Related provisions for SUP 3.10.9

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SUP 3.10.4RRP
An auditor of a firm must submit a report addressed to the FSA, signed in his capacity as auditor, which: (1) 5states the matters set out in SUP 3.10.5 R; or(2) if the firm claims not to hold client money or custody assets, states whether anything has come to the auditor's attention that causes him to believe that the firm held client money or custody assets during the period covered by the report.
SUP 3.10.5RRP

Client assets report

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Whether in the auditor's opinion

(1)

the firm has maintained systems adequate to enable it to comply with the rules in CASS 2 to CASS 4 (inclusive) and CASS 5.1 to CASS 5.8 (except CASS 5.2)1 throughout the period since the last date as at which a report was made;

(2)

the firm was in compliance with the rules in CASS 2 to CASS 4 (inclusive) and CASS 5 (except CASS 5.2),1 at the date as at which the report has been made;

(3)

in the case of an investment management firm, personal investment firm, a UCITS firm,2securities and futures firm or BIPRU investment firm,2 when a subsidiary of the firm is a nominee company in whose name custody assets of the firm are registered that nominee company has maintained throughout the year systems for the custody, identification and control of custody assets which:

22

(a)

are adequate; and

(b)

include reconciliations at appropriate intervals between the records maintained (whether by the firm or the nominee company) and statements or confirmations from custodians or from the person who maintains the record of legal entitlement; and

(4)

if there has been a secondary pooling event during the period, the firm has 1complied with the rulesCASS 4.4, and CASS 5.6 (Client money distribution)1 in relation to that pooling event.
SUP 3.10.6RRP
The period covered by a report under SUP 3.10.4 R must end not more than 53 weeks after the period covered by the previous report on such matters, or, if none, after the firm is authorised or becomes a firm to which SUP 3.10 applies.
SUP 3.10.7RRP
An auditor must deliver a report under SUP 3.10.4 R to the FSA so as to be received within four months of theend of each period covered, unless it is the auditor of a firm falling within category (10) of SUP 3.1.2 R.1
SUP 3.10.8RRP
If an auditor is unable to report to the FSA within the timetable set out in SUP 3.10.7 R, the auditor must notify the FSA and advise the FSA of the reasons why it has been unable to meet the requirements of SUP 3.10.7 R.
SUP 3.10.8ARRP
1The auditor of a firm falling within category (10) of SUP 3.1.2 R must deliver a report under SUP 3.10.4 R:(1) to the firm so as to be received within four months of the end of each period covered; and(2) to the FSA upon request within six years of the end of the period covered.
SUP 3.10.8BGRP
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
SUP 3.10.10RRP
If an auditor is unable to form an opinion as to whether one or more of the applicable requirements described in SUP 3.10.5 R have been met, the auditor must specify in the report under SUP 3.10.4 R those requirements and the reasons why the auditor has been unable to form an opinion.
SUP 3.10.12RRP
An auditor of a firm must submit a report under SUP 3.10.4 R in accordance with the rules in SUP 16.3.6 R to SUP 16.3.13 R as if those rules applied directly to the auditor.
SUP 3.2.6GRP
4The 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 includes 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