SUP 16.17 Remuneration reporting

In this section "UK lead regulated group" means a UK consolidation group that is headed eitherby an EEA parent institution or by an EEA parent financial holding company.

1. (1)

   A firm to which this rule applies must submit a High Earners Report to the appropriate regulator10 annually.

   10
2. (2)

   The firm must submit that report to the appropriate regulator10 within four months of the end of the firm's accounting reference date.

   10
3. (3)

   A firm that is not part of a UK lead regulated group must complete that report on an unconsolidated basis in respect of remuneration awarded in the last completed financial year to all high earners of the firm who mainly undertook their professional activities within the EEA.

4. (4)

   A firm that is part of a UK lead regulated group must not complete that report on either a solo consolidation basis or an unconsolidated basis. The firm must complete that report on a consolidated basis in respect of remuneration awarded in the last completed financial year to all high earners who mainly undertook their professional activities within the EEA at:

   1. (a)

      the EEA parent institution or EEA parent financial holding company of the UK lead regulated group; and

   2. (b)

      each subsidiary of the UK lead regulated group that has its registered office (or, if it has no registered office, its head office) in an EEA State; and

   3. (c)

      each branch of the UK lead regulated group that is established or operating in an EEA State.

5. (5)

   The firm must complete a separate template, in the format set out in SUP 16 Annex 34A R, for each EEA State in which there is a high earner. Those templates together form the report.

6. (6)

   High earners who carried out their professional activities in an EEA State should be classified under that EEA State.[deleted]

7. (7)

   High earners who carried out their professional activities in more than one EEA State should be classified under the EEA State where they mainly undertook their professional activities.

8. (8)

   [deleted]2

   2
9. (9)

   The information in the reportmust be denominated in euros determined, if necessary, by reference to the conversion rate table specified from time to time by the European Banking Authority as applicable to that year's High Earners Report.

10. (10)

    This rule applies to a bank, building society and an investment firm2 that

    2
    1. (a)

       is not a IFPRU2 limited licence firm or a IFPRU2 limited activity firm; and

       22
    2. (b)

       is not, and does not have, an EEA parent institution or an EEA parent financial holding company.

11. (11)

    This rule also applies to bank, building society and an investment firm2that :

    2
    1. (a)

       is not a IFPRU2 limited licence firm or a IFPRU2 limited activity firm; and

       22
    2. (b)

       is part of a UK lead regulated group.

12. (12)

    This rule also applies to a IFPRU2 limited licence firm or a IFPRU2 limited activity firm:

    22
    1. (a)

       that is part of a UK lead regulated group; and

    2. (b)

       where that UK lead regulated group contains either:2

       2
       1. (i)

          a bank, building society or an investment firm that is not an IFPRU limited licence firm or an IFPRU limited activity firm; or2

       2. (ii)

          an overseas firm that;2

          1. (A)

             is not an EEA firm;2

          2. (B)

             has its head office outside the EEA; and2

          3. (C)

             would be a bank, building society or an investment firm that is not a IFPRU limited licence firm or IFPRU limited activity firm, if it had been a UK domestic firm, had carried on all of its business in the UK and had obtained whatever authorisations for doing so as are required under the Act.2

13. (13)

    This rule also applies to an overseas firm that:2

    1. (a)

       is not an EEA firm;2

    2. (b)

       has its head office outside the EEA;2

    3. (c)

       would bea bank, building society or an investment firm that is not a IFPRU limited licence firm or IFPRU limited activity firm, if it had been a UK domestic firm, had carried on all of its business in the UK and had obtained whatever authorisations for doing so as are required under the Act,2

    and either:

    1. (d)

       is not, and does not have, an EEA parent institution oran EEA parent financial holding company; or2

    2. (e)

       is part of a UK lead regulated group.2