SUP 16.19 1Immigration Act compliance reporting

1. (1)

   This section applies to a firm which is subject to the prohibition on opening a current account for a disqualified person in section 40 of the Immigration Act 2014.

2. (2)

   This section does not apply to a branch of a firm where the branch is established outside the United Kingdom.

[Note: A firm is subject to the prohibition in section 40 of the Immigration Act 2014 if it is a “bank” or “building society” for the purposes of section 42 of the Immigration Act 2014.]

A firm must report its compliance with section 40 of the Immigration Act 2014 to the FCA annually.

A firm must report its compliance in the form specified in SUP 16 Annex 1AR using the appropriate online systems accessible from the FCA's website.

A firm which is subject to SUP 16.7A (Annual reports and accounts) must report its compliance at the same time that it submits its annual reports and accounts to the FCA.

A firm which is not subject to SUP 16.7A (Annual reports and accounts) must report its compliance within four months after its accounting reference date.