital adequacy requirements at the level of the group.12

Note 6 = When giving the report required, a firm must use the return indicated. The RMAR and MLAR are located at SUP 16 Annex 18A and SUP 16 Annex 19A respectively and have the status of rules.

SUP 16.7.27AR

25Financial reports from a securities and futures firm which is an ISD investment firm

25Content of report

Form

Frequency

Due date

Key data

FSA009 (Note 1)

Quarterly in line with Quarterly reporting statements in SUP 16.7.27 R

As for Quarterly reporting statements in SUP 16.7.27 R

Key data (Consolidated) (Note 2)

FSA009 (Note 1)

Half yearly, in line with Consolidated Supervision Return in SUP 16.7.27 R

As for Consolidated Supervision Return in SUP 16.7.27 R

Non- EEA sub-group (Note 3)

FSA028 (Note 1)

Half yearly

30 business days after period end

Note 1 Reports beginning FSA*** are contained within SUP 16 Annex 24.2530

Note 2 Only for category C firms which are subject to the consolidation rules set out in IPRU(INV) Chapter 14. These firms must complete an FSA009 setting out the consolidated position in addition to a non-consolidated version.25

Note 3 This will be applicable to firms that report 'yes' in data element 16A in FSA009 on the reporting date. Firms' attention is drawn to SUP 16.3.25 G regarding a single submission for all firms in the group.2535

SUP 16.7.27BR

[deleted]3035

SUP 16.7.28R

A securities and futures firm which is an adviser or local, or a traded options market maker (as referred to in IPRU(INV) 3-60R (4)) must submit reports to the FSA in accordance with SUP 16.7.29 R.

SUP 16.7.29R

Reports from a securities and futures firm which is an adviser, local or a traded options market maker (see SUP 16.7.28 R)17

Report

Return17

Frequency

Due date

Solvency statement (sole traders only)

Annually

2 months after the firm's accounting reference date

Annual report and accounts39 (partnerships and bodies corporate only)

39

Annually

2 months after the firm's accounting reference date3939

17Adequate information relating to the following activities:

(1) insurance mediation activity;

(2) home finance mediation activity;27

(3) retail investment activity.

27

RMAR (excluding sections A, B, C, D, E, F and J31) (Note 2)21

38

Half yearly

For half yearly report: 30 business days after period end

17Adequate information relating to home finance providing activity and administering a home finance transaction.27

27

MLAR (excluding A1, A2 and B1 and J) (Note 2)2131

21

Quarterly

20 business days after quarter end

Note 1 = A firm need only submit this report to the FSA if the report was audited as a result of a statutory provision other than the Act21

Note 2= When giving the report required, a firm must use the return indicated. The RMAR and MLAR are located at SUP 16 Annex 18A and SUP 16 Annex 19A respectively and have the status of rules. 1721

SUP 16.7.30R
  1. (1)

    A securities and futures firm which is an ISD investment firm, and which is a sole trader, or a partnership formed under the laws of England and Wales, must submit a solvency statement for the sole trader or each partner to the FSA every year.

  2. (2)

    The due date for the submission of the solvency statement is three months after the firm's accounting reference date.

SUP 16.7.31R

A securities and futures firm must submit:25

122512
  1. (1)

    the reports in SUP 16.7.25 R and SUP 16.7.27 R in accordance with, and in the same format as:

    12
    1. (a)

      the forms contained in SUP 16 Annex 10, and as required by section 6 of that annex;25

    2. (b)

      the form contained in SUP 16 Annex 20, and having regard to SUP 16 Annex 21; and25

  2. (2)

    the reports in SUP 16.7.25A R,30 SUP 16.7.27A R and SUP 16.7.27B R30 in accordance with and in the same format as the data items contained in SUP 16 Annex 24, and having regard to SUP 16 Annex 25.25

    1230
SUP 16.7.32G

Guidance notes for the completion of the reports and data items25 are contained in SUP 16 Annex 11 and SUP 16 Annex 25 respectively.25

SUP 16.7.33R
  1. (1)

    Any report in SUP 16.7.23 R to SUP 16.7.30 R submitted to the FSA by a securities and futures firm must be signed by two authorised signatories satisfying the requirements of SUP 16.7.33 R(2), except for:

    1. (a)

      [deleted]39

      3914
    2. (aa)

      reports in accordance with SUP 16 Annex 18A or SUP 16 Annex 19A;

      39
    3. (b)

      other reports where the firm is a sole trader, when only one authorised signatory is required; and14

    4. (c)

      reports submitted in accordance with (3),30 (5)25 and (6)30.14

      30
  2. (2)

    An authorised signatory must be:

    1. (a)

      for a body corporate, a director;5

    2. (b)

      for a partnership, a partner who is an approved person of the firm;5

    3. (c)

      for a sole trader, the proprietor.

  3. (3)

    A firm must use the FiRSt 5.0 software package made available to firms by the FSA (and previously by the SFA) to submit the following reports:

    1. (a)

      [deleted]39

      39
    2. (b)

      monthly reporting statement;

    3. (c)

      quarterly reporting statement; and

    4. (d)

      consolidated reporting statement.

