This chapter applies to every firm within60 a category listed in column (2) of the table in SUP 16.1.3 R and in accordance with column (3) of that table.

50The rules and guidance in SUP 16.26 (Reporting of information about Directory persons) apply to an SMCR firm.

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 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. (2)

   if submitted in paper form, be submitted with the cover sheet contained in SUP 16 Annex 13 R4949 fully completed13.21

A written report must be delivered to the FCA28 by one of the methods listed in SUP 16.3.9 R.

A firm must submit reports required under this chapter to the FCA28 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 FCA28 no later than the due date, specified for that report.

   4949
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 FCA28 no later than the first business day after the due date.

   4949
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 or38

   2. (b)

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

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, this chapter or the provisions of relevant legislation and any prescribed submission procedures, the firm must pay an administrative fee of £250.29

1. (1)

   A firm must notify the FCA28 if it changes its accounting reference date.

   4949
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 (Requirement to check the accuracy of standing data and to report changes to the FCA38) apply to any notification made under (1).18

   4934284949

1. (1)

   [deleted]10

   151510
2. (2)

   [deleted]10

   1510
3. (3)

   [deleted]10

   10
4. (4)

   [deleted]10

   10
5. (4A)

   [deleted]10

   5151510
6. (4B)

   [deleted]10

   51515151510
7. (5)

   [deleted]810

   8
8. (6)

   10A firm must submit annually by electronic means to the FCA12 the Controllers Report which contains the information specified in the form in SUP 16 Annex 37A, within four months of the firm'saccounting reference date9.

If a firm is a mutual13 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)).

An insurer14 need not submit a report under SUP 16.4.5R to the extent that the information has already been provided to the PRA under requirements in the PRA Rulebook14.

1. (1) 11111111557

   [deleted]7

2. (2)

   [deleted]7

   111111117
3. (3)

   [deleted]7

4. (4)

   [deleted]7

5. (5) 57

   [deleted]7

6. (6)

   7A firm must submit a report to the appropriate regulator annually by completing the Close Links Annual Report in SUP 16 Annex 36A which must be sent electronically to the appropriate regulator within four months of the firm'saccounting reference date6.

7If a group includes more than one firm, a single close links notification may be made by completing the Annual Close Links Report and so satisfy the notification requirement for all firms in the group. Nevertheless, the requirement to notify, and the responsibility for notifying, remains with each firm in the group.

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 FCA.12

A depositary of an authorised fund10 must submit compliance reports in accordance with SUP 16.6.7 R.

1. (1)

   [deleted]10

   1313
2. (1A)

   The breach report from a depositary of an authorised fund to the FCA must include, for each authorised fund for which it is a depositary:10

   1. (a)

      details of all breaches of COLL or FUND, which came to the depositary’s attention or which were reported to the depositary by the authorised fund manager, during the previous month;10

   2. (b)

      details of any changes to the reported details of an existing breach, whether reported under SUP 16.6.8R(1A) or otherwise;10

   3. (c)

      details of all breaches that were reported, whether reported under SUP 16.6.8R(1A) or otherwise, and that have been closed during the previous month; and10

   4. (d)

      whether the authorised fund manager has, in the opinion of the depositary, adequate controls over: 10

      1. (i)

         the issue and cancellation of units as detailed in COLL 6.2 (Dealing); and10

      2. (ii)

         valuation and pricing as detailed in COLL 6.3 (Valuation and pricing).10

3. (1B)

   The oversight report from the depositary to the FCA must include: 10

   1. (a)

      details of each authorised fund manager visited during the previous quarter; and10

   2. (b)

      for each area reviewed: 10

      1. (i)

         the findings and conclusions of the depositary;10

      2. (ii)

         its recommendations; and10

      3. (iii)

         the authorised fund manager’s response and comments, where available.10

4. (2)

   [deleted]10

   131333
5. (2A)

   [deleted]10

   66
6. (3)

   [deleted]7

   13132

1. (1)

   10A depositary must submit its breach report under SUP 16.6.8R(1A) using the form REP011 in SUP 16 Annex 12AR.

2. (2)

   A depositary must submit its oversight report under SUP 16.6.8R(1B) using the form REP012 in SUP 16 Annex 12AR.

