Related provisions for BIPRU 7.8.16
Table: Net underwriting position reduction factors
This table belongs to BIPRU 7.8.27R
Underwriting timeline |
Debt |
Equity |
|
Time of initial commitment until working day 0 |
0% |
100% |
90% |
0% |
90% |
90% |
|
0% |
75% |
75% |
|
0% |
75% |
75% |
|
0% |
50% |
50% |
|
0% |
25% |
25% |
|
Working day 6 and onwards |
0% |
0% |
0% |
Table: Example of the reduced net underwriting position calculation
This table belongs to BIPRU 7.8.29G
Time |
Percentage reduction (see BIPRU 7.8.28R) |
||||
At initial commitment 9.00am Monday |
£100m gross amount is reduced by £20m due to sales/sub-underwriting commitments confirmed in writing at the time of initial commitment (see BIPRU 7.8.17R (1)) and (4)). |
= |
£80m |
90% |
£8m |
Post initial commitment 9.02am Monday |
Remaining £80m is reduced by £40m due to further sales, sub-underwriting commitments obtained and allocations granted (see BIPRU 7.8.17R (2) - (5)). |
= |
£40m |
90% |
£4m |
At the end of working day 1 |
Remaining £40m is reduced to £20m due to further sales. |
= |
£20m |
90% |
£2m |
End of working day 3 |
Remaining £20m is reduced to £5m due to further sales. |
= |
£5m |
75% |
£1.25 m |
End of working day 4 |
Remaining £5m is reduced to £2m due to further sales. |
= |
£2m |
50% |
£1m |
End of working day 5 |
Remaining £2m is reduced to £1m due to further sales. |
= |
£1m |
25% |
£0.75 m |
Start of working day 6 |
£1m remaining |
= |
£1m |
0% |
£1m |
Table: Calculation of net underwriting exposure
This table belongs to BIPRU 7.8.34R
Time |
Reduction factor to be applied to net underwriting position |
100% |
|
100% |
|
90% |
|
75% |
|
75% |
|
50% |
|
25% |
|
Working day 6 onwards |
0% |
Part II RAO Activities13 |
Part III RAO Investments |
||
1. |
Reception and transmission of orders in relation to one or more financial instruments |
Article 252 |
Article 76-81, 82B,12 83-85, 89 |
2. |
Execution of orders on behalf of clients |
Article 14, 21 |
A Article 76-81,82B,12 83-85, 89 |
3. |
Dealing on own account |
Article 14 |
Article 76-81, 82B,12 83-85, 89 |
4. |
Portfolio management |
Article 37 (14, 21, 25 - see Note 1) 2 |
Article 76-81, 82B,12 83-85, 89 |
5. |
Investment advice |
Article 53(1)10 |
Article 76-81, 82B,12 83-85, 89 |
6. |
Underwriting of financial instruments and/or placing of financial instruments on a firm commitment basis |
Article 14, 21 |
Article 76-81, 82B,12 83-85, 89 |
7. |
Placing of financial instruments without a firm commitment basis |
Article 21, 25 |
Article 76-81, 82B,12 83-85, 89 |
8. |
Operation of Multilateral Trading Facilities |
Article 25D5 (see Note 2) 5 |
Article 76-81, 82B,12 83-85, 89 |
12 9. |
Operation of an OTF |
Article 25DA (see Note 3) |
Article 77, 77A, 78, 79, 80, 81, 82B, 83-85, 89 |
Ancillary services |
Part II RAO Activities |
Part III RAO Investments |
|
1. |
Safekeeping and administration of financial instruments for the account of clients, including custodianship and related services such as cash/collateral management |
Article 40, 45, 64 |
Article 76-81, 82B,12 83-85, 89 |
2. |
Granting credits or loans to an investor to allow him to carry out a transaction in one or more of the relevant instruments where the firm granting the credit or loan is involved |
||
3. |
Advice to undertakings on capital structure, industrial strategy and related matters and advice and services relating to mergers and the purchase of undertakings |
Article 14, 21, 25, 53(1)10, 64 |
Article 76-80, 82B,12 83-85, 89 |
4. |
Foreign exchange services where these are connected with the provision of investment services |
Article 14, 21, 25, 53(1)10, 64 |
Article 83-85, 89 |
5. |
Investment research and financial analysis or other forms of general recommendation relating to transactions in financial instruments |
Article 76-81, 82B,12 83-85, 89 |
|
6. |
Services related to underwriting |
Article 25, 53(1)10, 64 |
Article 76-81, 82B,12 83-85, 89 |
7. |
Investment services and activities as well as ancillary services of the type included under Section A or B of Annex I related to the underlying of the derivatives included under Section C 5, 6, 7 and 10-where these are connected to the provision of investment or ancillary services. |
Article 14, 21, 25, 25D,5 37, 53(1)10, 64 5 |
Article 83 and 84 |