  4. (4)

    Reports in (3) must be submitted to the FSA in accordance with the methods permitted by FiRSt 5 software. All other reports in SUP 16.7.24 R to SUP 16.7.30 R (apart from those in (5) and (6)30)25 must be sent to the address given in SUP 16.3.10 G.1311

    14
  5. (5)

    Reports in SUP 16.7.25A R and SUP 16.7.27A R must be submitted electronically via the Early Reporting System available from or through the FSA's website in the same format as set out in SUP 16 Annex 24, having regard to SUP 16 Annex 25.25

  6. (6)

    Reports in SUP 16.7.27B R must be submitted electronically via the system available from or through the FSA's website in the same format as set out in SUP 16 Annex 24, having regard to SUP 16 Annex 25.30

SUP 16.7.34G

[Deleted]37

37

Investment management firms

SUP 16.7.35R

An investment management firm which is not one of the types of firm specified in SUP 16.7.37 R must submit reports to the FSA in accordance with SUP 16.7.36 R and, in the case of an investment management firm that is an ISD firm as defined in IPRU(INV) 5, SUP 16.7.36A R.25An investment management firm that is an exempt CAD firm must also submit reports to the FSA in accordance with SUP 16.7.36B R.30

131211952
SUP 16.7.36R

Reports from an investment management firm (see SUP 16.7.35 R)17

Report

17Return

Frequency

Due date39

(Only for CAD investment firms) Analysis of significant transactions (other than those resulting in large exposures) with the mixed-activity holding company and its subsidiaries. (Note 6)12

Annually12

4 months after the firm's accounting reference date12

Consolidated supervision return (only for firms subject to IPRU(INV) Chapter 14)12

Half-yearly12

4 months after end of relevant six-month period12

If the firm's ultimate parent is a mixed-activity holding company, the annual accounts of the mixed-activity holding company12

Annually12

As soon as available after year end12

Annual accounts (Note 1)

Annually

4 months after the firm's accounting reference date

Annual solvency statement (only for individuals in partnership) (Note 2)

Annually

At the same time as the Annual Financial Return

Quarterly Financial Return (only for firms subject to a Liquid Capital Requirement as set out in IPRU(INV) 5.2.3 (1)(a) or (b))

Quarterly

1 month after quarter end

Monthly Financial Return (only for ISD firms (Note 3) subject to the Own Funds Requirement of Euro 730,000 as set out inIPRU(INV) 5.2.3(1)(b)) (Note 4)

Monthly

1 month after month end

Consolidated financial resources return (only for firms subject to IPRU(INV) 5.7.1(1)R)

Half yearly

4 months after end of six-month period

If the firm's ultimate parent is a mixed-activity holding company, the annual accounts of the mixed-activity holding company (Note 5)

Yearly

As soon as available after year-end

17Adequate information relating to the following activities:

(1) insurance mediation activity;

(2) home finance mediation activity;27

(3) retail investment activity.

27

RMAR (excluding sections A, B, C, D, E, F and J31) (Note 7)

38

Half yearly

For half yearly report: 30 business days after period end

17Adequate information relating to home finance providing activity and administering a home finance transaction.27

27

MLAR (excluding A1, A2 and B1 and J) (Note 7)31

Quarterly

20 business days after quarter end

Note 1: The annual report and39accounts of a firm must give a true and fair view of the state of affairs of the firm (or in the case of a sole trader, of his regulated activities) and of the firm's profit or loss

3939

Note 2: The annual solvency statement is a statement from each partner in the following form: "I certify that I have sufficient assets to cover my personal liabilities."

Note 3: The definition of ISD firm for this purpose is provided in the glossary located inIPRU(INV)5.

Note 4: A firm need not prepare a Monthly Financial Return as at the same date as a Quarterly Financial Return. A firm must therefore prepare eight Monthly and four Quarterly Financial Returns each year. One Quarterly Financial Return must be prepared to the same date as the Annual Financial Return (but submitted earlier). Monthly and Quarterly Financial Returns are not cumulative, and must relate only to the period concerned. A firm may need to prepare more frequent accounts, including financial resources statements, for its own internal use to ensure that it complies at all times with the rules in IPRU(INV).

Note 5: Mixed-activity holding company means a parent, other than a financial holding company (as defined in IPRU(INV) Chapter 5 Glossary), an investment firm or a credit institution, the subsidiaries of which include at least one investment firm or credit institution.

Note 6 :39Investment management firms that are CAD investment firms must add the required information to their large exposure reporting in quarterly financial returns prepared at the firms' accounting reference date. 39. For the purposes of this reporting requirement, a transaction will be presumed to be significant if its amount exceeds 5% of the total amount of capital adequacy requirements at the level of the group.12

3939

Note 7 = When giving the report required, a firm must use the return indicated. The RMAR and MLAR are located at SUP 16 Annex 18A and SUP 16 Annex 19A respectively and have the status of rules.

