Related provisions for SUP 13.7.2

SUP 13.7.3AG01/11/2007

5If a UK firm is providing cross border services in a particular EEA State in exercise of an EEA right deriving from MiFID, the UK firm must comply with the requirements of regulation 12A(2) before it makes a change to its programme of operations, including:(1) changing the activities to be carried on in exercise that EEA right;(2) using, for the first time, any tied agent to provide services in the territory of that EEA State; or(3) ceasing to use any tied agent to provide services

SUP 13.7.11G06/02/2007

A UK firm providing cross border services under the Banking Consolidation Directive or Insurance Mediation Directive is not required to supply a change to the details of cross border services notice5.35

REC 4.2B.1G01/11/2007

1Under section 312C of the Act, if a UK RIE wishes to make arrangements in an EEA State other than the UK to facilitate access to or use of a regulated market or multilateral trading facility operated by it, it must give the FSAwritten notice of its intention to do so. The notice must:(1) describe the arrangements; and(2) identify the EEA State in which the UK RIE intends to make them.

REC 4.2B.2G01/11/2007

The FSA must, within one month of receiving the UK RIE's notice, send a copy of it to the Host State regulator.

REC 4.2B.3G01/11/2007

The UK RIE may not make the arrangements until the FSA has sent a copy of the notice to the Host State regulator.

REC 4.2B.4G01/11/2007

The requirements that a UK RIE must give the FSA written notice and the UK RIE may not make the arrangements until the FSA has sent a copy of it to the Host State regulator do not apply to arrangements made by a UK RIE on or before 31 October 2007.

SUP 16.12.16R01/01/2008

The applicable reporting frequencies for data items referred to in SUP 16.12.15 R2 are set out in the table below according to firm type. Reporting frequencies are calculated from a firm's accounting reference date, unless indicated otherwise.

Data item	Firm's prudential category
	BIPRU 730K firm	BIPRU 125K firm and UCITS investment firm	BIPRU 50K firm	ConsolidatedBIPRU investment firm	Firmother than BIPRU firms
Annual accounts	Annually	Annually	Annually		Annually2
2Annual reconciliation					Annually
Annual accounts of the mixed-activity holding company	Annually	Annually	Annually
Solvency statement	Annually	Annually	Annually		Annually2
FSA001	Quarterly	Quarterly	Half yearly	Half yearly
FSA002	Quarterly	Quarterly	Half yearly	Half yearly
FSA003	Monthly	Quarterly	Half yearly	Half yearly
FSA004	Quarterly	Quarterly	Half yearly	Half yearly
FSA005	Quarterly	Quarterly	Half yearly	Quarterly
FSA006	Quarterly	Quarterly	Quarterly	Quarterly
FSA007	Annual	Annual	Annual	Annual
FSA008	Quarterly	Quarterly	Quarterly	Quarterly
FSA016	Half yearly	Half yearly	Half yearly
FSA018	Quarterly	Quarterly	Quarterly
FSA019	Annually	Annually	Annually	Annually
FSA028	Half yearly	Half yearly	Half yearly
2FSA029					Quarterly and annually (note 1)
2FSA030					Quarterly and annually (note 1)
2FSA031					Quarterly3
2FSA032					Quarterly3
2FSA033					Quarterly and annually (note 1)
2FSA034					Quarterly and annually (note 1)
2FSA035					Quarterly and annually (note 1)
2FSA036					Quarterly and annually (note 1)5
2FSA038	Half yearly	Half yearly	Half yearly		Half yearly
2FSA039	Half yearly	Half yearly	Half yearly		Half yearly
2FSA040	Quarterly	Quarterly	Quarterly		Quarterly
2FSA041	Annually	Annually	Annually		Annually
2FSA042	Quarterly	Quarterly	Quarterly		Quarterly
6FSA045	Quarterly	Quarterly	Half yearly	Half yearly
6FSA046	Half yearly	Half yearly	Half yearly	Half yearly
5Section A RMAR					Half yearly (note 2) Quarterly (note 3)
5Section B RMAR					Half yearly (note 2) Quarterly (note 3)
5Section C RMAR					Half yearly (note 2) Quarterly (note 3)
5Section D1 and D2 RMAR					Half yearly (note 2) Quarterly (note 3)
5Section F RMAR					Half yearly
2Note 1	The annual data item to be submitted is additional to the fourth quarterly return to be submitted. The information to be submitted in the annual data item must (except for exempt CAD firms or firms subject to the small firms audit exemption) be audited before it is submitted.
5Note 2	Annual regulated business revenue up to and including £5 million.
5Note 3	Annual regulated business revenue over £5 million.