3. (3)

   A depositary must submit the forms in SUP 16 Annex 12AR:

   1. (a)

      online through the appropriate systems accessible from the FCA’s website; or

   2. (b)

      if the appropriate systems are unavailable, via email to fundsupervision@fca.org.uk.

1This section applies to every firm in the regulatory activity group (RAG) set out in column (1), which is a type of firm in column (2), of the tables in SUP 16.7A.3 R and SUP 16.7A.5 R, except:

1. (1)

   [deleted]5

2. (2)

   [deleted]5

3. (3)

   an oil market participant that is not subject to the requirements of IPRU(INV) Chapter 3;

4. (4)

   an authorised professional firm other than:

   1. (a)

      a firm that must comply with IPRU(INV) 3, 5 or 13 in accordance with IPRU(INV) 2.1.4R; or

   2. (b)

      a CASS debt management firm;

5. (5)

   an authorised professional firm if the only regulated activity it carries on is credit-related regulated activity as a non-mainstream regulated activity;

6. (6)

   a financial conglomerate; and

7. (7)

   a local authority.

1. (1)

   An adviser4 (as referred to in IPRU(INV) 3-60(4)R), is only required to submit the annual report and accounts if:

   1. (a)

      it is a partnership or body corporate; and

   2. (b)

      the annual report and accounts were audited as a result of a statutory provision other than under the Act.

2. (2)

   A service company is only required to submit the annual report and accounts if the reports and accounts were audited as a result of a statutory provision other than under the Act.

Where a number of firms in the same group share the same mixed activity holding company parent, only one firm in the group is required to provide the report.

Firms must submit the annual report and accounts to the FCA online through the appropriate systems accessible from the FCA's website, using the form specified in SUP 16 Annex 1A.

Firms must submit their annual report and accounts in accordance with SUP 16.7A.3 R within the following deadlines:

1. (1)

   for a non-UK bank5, within 7 months of the accounting reference date;

2. (2)

   for the Society or a service company, within 6 months of the accounting reference date; and

3. (3)

   for all other firms, within 80 business days2 of the accounting reference date.

   2

Firms must submit the annual report and accounts of a mixed activity holding company in accordance with SUP 16.7A.5 R within 7 months of their accounting reference date.

1. (1)

   An insurer with a permission to effect or carry out life policies must submit to the FCA a persistency report in respect of life policies by 30 April each year in accordance with this section.

   11111118
2. (2)

   A firm with permission to establish, operate or wind up a stakeholder pension scheme must submit to the FCA11:

   11
   1. (a)

      a data report on stakeholder pensions by 30 April each year using the form specified in SUP 16 Annex 6R.9

      9
   2. (b)

      [deleted]9

      9

1. (1)

   9A firm may submit persistency and a data report for a 12 month period ending within 4 months of its accounting reference date if:

   1. (a)

      it has notified the FCA of this intention by email using the email address specified in SUP 16.3.10 G (3) no later than the firm'saccounting reference date; and

   2. (b)

      it either:

      1. (i)

         has an accounting reference date other than 31 December; or

      2. (ii)

         undertakes industrial assurance policy business.

9 Firms required to submit reports as set out in SUP 16.8.3 R (1) and SUP 16.8.3 R (2) must do so online through the appropriate systems accessible from the FCA's website.

1In this section, and 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)

   [deleted]9

   9
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 (see10 the example in SUP 16.8.5G);

15. (15)

    'persistency report' means a report in respect of life policies and stakeholder pensions9 complying with SUP 16.8.19A R and9SUP 16.8.21 R;

    9
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; and10

23. (23)

    'year' means calendar year, unless SUP 16.8.3AR (1) applies in which case it means the 12 month period notified to the FCA.9

    9

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.10

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)

   [deleted]7

   7
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 need not contain information:9

1. (1)

   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; and9

2. (2)

   on life policies and stakeholder pensions if a firm has no life policies or stakeholder pensions to report on in SUP 16 Annex 6R.9

9In circumstances where a firm has no data to report in one or both of the life policies and stakeholder pensions sections of SUP 16 Annex 6R, a firm must submit a nil return using the relevant field(s) in the form.

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)

      [deleted]9

      9
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.10

   2. (b)

      [deleted]9

      9

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).