SUP 16.7.36AR

25Financial reports from an investment management firm that is an ISD firm, as defined in IPRU(INV) 5

25Content of report

Form

Frequency

Due date

Key data

FSA009 (Note 1)

In line with Quarterly or Monthly Financial Returns applicable to the firm in SUP 16.7.36 R

As for Quarterly or Monthly Financial Returns applicable to the firm in SUP 16.7.36 R

Key data (Consolidated) (Note 2)

FSA009 (Note 1)

Half yearly in line with Consolidated Supervision Return applicable to the firm in SUP 16.7.36 R

As for Consolidated Supervision Return applicable to the firm in SUP 16.7.36 R

Key data (Consolidated) (Note 3)

FSA009 (Note 1)

Half yearly in line with Consolidated Financial Resources Return applicable to the firm in SUP 16.7.36 R

As for Consolidated Financial Resources Return applicable to the firm in SUP 16.7.36 R

Non- EEA sub-group (Note 4)

FSA028 (Note 1)

Half yearly

30 business days after period end

Note 1 Reports beginning FSA*** are contained within SUP 16 Annex 2425

Note 2 Only for firms subject to IPRU(INV) Chapter 14. These firms must complete an FSA009 setting out the consolidated position in addition to a non-consolidated version. 25

Note 3 Only for firms subject to IPRU(INV) 5.7.1(1) R. These firms must complete an FSA009 setting out the consolidated position in addition to a non-consolidated version. 25

Note 4 This will be applicable to firms that report 'yes' in data element 16A in FSA009 on the reporting date. Firms' attention is drawn to SUP 16.3.25 G regarding a single submission for all firms in the group.2535

SUP 16.7.36BR

30Table financial reports from an investment management firm which is an exempt CAD firm

Content of report

Form

Frequency

Due date

Key data

FSA043 (note 1)

In line with Quarterly Financial Return and Annual Financial Return applicable to the firm in SUP 16.7.36 R.

As for Quarterly Financial Return and Annual Financial Return applicable to the firm in SUP 16.7.36 R.

Note 1

Reports beginning FSA*** are contained within SUP 16 Annex 24.

SUP 16.7.37R

SUP 16.7.36 R does not apply to an investment management firm which is:

  1. (1)

    a lead regulated firm or an OPS firm (but if a firm falls into either of these categories, then it must submit a copy of its annual accounts in accordance with SUP 16.7.36 R);

  2. (2)

    a local authority.

SUP 16.7.38R

An investment management firm must submit the reports in:1225

12129
  1. (1)

    SUP 16.7.36 R in accordance with, and in the same format as:25

    25
    1. (a)

      the forms contained in SUP 16 Annex 5, and as required by section 4 of that annex; and25

    2. (b)

      the forms contained in SUP 16 Annex 20 R, and having regard to SUP 16 Annex 21 G; and25

  2. (2)

    SUP 16.7.28A R in accordance with the format set out in SUP 16 Annex 24 and electronically via the Early Reporting System available from or through the FSA's website.25

    25
  3. (3)

    SUP 16.7.36B R in accordance with the format set out in SUP 16 Annex 24 and electronically via the system available from or through the FSA's website.30

SUP 16.7.39G
  1. (1)

    [Deleted]37

    37
  2. (2)

    Notes giving guidance on the completion of the consolidated financial resources return are contained in SUP 16 Ann 17. The guidance in SUP 16.3.25 G (Reports from groups) is also relevant.

Reporting periods

SUP 16.7.40R

The period covered by:

  1. (1)

    monthly financial returns may not exceed one month;

  2. (2)

    quarterly financial returns may not exceed three months; and

  3. (3)

    annual financial returns may not exceed twelve months.

Timely reporting

SUP 16.7.41R

An investment management firm must notify the FSA in writing as soon as it has reason to believe it will be unable to submit an annual, quarterly or monthly financial return by the dates specified in SUP 16.7.36 R. Such notice must specify why it cannot submit the report to the FSA on time and give the date by which it will submit the report to the FSA.

11
SUP 16.7.42G

[deleted]11

11
SUP 16.7.43R

[deleted]11

11
SUP 16.7.44R

[deleted]11

11
SUP 16.7.45R

[deleted]11

SUP 16.7.46R

[deleted]11

11
SUP 16.7.47R

[deleted]11

SUP 16.7.48R

[deleted]11

11
SUP 16.7.49R

[deleted]11

SUP 16.7.50R

[deleted]11

11
SUP 16.7.51R

[deleted]11

SUP 16.7.52G

[deleted]11

1112
SUP 16.7.53G

[deleted]11

11

Authorised professional firms

SUP 16.7.54R
  1. (1)

    An authorised professional firm must submit an annual questionnaire, 14contained in SUP 16 Annex 9, unless:

    11
    1. (a)

      its only regulated activities are one or more of:13

      1. (i)

        insurance mediation;13

      2. (ii)

        home finance mediation;27

        1327
      3. (iii)

        retail investment;13

      4. (iv)

        home finance providing activity;27

        1327
      5. (v)

        administering a home finance transaction; or27

        1327
    2. (b)

      its "main business" as determined by IPRU(INV) 2.1.2 R (3) is advising on, or arranging deals in, packaged products, or managing investments for private customers;13

    in which case the authorised professional firm must complete the appropriate report specified in SUP 16.7.54A R.14

  2. (2)

    The due date for submission of the annual questionnaire is four months after the firm's accounting reference date.

