SUP 11.9 Changes in close links
Requirement to notify changes in close links1
A firm must notify the FSA that it has become or ceased to be closely linked with any person. The notification must include the information set out in SUP 16.5.4 R(4).1
Guidance on what constitutes a close link is provided in COND 2.3.
The FSA may ask the firm for additional information following a notification under SUP 11.9.1 R in order to satisfy itself that the firm continues to satisfy the threshold conditions (see SUP 2: Information gathering by the FSA on its own initiative).
Timing of notification requirement1
1The firm must make a notification to the FSA under SUP 11.9.1 R:
Electing to notify changes in close links monthly1
- (1)
A firm elects to report changes in close links on a monthly basis by sending a written notice of election to the firm's usual supervisory contact at the FSA.
- (2)
An election to report changes in close links on a monthly basis will stand until such time as the firm gives its usual supervisory contact at the FSA at least one month's written notice of its intention to cease reporting changes in close links on a monthly basis.