Related provisions for SUP 16.3.15
1 - 20 of 37 items.
Method of submission of reports (see SUP 16.3.8 R)
Method of delivery |
|
1. |
Post to the published address of the FSA for postal submission of reports |
2. |
Leaving the report at the published address of the FSA for hand delivery of reports and obtaining a dated receipt |
3. |
Electronic mail to an address for the firm's usual supervisory contact at the FSA and obtaining an electronic confirmation of receipt |
4. |
Hand delivery to the firm's usual supervisory contact at the FSA and obtaining a dated receipt |
5. |
Fax to the number notified by the firm's usual supervisory contact at the FSA, and receiving a successful transmission report for all pages of the report.72 |
7
6. |
Online submission via the FSA's website at www.fsa.gov.uk8 |
8
- (1)
The current published address of the FSA for postal submission of reports is:
The Financial ServicesAuthority
PO BOX 35747
London E14 5WP
- (2)
The current published address of the FSA for hand delivery of reports is:
- (a)
The Financial ServicesAuthority
25 The North Colonnade
Canary Wharf
London E14 5HS
if the firm's usual supervisory contact at the FSA is based in London, or:
- (b)
The Financial ServicesAuthority
Sutherland House108-114 Dundas Street Edinburgh EH3 5DQ
if the firm's usual supervisory contact at the FSA is based in Edinburgh.2
- (a)
(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) 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) If the due date for submission of a report required by this chapter is a set
9Failure to submit a report in accordance with the rules in this chapter may also lead to the imposition of a financial penalty and other disciplinary sanctions (see ENF 13.5). If it appears to the FSA that, in the exceptional circumstances of a particular case, the payment of any fee would be inequitable, the FSA may reduce or remit all or part of the fee in question which would otherwise be payable (see GEN 3.3.3 R
The firm is responsible for ensuring delivery of the required report at the FSA's offices by the due date. If a report is received by the FSA 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:(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
SUP 16.2.1 G emphasises the importance to the FSA 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 FSA. This is because many due dates for reporting to the FSA are linked to firms'accounting reference dates. Indeed, for some categories of firm, the only reports required by the FSA have due dates for submission which are linked to the firm's accounting
SUP 2.3.12 G states that the FSA may pass to other regulators information which it has in its possession. Such information includes information contained in reports submitted under this chapter. The FSA's disclosure of information to other regulators is subject to SUP 2.2.4 G (Confidentiality of information).
(1) The purpose of this section2 is to set out the requirements for firms in the retail mortgage, investment, and pure protection contract markets specified in SUP 16.11.1 R to report individual product sales data to the FSA. This requirement applies whether the regulated activity has been carried out by the firm, or through an intermediary which has dealt directly with the firm.2(2) The purpose of collecting this data is to assist the FSA in the ongoing supervision of firms engaged
(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) 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.
There
is no duty on an approved person to
report such information directly to the FSA unless he is one of the approved persons responsible within the firm for reporting matters to the FSA. However, if an approved
person takes steps to influence the decision so as not to report
to the FSA or acts in a way that is intended to
obstruct the reporting of the information to the FSA, then the FSA will, in respect of that information,
view him as being one of those within the firm who
has
In
determining whether or not an approved person's conduct
under APER 4.4.4 E complies with Statement of Principle 4,
the following are factors which, in the opinion of the FSA, are to be taken into account:(1) the
likely significance to the FSA of the information which it was
reasonable for the individual to assume;(2) whether
the information related to the individual himself or to his firm;(3) whether
any decision not to report the matter internally was taken after reasonable
enquiry
The FSA will normally require the person in SUP 5.2.1 G to appoint the skilled person to report to the FSA through that person. In the normal course of events the FSA expects that the person in SUP 5.2.1 G will be given the opportunity to provide written comments on the report prior to its submission to the FSA (SUP 5 Annex 2 summarises the reporting process).
Depending on the nature, scale and complexity of its business, it may be appropriate for a firm to delegate much of the task of monitoring the appropriateness and effectiveness of its systems and controls to an internal audit function. An internal audit function should have clear responsibilities and reporting lines to an audit committee or appropriate senior manager, be adequately resourced and staffed by competent individuals, be independent of the day-to-day activities of the
(1) This
chapter applies to every firm which
is:(a) a securities
and futures firm; or(b) a personal
investment firm; or(c) an investment
firm (including a credit
institution which is an investment
firm) not within (a) or (b) excluding a firm to whom the ISD does not apply under Article 2(2) of
the ISD.(2) This
chapter does not apply to:(a) an incoming
EEA firm in relation to its passported activities; or(b) an oil
market participant in relation to its oil market activities.
1The rights and duties of auditors are set out in SUP 3.8 (Rights and duties of all auditors) and SUP 3.10 (Duties of auditors: notification and report on client assets). SUP 3.8.10 G also refers to the auditor's statutory duty to report certain matters to the FSA imposed by regulations made by the Treasury under sections 342(5) and 343(5) of the Act (information given by auditor or actuary to the FSA). An auditor should bear these rights and duties in mind when carrying out client
The FSA receives the information in SUP 2.1.3 G through a variety of means, including notifications by firms (see SUP 15) and regular reporting by firms (see SUP 16). This chapter is concerned with the methods of information gathering that the FSA may use on its own initiative in the discharge of its functions under the Act. This chapter does not deal with the information gathering powers that the FSA has under the Unfair Terms Regulations. These are dealt with in ENF 20.3.5
In complying with the contractual duty in SUP 5.5.1 R, the FSA expects that, in the case of substantial or complex reports, the skilled person will give a periodic update on progress and issues to allow for a re-focusing of the report if necessary. The channel of communication would normally be directly between the skilled person and the FSA. However, the FSA would also expect firms normally to be informed about the passage of information, and the skilled person would usually
A firm and its controllers are required to notify certain changes in control (See SUP 11 (Controllers and close links)). The purpose of the rules and guidance in this section is:(1) to ensure that, in addition to such notifications, the FSA receives regular and comprehensive information about the identities of all of the controllers of a firm, which is relevant to a firm's continuing to satisfy the threshold conditions (see COND 2.3) and to the protection of consumers; (2) to