This chapter applies to every firm within a category listed in column (2) of the table in SUP 16.1.3 R and in accordance with column (3) of that table.

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. (1)

   a contrary intention appears; or

2. (2)

   the report is required under the listing rules. 2

A report or data item13 must:

1. (1)

   give the firm's FSA firm reference number (or all the firms' FSA firm reference numbers in those cases where a report is submitted on behalf of a number of firms,as set out in SUP 16.3.25 G)13; and

2. (2)

   if submitted in paper form, be submitted with the cover sheet contained in SUP 16 Annex 13 fully completed13.21

A written report must be:

1. (1)

   given to or addressed for the attention of the firm's usual supervisory contact at the FSA; and

2. (2)

   delivered to the FSA by one of the methods listed in SUP 16.3.9 R.

A firm must submit reports required under this chapter to the FSA containing all the information required.

1. (1)

   A firm must submit a report required by this chapter in the frequency, and so as to be received by the FSA no later than the due date, specified for that report.

2. (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 FSA no later than the first business day after the due date.

3. (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:

   1. (a)

      the firm's accounting reference date;

   2. (b)

      3 months after the firm's accounting reference date;

   3. (c)

      6 months after the firm's accounting reference date; and

   4. (d)

      9 months after the firm's accounting reference date.

4. (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

   1. (a)

      the firm's accounting reference date;5

   2. (b)

      monthly, 3 monthly or 6 months after the firm's accounting reference date, as the case may be.5

1. (1)

   If a firm does not submit a complete report by the date on which it is due in accordance with the rules in, or referred to in,12 this chapter or the provisions of relevant legislation12 and any prescribed submission procedures, the firm must pay an administrative fee of £250.15

2. (2)

   The administrative fee in (1) does not apply in respect of quarterly reports required to be submitted by credit unions whose liability to pay a periodic fee under FEES 4.2.1 R in respect of the A.1 activity group in FEES 4 Annex 1R, for the financial year prior to the due date for submission of the report, was limited to the payment of the minimum fee11.15

1. (1)

   A firm must notify the FSA if it changes its accounting reference date.

2. (2)

   When a firm extends its accounting period, it must make the notification in (1) before the previous accounting reference date.

3. (3)

   When a firm shortens its accounting period, it must make the notification in (1) before the new accounting reference date.4

4. (4)

   SUP 16.10.4A R to SUP 16.10.4C G (Method of reporting Requirement to check the accuracy of standing data and to report changes to the FSA changes in standing data) apply to any notification made under (1).18

1. (1)

   Paragraph (2) applies in relation to reports required under this chapter within the scope of any arrangements made by the FSA with the Society of Lloyd's under paragraph 6(2) of Schedule 1 to the Act.

2. (2)

   An underwriting agent must submit the reports in (1) to the Society of Lloyd's rather than to the FSA.

1. (1)

   A firm must submit a report to the FSA annually, containing the information in (3) or (4) (as applicable).

2. (2)

   A firm must submit the report in (1) to the FSA within four months of the firm'saccounting reference date.

3. (3)

   If a firm is not aware:

   1. (a)

      that it has any controllers; or

   2. (b)

      of any changes in the identity of its controllers since the submission of its previous report under (1); or

   3. (c)

      of any changes in the percentage of shares or voting power in the firm held by any controllers (alone or acting in concert8) since the submission of its previous report;

      8

   then the report in (1) must confirm this.

4. (4)

   Unless (3) applies, the report in (1) must contain a list of all the controllers as at the firm'saccounting reference date of which it is aware and, for each such controller, state:

   1. (a)

      its name;

   2. (b)

      the percentage of voting power in the firm, or in the firm'sparent undertaking, which it is entitled to exercise or control the exercise of, whether alone or acting in concert8;

      8
   3. (c)

      the percentage of shares in the firm, or in the firm'sparent undertaking, which it holds, whether alone or acting in concert8;

      8
   4. (d)

      if the controller is a body corporate, its country of incorporation, address and registered number; and

   5. (e)

      if the controller is an individual, his date and place of birth.