  3. (3)

    An authorised professional firm must also, where applicable, submit a report to the FSA in accordance with SUP 16.7.54A R.11

SUP 16.7.54AR

Reports from an authorised professional firm (see SUP 16.7.54 R)11

11

11Report

Return

(Note 1)

Frequency

Due date

Adequate information relating to the following activities:11

RMAR (Note 3)11

Half yearly (quarterly for sections A to E for larger firms, subject to Note 3 exemptions)11

(Note 2)11

For half yearly report: 30 business days after period end11

For quarterly report: 30 business days after quarter end11

(1)11

insurance mediation activity;11

(2)11

home finance mediation activity;27

1127

(3)11

retail investment activity.11

(4)13

advising on, or arranging deals in, packaged products, or managing investments for private customers where these activities are the authorised professional firm's "main business" as determined by IPRU(INV) 2.1.2 R (3)13

Adequate information relating to home finance providing activity and administering a home finance transaction.27

1127

MLAR11

Quarterly11

20 business days after quarter end11

Note 1 = When giving the report required, a firm must use the return indicated. The RMAR and MLAR are located at SUP 16 Annex 18A and SUP 16 Ann 19A respectively and have the status of rules.11

Note 2 = For the purposes of RMAR reporting, a larger firm is a firm whose annual regulated business revenue in its previous financial year was greater than £5m. Annual regulated business revenue for these purposes is a firm's total revenue relating to insurance mediation activity, home finance mediation activity27 and retail investment activity.11

27

Note 3 = A firm which submits an MLAR is not required to submit sections A and B of the RMAR.11

Society of Lloyd's and members' advisers

SUP 16.7.55R

The Society of Lloyd's must submit reports to the FSA in accordance with SUP 16.7.56 R.

SUP 16.7.56R

Financial reports from the Society of Lloyd's (see SUP 16.7.55 R)

Report

Frequency

Due date

Annual audited accounts

Annually

6 months after the Society's accounting reference date

Annual Lloyd's Return

Annually

6 months after the Society's accounting reference date5

Syndicate returns

Annually

6 months after the Society's accounting reference date

SUP 16.7.57R

A members' adviser must submit reports to the FSA in accordance with SUP 16.7.58 R.

SUP 16.7.58R

Reports from a members' adviser (see SUP 16.7.57 R)17

Report

17Return (Note 1)

Frequency

Due date

Audited annual financial statements

Annually

3 months after the firm's accounting reference date393939

Quarterly reporting statement

Quarterly

15 business days after quarter end

17Adequate information relating to the following activities:

(1) insurance mediation activity;

(2) home finance mediation activity;27

(3) retail investment activity.

27

RMAR (excluding A, B C, D, E, F and J31)

38

Half yearly

For half yearly report: 30 business days after period end

17Adequate information relating to home finance providing activity and administering a home finance transaction.27

27

MLAR (excluding A1, A2, B1, C and34 J)31

Quarterly

20 business days after quarter end

17Note 1 = When giving the report required, a firm must use the return indicated. The RMAR and MLAR are located at SUP 16 Annex 18A and SUP 16 Annex 19A respectively and have the status of rules.

SUP 16.7.59R
  1. (1)

    The Society of Lloyd's must prepare its reports in the format specified in IPRU(INS) 926, unless (2) applies.

    26
  2. (2)

    The Society must ensure that the annual syndicate returns are prepared in accordance with, and in the format set out in, Lloyd's Syndicate Accounting Byelaw (No. 18 of 1994) as amended and in force at commencement.

  3. (3)

    A members' adviser must prepare its reports in accordance with, and in the format set out in, SUP 16 Annex 10 and as required by section 6 of that annex.

SUP 16.7.60G

Guidance notes for the completion of the reports required from a members' adviser are contained in SUP 16 Annex 11.

SUP 16.7.61G

The nature of the advisory business of a members' adviser whose permission is restricted to advising on syndicate participation at Lloyd's is akin to giving corporate finance advice, and the requirements are those applicable to firms giving corporate finance advice.

Credit Unions35

SUP 16.7.62R

A credit union must submit reports to the FSA in accordance with, and in the same format as, the forms contained in SUP 16 Annex 14, as set out in SUP 16.7.63 R.3543

SUP 16.7.63R

Reports required from a credit union (see SUP 16.7.62 R)173

Content of report

Form or Return17

Frequency

Due date

Key financial data

CQ

Quarterly

One month after quarter end

Extended financial data

CY

Annually

Seven months after the financial year end13114

17Adequate information relating to the following activities:

(1) insurance mediation activity;

(2) home finance mediation activity;27

(3) retail investment activity.

RMAR (excluding sections A, B, C, D E, F and J31) (Note 1)

38

Half yearly

For half yearly report: 30 business days after period end

17Adequate information relating to home finance providing activity and administering a home finance transaction.27

27

MLAR (excluding A1, A2, B1 and C and J) (Note 1)31

Quarterly

20 business days after quarter end

17Note 1 = When giving the report required, a firm must use the return indicated. The RMAR and MLAR are located at SUP 16 Annex 18A and SUP 16 Annex 19A respectively and have the status of rules. 35

SUP 16.7.63AG

17Notes for the completion of the reports are contained in SUP 16 Annex 15, SUP 16 Annex 18B and SUP 16 Annex 19B17.3513114

17
SUP 16.7.63BR

The annual report required from a credit union by SUP 16.7.62 R and SUP 16.7.63 R must be made up for the same period as the audited accounts published by the credit union in accordance with section 3A of the Friendly and Industrial and Provident Societies Act 1968 (See CRED 14 Annex 1).354

SUP 16.7.63CG

CRED 14.10.10 R (2)(a) states that the audited accounts referred to in SUP 16.7.63B R are to be made up for the period beginning with the date of the credit union's registration or with the date to which the credit union's last annual accounts were made up, whichever is the later, and ending on the credit union's most recent financial year end.354

Electronic money institutions

SUP 16.7.64R
  1. (1)

    SUP 16.7.65 R and SUP 16.7.66 R do not apply to a lead regulated firm.