Note 1. A firm may also carry on these other activities when it is managing investments.2 |
|||
Note 2. A firm operating an MTF under article 25D5 does not need to have a permission covering other regulated activities, unless it performs other regulated activities in addition to operating an MTF. 5 |
|||
Note 3. A firm operating an OTF under article 25DA does not need to have a permission covering other regulated activities, unless it performs other regulated activities in addition to operating an OTF.12 |
|||
13Note 4: A firm which provides investment research and financial analysis or other forms of general recommendation relating to transactions in financial instruments does not need permission under article 53(1) of the Regulated Activities Order if it is appropriately authorised (see article 53(1) to (1D) of the Regulated Activities Order). |
Table 2ZA: AIFMD activities |
Part II RAO Activities |
Part III RAO Investments |
|
1. |
Article 51ZC |
N/A (activity relates to property of any kind) |
|
2. |
Management of portfolios of investments, including those owned by pension funds and institutions for occupational retirement in accordance with article 19(1) of Directive 2003/41/EC, in accordance with mandates given by investors on a discretionary client-by-client basis (Note 2). |
Articles 14, 21, 25, 37, 40 (arranging only), 64 |
Articles 76 to 81, 82B,12 83 to 85, 89 |
3. |
Investment advice (Note 2). |
Articles 53(1)10, 64 |
Articles 76 to 81, 82B,12 83 to 85, 89 |
4. |
Safe-keeping and administration in relation to shares or units of collective investment undertakings. |
Articles 40, 45, 64 |
Articles 76 to 81, 82B,12 83 to 85, 89 |
5. |
Reception and transmission or orders in relation to financial instruments. |
Articles 25(1), 64 |
Articles 76 to 81,82B,12 83 to 85, 89 |
Note 1. See FUND 1.4.2 R to FUND 1.4.4 R for further information in relation to the activities that full-scope UK AIFMs are able to perform. |
|||
Note 2. See FUND 1.4.5 G for the position with respect to assets which are not financial instruments. |
Table 2A: UCITS Directive activities |
Part II RAO Activities |
Part III RAO Investments |
|
1. |
The management of UCITS in the form of unit trusts / common funds or of investment companies; this includes the function mentioned in Annex II of the UCITS Directive (see Note 2). |
Article 51ZA8 8 |
N/A (activity relates to property of any kind) (Note 3)8 88 |
2. |
Managing portfolios of investments, including those owned by pension funds, in accordance with mandates given by investors on a discretionary, client-by-client basis, where such portfolios include one or more of the instruments listed in Section C 3of Annex I 3to MiFID3. 33 |
Articles 14, 21, 25, 37, 40 (arranging only),8 64 8 |
Articles 76-81, 82B,12 83-85, 89 |
3. |
Investment advice concerning one or more of the instruments listed in Section C3of Annex I 3to MiFID3. 3 |
Articles 53(1)10, 64 |
Articles 76-81, 82B,12 83-85, 89 |
4. |
Safekeeping and administration services in relation to units of collective investment undertakings. |
Articles 40, 45, 64 |
Articles 76-81, 82B,12 83-85, 89 |
Note 1. A UCITS management company can only be authorised to carry on the non-core services set out in rows (3) and (4) of Table 2A if it is also authorised to carry on the activity set out in row (2) of the table (see COLL 6.9.9 R)8. 338 |
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Note 2. The functions set out in Annex 2 to the UCITS Directive are: |
|||
1. |
Investment management. |
||
2. |
Administration: |
||
a. |
legal and fund management accounting services; |
||
b. |
customer inquiries; |
||
c. |
valuation and pricing (including tax returns); |
||
d. |
regulatory compliance monitoring; |
||
e. |
maintenance of unit-holder register; |
||
f. |
distribution of income; |
||
g. |
unit issues and redemptions; |
||
h. |
contract settlements (including certificate dispatch); |
||
i. |
record keeping. |
||
3. |
Marketing. |
||
8Note 3. The regulated activity of managing a UCITS may be carried on for property of any kind (article 4(2) of the regulated activities order). However, the scheme property of a UCITS scheme is limited to certain types of property, in line with COLL 5 (Investment and borrowing powers). |
Table of applicable rules containing data items4, frequency and submission periods
