Related provisions for IPRU-INV 13.14.7

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To access the FCA Handbook Archive choose a date between 1 January 2001 and 31 December 2004 (From field only).

(1) “Annual income” is the annual income from the firm’sdesignated investment business as given in its reporting form in (3) drawn up at its most recent accounting reference date. (2) In (1), the most recent accounting reference date is the last one for which the firm reported annual income.(3) The relevant reporting form under SUP 16.12 is the Retail Mediation Activities Return (RMAR) (Section B: Profit and Loss Account).4(4) If the firm’s most recent reporting form does not
Annual income must include the following amounts due to the firm in respect of its designated investment business: (1) brokerage;(2) fees;(3) commissions; and(4) other related income (for example, administration charges2 or profit shares).
If a firm is a principal, its annual income includes amounts due to its appointed representative for activities related to designated investment business for which the firm has accepted responsibility.
If a firm is a network, its annual income should include the relevant income due to all of its appointed representatives for designated investment business.
3To the extent that a firm4 has provided the information required by FEES 4.4.7 D to the FCA as part of its compliance with another provision of the Handbook, it is deemed to have complied with the provisions of that direction.444
If a firm ceases to be a participant firm or carry out activities within one or more classes54 part way through a financial year6 of the compensation scheme:44(1) it will remain liable for any unpaid levies which the FSCS has already made on the firm; and41(2) the FSCS may make one or more levies4 upon it (which may be before or after the firm5 has ceased to be a participant firm or carry out activities within one or more classes5,4 but must be before it ceases to be an authorised