TC 2.2B Reporting requirements

1This section applies to a firm with employees that are retail investment advisers.

1. (1)

   A firm must submit a report (the ‘data report’) to the FCA containing the information required by TC 2.2B.4 R quarterly, within 20 business days of the end of the quarter, unless (3) 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 changes have occurred in relation to the information submitted by the firm in its previous report.

4. (4)

   A firm may submit a data report more frequently than quarterly if it wishes.

The report must contain professional standards data as follows:

1. (1)

   the firm's name and Firm Reference Number;

2. (2)

   the names3 of the firm's employees who are retail investment advisers, including trainees;

   2
3. (2A)

   the following information in respect of the employees in (2):3

   1. (a)

      the employee’s Individual Reference Number (IRN); or3

   2. (b)

      in the case of an employee of a relevant authorised person who is performing an FCA-specified significant harm function and has no IRN:3

      1. (i)

         the employee’s National Insurance (NI) number and date of birth; or3

      2. (ii)

         if the employee has no NI number, the employee’s date of birth, current passport number and nationality;3

4. (3)

   whether a retail investment adviser has attained an appropriate qualification;

5. (4)

   if a retail investment adviser has not attained an appropriate qualification, the date on which the employee began to carry on the activity of a retail investment adviser;3

6. (5)

   the name of the accredited body used for the purposes of TC 2.1.27 R; and3

7. (6)

   whether the firm has assessed a retail investment adviser as competent for the purposes of TC 2.1.1R.3

The data report must comply with the provisions of TC Appendix 8R.

A firm must submit the data report to the FCA electronically in a standard format prescribed by the FCA.

A data report will not have been submitted to the FCA in accordance with TC 2.2B.6 R unless all mandatory data reporting fields (as set out in TC Appendix 8R) have been completed correctly and the report has been accepted by the relevant FCA reporting system.