(1) |
(2) |
(3) |
(4) |
|
RAGnumber |
Provisions containing: |
|||
applicabledata items |
reporting frequency/ period |
due date32 32 |
||
271212 | 37 | |||
RAG 1 |
• accepting deposits • meeting of repayment claims76 managing dormant account funds (including the investment of such funds)76 |
RAG 1 firms should complete their prudential reporting requirements as set out in the PRA Rulebook.76 |
||
RAG 2.1 |
• effecting contracts of insurance • carrying out contracts of insurance • entering as provider into a funeral plan contract |
2 | 2 | 2 |
RAG 2.2 |
• managing the underwriting capacity of a Lloyds syndicate as a managing agent at Lloyds • advising on syndicate participation at Lloyds • arranging deals in contracts of insurance written at Lloyds |
|||
RAG 3 |
• dealing in investment as principal • dealing in investments as agent • advising on investments (except P2P agreements) 67 (excluding retail investment activities) • arranging (bringing about) deals in investments (excluding retail investment activities) • advising on P2P agreements (when carried on exclusively with or for professional clients)67 |
SUP 16.12.11 R78except FSA001 and FSA002 on consolidated basis for FINREP firms37 37 |
SUP 16.12.10 R2SUP 16.12.12 R78 37 |
|
RAG 4 |
• managing investments • establishing, operating or winding up a collective investment scheme • establishing, operating or winding up a stakeholder pension scheme • establishing, operating or winding up a personal pension scheme2 • operating an electronic system in relation to lending (FCA-authorised persons only)48 3838 |
SUP 16.12.15 R78, except FSA001 and FSA002 on consolidated basis for FINREP firms37 37 |
SUP 16.12.14 R2SUP 16.12.16 R78 37 |
|
RAG 5 |
• home finance administration or home finance providing activity11 11 |
76SUP 16.12.18BR 37 and SUP 16.12.18C R58 258 |
76SUP 16.12.18BR 37 and SUP 16.12.18C R58 258 |
76SUP 16.12.18BR 37 and SUP 16.12.18C R58 258 |
RAG 6 |
• safeguarding and administration of assets (without arranging) • arranging safeguarding and administration of assets • acting as trustee or depositary of an AIF38 • acting as trustee or depositary of a UCITS38 384038 |
|||
RAG 7 |
• retail investment activities • advising on P2P agreements (except when carried on exclusively with or for professional clients)67 • advising on pensions transfers & opt-outs • arranging (bringing about deals) in retail investments |
SUP 16.12.22A R78except FSA001 and FSA002 on consolidated basis for FINREP firms37 37 |
3737 | |
RAG 8 |
• making arrangements with a view to transactions in investments • operating a multilateral trading facility4 • operating an organised trading facility35 |
SUP 16.12.25AR or SUP 16.12.25CR for UK designated investment firms except80 FSA001 and FSA002 on consolidated basis for FINREP firms80 377837 |
||
RAG 9 |
• home finance mediation activity14 • insurance mediation activity (non-investment insurance contracts) 14 |
|||
RAG 10 |
96 | |||
The applicable data items referred to in SUP 16.12.4 R are set out76 according to firm type76 in the table below:
Firms' prudential category and applicable data items (note 1) |
||||||||||
Firms other than BIPRU firms or IFPRU investment firms |
||||||||||
IPRU(INV) Chapter 3 |
IPRU(INV) Chapter 5 |
IPRU(INV) Chapter 9 |
IPRU(INV) Chapter 11 (collective portfolio management firms only) |
IPRU(INV) Chapter 13 |
38 | |||||
Solvency statement |
No standard format |
No standard format (Note 11) |
No standard format |
No standard format |
38 | |||||
Balance sheet |
FSA001/FINREP (Notes 2 and 34) |
FSA001 (Note 2) |
FSA029 |
FSA029 |
FSA029 |
FSA029 |
FSA02948 |
FSA029 (note 15) or Section A RMAR (note 15) |
38 | |
Income statement |
FSA002/FINREP (Notes 2 and 34) |
FSA002 (Note 2) |
FSA030 |
FSA030 |
FSA030 |
FSA030 |
FSA03048 |
FSA030 (note 15) or Section B RMAR (note 15) |
38 | |
Capital adequacy |
COREP (Note 34) |
FSA003 (Note 2) |
FSA033 |
FSA034 or FSA035 or FIN07152 (note 14) |
FSA031 |
FIN066 |
FIN06948 |
SectionD162 RMAR or FSA032 (note 15) 50 |
38 | |
Supplementary capital data for collective portfolio management investment firms |
FIN067 (Note 32) |
FIN068 (Note 32) |
||||||||
Credit risk |
COREP (Note 34) |
FSA004 (Notes 2, 3) |
||||||||
Market risk |
COREP (Note 34)50 |
FSA005 (Notes 2, 4) |