9A persistency report on life policies and stakeholder pensions must be in the format of SUP 16 Annex 6R.

1The firm must, if a persistency report reports on:10

1. (1)

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

   1. (a)

      [deleted]9

      9
   2. (b)

      report on such a policy in the report in SUP 16 Annex 6R;9

      9
2. (2)

   a group personal pension policy, include the policy as a personal pension policy in the report in SUP 16 Annex 6R;9

   9
3. (3)

   a mortgage endowment, also include the policy as an endowment assurance in the report in SUP 16 Annex 6R;9

   9
4. (4)

   an income withdrawal, not include the policy under any other relevant category in SUP 16 Annex 6R.9

   49

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 FCA11 in accordance with SUP 16.8.3R10.

   11

1. (1)

   Within 6016business days of its accounting reference date, a firm must check the accuracy of its firm details13 through the relevant section of the FCA10 website.

   2020
2. (2)

   [paragraph suspended by FSA 2004/79]5

3. (3)

   If any firm details are13 incorrect, the firm must submit5 the corrected firm details13 to the FCA10 using:19

   520
   1. (a)

      the appropriate form set out in SUP 15 Ann 3 and in accordance with SUP 16.10.4AR; or19

   2. (b)

      19where the relevant details relate to an appointed representative of the firm:

      1. (i)

         the form in SUP 12 Ann 3 (Appointed representative appointment) if the appointed representative is not included on the Financial Services Register;

      2. (ii)

         the form in SUP 12 Ann 4 (Appointed representative or tied agent – change details) if the details about an appointed representative on the Financial Services Register are incorrect; or

      3. (iii)

         the form in SUP 12 Ann 5 (Appointed representative termination) if a relationship with an appointed representative has been terminated but this is not reflected on the Financial Services Register,

         in accordance with the applicable rules in SUP 12.7 (Notification and reporting requirements) or SUP 12.8 (Termination of a relationship with an appointed representative or FCA registered tied agent).

   set out in SUP 15 Ann 3 and in accordance with SUP 16.10.4A R.5

   5

1. (1)

   A firm must submit any corrected firm details under SUP 16.10.4R(3) using the appropriate online systems accessible through the FCA’s website.16

   88
   138202020779
2. (2)

   [deleted]16

   81312202020
3. (3)

   Where a firm is obliged to submit corrected firm details13 online under (1), if the FCA's20 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 firm details13 to firm.details@fca.org.uk16.

   202020132013

1. (1)

   16This rule applies where, in complying with SUP 16.10.4R(1), a firm does not need to submit corrected firm details under SUP 16.10.4R(3).

2. (2)

   Within 60 business days of its accounting reference date, a firm must submit a report to the FCA confirming that the firm details which it has checked under SUP 16.10.4R(1) remain accurate, using the appropriate online systems accessible through the FCA’s website.

This section2 applies:

1. (1)

   in relation to sales data reports, to a firm:10

   10
   1. (a)

      which is a home finance provider; or

   2. (aa)

      14which is a P2P platform operator which facilitates entry into a regulated mortgage contract, home purchase plan, home reversion plan or regulated sale and rent back agreement where the lender or provider does not require permission to enter into the transaction; or

   3. (b)

      which is:16

      1. (i)

         a threshold 1 category A firm;16

      2. (ii)

         a threshold 1 category B firm;16

      3. (iii)

         a threshold 2 category A firm;16

      4. (iv)

         a threshold 2 category B firm; or16

      5. (v)

         a non-threshold short-term loan firm; or16

   4. (c)

      which is, in respect of sales to a retail client or a consumer:

      1. (i)

         an insurer; or

      2. (ii)

         the manager of an authorised AIF or a UCITS scheme; or

      3. (iii)

         the operator of an investment trust savings scheme, or a personal pension scheme; or

      4. (iv)

         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;10

2. (2)

   in relation to performance data reports15:

   14
   1. (a)

      to the firm (“A”) which entered into the regulated mortgage contract;

      1415
   2. (b)

      where the right of the lender to receive payments under the regulated mortgage contract has passed to another person (“B”) by legal or equitable assignment or by operation of law:15

      14
      1. (i)

         where B is a firm with permission for administering a regulated mortgage contract, firm B (and it is immaterial for this purpose whether B makes arrangements for A or another person to administer the mortgage or to exercise the lender’s rights under it); or15

