LLD 15.2 Requirement to report to the FSA23

The Society must report to the FSA within 6 months of the end of each financial year on its financial situation and solvency and on the whole of the insurance business carried on by members.

The report in LLD 15.2.1 R must be prepared in accordance with PRU 1.3.5 R2 and this chapter.

The report in LLD 15.2.1 R must include:

1. (1)

   the Lloyd's Return which comprises a completed set of the forms set out in LLD 15 Annex 1 R, together with any statements, notes, reports or certificates required by this chapter; and

2. (2)

   a copy of the syndicate accounts for each syndicate that is required by byelaw to prepare accounts for the financial year.

With the exception of the statements required to be annexed to the Lloyd's Return by LLD 15.3.6 R, the4 Lloyd's Return must be examined and reported on by the auditors appointed to audit the affairs of the Society.

The Society must provide a printed copy of the Lloyd's Return to the FSA, with Form 13 signed by three signatories who are senior officers of the Society each duly authorised by the Council to sign the Lloyd's Return on behalf of the Society.

If the FSA notifies the Society that any part of the Lloyd's Return is not in conformity with this chapter, the Society must promptly make any appropriate corrections or adjustments and if necessary re-submit the Lloyd's Return (or relevant part of it).