  2. (2)

    A lead regulated firm must submit a copy of its audited annual financial statements to the FSA within six months of the date at which they were prepared.

SUP 16.7.65R

An ELMI must submit reports in accordance with SUP 16.7.66 R

SUP 16.7.66R

1717Reports from an ELMI (see SUP 16.7.65 R)

111111111111111111

Content of Report

Form

or Return 17

(Note 1)

Frequency

Due Date

Annual report and audited accounts

N/A

Annually

3 months after the firm's accounting reference date

Unconsolidated reporting statement on capital adequacy

ELM-CA/LE

Half-yearly

20 business days after period end (22 business days if submitted electronically)

Consolidated reporting statement on capital adequacy

ELM-CA/LE

Half-yearly

20 business days after period end (22 business days if submitted electronically)

Consolidated reporting statement on capital adequacy in the case of ELM 7.3.2 R

FSA009 (note 3)28

28

Half-yearly

22 business days if submitted electronically

2828

Unconsolidated large exposures reporting statement

ELM-CA/LE

Half-yearly

20 business days after period end (22 business days if submitted electronically)

Consolidated large exposures reporting statement

ELM-CA/LE

Half-yearly

20 business days after period end (22 business days if submitted electronically)

Analysis of significant transactions (other than those resulting in large exposures) with the mixed-activity holding company and its subsidiaries12

ELM-CA/LE (Note 2)12

Half-yearly12

20 business days after period end (22 business days if submitted electronically)12

List of companies included in the ELMI's consolidated large exposure reporting

N/A

Annually

6 months after the firm's accounting reference date1311

17Adequate information relating to the following activities:

(1) insurance mediation activity;

(2) home finance mediation activity;27

(3) retail investment activity.

27

RMAR (excluding sections A, B, C, D, E, F and J31)

38

Half yearly

30 business days after period end

17Adequate information relating to home finance providing activity and administering a home finance transaction27

27

MLAR (excluding A1, A2, B1 and C and J)31

Quarterly

20 business days after quarter end

Note 1 = When giving the report required, an ELMI must use the form or return 17indicated (if any). A copy of ELM-CA/LE is28set out in SUP 16 Annex 1 and FSA009 in SUP 16 Annex 2428.The RMAR and MLAR are located at SUP 16 Annex 18A and SUP 16 Annex 19A respectively and have the status of rules.17

2828

Note 2 = ELMIs must add the required information to the large exposures reporting form (QFS1). For the purposes of this reporting requirement, a transaction will be presumed to be significant if its amount exceeds 5% of the total amount of capital adequacy requirements at the level of the group.12

28Note 3 = FSA009 should be submitted by electronic submission via the Early Reporting System available from or through the FSA's website.

UCITS Management Companies35

SUP 16.7.67R

7A UCITS management company35 must submit reports to the FSA in accordance with SUP 16.7.68 R35 and, in the case of an UCITS investment firm, SUP 16.7.68A R.25A UCITS firm that is an exempt CAD firm must also submit reports to the FSA in accordance with SUP 16.7.68B R.30

SUP 16.7.68R

Financial reports from a UCITS management company (see SUP 16.7.67 R).35

32Report

Return

Frequency

Due date

Annual accounts (Note 1)

Annually

4 months after the firm's accounting reference date

Annual solvency statement (only for individuals in partnership) (Note 2)

Annually

At the same time as the Annual Financial Return

Quarterly Financial Return (Note 3)

Quarterly

1 month after quarter end

Consolidated supervision return (Only for UCITS investment firms

Half-yearly

4 months after end of relevant six-month period

If the firm's ultimate parent is a mixed-activity holding company, the annual accounts of the mixed-activity holding company (Only for UCITS investment firms)

Annually

As soon as available after year-end

32Adequate information relating to the following activities: (1) insurance mediation activity; (2) mortgage mediation activity; (3) retail investment activity.

RMAR (excluding sections A, B, C, D, E and J33) (Note 4)

Half yearly

For half yearly report: 30 business days after period end

32Adequate information relating to mortgage lending and mortgage administration.

MLAR (excluding A1, A2, B1 and J33) (Note 4)

33

Quarterly

20 business days after quarter end

Note 1: The Annual Financial Return and the annual accounts of a firm must together give a true and fair view of the state of affairs of the firm (or in the case of a sole trader, of his regulated activities) and of the firm's profit or loss.

Note 2: The annual solvency statement is a statement from each partner in the following form: 'I certify that I have sufficient assets to cover my personal liabilities.'

Note 3: A firm must therefore prepare four Quarterly Financial Returns each year. Quarterly Financial Returns are not cumulative, and must relate only to the period concerned. A firm may need to prepare more frequent accounts, including financial resources statements, for its own internal use to ensure that it complies at all times with the rules in UPRU (for a UCITS firm) or BIPRU (for a UCITS investment firm).24

39

32Note 4: When given the report required, a firm must use the return indicated. The RMAR and MLAR are located at SUP 16 Annex 18A and SUP 16 Annex 19A respectively and have the status of rules.

