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Status: You are viewing the version of the handbook as on 2005-06-30.

SUP 17.5 Reportable transactions

SUP 17.5.1R

A 'reportable transaction' is a transaction of a type identified in SUP 17.5.4, except:

  1. (1)

    stock or bond lending and borrowing, repurchase or reverse repurchase agreements;

  2. (2)

    asset trading transactions, including novation, assignment and sub-participation; and

  3. (3)

    issues, market allotments and syndications which are not dealt in on a regulated market.

SUP 17.5.2G
SUP 17.5.3G

In general, transactions, other than those in derivative products, between the issuer of an instrument and the first taker as principal are not reportable transactions. However, if an instrument is already dealt in on a regulated market, all secondary issue transactions are reportable if the new issue ranks equally with those already in issue and the issue is already traded or listed on a regulated market. All secondary market transactions carried out on or off exchange, before or after the instrument is issued, are reportable. In addition, for a firm which is not a personal investment firm or an investment management firm (essentially BCD credit institutions and securities and futures firms), reportable transactions include transactions in some instruments which are not traded on a regulated market at all - for example the instrument concerned might only be traded over the counter or through a trading facility such as Ofex.

SUP 17.5.4R

Reportable transactions (see SUP 17.5.1)

Class of firm

Reportable transactions

personal investment firm

A transaction which is entered into within anEEA Stateand is in any of the following instruments which is dealt in on a regulated market:

(a)

asecurity (except a unit); or

(b)

afuture ; or

(c)

anoption.

investment management firm

A transaction which:

(a)

is executed in theEEA;

(b)

is carried out for valuable consideration; and

(c)

relates to an instrument which is dealt in on aregulated marketother than:

(i)

futures not relating to shares; or

(ii)

options(includingcoveredwarrants) not relating toshares; or

(iii)

swaps relating todesignated investmentsother thansharesordebentures; or

(iv)

currencies and currencyderivatives; or

(v)

units; or

(vi)

futures or options relating to a basket of shares or an equity index not capable of settlement by delivery.

any otherfirm

A transaction in adesignated investmentsexcept for:

(a)

money-market instruments not dealt in on aregulated market; or

(b)

units; or

(c)

contracts for differenceswhich are not related to debt or equities (see note); or

(d)

currencies; or

(e)

commodities (including bullion); or

(f)

life policies; or

(g)

futures or optionson anything in (a) to (e).

Note:Firmsare required to reportcontracts for differences(includingspread bets) on the value or price of a bond, an equity or a related index or indices. Firmsare not required to reportcontracts for differenceswhere the contract is based on the fluctuation in the price or value of an interest rate, currency, acommodityor on the value of a dividend payment or payments on an equity or a basket of equities.