5. (4A)

   5A firm that is a regulated entity must include in its report to the FSA under (1) whether any consolidation group of which it is a member is a third-country banking and investment group.

6. (4B)

   5A firm does not have to give notice to the FSA under (4A) if it, or another member of the third-country banking and investment group, has already given notice to the FSA of the relevant fact.

7. (5)

   [deleted]8

   8

If a firm is a friendly society or a building society, then it is required to submit a report under SUP 16.4.5 R only if it is aware that it has a controller.4

3In SUP 16.4.5 R and SUP 16.4.10 R, a building society may regard a person as not being a controller if that person is exempt from the obligation to notify a change in control under The Financial Services and Markets Act 2000 (Controllers) (Exemption) Order 2009 (SI 2009/7748) (see SUP 11.3.2A G (2)).

4An insurer need not submit a report under SUP 16.4.5 R to the extent that the information has already been provided to the FSA under IPRU(INS) 9.30R (Additional information on controllers).

1. (1)

   A firm must submit a report to the FSA annually by completing the Close Links Notification Form (see SUP 11.9.3 AG) and must include5 the information in (3) or (4) (as applicable) and (5)5.

2. (2)

   A firm must submit the report in (1) to the FSA within four months of the firm'saccounting reference date.

3. (3)

   If a firm is not aware:

   1. (a)

      that it has any close links; or

   2. (b)

      of any material changes to the details in (4) (a) to (c) in respect of its close links since the submission of its previous report under (1);

   then the report in (1) must confirm this.

4. (4)

   Unless (3) applies, the report in (1) must contain a list of all persons with whom the firm has close links as at the firm'saccounting reference date of which it is aware, and for each such person state:

   1. (a)

      its name;

   2. (b)

      the nature of the close links;

   3. (c)

      if the close link is with a body corporate, its country of incorporation, address and registered number; and

   4. (d)

      if the close link is with an individual, his date and place of birth.

5. (5)

   The firm must also submit a group organisation chart.5

If a firm is an unincorporated friendly society, then it is only required to submit a report under SUP 16.5.4 R if it is aware that it has close links.

A bank must submit compliance reports to the FSA in accordance with SUP 16.6.5 R.

A firm within a category listed in the left-hand column of SUP 16.6.7 R must submit compliance reports in accordance with SUP 16.6.7 R.

1. (1)

   The report from a trustee of an AUT to the FSA must state, in relation to the manager of each AUT for which it is a trustee, the number of times during the quarter in which facts came to the firm's knowledge from which it appeared, or might have appeared, that the manager had failed (materially or otherwise) to:

   1. (a)

      give correct instructions to the trustee to create or cancel units in the AUT when the manager should have done so, and the error:

      1. (i)

         resulted in the creation of too few units or in the cancellation of too many units; and

      2. (ii)

         was not corrected in accordance with the FSA'sguidance as set out inCOLL 6.2.12 G;3

         33
   2. (b)

      price units in the AUT in accordance with COLL 6.3 3 where the pricing error was:

      33
      1. (i)

         greater than 0.5% of the price of a unit; or

      2. (ii)

         less than 0.5% of the price of a unit, and the trustee did not consider the manager's controls to be adequate;

   unless the failure was an isolated incident.

2. (2)

   The report from a depositary of an ICVC to the FSA must state, in relation to the authorised corporate director of each ICVC for which the firm is a depositary, the number of times during the quarter in which facts came to the firm's knowledge from which it appeared,3 or might have appeared,3 that the authorised corporate director had failed (materially or otherwise) to:

   1. (a)

      arrange for the issue3 or cancellation of shares in the ICVC when the authorised corporate director should have done so, and the error:

      3
      1. (i)

         resulted in the creation of too few shares or in the cancellation of too many shares; and

      2. (ii)

         was not corrected in accordance with the FSA'sguidance as set out in COLL 6.2.12 G;3

         3
   2. (b)

      price shares in the ICVC in accordance with the provisions of COLL 6.3 3, where the pricing error was:

      3
      1. (i)

         greater than 0.5% of the price of a share; or

      2. (ii)

         less than 0.5% of the price of a share, and the depositary did not consider the authorised corporate director's controls to be adequate;

   unless the failure was an isolated incident.