SUP 16.7.68AR

25Financial reports from an UCITS investment firm35

25Content of report

Form

Frequency

Due date

Key data (see note 1)

FSA009 (Note 1)

Quarterly in line with the Quarterly Financial Return in SUP 16.7.68 R

As for Quarterly Financial Return in SUP 16.7.68 R

Non-EEA sub-group (Note 2)

FSA028 (Note 1)

Half yearly

30 business days after period end

Note 1 Reports beginning FSA*** are contained within SUP 16 Annex 2425

Note 2 This will be applicable to firms that report 'yes' in data element 16A in FSA009 on the reporting date. Firms' attention is drawn to SUP 16.3.25 G regarding a single submission for all firms in the group.25

35
SUP 16.7.68BR

30Table financial reports from a UCITS firm which is an exempt CAD firm

Content of report

Form

Frequency

Due date

Key data

FSA043 (note 1)

In line with Quarterly Financial Return and Annual Financial Return applicable to the firm in SUP 16.7.68 R.

As for Quarterly Financial Return and Annual Financial Return applicable to the firm in SUP 16.7.68 R.

Note 1

Reports beginning FSA*** are contained within SUP 16 Annex 24.

SUP 16.7.69R

7A UCITS management company35 must submit the reports in:25

1225252512
  1. (1)

    SUP 16.7.68 R in accordance with, and in the same format as:25

    25
    1. (a)

      the forms contained in SUP 16 Annex 16, and as required by section 3 of that annex; and25

    2. (b)

      the form contained in SUP 16 Annex 20, and having regard to SUP 16 Annex 21; and25

  2. (2)

    SUP 16.7.68A R in accordance with the format set out in SUP 16 Annex 24 R and electronically via the Early Reporting System available from or through the FSA's website.25

    25
  3. (3)

    SUP 16.7.68B R in accordance with the format set our in SUP 16 Annex 24 and electronically via the system available from or through the FSA's website.30

SUP 16.7.70G

[deleted]37

737

Reporting periods

SUP 16.7.71R

7The period covered by:

  1. (1)

    quarterly financial returns may not exceed three months; and

  2. (2)

    annual financial returns may not exceed twelve months.

Timely reporting

SUP 16.7.72R

7A UCITS management company35 must notify the FSA in writing as soon as it has reason to believe it will be unable to submit an annual or quarterly financial return by the dates specified in SUP 16.7.68 R. Such notice must specify why it cannot submit the report to the FSA on time and give the date by which it will submit the report to the FSA.

Insurers and friendly societies17

SUP 16.7.73R

If an insurer or a friendly society is carrying on any of the activities set out in SUP 16.7.74 R, it must submit a report to the FSA in accordance with SUP 16.7.75 R.131211

SUP 16.7.75R

Reports from an insurer or friendly society (see SUP 16.7.73R)17

Report

Return (Note 1)

Frequency

Due date

Adequate information relating to the following activities:

(1) insurance mediation activity;

(2) home finance mediation activity;27

(3) retail investment activity.

27

RMAR (excluding sections A, B, C, D, E, F and J31)

38

Half yearly

30 business days after period end

17Adequate information relating to home finance providing activity and administering a home finance transaction.27

27

MLAR (excluding A1, A2, B1 and C and J)31

Quarterly

20 business days after quarter end 1311

Note 1 = When giving the report required, a firm must use the return indicated. The RMAR and MLAR are located at SUP 16 Annex 18A and SUP 16 Annex 19A respectively and have the status of rules.

A firm not subject to other reporting requirements in SUP 16.711

SUP 16.7.76R

11A firm not subject to other reporting requirements in SUP 16.7.1 G - SUP 16.7.75 R (nor to reporting requirements in IPRU(INS) or IPRU(FSOC)):14

  1. (1)

    with permission to carry on one or more of:

    1. (a)

      insurance mediation activity; or14

    2. (b)

      home finance mediation activity;27 or14

      27
    3. (c)

      home finance providing activity;27 or14

      27
    4. (d)

      administering a home finance transaction;27 or14

      27
  2. (2)

    which is a personal investment firm13;

    1314

must submit reports to the FSA in accordance with SUP 16.7.77 R.A firm which is a category A1, A2 or A3 personal investment firm must also submit data items in accordance with SUP 16.7.77A R. A firm that is an exempt CAD firm must also submit data items in accordance with SUP 16.7.77B R.30

30
SUP 16.7.77R

Reports from a firm not subject to other reporting requirements in SUP 16.7.1 G - SUP 16.7.75 R14

11Report

Return

(Note 1)

Frequency

Due date

Adequate information relating to:13

RMAR

(Note 4)

Half yearly (quarterly for sections A to E for larger firms)

(Note 2)

(Note 3)

For half yearly report: 30 business days after period end.

For quarterly report: 30 business days after quarter end.

(1)

a personal investment firm; or13

(2)

the following activities:13

(a) insurance mediation activity;13

(b) 1327home finance mediation activity;27

(c) retail investment activity.13

Adequate information relating to home finance providing activity and administering a home finance transaction.27

27

MLAR

Quarterly

20 business days after quarter end

If the firm is a home finance provider or home finance administrator,27 annual report and audited accounts (Note 10)21.

