SUP 16.11 1Product Sales Data Reporting

This section2 applies:

1. (1)

   in relation to sales data reports, to a firm:10

   10
   1. (a)

      which is a home finance provider; or

   2. (b)

      which has permission to enter into a regulated credit agreement as lender in respect of high-cost short-term credit or home credit loan agreements; or

   3. (c)

      which is, in respect of sales to a retail client or a consumer:

      1. (i)

         an insurer; or

      2. (ii)

         the manager of an authorised AIF or a UCITS scheme; or

      3. (iii)

         the operator of an investment trust savings scheme, or a personal pension scheme; or

      4. (iv)

         a person who issues or manages the relevant assets of the issuer of a structured capital-at-risk product;

      unless the firm is a managing agent;10

2. (2)

   in relation to performance data reports, to a firm in which the rights and obligations of the lender under a regulated mortgage contract are vested.10

   1041010

1. (1)

   A firm must submit a report (a 'data report') containing the information required by:7

   7
   1. (a)

      SUP 16.11.5 R (a 'sales data report') within 20 business days of the end of the reporting period; and

      7
   2. (b)

      for regulated mortgage contracts, SUP 16.11.5A R (a 'performance data report'), within 30 business days of the end of the reporting period;

      7

   unless 11(3A) or (4) applies.7

2. (2)

   The reporting periods are;7

   7
   1. (a)

      7for sales data reports, the four calendar quarters of each year beginning on 1 January; and

   2. (b)

      7for performance data reports, the six month periods beginning on 1 January and 1 July in each calendar year.

3. (3)

   [deleted]11

   11
4. (3A)

   A firm must submit a nil return if no relevant sales have occurred in the quarter.11

5. (4)

   6A SRB agreement provider must compile, and keep for at least five years from the end of the relevant quarter, a data report containing the information required by SUP 16.11.5 R, but is not subject to the requirement in (1) to submit a data report (or to the requirement in SUP 16.11.9 R).

A sales7 data report must contain sales data in respect of the following products:

1. (1)

   retail investments;

2. (2)

   pure protection contracts;

   3
3. (3)

   regulated mortgage contracts (but not further advances);3

4. (4)

   home purchase plans;3

   6
5. (5)

   home reversion plans; 63

   8
6. (6)

   6regulated sale and rent back agreements;8

   8
7. (7)

   High-cost short-term credit; and8

8. (8)

   home credit loan agreements.8

7A performance data report must contain performance data in respect of regulated mortgage contracts.

A7 data report must comply with the provisions of SUP 16 Annex 21R.

A sales7 data report must relate both to transactions undertaken by the firm and to transactions undertaken by an intermediary which has dealt directly with the customer on the firm's behalf.2

A firm must provide a 7data report to the FCA17 electronically in a standard format provided by the FCA17.

1. (1)

   A firm may appoint another person to provide a 7data report on the firm's behalf if the firm has informed the FCA17 of that appointment in writing.

   717
2. (2)

   Where (1) applies, the firm must ensure that the data report complies with the requirements of SUP 16.11 and identifies the originator of the transaction.