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. (aa)

      14which is a P2P platform operator which facilitates entry into a regulated mortgage contract, home purchase plan, home reversion plan or regulated sale and rent back agreement where the lender or provider does not require permission to enter into the transaction; or

   3. (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

   4. (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 firm14:

   1. (a)

      14in which the rights and obligations of the lender under a regulated mortgage contract are vested; or

   2. (b)

      14which is a P2P platform operator which facilitates entry into a regulated mortgage contract where the lender does not require permission to enter into the transaction.

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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)

   The following types of firm14 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 are14 not subject to the requirement in (1) to submit a data report (or to the requirement in SUP 16.11.9 R:14

   6
   1. (a)

      14a SRB agreement provider; and

   2. (b)

      14a P2P platform operator which facilitates entry into a regulated sale and rent back agreement where the provider does not require permission to enter into the transaction.

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 credit13; and

   8
8. (8)

   home credit loan agreements.8

7A performance data report must contain performance data in respect of regulated mortgage contracts other than legacy CCA mortgage contracts12.

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

14Where a P2P platform operator facilitates an arrangement under which a number of persons provide home finance to a single customer, either individually under separate contracts, or jointly and severally under a single contract:

1. (1)

   the sales data report and performance data report of the P2P platform operator must include data in respect of the arrangement taken as a whole, as though it comprised a single transaction; and

2. (2)

   the sales data report and performance data report of any firm which is the lender or provider under any separate contract forming part of the arrangement must include data in respect of that contract.

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.

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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.