3. (3)

   An OPS firm must notify the FSA of any change in the date of commencement of the scheme year of an OPS or OPS collective investment scheme, in respect of which the firm is acting, not less than 15 business days before the date on which such a change is to become effective.2

1. (1)

   1An insurer with permission to effect orcarry outlife policies must submit to the FSA a persistency report in respect of life policies by 30 April each year in accordance with this section.

2. (2)

   A firm with permission to establish, operate or wind up a stakeholder pension scheme must submit to the FSA:

   1. (a)

      a data report on stakeholder pensions by 30 April each year prepared in accordance with this section; and

   2. (b)

      two extra data reports on stakeholder pensions prepared in accordance with this section as follows:

      1. (i)

         by 31 October 2002, of the number effected in the period to 30 June 2001 and the number of those still in force 12 months after the contract was effected;

      2. (ii)

         by 31 January 2003, of the number effected in the period 1 July 2001 to 30 September 2001 and the number of those still in force 12 months after the contract was effected.

1In this section, and Forms 1R(2) to (4) in SUP 16 Annex 6R:

1. (1)

   '12 month report' means the part of a persistency report or data report reporting on life policies or stakeholder pensions effected in Y-2, '24 month report' means the part of a persistency report or data report reporting on life policies or stakeholder pensions effected in Y-3, and so on;

2. (2)

   'CC' means the number of life policies or stakeholder pensions which:

   1. (a)

      were effected during the period to which the calculation relates; and

   2. (b)

      are reported on in the persistency report or data report (see SUP 16.8.8 R to SUP 16.8.15 R);

3. (3)

   'CF' means the number of life policies or stakeholder pensions within 'CC' which are treated as in force at the end of Y-1 or, for a report under SUP 16.8.3 R (2) (b), the relevant 12 month period (see SUP 16.8.16 R to SUP 16.8.18 R);

4. (4)

   'contract anniversary' means the anniversary of the date on which the life policy or stakeholder pension was effected falling within Y-1;

5. (5)

   'data report' means a report in respect of stakeholder pensions complying with SUP 16.8.19 R to SUP 16.8.21 R;

6. (6)

   Forms 1R(1), 1R(2), 1R(3) and 1R(4) mean the forms in SUP 16 Annex 6;

7. (7)

   'group personal pension policy' means a life policy which is not a separate pension scheme, effected under a collecting arrangement made for the employees of a particular employer to participate in a personal pension arrangement on a group basis;

8. (8)

   [deleted]

9. (9)

   'mortgage endowment' means an endowment assurance effected or believed to be effected for the purposes of paying off a loan on land;

10. (10)

    'new', in relation to a stakeholder pension, has the meaning given in SUP 16.8.11 R (2);

11. (11)

    'ordinary assurance policy' means a life policy which is not an industrial assurance policy;

12. (12)

    'other life assurance' means a life policy other than a pension policy, endowment assurance or whole life assurance;

13. (13)

    'other pension policy' means a pension policy other than a personal pension policy;

14. (14)

    'persistency rate' means a rate calculated using this formula:CF x 100/CC(see the example in SUP 16.8.5 G);

15. (15)

    'persistency report' means a report in respect of life policies complying with SUP 16.8.19 R to SUP 16.8.21 R;

16. (16)

    'regular premium life policy' means a life policy where there is (or could be, or has been) a commitment by the policyholder to make a regular stream of contributions (for example by means of a direct debit mandate);

17. (17)

    'regular premium stakeholder pension' means a stakeholder pension where there is (or could be, or has been) a commitment by the policyholder to make a regular stream of contributions;