||||||||
Market risk - supplementary |
FSA006 (note 5) |
FSA006 (note 5) |
||||||||
Operational risk |
COREP (Note 34) |
|||||||||
Large exposures |
COREP (Note 34) |
|||||||||
Exposures between core UK group and non-core large exposures group |
FSA018 (note 12) |
|||||||||
Solo consolidation data |
FSA016 (note 20) |
FSA016 (Note 20) |
||||||||
Pillar 2 questionnaire |
FSA019 (note 8) |
FSA019 (Note 8) |
||||||||
Non-EEA subgroup |
COREP (Note 34) |
FSA028 (Note 9) |
||||||||
Threshold conditions |
Section F RMAR (note 15) |
|||||||||
Volumes and types of business (note 21) |
FSA038 |
FSA038 |
FSA038 |
FSA038 |
FSA038 |
FSA038 |
FSA038 |
38 | ||
Client money and client assets |
FSA039 |
FSA039 |
FSA039 |
FSA039 |
FSA039 |
FSA039 |
FSA03948 |
Section C RMAR (note 15) or FSA039 |
38 | |
38 | ||||||||||
IRB portfolio risk |
FSA045 (note 18) |
FSA045 (Note 18) |
||||||||
Securitisation: non-trading book |
COREP (Note 34) |
FSA046 (Note 19) |
||||||||
Daily Flows |
FSA047/COREP (Notes 23, 26, 28, 30 and 34) |
|||||||||
Enhanced Mismatch Report |
FSA048/COREP (Notes 23, 26, 28, 30 and 34) |
|||||||||
Liquidity Buffer Qualifying Securities |
FSA050/COREP (Notes 24, 27, 28, 30 and 34) |
|||||||||
Funding Concentration |
FSA051/COREP (Notes 24, 27, 28, 30 and 34) |
|||||||||
Pricing data |
FSA052/COREP (Notes 24, 28, 30, 31 and 34) |
|||||||||
Retail and corporate funding |
FSA053/COREP (Notes 24, 27, 28, 30 and 34) |
|||||||||
Currency Analysis |
FSA054/COREP (Notes 24, 27, 28, 30 and 34) |
|||||||||
Systems and Controls Questionnaire |
FSA055/COREP (Notes 25, 30 and 34) FSA055 (Notes 25 and 30) |
FSA055 (Notes 25 and 30) |
||||||||
Securitisation: trading book48 |
COREP (Note 34) |
FSA058 (Note 29) |
||||||||
Information on P2P agreements48 |
FIN07048 |
|||||||||
Note 1 |
All firms, except IFPRU investment firms in relation to data items reported under the EU CRR, when submitting the completed data item required, a firm must use the format of the data item set out in SUP 16 Annex 24 R. Guidance notes for completion of the data items are contained in SUP 16 Annex 25 G. |
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Note 2 |
Firms that are members of a UK consolidation group are also required to submit this report on a UK consolidation group basis. |
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Note 3 |
This applies to a firm that is required to submit data item FSA003 and at anytime within the 12 months up to its latest accounting reference date ("the relevant period"), was reporting data item FSA004 ("Firm A") or not reporting this item ("Firm B"). In the case of Firm A it must report this data item if one or both of its last two submissions in the relevant period show that the threshold was exceeded. In the case of Firm B it must report this item if both the last two submissions in the relevant period show that the threshold has been exceeded. The threshold is exceeded where data element 77A in data item FSA003 is greater than £10 million, or its currency equivalent, at the relevant reporting date for the firm. |
|||||||||
Note 4 |
This applies to a firm that is required to submit data item FSA003 and at any time within the 12 months up to its latest accounting reference date ("the relevant period"), was reporting data item FSA005 ("Firm A") or not reporting this item ("Firm B"). In the case of Firm A it must report this data item if one or both of its last two submissions in the relevant period show that the threshold was exceeded. In the case of Firm B it must report this item if both the last two submissions in the relevant period show that the threshold has been exceeded. The threshold is exceeded where data element 93A in data item FSA003 is greater than £50 million, or its currency equivalent, at the relevant reporting date for the firm. |
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Note 5 |
Only applicable to firms with a VaR model permission. |
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Note 6 |
[deleted] |
|||||||||
Note 7 |
[deleted] |
|||||||||
Note 8 |
