SUP 16.21 1Reporting under the MCD Order for CBTL firms
Application
This section applies to a CBTL firm that enters into or promises to enter into a CBTL credit agreement as lender, or a CBTL firm in which the rights and obligations of the lender under a CBTL credit agreement are vested.
Purpose
The purpose of this section is to direct CBTL firms in relation to:
the information that they must provide to the FCA on their CBTL business and their compliance with requirements imposed by Schedule 2 to the MCD Order; and
the time at which, and the manner and form in which, they must provide that information.
[Note: article 18(1)(c) of the MCD Order]
The purpose of this section is also to make provision for CBTL firms in relation to the failure to submit reports.
Reporting requirement
- (1)
A CBTL firm must submit a duly completed consumer buy-to-let return to the FCA.
- (2)
The return referred to in (1) must be submitted:
- (a)
in the format set out in SUP 16 Annex 39AD; guidance notes for the completion of the return are set out in SUP 16 Annex 39BG;
- (b)
online through the appropriate systems accessible from the FCA’s website; and
- (c)
within 30 business days following the end of the reporting period.
- (a)
- (3)
The reporting period is the four calendar quarters beginning on 1 April.
SUP 16.3.11R (Complete reporting) and SUP 16.3.13R (Timely reporting) apply as directions to a CBTL firm in relation to CBTL business as if a reference to firm in these provisions were a reference to a CBTL firm.
SUP 16.3.14R (Failure to submit reports) applies to a CBTL firm in relation to CBTL business as if a reference to firm in that rule were a reference to a CBTL firm.