18. (18)

    'single premium life policy' means a life policy that is not a regular premium life policy, except that a recurrent single premium life policy must be treated as a regular premium life policy;

19. (19)

    'single premium stakeholder pension' means a stakeholder pension which is not a regular premium stakeholder pension, except that a recurrent single premium stakeholder pension must be treated as a regular premium stakeholder pension;

20. (20)

    'stakeholder pension' means an individual's rights under a stakeholder pension scheme;

21. (21)

    'substitute', in relation to stakeholder pension, has the meaning given in SUP 16.8.11 R (2);

22. (22)

    'Y' means the year in which the report must be submitted, 'Y-1' means the preceding year, 'Y-2' means the next earlier year and so on;

23. (23)

    'year' means calendar year, unless SUP 16.8.7 R applies.

1In relation to a persistency report, a firm may treat a 12-month period ending between 1 October and 31 March as a 'year' for the purposes of this section and Forms 1R(1) to (3):

1. (1)

   if the firm's financial year does not end on 31 December; or

2. (2)

   for industrial assurance policy business;

provided that the use of an alternative period is disclosed in the persistency report.

1A persistency report or data report must report on a life policy or stakeholder pension if:

1. (1)

   it is not of a type listed in SUP 16.8.13 R or SUP 16.8.14 R;

2. (2)

   it was effected by:

   1. (a)

      the firm submitting the report; or

   2. (b)

      an unauthorised member of the group of the firm submitting the report and in circumstances in which that firm was responsible for the promotion of that life policy or stakeholder pension; or

   3. (c)

      another firm, but is being carried out by the firm submitting the report; and

3. (3)

   the person who sold it or who was responsible for its promotion was, in so doing, subject to rules in COBS5.

   56

1 Life policies falling within SUP 16.8.8 R, which were sold subject to the conduct of business rules of a previous regulator, need to be reported only if they were required to be reported on by the rules of the previous regulator of the firm submitting the report.

1. (1)

   1A life policy or stakeholder pension which was issued in substitution for a similar contract may be treated as being effected on the inception date of the previous life policy or stakeholder pension, provided that the firm is satisfied that no loss to the policyholder is attributable to the substitution;

2. (2)

   A stakeholder pension which is treated as in (1) is a "substitute" stakeholder pension. A "new" stakeholder pension is any other stakeholder pension.

1A persistency or data report must not report on any of the following:

1. (1)

   a life policy or stakeholder pension that was cancelled from inception whether or not this was as a result of service of a notice under the rules on cancellation (COBS 15)5;

   5
2. (2)

   an appropriate personal pension scheme to which contributions are made only by the Department of Social Security;

3. (3)

   a life policy (excluding income withdrawal) or stakeholder pension which has terminated as a result of death, critical illness, retirement, maturity or other completion of the contract term;

4. (4)

   income withdrawals that have ceased as a result of the death of the policyholder;

5. (5)

   in the case of a persistency report only, a life policy which is a stakeholder pension;

6. (6)

   a life policy purchased by the trustees of an occupational pension scheme2 which is a defined benefits pension scheme;

7. (7)

   a life policy purchased by the trustees of an executive money purchase occupational pension scheme.

1A persistency report required by SUP 16.8.3 R (1) need not report on a life policy if the number of life policies on substantially the same terms effected by the relevant firm (or member of the firm'sgroup) in the relevant year did not exceed the higher of fifty and 1% of the total reportable life policies effected by the person in that year.

1If the term of an endowment assurance is less than five years, the life policy must only be included in a persistency report in respect of years up to and including the anniversary prior to maturity.