Only applicable to IFPRU investment firms and BIPRU firms that:80 (a) are subject to consolidated supervision under BIPRU 8, except those that are either included within the consolidated supervision of a group that includes a UK credit institution, or that have been granted an investment firm consolidation waiver; or (b) have been granted an investment firm consolidation waiver; or (c) are not subject to consolidated supervision under BIPRU 8.80 An IFPRU investment firm and a BIPRU firm under (a) must complete the report on the basis of its UK consolidation group. An IFPRU investment firm and a BIPRU firm under (b) or (c) must complete the report on the basis of its solo position. |
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Note 9 |
This will be applicable to firms that are members of a UK consolidation group on the reporting date. |
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Note 10 |
[deleted]55 55 |
|||||||||
Note 11 |
Only applicable to a firm that is a sole trader or a partnership, when the report must be submitted by each partner. |
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Note 12 |
Only applicable to a firm that has both a core UK group and a non-core large exposures group. |
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Note 13 |
[deleted]55 55 |
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Note 14 |
FSA034 must be completed by a firm not subject to the exemption in IPRU(INV) 5.4.2R74, unless it is a firm whose permitted business includes establishing, operating or winding up a personal pension scheme, in which case FIN071 must be completed76. FSA035 must be completed by a firm subject to the exemption in IPRU(INV) 5.4.2R7476. 7452 |
|||||||||
Note 15 |
FSA029, FSA030, FSA032 and FSA039 only apply to a firm subject to IPRU(INV) Chapter 13 which is an exempt CAD firm. Sections A, B, C, D162 and F RMAR only apply to a firm subject to IPRU(INV) Chapter 13 which is not an exempt CAD firm. 50 |
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Note 16 |
[deleted] |
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Note 17 |
[deleted] |
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Note 18 |
Only applicable to firms that have an IRB permission. |
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Note 19 |
Only applicable to firms that hold securitisation positions, or are the originator or sponsor of securitisations of non-trading book exposures. |
|||||||||
Note 20 |
Only applicable to a firm that has a solo consolidation waiver. |
|||||||||
Note 21 |
[deleted] |
|||||||||
Note 22 |
[deleted]72 |
|||||||||
Note 23 |
A firm must complete this item separately on each of the following bases (if applicable). (1) It must complete it on a solo basis. Therefore even if it has a solo consolidation waiver it must complete the item on an unconsolidated basis by reference to the firm alone. (2) If it is a group liquidity reporting firm in a DLG by default and is a UK lead regulated firm, it must complete the item on the basis of that group. (3) If it is a group liquidity reporting firm in a UK DLG by modification, it must complete the item on the basis of that group. (4) If it is a group liquidity reporting firm in a non-UK DLG by modification, it must complete the item on the basis of that group. |
|||||||||
Note 24 |
A firm must complete this item separately on each of the following bases that are applicable. (1) It must complete it on a solo basis unless it is a group liquidity reporting firm in a UK DLG by modification. Therefore even if it has a solo consolidation waiver it must complete the item on an unconsolidated basis by reference to the firm alone. (2) If it is a group liquidity reporting firm in a UK DLG by modification, it must complete the item on the basis of that group. |
|||||||||
Note 25 |
If it is a non-ILAS BIPRU firm, it must complete it on a solo basis. Therefore even if it has a solo consolidation waiver it must complete the item on an unconsolidated basis by reference to the firm alone. |
|||||||||
Note 26 |
