SUP 16.3 General provisions on reporting
Application
The effect of SUP 16.1.1 R is that this section applies to every firm except an ICVC42.
42The effect of SUP 16.1.1R is that this section applies to a TP firm and Gibraltar-based firm of a type listed in SUP 16.1.3R, as a firm to which SUP 16.27 applies.
Structure of the chapter
This chapter has been split into the following 14sections, covering:
53514- (1)
annual controllers reports (SUP 16.4);
- (2)
annual close links reports (SUP 16.5);
- (3)
compliance reports (SUP 16.6);
- (4)
[deleted]24
24 - (4A)
- (5)
persistency reports (SUP 16.8);
53 - (6)
45[deleted];
- (7)
verification38 of firm details34 (SUP 16.10);58
14 - (8)
product sales data reporting (SUP 16.11);
51419 - (9)
integrated regulatory reporting (SUP 16.12);
20 - (10)
reporting under the Payment Services Regulations (SUP 16.13)49;20
19 - (11)
client money and asset return (SUP 16.14);2021
25 - (12)
reporting under the Electronic Money Regulations (SUP 16.15)49; and38
23 - (13)
- (14)
49remuneration reporting (SUP 16.17);
252527 - (15)
AIFMD reporting (SUP 16.18); 30
2727 - (16)
38reporting under the MCD Order for CBTL firms (SUP 16.21).
- (17)
reporting under the Payment Accounts Regulations (SUP 16.22);36 32
3031 - (18)
annual financial crime reporting (SUP 16.23);37
363231 - (18A)
employers’ liability register compliance reporting (SUP 16.23A);
36 - (19)
retirement income data reporting (SUP 16.24); 39
3732 - (20)
claims management reporting (SUP 16.25); 41
3739 - (21)
Directory persons information reporting (SUP 16.26);
3941 - (22)
- (23)
Home insurance and motor insurance pricing reporting (SUP 16.28).43
Further requirements about the reports, such as form and content, are set out in the sections for each category of firm, where this is appropriate. In many cases, however, it is more appropriate to provide this information by means of a separate annex; in these cases the relevant section refers to the annex.
How to submit reports
A periodic report required to be submitted under this chapter, or under any other rule, must be submitted in writing in accordance with SUP 16.3.7 R to SUP 16.3.10 G, unless:
- (1)
a contrary intention appears; or
- (2)
the report is required under the listing rules. 2
- (1)
give the firm reference number (or all the firm reference numbers in those cases where a report is submitted on behalf of a number of firms, as38 set out in SUP 16.3.25 G)13; and
4949 - (2)
if submitted in paper form, be submitted with the cover sheet contained in SUP 16 Annex 13 R4949 fully completed13.21
Method of submission of reports (see SUP 16.3.8 R)
Method of delivery |
|
1. |
Post or hand deliver33 to the published address of the FCA49 for submission of reports. If hand delivering mark the report for the attention of ‘Central Reporting’ and obtain a dated receipt.33 49 |
2. |
[deleted]33 224949 |
3. |
Electronic mail to the published e-mail address 33of the FCA's49 Central Reporting team.22 2249 |
4.22 |
Online submission via the appropriate systems accessible from the22 FCA28 website 4949822 |
8
- (1)
The 33published address of the FCA49 for postal submission of reports is:
49Central Reporting22
The Financial Conduct49 Authority
49PO BOX 35747
London E14 5WP
- (2)
The 33published address of the FCA49 for hand delivery of reports is:
49- (a)
Central Reporting22
The Financial Conduct Authority38
494912 Endeavour Square35
London, E20 1JN35
if the firm's usual supervisory contact at the FCA28 is based in London, or:
4949 - (b)
Central Reporting33
The Financial Conduct Authority38
4949Quayside House
127 Fountainbridge
Edinburgh EH3 8DJ
if the firm's usual supervisory contact at the FCA49 is based in Edinburgh.2
49
- (a)
- (3)
The current published email address 33for the FCA’s Central Reporting team is regulatory.reports@fca.org.uk. Please note that the 33Central Reporting team does not handle general correspondence between firms and the FCA, and will not respond to queries3338. Accordingly, firms should not make submissions to the Central Reporting team’s email address33 other than as directed in SUP 16.3.8R.
2233494949332833494933
Complete reporting
Timely reporting
- (1)
A firm must submit a report required by this chapter in the frequency, and so as to be received by the FCA28 no later than the due date, specified for that report.
4949 - (2)
If the due date for submission of a report required by this chapter falls on a day which is not a business day, the report must be submitted so as to be received by the FCA28 no later than the first business day after the due date.
4949 - (3)
If the due date for submission of a report required by this chapter is a set period of time after the quarter end, the quarter ends will be the following dates, unless another rule or the reporting form states otherwise:
- (a)
- (b)
3 months after the firm's accounting reference date;
- (c)
6 months after the firm's accounting reference date; and
- (d)
9 months after the firm's accounting reference date.