1Subject to SUP 16.8.17 R and SUP 16.8.18 R, a life policy or stakeholder pension must be treated as in force at the end of Y-1 (that is, included in CF) if and only if:

1. (1)

   in the case of a regular premium life policy:

   1. (a)

      in the case of an industrial assurance policy on which the premiums are paid at intervals of four weeks, the premium has been paid in respect of the four-week period in which the policy anniversary falls; or

   2. (b)

      in any other case, the premium has been paid in respect of the month in which the policy anniversary falls;

2. (2)

   in the case of a single premium life policy, the policy has not been surrendered as at the policy anniversary;

3. (3)

   in the case of a regular premium stakeholder pension:

   1. (a)

      for a report required by SUP 16.8.3 R (2) (a), the premium has been paid in respect of the month in which the contract anniversary falls;

   2. (b)

      for a report required by SUP 16.8.3 R (2) (b), the premium has been paid in respect of the month 12 months after the contract was effected;

4. (4)

   in the case of a single premium stakeholder pension:

   1. (a)

      for a report required by SUP 16.8.3 R (2)(a), the contract has not been surrendered as at the contract anniversary; or

   2. (b)

      for a report required by SUP 16.8.3 R (2)(b), the contract has not been surrendered as at the end of the 12 month period.

1A cluster life policy must be reported as a single life policy and must be treated as in force (that is included in CF) even if some of the constituent life policies have been terminated.

1An income withdrawal that has terminated other than by death of the policyholder must be treated as not in force at the end of Y-1 (that is, not included in CF).

1. (1)

   1A persistency report on life policies must be a report in the format of Forms 1R(1), (2) and (3).

2. (2)

   A data report on stakeholder pensions must be a report in the format of Form 1R(4).

3. (3)

   A persistency and a data report must include:

   1. (a)

      for a report required by SUP 16.8.3 R (1) or (2) (a), a separate copy of each Form reporting on life policies or stakeholder pensions effected during each of Y-2, Y-3, Y-4, Y-5;

   2. (b)

      for a persistency report, a separate copy of Forms IR(1) and IR(2) reporting on:

      1. (i)

         regular premium life policies and single premium life policies; and

      2. (ii)

         life policies classified as ordinary assurance policies and industrial assurance policies .

1If, in relation to any Form, a firm has no life policies or stakeholder pensions to report on in a copy of that Form, the firm need not submit that copy provided that it confirms in writing to the FSA, as part of the persistency or data report, that it is not doing so and the reason for not doing so.

1The firm must, if a persistency report reports on;

1. (1)

   an endowment assurance with a term of five years or less:

   1. (a)

      report on such a policy in Form 1R(2); and

   2. (b)

      not report on such a policy in Form 1R(1);

2. (2)

   a group personal pension policy, include the policy as a personal pension policy in Forms 1R(1) and 1R(3);

3. (3)

   a mortgage endowment, also include the policy as an endowment assurance in Forms 1R(1) and 1R(3);

4. (4)

   an income withdrawal, not include the policy under any other relevant category in Forms 1R(1) and 1R(3).

   4

1A firm must make and retain such records as will enable it to:

1. (1)

   monitor regularly the persistency of life policies and stakeholder pensions effected through each of its representatives; and

2. (2)

   make persistency reports or data reports to the FSA in accordance with SUP 16.8.3R.

1. (1)

   1A firm must:

   1. (a)

      submit a report to the FSA annually, in the form of an amended copy of the relevant extract from the FSA Register, containing the information in (2);3

   2. (b)

      submit the report in (1) to the FSA within four months of the firm'saccounting reference date.

2. (2)

   The report in (1) must contain a list of all the current appointed representatives of the firm as at the firm'saccounting reference date.

3. (3)

   The report in (1) is not required if:

   1. (a)

      the firm has no appointed representatives as at the firm's accounting reference date; and

   2. (b)

      this is reflected in the relevant extract from the FSA Register.

1. (1)

   Within 30 business days of its accounting reference date, a firm must check the accuracy of its standing data through the relevant section of the FSA website.

2. (2)

   [paragraph suspended by FSA 2004/79]5

3. (3)

   If any standing data is incorrect, the firm must submit5 the corrected standing data to the FSA,

   5

   using the appropriate form set out in SUP 15 Ann 3 and in accordance with SUP 16.10.4A R.5

   5

1. (1)

   5A firm other than a credit union must submit any corrected standing data under SUP 16.10.4R (3) online at

   www.fsa.gov.uk using the FSA's ONAsystem.

