SUP 17.7 Method of making transaction reports
Use of reporting systems
A transaction report must be made through one of the reporting systems listed in SUP 17.7.8 unless SUP 17.7.4 applies.
Before a firm uses any of the systems listed in SUP 17.7.8, it must notify the FSA in writing that it intends to do so.
A firm must send a notification under SUP 17.7.2 to a member of its supervision team and to the FSA's Transaction Monitoring Unit.
Reporting by fax or e-mail
Firms within the categories in the table in SUP 17.7.5 may report transactions by a fax or e-mail transmission which complies with the relevant requirements in the table.
Reporting by fax or e-mail (see SUP 17.7.4)
Category of firm |
Requirements |
The firmmust include the information required bySUP 17.6.2 R (1)) in the fax or e-mail sent to theFSA. |
|
A personal investment firmwhich effectsreportable transactionsat an average rate of fewer than 40 in a month. |
The firmmust include the information required bySUP 17.6.2 R (2) in the fax or e-mail sent to theFSA. |
Any otherfirm which effectsreportable transactionsat an average rate of fewer than 20 in a month. |
The firmmust complete the manual reporting form set out inSUP 17 Annex 3 R and send it by fax or e-mail to theFSA. |
The manual reporting form in SUP 17 Annex 3 is not compulsory for investment management firms or personal investment firms, but those firms may use it to record the required information.
Transaction reports made under SUP 17.7.4 must be sent to the FSA's Data Integrity Unit:
Permitted reporting systems
The reporting systems referred to in SUP 17.7.1 R are:
- (1)
CEDCOM system operated by Clearstream Banking AG, Frankfurt;
- (2)
[deleted];2
- (3)
CRESTCo Limited;
- (4)
EUCLID operated by Euroclear SA (input directly into EUCLID or through SWIFT);
- (5)
the FSA's Direct Reporting System;
- (6)
SEQUAL 2000 system of Thomson Financial Services;
- (7)
[deleted];2
- (8)
Trade Registration System of The London International Financial Futures and Options Exchange (LIFFE);
- (9)
TRAX system of the International Securities Market Association;
21 - (10)
[deleted];2
- (11)
Virt-x; and2
- (12)
Guidance on the use of particular reporting systems listed in SUP 17.7.8 is available from the FSA's Transaction Monitoring Unit.
Failure of reporting systems
If a reporting system fails (whether a relevant reporting system, the firm's own system or the system of a person reporting on its behalf), a firm must:
- (1)
make the transaction report through another reporting system, if the firm considers it reasonably practicable to do so; or
- (2)
make the transaction report by the end of the business day after the day when the failure is remedied, if the firm does not consider it reasonably practicable to comply with (1).
A firm must notify the FSA in writing, before the end of the business day after the day when the failure occurs, which of SUP 17.7.10 (1) or SUP 17.7.10 (2) it will adopt.
A firm must notify the FSA, in writing and without delay, of any failure of its own system, or that of a person reporting on its behalf, which prevents a transaction report being made within the period specified in SUP 17.6.1.