CASS 14.3 Temporary Permission Client Assets Return

1. (1)

   1A TP firm must submit a completed TPCAR to the FCA by email for each reporting period specified in CASS 14.3.3R.

2. (2)

   The TP firm must submit the TPCAR to the FCA by the deadline specified in CASS 14.3.4R.

3. (3)

   A TPCAR must be completed using the template specified at CASS 14 Annex 1R.

1The TPCAR reporting periods for the purposes of CASS 14.3.1R are:

1. (1)

   for TP firms to which either or both of CASS 6 and CASS 7 applies as a result of GEN 2.2.26R, either:

   1. (a)

      for CASS small TP firms, the initial twelve-month period 1 January 2021 to 31 December 20213, and each subsequent 12-month period; or

   2. (b)

      for CASS medium TP firms and CASS large TP firms, the initial one-month period from 1 January 2021 to 31 January 20213, and each subsequent one-month period; and

2. (2)

   for TP firms to whom as a result of GEN 2.2.26R, CASS 5 applies:

   1. (a)

      if the TP firm’s annual revenue from its business to which CASS 5 applies as a result of GEN 2.2.26R is £5 million or less:

      1. (i)

         the shorter of:

         1. (A)

            the initial period from 1 January 20213 to the firm’s accounting reference date, and

         2. (B)

            the initial period from 1 January 20213 to the last day of the six-month period after the firm’s accounting reference date; and

      2. (ii)

         each six-month period subsequent to the shorter of those initial periods; or

   2. (b)

      if the TP firm’s annual revenue from its business to which CASS 5 applies as a result of GEN 2.2.26R exceeds £5 million:

      1. (i)

         the shorter of:

         1. (A)

            the initial period from 1 January 20213 to the firm’s accounting reference date, and

         2. (B)

            the initial period from 1 January 20213 to the last day of the three-month period after the firm’s accounting reference date; and

      2. (ii)

         each three-month period subsequent to the shorter of those initial periods.

1The TPCAR submission deadlines for the purposes of CASS 14.3.1R are:

1. (1)

   for TP firms to which either or both of CASS 6 and CASS 7 applies as a result of GEN 2.2.26R, either:

   1. (a)

      for CASS small TP firms the 15th business day of the month that follows the reporting period specified in CASS 14.3.3R(1)(a)4; or

   2. (b)

      for CASS medium TP firms and CASS large TP firms, the 15th business day of the month that follows the reporting period specified in CASS 14.3.3R(1)(b)4; and

2. (2)

   for TP firms to which CASS 5 applies as a result of GEN 2.2.26R, the 30th business day after the relevant reporting period specified in CASS 14.3.3R(2)4.

1. (1)

   1This rule applies to a TP firm to which SUP 16.14.3R (Client money and asset return) applies as a result of GEN 2.2.26R(1), on the basis that it has classified itself as a CASS large firm or a CASS medium firm for the purposes of CASS 1A.

2. (2)

   A TP firm may comply with SUP 16.14.3R instead of CASS 14.3.1R provided that it has notified the FCA in advance and by email that it has elected to do so.

3. (3)

   A TP firm that makes the election under this rule must, when completing data field 8 of the CMAR:

   1. (a)

      use a separate row to distinguish between types of business activity or services which are carried on in reliance of the firm’s temporary permission and types which are not; and

   2. (b)

      clearly indicate which rows relate to a business activity or service which is carried on in reliance of the firm’s temporary permission.