SUP 16.12.26R01/01/2008

The applicable reporting frequencies for data items referred to in SUP 16.12.25A R are set out according to the type of firm 2 in the table below. Reporting frequencies are calculated from a firm's accounting reference date, unless indicated otherwise.

	BIPRU 730K firm	BIPRU 125K firm	BIPRU 50K firm	ConsolidatedBIPRU investment firm	Firms other than BIPRU firms
Annual accounts	Annually	Annually	Annually		Annually 2
2Annual reconciliation					Annually
Annual accountsof the mixed-activity holding company	Annually	Annually	Annually	Annually
Solvency statement	Annually	Annually	Annually		Annually2
FSA001	Quarterly	Quarterly	Half yearly	Half yearly
FSA002	Quarterly	Quarterly	Half yearly	Half yearly
FSA003	Monthly	Quarterly	Half yearly	Half yearly
FSA004	Quarterly	Quarterly	Half yearly	Half yearly
FSA005	Quarterly	Quarterly	Half yearly	Quarterly
FSA006	Quarterly	Quarterly	Quarterly
FSA007	Annually	Annually	Annually	Annually
FSA008	Quarterly	Quarterly	Quarterly	Quarterly
FSA016	Half yearly	Half yearly	Half yearly
FSA018	Quarterly	Quarterly	Quarterly
FSA019	Annually	Annually	Annually	Annually
FSA028	Half yearly	Half yearly	Half yearly
2FSA029					Quarterly and annually (note 1)
2FSA030					Quarterly and annually (note 1)
2FSA031					Quarterly
2FSA032					Quarterly
2FSA033					Quarterly and annually (note 1)
2FSA034					Quarterly and annually (note 1)
2FSA035					Quarterly and annually (note 1)
2FSA036					Quarterly and annually (note 1)5
2FSA039	Half yearly	Half yearly	Half yearly	Half yearly	Half yearly
2FSA040	Quarterly	Quarterly	Quarterly	Quarterly	Quarterly3
6FSA045	Quarterly	Quarterly	Half yearly	Half yearly
6FSA046	Half yearly	Half yearly	Half yearly	Half yearly
5Section A RMAR					Half yearly (note 2) Quarterly (note 3)
5Section B RMAR					Half yearly (note 2) Quarterly (note 3)
5Section C RMAR					Half yearly (note 2) Quarterly (note 3)
5Section D1 and D2 RMAR					Half yearly (note 2) Quarterly (note 3)
5Section F RMAR					Half yearly
2Note 1	The annual data item to be submitted is additional to the fourth quarterly return to be submitted. The information to be submitted in the annual data item must (except for exempt CAD firms or firms subject to the small firms audit exemption) be audited before it is submitted.
5Note 2	Annual regulated business revenue up to and including £5 million.
5Note 3	Annual regulated business revenue over £5 million.

SUP 16.12.27R01/01/2008

The applicable due dates for submission referred to in SUP 16.12.4 R are set out in the table below. The due dates are the last day of the periods given in the table below following the relevant reporting frequency period set out in SUP 16.12.26 R.

Data item	Monthly submission	Quarterly submission	Half yearly submission	Annual submission
Annual accounts				80 business days
2Annual reconciliation				80 business days
Annual accounts of the mixed-activity holding company				As soon as available after the year end
Solvency statement				3 months
FSA001		20 business days	30 business days (note 1); 45 business days (note 2)
FSA002		20 business days	30 business days (note 1); 45 business days (note 2)
FSA003	15 business days	20 business days	30 business days (note 1); 45 business days (note 2)
FSA004		20 business days	30 business days (note 1); 45 business days (note 2)
FSA005		20 business days	30 business days (note 1); 45 business days (note 2)
FSA006		20 business days	30 business days (note 1); 45 business days (note 2)
FSA007				2 months
FSA008		20 business days (note 1); 45 business days (note 2)
FSA016			30 business days
FSA018		45 business days
FSA019				2 months
FSA028			30 business days
2FSA029		20 business days		80 business days
2FSA030		20 business days		80 business days
2FSA031		20 business days
2FSA032		20 business days
2FSA033		20 business days		80 business days
2FSA034		20 business days		80 business days
2FSA035		20 business days		80 business days
2FSA036		20 business days		80 business days 5
2FSA039			30 business days
2FSA040		15 business days 3
6FSA045		20 business days	30 business days (note 1); 45 business days (note 2)
6FSA046			30 business days (note 1); 45 business days (note 2)
5Section A RMAR		30 business days	30 business days
5Section B RMAR		30 business days	30 business days
5Section C RMAR		30 business days	30 business days
5Section D1 and D2 RMAR		30 business days	30 business days
5Section F RMAR			30 business days
Note 1	For unconsolidated and solo consolidated reports.
Note 2	For UK consolidation group reports