      2. (ii)

         where B is not a firm with permission for administering a regulated mortgage contract and B enters into an agreement with a firm (“C”) to administer the contract, firm C (it is immaterial for this purpose whether firm C is firm A, or whether firm C enters into an arrangement with another person to outsource or delegate the performance of some of those administration activities); or16

         15
   3. (c)

      to a firm which is:16

      1. (i)

         a threshold 1 category A firm;16

      2. (ii)

         a threshold 1 category B firm;16

      3. (iii)

         a threshold 2 category A firm; or16

      4. (iv)

         a threshold 2 category B firm.16

   101041010
3. (3)

   in relation to back-book data reports, to a firm which is:16

   1. (a)

      a threshold 1 category A firm;16

   2. (b)

      a threshold 1 category B firm;16

   3. (c)

      a threshold 2 category A firm; or16

   4. (d)

      a threshold 2 category B firm.16

1. (1)

   A firm must submit a report (a 'data report') containing the information required by:7

   7
   1. (a)

      SUP 16.11.5 R (a 'sales data report') within 20 business days of the end of the reporting period; 16

      7
   2. (b)

      for regulated mortgage contracts and relevant regulated credit agreements16, SUP 16.11.5A R (a 'performance data report'), within 30 business days of the end of the reporting period; and16

      7
   3. (c)

      SUP 16.11.5BR (a ‘back-book data report’), within 30 business days of the end of the firm’s first reporting period,16

   unless 11(3A) or (4) applies.7

2. (2)

   The reporting periods are;7

   7
   1. (a)

      7for sales data reports, the four calendar quarters of each year beginning on 1 January; 16

   2. (b)

      7for performance data reports for regulated mortgage contracts,16 the six month periods beginning on 1 January and 1 July in each calendar year; and16

   3. (c)

      for performance data reports for relevant regulated credit agreements, the four calendar quarters of each year beginning on 1 January.16

3. (2A)

   The requirement set out in SUP 16.11.3R applies as follows:16

   1. (a)

      in relation to a threshold 1 category A firm, the first reporting period to which the requirement applies is the calendar quarter beginning on 1 January 2026;16

   2. (b)

      in relation to a threshold 1 category B firm:16

      1. (i)

         the first reporting period to which the requirement applies is calculated by reference to the quarter in which the relevant annual period ended;16

      2. (ii)

         the relevant annual period is the annual period in respect of which the firm first reported in accordance with SUP 16.12.29CR;16

         1. (A)

            an annual total value of £2,000,000 or more, but less than £20,000,000, outstanding for relevant regulated credit agreements; or16

         2. (B)

            an annual total value of £2,000,000 or more, but less than £20,000,000, of new advances for relevant regulated credit agreements;16

      3. (iii)

         the first reporting period is the seventh calendar quarter following the quarter in which the relevant annual period ended;16

   3. (c)

      in relation to a threshold 2 category A firm, the first reporting period to which the requirement applies is the calendar quarter beginning on 1 July 2025;16

   4. (d)

      in relation to a threshold 2 category B firm:16

      1. (i)

         the first reporting period to which the requirement applies is calculated by reference to the quarter in which the relevant annual period ended;16

      2. (ii)

         the relevant annual period is the annual period in respect of which the firm first reported in accordance with SUP 16.12.29CR;16

         1. (A)

            an annual total value of £20,000,000 or more outstanding for relevant regulated credit agreements; or16

         2. (B)

            an annual total value of £20,000,000 or more of new advances for relevant regulated credit agreements;

      3. (iii)

         the first reporting period is the fifth calendar quarter following the quarter in which the relevant annual period ended.16

4. (3)

   [deleted]11

   11
5. (3A)

   A firm must submit a nil return if no relevant sales have occurred in the quarter.11

6. (3B)

   A firm must submit a nil return in respect of performance data reports if it does not own any rights of a lender under a regulated mortgage contract, and only carries on the regulated activity of administering a regulated mortgage contract for firms which are themselves obliged to submit performance data reports under SUP 16.11.1R(2).15

7. (4)

   The following types of firm14 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 are14 not subject to the requirement in (1) to submit a data report (or to the requirement in SUP 16.11.9 R:14

   6
   1. (a)

      14a SRB agreement provider; and

   2. (b)

      14a P2P platform operator which facilitates entry into a regulated sale and rent back agreement where the provider does not require permission to enter into the transaction.

