MIFIDPRU 8.1 Disclosure

1. (1)

   2Subject to (2) and (3), the requirements in this chapter apply to a non-SNI MIFIDPRU investment firm.

2. (2)

   MIFIDPRU 8.2 (Risk management objectives and policies), MIFIDPRU 8.4 (Own funds) and MIFIDPRU 8.5 (Own funds requirements) also apply to an SNI MIFIDPRU investment firm that has additional tier 1 instruments in issue.

3. (3)

   MIFIDPRU 8.6 (Remuneration policies and practices) applies to every MIFIDPRU investment firm.

4. (4)

   MIFIDPRU 8.7 (Investment policy) applies only to a non-SNI MIFIDPRU investment firm that does not fall within MIFIDPRU 7.1.4R(1).

2Where a non-SNI MIFIDPRU investment firm is reclassified as an SNI MIFIDPRU investment firm, it must comply with the disclosure obligations that apply to a non-SNI MIFIDPRU investment firm in relation to the financial year in which it is reclassified.

2Where an SNI MIFIDPRU investment firm is reclassified as a non-SNI MIFIDPRU investment firm, it must comply with the disclosure obligations that apply to an SNI MIFIDPRU investment firm in relation to the financial year in which it ceased to be an SNI MIFIDPRU investment firm.

2A MIFIDPRU investment firm must comply with the rules in this chapter on an individual basis, unless the firm is exempt in accordance with MIFIDPRU 2.3.1R.

2In complying with the rules in this chapter, a MIFIDPRU investment firm must provide a level of detail in its qualitative disclosures that is appropriate to its size and internal organisation, and to the nature, scope, and complexity of its activities.

2As a minimum, a firm must publicly disclose the information specified in this chapter annually on:

1. (1)

   the date it publishes its annual financial statements; or

2. (2)

   where it does not publish annual financial statements, the date on which its annual solvency statement is submitted to the FCA in accordance with requirements in SUP 16.12.

2A firm must publish the information required by this chapter in a manner that:

1. (1)

   is easily accessible and free to obtain;

2. (2)

   is clearly presented and easy to understand;

3. (3)

   is consistent with the presentation used for previous disclosure periods or otherwise allows a reader of the information to make comparisons easily; and

4. (4)

   highlights in a summary any significant changes to the information disclosed, when compared with previous disclosure periods.

2A firm is not required to comply with MIFIDPRU 8.1.13R to the extent that compliance would breach the law of another jurisdiction.