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SUP 13.5 Notices of intention

Specified contents: notice of intention to establish a branch

SUP 13.5.1RRP

A UK firm wishing to establish a branch in a particular EEA State for the first time under an EEA right must include in itsnotice of intention3 given to the FSA:

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  1. (1)
    1. (a)

      the information specified in SUP 13 Annex 1; and2

    2. (b)

      if the UK firm is passporting under the Insurance Directives, the information specified in SUP 13 Annex 2; or 2

  2. (2)

    if the UK firm is passporting under the Insurance Mediation Directive, only a statement that it intends to carry on insurance mediation in the State by establishing a branch.2

Specified contents: notice of intention to provide cross border services

SUP 13.5.2RRP

A UK firm wishing to provide cross border services into a particular EEA State for the first time under an EEA right must include, in its notice of intention3 given to the FSA:

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  1. (1)

    if the UK firm is passporting under 3MiFID or the Insurance Directives, the information specified in SUP 13 Annex 3;

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  2. (2)

    if the UK firm is passporting under the Banking Consolidation Directive, the activities which it intends to carry on.

  3. (3)

    if the UK firm is passporting under the Insurance Mediation Directive, only a statement that it intends to carry on insurance mediation in that State by provision of cross border services.2

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SUP 13.5.3RRP
  1. (1)

    The notice of intention3 under SUP 13.5.1 R and SUP 13.5.2 R must be:

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    1. (a)

      given to a member of, or addressed for the attention of, the Authorisation and Approvals Department (Authorisation teams), if submitted with an application for Part IV permission, or the Passport Notifications Unit in any other circumstances; and

    2. (b)

      delivered to the FSA by one of the methods in (2).

  2. (2)

    The notice of intention3 may be delivered by:

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    1. (a)

      post to the address in (3); or

    2. (b)

      leaving the application at the address in (3) and obtaining a time-stamped receipt; or

    3. (c)

      hand delivery to a member of the Authorisation department3 (if submitted with an application for Part IV permission) or to the Passport Notification Unit; or3

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    4. (d)

      electronic mail to the address in (4) if not submitted with an application for Part IV permission3 and obtaining an electronic confirmation of receipt; or3

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    5. (e)

      fax to the Passport Notifications Unit on 020 7066 97983 (if not submitted with an application for Part IV permission3) provided that the FSA receives a copy by one of the methods (a) to (d) above within five business days after the date of the faxed notification; or3

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    6. (f)

      online submission via the FSA's website at www.fsa.gov.uk (when available).3

  3. (3)

    The address for notices of intention is: The Financial Services Authority, 25 The North Colonnade, Canary Wharf, London E14 5HS.

  4. (4)

    Email: passport.notifications@fsa.gov.uk1

SUP 13.5.4GRP

A standard form of notice of intention3 that a UK firm may wish to use is available from the Passport Notifications Unit (see SUP 13.12 (Sources of further information)).

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Unregulated activities

SUP 13.5.5GRP

A notice of intention3 may include activities within the scope of the relevant Single Market Directive which are not regulated activities (paragraphs 19(3) and 20(2) of Part III of Schedule 3 to the Act), although in the case of a MiFID investment firm a notice of intention may only include ancillary services which are to be carried on with one or more investment services and activities (paragraphs 19(5B) and 20(2A) of Part III of Schedule 3 to the Act)3. Regulation 19 of the EEA Passport Rights Regulations states that where a UK firm is able to carry on such an unregulated activity in the EEA State in question without contravening any law of the United Kingdom (or any part of the United Kingdom) the UK firm is treated, for the purposes of the exercise of its EEA right, as being authorised to carry on that activity.1

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Translations

SUP 13.5.6G
  1. (1)

    A UK firm passporting under the Banking Consolidation Directive or the Insurance Directives may have to submit the requisite details or relevant details in the language of the Host State as well as in English . For a UK firm passporting under the Insurance Directives this translated document will not include the relevant UK details. Further information is available from the Passport Notifications Unit.

  2. (2)

    A UK firm may wish to discuss with the Passport Notifications Unitthe appropriate time for providing the translations in (1), given that further information or clarification of the details provided may be required by the FSA.

  3. (3)

    A UK firm passporting under the Insurance Directives should keep the EEA and UK relevant details separate as, if the application is approved, only the former will be sent to the Host State regulator.1

Notifications to more than one EEA State

SUP 13.5.7GRP

If a UK firm wishes to establish branches in, or provide cross border services into, more than one EEA State, a single notification may be provided but the relevant information3 for each EEA State should be clearly identifiable.

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