Related provisions for SUP 16.3.10
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Method of submission of reports (see SUP 16.3.8 R)Method of delivery1.Post to the published address of the FSA for postal submission of reports2.Leaving the report at the published address of the FSA for hand delivery of reports and obtaining a dated receipt3.Electronic mail to an address for the firm's usual supervisory contact at the FSA and obtaining an electronic confirmation of receipt4.Hand delivery to the firm's usual supervisory contact at the FSA and obtaining a dated
(1) A firm must submit a report required by this chapter in the frequency, and so as to be received by the FSA no later than the due date, specified for that report.(2) If the due date for submission of a report required by this chapter falls on a day which is not a business day, the report must be submitted so as to be received by the FSA no later than the first business day after the due date. (3) If the due date for submission of a report required by this chapter is a set
9Failure to submit a report in accordance with the rules in, or referred to in,12 this chapter or the provisions of relevant legislation12 may also lead to the imposition of a financial penalty and other disciplinary sanctions (seeDEPP 6.6.1 G-DEPP 6.6.5 G16). A firm may be subject to reporting requirements under relevant legislation other than the Act, not referred to in this chapter. An example of this is reporting to the FSA by building societies under those parts of the Building
The firm is responsible for ensuring delivery of the required report at the FSA's offices by the due date. If a report is received by the FSA after the due date and the firm believes its delivery arrangements were adequate, it may be required to provide proof of those arrangements. Examples of such proof would be:(1) "proof of posting" receipts from a UK post office or overseas equivalent which demonstrates that the report was posted early enough to allow delivery by the due
SUP 16.2.1 G emphasises the importance to the FSA of timely and accurate information. The extension of a firm's accounting period to more than 15 months may hinder the timely provision of relevant and important information to the FSA. This is because many due dates for reporting to the FSA are linked to firms'accounting reference dates. Indeed, for some categories of firm, the only reports required by the FSA have due dates for submission which are linked to the firm's accounting
SUP 2.3.12 G states that the FSA may pass to other regulators information which it has in its possession. Such information includes information contained in reports submitted under this chapter. The FSA's disclosure of information to other regulators is subject to SUP 2.2.4 G (Confidentiality of information).
(1) Principle 4 requires firms to maintain adequate financial resources. The Interim Prudential sourcebooks, PRU, BIPRU and GENPRU set out the FSA's detailed capital adequacy requirements. By submitting regular data, firms enable the FSA to monitor their compliance with Principle 4 and their prudential requirements in the FSA Handbook.(2) The data items submitted help the FSA analyse firms' financial and other conditions and performance and to understand their business. By
(1) Any firm permitted to 5carry5 on any of the activities within each of the RAGs set out in column (1) of the table in SUP 16.12.4 R must:(a) (i) unless (ii) applies, submit to the FSA the duly completed data items or other items applicable to the firm as set out in the provision referred to in column (2) of that table;(ii) to the extent that a firm is required to submit completed data items in respect of more than one RAG, the firm must only submit the data item of the same
Table of applicable rules containing data items4, frequency and submission periods(1)(2)(3)(4)RAGnumberRegulated ActivitiesProvisions containing:applicabledata itemsreporting frequency/ periodDue dateRAG 1• accepting deposits• issuing electronic moneySUP 16.12.5 RSUP 16.12.6 RSUP 16.12.7 RRAG 2.1• effecting contracts of insurance• carrying out contracts of insurance• entering as provider into a funeral plan contractSUP 16.12.8 R2SUP 16.12.8 R2SUP 16.12.8 R2RAG 2.2• managing the
2The applicable data items referred to in SUP 16.12.4 R are set out according to type of firm in the table below:Description ofData itemFirm prudential category and applicable data item (note 1)BIPRU 730K firmBIPRU 125K firm and UCITS investment firmBIPRU 50K firmIPRU(INV)2Chapter 13 firms carrying out European-wide activities under MiFIDIPRU(INV)2Chapter 13 firms not carrying out European-wide activities under MiFIDAnnual accountsNo standard formatAnnual accounts of the mixed-activity
2The applicable data items, reporting frequencies and submission deadlines referred to in SUP 16.12.4 R are set out in the table below. Reporting frequencies are calculated from a firm'saccounting reference date, unless indicated otherwise. The due dates are the last day of the periods given in the table below following the relevant reporting frequency period.Description of data itemData item (note 1)FrequencySubmission deadlineAnnual regulated business revenue up to and including