A sales7 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 (including15 further advances (see SUP 16.11.7R(3)) and internal product transfers and internal remortgages, irrespective of whether there is a new mortgage contract15);3

4. (4)

   home purchase plans;3

   6
5. (5)

   home reversion plans; 63

   8
6. (6)

   6regulated sale and rent back agreements;8 and16

   8
7. (7)

   relevant regulated credit agreements.16

   138
8. (8)

   [deleted]16

   8

7A performance data report must contain performance data in respect of:16

1. (1)

   regulated mortgage contracts other than legacy CCA mortgage contracts; and16

2. (2)

   relevant regulated credit agreements,16

as applicable.16

1. (1)

   Subject to (2), a back-book data report must contain data in respect of all relevant regulated credit agreements that are in force on the first day of the firm’s first reporting period within the meaning of SUP 16.11.3R(2A).16

2. (2)

   A back-book data report must not contain data in respect of a relevant regulated credit agreement which was executed on the first day of the firm’s first reporting period within the meaning of SUP 16.11.3R(2A).16

3. (3)

   A firm must only provide one back-book data report.16

1. (1)

   A firm which provided a back-book data report because it was either a threshold 1 category A firm or a threshold 1 category B firm is not required to provide an additional back-book data report if it subsequently becomes a threshold 2 category B firm.16

2. (2)

   A firm which provided a back-book data report because it was either a threshold 2 category A firm or a threshold 2 category B firm is not required to provide an additional back-book data report if it subsequently becomes a threshold 1 category B firm.16

1. (1)

   A data report must comply with the provisions of SUP 16 Annex 21R.15

2. (2)

   But (3) to (5) apply where a firm which is required to submit a sales data report under SUP 16.11.3R(1)(a) is a PRA-authorised person which is also required to submit information to the FCA under chapter 23 (regulatory mortgage contract reporting) of the PRA’s Regulatory Reporting rules.15

3. (3)

   Where the sales data report relates to a further advance, SUP 16.11.3R(1)(a) and SUP 16 Annex 21R apply to the firm only in relation to the format in which the data elements in the report are to be submitted to the FCA.15

4. (4)

   Where the sales data report does not relate to a further advance, SUP 16.11.3R(1)(a) and SUP 16 Annex 21R apply to the firm in respect of the data elements listed in (5) only in relation to the format in which the data elements are to be submitted to the FCA.15

5. (5)

   The data elements are:15

   1. (a)

      the total amount owed by the borrower to the firm and secured on the property immediately prior to the new borrowing; 15

   2. (b)

      for a second charge regulated mortgage contract, the total amount owed by the borrower to third parties secured on the property; 15

   3. (c)

      rate to which stress test applied; and15

   4. (d)

      contractual reversion rate.15

1. (1)

   A sales 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.16

2. (2)

   The requirement in (1) does not apply to transactions relating to regulated credit agreements.16

14Where a P2P platform operator facilitates an arrangement under which a number of persons provide home finance to a single customer, either individually under separate contracts, or jointly and severally under a single contract:

1. (1)

   the sales data report and performance data report of the P2P platform operator must include data in respect of the arrangement taken as a whole, as though it comprised a single transaction; and

2. (2)

   the sales data report and performance data report of any firm which is the lender or provider under any separate contract forming part of the arrangement must include data in respect of that contract.

A firm must provide a 7data report to the FCA17 electronically in a standard format provided by the FCA17.

1. (1)

   A firm may appoint another person to provide a 7data report on the firm's behalf if the firm has informed the FCA17 of that appointment in writing.

   717
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 FCA65 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;

         9797
      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 1280 the highest;

         111111474711
      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 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

         1197
      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 FCA;80

   659797
3. (3)

   Paragraph97 (2) does not apply to:

   1. (a)

      [deleted]702

      9797
   2. (aa)

      [deleted]73

      56
   3. (b)

      firms in RAG 2 in relation to the reporting requirements for RAG 2 activities (except the funeral plan provision activities)88; and

      2
   4. (c)

      those data items70 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.