27

N/A

Annually

3 months after the firm's accounting reference date

Consolidated supervision return (Note 5)13

19

Half yearly13

4 months after end of relevant 6-month period 13

19Audited consolidated statutory accounts (Notes 9 and 1021)

annually

4 months after the firms accounting reference date

Annual accounts of the mixed-activity holding company (Note 6) 13

Annually13

As soon as available after year-end13

Note 1 = When giving the report required, a firm must use the return indicated. The RMAR and MLAR are located at SUP 16 Annex 18A and SUP 16 Ann 19A respectively and have the status of rules.11

Note 2 = For the purposes of RMAR reporting, a larger firm is a firm whose annual regulated business revenue in its previous financial year was greater than £5m. Annual regulated business revenue for these purposes is a firm's total revenue relating to insurance mediation activity, home finance mediation activity27 and retail investment activity.11

27

Note 3 = Firms categorised under IPRU(INV) 13 as A1, A2 or A3 should submit financial information (RMAR sections A, B, C, D and E) in accordance with ISD and CAD requirements, as follows:11

11Category of firm

Frequency

Due date

Category A1

Monthly

15 business days after month end

Category A2

Quarterly

30 business days from the end of the relevant period.

Category A3

Half yearly (quarterly for larger firms - Note 2)

30 business days from the end of the relevant period.

Note 4 = A firm which submits an MLAR is not required to submit sections A and B of the RMAR. A firm which submits an MLAR and which carries on the activities of a third party processor is not required to submit an RMAR in respect of those activities.1511

Note 5 = This report is only required from a category A1, A2 or A3 personal investment firm if it is a member of a group, and it is subject to consolidated supervision as set out in IPRU(INV) Chapter 14.13

Note 6 = This report is only required from a category A1, A2 or A3 personal investment firm if its ultimate parent is a mixed-activity holding company13

Note 7 = In relation to section J of the RMAR firms with an accounting reference date of between 1 February and 31 August (inclusive) must report the information required by section J solely in their half year end RMAR. All other firms must report the information required by section J solely in their year end RMAR.16

Note 8 = In relation to section J of the MLAR, firms must report the information required by section J solely in their year end MLAR. Firms with an accounting reference date of between 31 December and 31 March (inclusive) must report the information required by section J calculated as at 31 December of the calendar year immediately before the relevant fee period. All other firms must report the information required by section J of the MLAR calculated as at 31 December of the previous calendar year. For example, for 2006/07 fees, for firms with an accounting reference date of between 31 December 2005 and 31 March 2006 (inclusive) the information required by section J is that calculated as at 31 December 2005. For all other firms the information required by section J is that calculated as at 31 December 2004.16

Note 9 = required from all personal investment firms if it is a holding company, or if one of its controllers is a company.18

Note 10 = A firm need only submit this report to the FSA if the report was audited as a result of a statutory provision other than the Act.21

SUP 16.7.77AR

25Financial reports from a personal investment firm

25Content of report

Form

Frequency

Due date

Key data

FSA009 (Notes 1 and 2)

In line with financial information submission requirements applicable to the firm as set out in Note 3 of SUP 16.7.77 R.

As for due dates applicable to the firm as set out in Note 3 of SUP 16.7.77 R.

Key data (Consolidated) (Note 3)

FSA009 (Note 1 and 2)

Half yearly, in line with Consolidated Supervision Return applicable to the firm under SUP 16.7.77 R

As for Consolidated Supervision Return under SUP 16.7.77 R

Non-EEA sub-group (Note 4)

FSA028 (Note 1 and 2)

Half yearly

30 business days after period end

Note 1 Reports beginning FSA*** are contained within SUP 16 Annex 2425

Note 2 FSA009 and FSA028 must be submitted electronically via the Early Reporting System available from or through the FSA's website.25

Note 3 Only for a category A1, A2 or A3 personal investment firm if it is a member of a group and is subject to the consolidation rules set out in IPRU(INV) Chapter 14. These firms must complete an FSA009 setting out the consolidated position in addition to a non-consolidated version.25

Note 4 This will be applicable to firms that report 'yes' in data element 16A in FSA009 on the reporting date. Firms' attention is drawn to SUP 16.3.25 G regarding a single submission for all firms in the group2535

SUP 16.7.77BR

30Table financial reports from a firm which is an exempt CAD firm

Content of report

Form

Frequency

Due date

Key data

FSA043 (note 1 and 2)

In line with quarterly or half-yearly RMAR applicable to the firm under SUP 16.7.77 R.

As for quarterly or half-yearly RMAR applicable to the firm under SUP 16.7.77 R

Note 1

Reports beginning FSA*** are contained within SUP 16 Annex 24.

Note 2

FSA043 must be submitted electronically through the system available from or through the FSA's website.

SUP 16.7.78R

11Where a home finance provider or home finance intermediary27 establishes a special purpose vehicle, it must ensure that any report which the home finance provider or home finance intermediary27 makes in accordance with SUP 16.7.76 R takes account of the activities of the special purpose vehicle as if those activities were the activities of the home finance provider27 itself.