(1) 2An authorised professional firm, other than one that must comply with IPRU(INV) 3, 5, 10 or 13 in accordance with IPRU(INV) 2.1.4R,3 must submit an annual questionnaire, contained in SUP 16 Annex 9R, unless:(a) its only regulated activities are one or more of:(i) insurance mediation;(ii) mortgage mediation;(iii) retail investment;(iv) mortgage lending;(v) mortgage administration; or(b) its "main business" as determined by IPRU(INV) 2.1.2R(3) is advising on, or arrangingdeals
Financial reports from a member of a financial conglomerate (see SUP 16.12.32 R)Content of ReportForm (Note 1)FrequencyDue DateCalculation of supplementary capital adequacy requirements in accordance with one of the four technical calculation methodsNote 2Note 5Note 5Identification of significant risk concentration levelsNote 3Yearly4 months after year endIdentification of significant intra-group transactionsNote 4Yearly4 months after year endReport on compliance with PRU 8.4.35
(1) The purpose of this section2 is to set out the requirements for firms in the retail mortgage, investment, and pure protection contract markets specified in SUP 16.11.1 R to report individual product sales data to the FSA. This requirement applies whether the regulated activity has been carried out by the firm, or through an intermediary which has dealt directly with the firm.2(2) The purpose of collecting this data is to assist the FSA in the ongoing supervision of firms engaged
(1) A firm may appoint another person to provide the data report on the firm's behalf if the firm has informed the FSA of that appointment in writing.(2) Where (1) applies, the firm must ensure that the data report complies with the requirements of SUP 16.11 and identifies the originator of the transaction.
There is no duty on an approved person to report such information directly to the FSA unless he is one of the approved persons responsible within the firm for reporting matters to the FSA. However, if an approved person takes steps to influence the decision so as not to report to the FSA or acts in a way that is intended to obstruct the reporting of the information to the FSA, then the FSA will, in respect of that information, view him as being one of those within the firm who has
In determining whether or not an approved person's conduct under APER 4.4.4 E complies with Statement of Principle 4, the following are factors which, in the opinion of the FSA, are to be taken into account:(1) the likely significance to the FSA of the information which it was reasonable for the individual to assume;(2) whether the information related to the individual himself or to his firm;(3) whether any decision not to report the matter internally was taken after reasonable enquiry
The FSA will normally require the person in SUP 5.2.1 G to appoint the skilled person to report to the FSA through that person. In the normal course of events the FSA expects that the person in SUP 5.2.1 G will be given the opportunity to provide written comments on the report prior to its submission to the FSA (SUP 5 Annex 2 summarises the reporting process).
Some of the distinguishing features of notices given under enactments other than the Act are as follows: (1) Building Societies Act 1986, section 36A: There is no right to refer a decision to issue a prohibition order under section 36A to the Tribunal. Accordingly, a decision notice under section 36A(5A) is not required to give an indication of whether any such right exists. A decision notice under section 36A(5A) may only relate to the issue of a prohibition order under section
Table of application, notification and vetting fees(1) Fee payer(2) Fee payableDue date(a) Any applicant for Part IV permission (including an incoming firm applying for top-up permission) (1) Unless (2) applies, in1 respect of a particular application, the highest of the tariffs set out in FEES 3 Annex 1 part 11 which apply to that application.(2) In respect of a particular application which is:(i) a straightforward or moderately complex case for the purposes of FEES 3 Annex 1
9(1) Depending on the nature, scale and complexity of its business, it may be appropriate for a firm to delegate much of the task of monitoring the appropriateness and effectiveness of its systems and controls to an internal audit function. An internal audit function should have clear responsibilities and reporting lines to an audit committee or appropriate senior manager, be adequately resourced and staffed by competent individuals, be independent of the day-to-day activities
1A firm operating an MTF must:(1) report to the FSA:(a) significant breaches of the firm's rules;(b) disorderly trading conditions; and(c) conduct that may involve market abuse; (2) supply the information required under this rule without delay to the FSA and any other authority competent for the investigation and prosecution of market abuse; and (3) provide full assistance to the FSA, and any other authority competent for the investigation and prosecution of market abuse, in