- (4)
If the due date for submission of a report required by this chapter is a set period of time after the end of a half-year, a quarter, or a month, the dates will be determined by (a) or (b) below except where otherwise indicated:5
- (a)
the firm's accounting reference date;5 or38
- (b)
monthly, 3 monthly or 6 months after the firm's accounting reference date, as the case may be.5
- (a)
Failure to submit reports
9Failure to submit a report in accordance with the rules in, or referred to in,12 this chapter or the provisions of relevant legislation12 may also lead to the imposition of a financial penalty and other disciplinary sanctions. A firm may be subject to reporting requirements under relevant legislation other than the Act, not referred to in this chapter. An example of this is reporting to the FCA28 by building societies under those parts of the Building Societies Act 1986 which have not been repealed (see SUP 16.1.4 G).12 If it appears to the FCA28 that, in the exceptional circumstances of a particular case, the payment of any fee would be inequitable, the FCA28 may reduce or remit all or part of the fee in question which would otherwise be payable (see 10FEES 2.3).10
1649494949494949The firm is responsible for ensuring delivery of the required report38 by the due date. If a report is received by the FCA28 after the due date and the firm believes its delivery arrangements were adequate, it may be required to provide proof of those arrangements. Examples of such proof would be:
494949- (1)
"proof of posting" receipts from a UK post office or overseas equivalent which demonstrates that the report was posted early enough to allow delivery by the due date in accordance with the delivery service standards prescribed by the relevant postal authority; or
- (2)
recorded postal delivery receipts showing delivery on the required day; or
- (3)
records of a courier service provider showing delivery on the required day.
Change of accounting reference date
- (1)
A firm must notify the FCA28 if it changes its accounting reference date.
4949 - (2)
When a firm extends its accounting period, it must make the notification in (1) before the previous accounting reference date.
- (3)
When a firm shortens its accounting period, it must make the notification in (1) before the new accounting reference date.4
- (4)
SUP 16.10.4A R to SUP 16.10.4C G (Requirement to check the accuracy of standing data and to report changes to the FCA38) apply to any notification made under (1).18
4934284949
SUP 16.2.1 G emphasises the importance to the FCA28 of timely and accurate information. The extension of a firm's accounting period to more than 15 months may hinder the timely provision of relevant and important information to the FCA.38 This is because many due dates for reporting to the FCA28 are linked to firms' accounting reference dates. Indeed, for some categories of firm, the only reports required by the FCA28 have due dates for submission which are linked to the firm's accounting reference date. If38 the extension of a firm's accounting period appears likely to impair the effectiveness of the FCA28 supervisory work, the FCA28 may take action to ensure that it continues to receive the information it requires on a timely basis.38
49492849494949494949494949If more than one firm in a group intends to change its accounting reference date at the same time, a single notification may be given to the FCA,38 as described in SUP 15.7.8 G.
284949[deleted]38
[deleted]38
Service of Notices Regulations
Confidentiality and sharing of information
When the FCA28 receives a report which contains confidential information and whose submission is required under this chapter, it is obliged under Part 23 of the Act38 (Public Record, Disclosure of Information and Co-operation) to treat that information as confidential (see41 SUP 2.2.4G).41
494949493849SUP 2.3.12AG states that the FCA38 may pass to other regulators information which it has in its possession. Such information includes information contained in reports submitted under this chapter. The FCA’s disclosure of information to other regulators is subject to SUP 2.2.4G38 (Confidentiality of information). Also, some value measures data in SUP 16.27 is used by the FCA to create published guidance. This public disclosure is to assist the FCA to discharge its public functions.41
49284928494949Reports from groups
If this chapter requires the submission of a report or data item13 covering a group, a single report or data item13 may be submitted, and so satisfy the requirements of all firms in the group. Such a report or data item13 should contain the information required from all of them, meet all relevant due dates and indicate all the firms on whose behalf it is submitted; if necessary a separate covering sheet should list the firms on whose behalf a report or data item13 is submitted. Nevertheless, the requirement to provide a report or data item13, and the responsibility for the report or data item13, remains6 with each firm in the group. However, reporting requirements that apply to a firm, by reason of the firm being a member of a financial conglomerate, are imposed on only one member of the financial conglomerate (see, for example, SUP 16.12.32 R14).6
14Examples of reports covering a group are:
- (1)
the compliance reports required from banks under SUP 16.6.4 R;
- (2)
annual controllers reports required under SUP 16.4.5 R4949;
- (3)
annual close links reports required under SUP 16.5.4 R;44
- (4)
consolidated financial reports required from banks under SUP 16.12.5 R2424;
- (5)
consolidated reporting statements required from securities and futures firms under 24SUP 16.12.11 R24.44
17