(1) This item must be reported in the reporting currency. (2) If any data element is in a currency or currencies other than the reporting currency, all currencies (including the reporting currency) must be combined into a figure in the reporting currency. (3) In addition, all material currencies (which may include the reporting currency) must each be recorded separately (translated into the reporting currency). However if: (a) the reporting frequency is (whether under a rule or under a waiver) quarterly or less than quarterly; or (b) the only material currency is the reporting currency; (3) does not apply. (4) If there are more than three material currencies for this data item, (3) only applies to the three largest in amount. A firm must identify the largest in amount in accordance with the following procedure. (a) For each currency, take the largest of the asset or liability figure as referred to in the definition of material currency. (b) Take the three largest figures from the resulting list of amounts. (5) The date as at which the calculations for the purposes of the definition of material currency are carried out is the last day of the reporting period in question. (6) The reporting currency for this data item is whichever of the following currencies the firm chooses, namely USD (the United States Dollar), EUR (the euro), GBP (sterling), JPY (the Japanese Yen), CHF (the Swiss Franc), CAD (the Canadian Dollar) or SEK (the Swedish Krona). |
|||||||||
Note 27 |
Note 26 applies, except that paragraphs (3), (4), and (5) do not apply, meaning that material currencies must not be recorded separately. |
|||||||||
Note 28 |
Any changes to reporting requirements caused by a firm receiving an intra-group liquidity modification (or a variation to one) do not take effect until the first day of the next reporting period applicable under the changed reporting requirements for the data item in question if the firm receives that intra-group liquidity modification or variation part of the way through such a period. If the change is that the firm does not have to report a particular data item or does not have to report it at a particular reporting level, the firm must nevertheless report that item or at that reporting level for any reporting period that has already begun. This paragraph is subject to anything that the intra-group liquidity modification says to the contrary. |
|||||||||
Note 29 |
Only applicable to firms that hold securitisation positions in the trading book and/or are the originator or sponsor of securitisations held in the trading book. |
|||||||||
Note 30 |
FSA047, FSA048, FSA050, FSA051, FSA052, FSA053 and FSA054 must be completed by an ILAS BIPRU firm. An ILAS BIPRU firm does not need to complete FSA055. A non-ILAS BIPRU firm must complete FSA055 and does not need to complete FSA047, FSA048, FSA050, FSA051, FSA052, FSA053 and FSA054. |
|||||||||
Note 31 |
This data item must be reported only in the currencies named in FSA052, so that liabilities in GBP are reported in GBP in rows 1 to 4, those in USD are reported in USD in rows 5 to 8, and those in Euro are reported in Euro in rows 9 to 12. Liabilities in other currencies are not to be reported. |
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Note 32 |
Only applicable to firms that are collective portfolio management investment firms. |
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Note 33 |
Only applicable to firms that have a managing investmentspermission. |
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Note 34 |
Requirements under COREP and FINREP should be determined with reference to the EU CRR and applicable technical standards. |
2Table of data items from an authorised professional firm
Report |
Return (note 1) |
Frequency (Note 4)24 |
Due date |
Adequate information relating to the following activities: |
RMAR (Note 3) |
Half yearly (quarterly for sections A to E for larger firms, subject to Note 3 exemptions) (note 2) |
For half yearly report: 30 business days after period end For quarterly report: 30 business days after quarter end |
(4) 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) |
|||
Adequate information relating to mortgage lending and mortgage administration. |
MLAR |
Quarterly |
20 business days after quarter end |
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. Guidance on the completion of the data items are located at SUP 16 Annex 18B and SUP 16 Annex 19B respectively. |
||
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, mortgage mediation activity and retail investment activity. |
||
Note 3 |
A firm which submits an MLAR is not required to submit sections A and B of the RMAR. |
||
Note 4 |
Reporting dates are calculated from a firm'saccounting reference date. |