2. (2)

   A credit union must submit any corrected standing data under SUP 16.10.4R (3) in the way set out in SUP 15.7.4 R to SUP 15.7.9 G (Form and method of notification).

3. (3)

   Where a firm is obliged to submit corrected standing data online under (1), if the FSA's information technology systems fail and online submission is unavailable for 24 hours or more, until such time as facilities for online submission are restored, a firm must submit its corrected standing data in the way set out in SUP 15.7.4 R to SUP 15.7.9 G (Form and method of notification).

This section2 applies to a firm which is a home finance provider3 or in respect of sales to a retail client5 or a consumer5:

1. (1)

   an insurer; or

2. (2)

   the operator ofa regulated collective investment scheme, an investment trust savings scheme , or a personal pension scheme4; or

   4
3. (3)

   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.

1. (1)

   A firm must submit a report (the

   'data report') containing the information required by SUP 16.11.5 R quarterly, within 20 business days of the end of the quarter, unless (3) or (4)6 applies.

2. (2)

   The reporting periods are the four calendar quarters of each year beginning on 1 January.

3. (3)

   A firm need not submit a data report if no relevant sales have occurred in the quarter.

4. (4)

   6A SRB agreement provider 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 is not subject to the requirement in (1) to submit a data report (or to the requirement in SUP 16.11.9 R).

The 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; and63

6. (6)

   6regulated sale and rent back agreements.

The data report must comply with the provisions of SUP 16 Annex 21R.

The 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

A firm must provide thedata report to the FSA electronically in a standard format provided by the FSA.

1. (1)

   A firm may appoint another person to provide the data report on the firm's behalf if the firm has informed the FSA of that appointment in writing.

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.

1. (1)

   Any firm permitted to 5carry5 on any of the activities within each of the RAGs set out in column (1) of the table in SUP 16.12.4 R must:

   1. (a)
      1. (i)

         unless (ii) or (iii) 11applies, submit to the FSA the duly completed data items or other items applicable to the firm as set out in the provision referred to in column (2) of that table;

      2. (ii)

         unless (iii) applies, where 11 a firm is required to submit completed data items for 11more than one RAG, that11firm must only submit the data item of the same name and purpose in respect of the lowest numbered RAG applicable to it, RAG 1 being the lowest and RAG 10the highest;11

         111111
      3. (iii)

         where a firm is, but for this rule, required to submit data items for more than one RAG and this includes the submission of data items in respect of FSA fees, the FOS or FSCS levy, or threshold conditions, that firm must only submit these data items if they belong to the lowest numbered of the RAGs applicable to it;11

         11
      4. (iv)

         in the case of a non-EEA bank, or an EEA bank (whether or not it has permission for accepting deposits11) other than one with permission for cross border services11only, any data items11submitted should, unless indicated otherwise, only cover the activities of the branch operation in the United Kingdom;5

         111111

      in the format specified as applicable to the firm in the provision referred to in column (2);

   2. (b)

      submit this information 11at the frequency and in respect of the periods set out in the provision referred to in column (3); and

   3. (c)

      submit this information 11by the due date referred to in the provision referred to in column (4).

2. (2)

   Unless (3) applies, any data item in (1) must be submitted by electronic means made available by the FSA;

3. (3)

   (2) does not apply to:

   1. (a)

      credit unions solely in relation to the reporting requirement for RAG 1 activities, where SUP 16.3.6 R to SUP 16.3.10 G will apply;2

   2. (b)

      firms in RAG 2 in relation to the reporting requirements for RAG 2 activities; and2

   3. (c)

      those data items specified as "No standard format", where SUP 16.3.6 R to SUP 16.3.10 G will apply.2

4. (4)

   A firm that is a member of a financial conglomerate must also submit financial reports as required by SUP 16.12.32 R.