272727
SUP 16.7.79R

11An incoming EEA firm which in the United Kingdom carries on only cross border services and is not subject to other reporting requirements in SUP 16.7 with permission to carry on:

  1. (1)

    insurance mediation activity; or

  2. (2)

    home finance mediation activity;27 or

    27
  3. (3)

    home finance providing activity;27 or

    27
  4. (4)

    administering a home finance transaction;27 or

    27
  5. (5)

    retail investment activity;

is subject to the requirements of SUP 16.10 only, and no requirements in respect of the RMAR or MLAR.

SUP 16.7.80R

11An incoming EEA firm with a branch in the United Kingdom, not subject to other reporting requirements in SUP 16.7, with permission to carry on:

  1. (1)

    insurance mediation activity; or

  2. (2)

    retail investment activity;

is required to provide such information relating to those activities as is specified in SUP 16 Annex 18BG and SUP 16 Annex 19BG.

SUP 16.7.81G

11SUP 16.7.80 R is relevant, for example, to an insurance broker registered in another EEA State pursuant to the Insurance Mediation Directive36, which exercises its EEA right to establish a branch in the United Kingdom and is not subject to other reporting requirements in SUP 16.7.

36

12Financial conglomerates35

SUP 16.7.82R
  1. (1)

    1212A firm that is a member of a financial conglomerate must submit financial reports to the FSA in accordance with the table in SUP 16.7.83 R if:

    1. (a)

      it is at the head of an FSA regulated EEA financial conglomerate; or

    2. (b)

      its Part IV permission contains a relevant requirement.

  2. (2)

    In (1)(b), a relevant requirement is one which:

    1. (a)

      applies SUP 16.7.83 R to the firm; or

    2. (b)

      applies SUP 16.7.83 R to the firm unless the mixed financial holding company of the financial conglomerate to which the firm belongs submits the report required under this rule (as if the rule applied to it).35

SUP 16.7.83R

1212Financial reports from a member of a financial conglomerate (see SUP 16.7.82 R)

Content of Report

Form

(Note 1)

Frequency

Due Date

Calculation of supplementary capital adequacy requirements in accordance with one of the four technical calculation methods

Note 2

Note 5

Note 5

Identification of significant risk concentration levels

Note 3

Yearly

4 months after year end

Identification of significant intra-group transactions

Note 4

Yearly

4 months after year end

Report on compliance with PRU 8.4.35 R where it applies

Note 6

Note 5

Note 5

Note 1 = When giving the report required, a firm must use the form indicated, if any.

Note 2 = If Part 1 of PRU 8 Ann 1R G29 (method 1), Part 2 of PRU 8 Ann 1R G29 (method 2), or Part 3 of PRU 8 Ann 1R G29 (method 3) applies, there is no specific form. Adequate information must be provided, and each financial conglomerate for which the FSA is the co-ordinator must discuss with the FSA how to do this.

If Part 4 of PRU 8 Ann 1R G29 applies (method 4):

(1)

a banking / investment conglomerate must use FSA009 (located in SUP 16 Annex 24 R); and

(2)

an insurance conglomerate must use:29

29

29(a) (where SUP 16.7.82R (1)(a) applies), Forms 1, 2 and 3 in Appendix 9.1 of IPRU(INS), as appropriate, prepared and audited in accordance with rule 9.35(1) of IPRU(INS); or

29(b) (in any other case), the Insurance Group Capital Adequacy Reporting Form (Form 95) in Appendix 9.9 of IPRU(INS).

29For the purposes of (b) above, rules 9.40(1), 9.40(1A), 9.40(3) and 9.40(4) of IPRU(INS) apply as they would if the insurance conglomerate were an insurance group.

Note 3 = Rather than specifying a standard format for each financial conglomerate to use, each financial conglomerate for which the FSA is the co-ordinator must discuss with the FSA the form of the information to be reported. This should mean that usual information management systems of the financial conglomerate can be used to the extent possible to generate and analyse the information required.

When reviewing the risk concentration levels, the FSA will in particular monitor the possible risk of contagion in the financial conglomerate, the risk of a conflict of interests, the risk of circumvention of sectoral rules, and the level or volume of risks.

Note 4 = For the purposes of this reporting requirement, an intra-group transaction will be presumed to be significant if its amount exceeds 5% of the total amount of capital adequacy requirements at the level of the financial conglomerate.

Rather than specifying a standard format for each financial conglomerate to use, each financial conglomerate for which the FSA is the co-ordinator will need to discuss with the FSA the form of the information to be reported. This should mean that usual information management systems of the financial conglomerate can be used to the extent possible to generate and analyse the information required.

When reviewing the intra-group transactions, the FSA will in particular monitor the possible risk of contagion in the financial conglomerate, the risk of a conflict of interests, the risk of circumvention of sectoral rules, and the level or volume of risks.

Note 5 = The frequency and due date will be as follows:

1.

banking conglomerate: frequency is half-yearly with due date 20 business days after period end (24 business days if submitted electronically);

2.

building society conglomerate: frequency is quarterly with due date seven business days after month end (largest societies) and ten business days after month end (other societies);

3.

investment services conglomerate: frequency is half yearly with due date three months after period end;

4.

insurance conglomerate: frequency is yearly with due date four months after period end for the capital adequacy return and three months after period end for the intra-group transactions.

Note 6 = Adequate information must be added as a separate item to the relevant form for sectoral reporting.35