SUP 14.3.1G01/11/2007

Where an incoming EEA firm passporting under the MiFID4, UCITS Directive or Insurance Directives is exercising an EEA right and is providing cross border services into the United Kingdom, the EEA Passport Rights Regulations govern any changes to the details of those services. Where an incoming EEA firm has complied with the relevant requirements in the EEA Passport Rights Regulations, then the firm'spermission given under Schedule 3 to the Act is to be treated as varied accor

PERG 8.12.3G01/07/2005

The exemption applies to situations where a financial promotion is either:(1) made to a person who receives it outside the United Kingdom; or(2) directed at persons who are outside the United Kingdom.

PERG 8.12.4G01/11/2007

The exemption applies whether or not the financial promotion is made from the United Kingdom. However, there is the exception that, if it is an unsolicited real time financial promotion, it must be made from a place outside the United Kingdom and be for the purposes of a business carried on entirely outside the United Kingdom. To give effect to the principle of country of origin regulation of information society services as required by the E-Commerce Directive, article 12(7) of

PERG 8.12.5G01/10/2005

Articles 12(3) and (4) of the Financial Promotion Order (subject to article 12(5) – see PERG 8.12.8 G) have the effect that, where a financial promotion is directed from a place outside the United Kingdom, it will be conclusive proof that it is not directed at persons in the United Kingdom even if it is received by a person in the United Kingdom, if:(1) the financial promotion is not referred to in or directly accessible from another communication (for example, an advertisement

PERG 8.12.7G01/07/2005

Where a financial promotion is directed from within the United Kingdom, articles 12(3) and (4) also state (subject to article 12(5) – see PERG 8.12.8 G) that there can be conclusive proof that the financial promotion is directed only at persons outside the United Kingdom. This will be the case if, in addition to the conditions referred to in PERG 8.12.5G (1) and PERG 8.12.5G (2), the financial promotion is accompanied by an indication that:(1) it is directed only at persons outside

PERG 8.12.8G01/10/2005

In any case, some but not all of the conditions referred to in PERG 8.12.5G (1) to PERG 8.12.5G (2) and PERG 8.12.7G (1) to PERG 8.12.7G (2) (or the additional condition that the communication is included in a website, newspaper or periodical publication which is principally accessed in or intended for a non-UK market or in a radio or television broadcast or teletext service transmitted principally for reception overseas) may be met. In these cases, those conditions being satisfied

CASS 5.5.28R14/01/2005

When a firm receives a client entitlement on behalf of a client, it must pay any part of it which is client money:(1) for client entitlements received in the United Kingdom, into a client bank account in accordance with CASS 5.5.5 R; or(2) for client entitlements received outside the United Kingdom, into any bank account operated by the firm, provided that such client money is:(a) paid to, or in accordance with, the instructions of the client concerned; or(b) paid into a client

CASS 5.5.41R06/01/2008

A firm may hold client money with a bank that is not an approved bank if all the following conditions are met:(1) the client money relates to one or more insurance transactions which are subject to the law or market practice of a jurisdiction outside the United Kingdom;(2) because of the applicable law or market practice of that overseas jurisdiction, it is not possible to hold the client money in a client bank account with an approved bank;(3) the firm holds the money with such

CASS 5.5.53R06/01/2008

A firm must not hold, for a consumer5, client money in a client bank account outside the United Kingdom, unless the firm has previously disclosed to the consumer5 (whether in its terms of business, client agreement11 or otherwise in writing):5511(1) that his money may be deposited in a client bank account outside the United Kingdom but that the client may notify the firm that he does not wish his money to be held in a particular jurisdiction;(2) that in such circumstances, the

CASS 5.5.58R06/01/2008

A firm must not undertake any transaction for a consumer5 that involves client money being passed to another broker or settlement agent located in a jurisdiction outside the United Kingdom, unless the firm has previously disclosed to the consumer5 (whether in its terms of business, client agreement 4or otherwise in writing):554(1) that his client money may be passed to a person outside the United Kingdom but the client may notify the firm that he does not wish his money to be

PERG 4.11.9G01/07/2005

Simplified summary of the territorial scope of the regulated mortgage activities, to be read in conjunction with the rest of this section.

This table belongs to PERG 4.11.8 G

		Individual borrower resident and located:
		in the UK	outside the UK
Service provider carrying on regulated activity from establishment:	in the UK	Yes	Yes
	outside the UK	Yes	No
Yes = authorisation or exemption required No = authorisation or exemption not required

PERG 4.11.19G01/07/2005

In the FSA's view, in circumstances other than those excluded by article 72(5E) of the Regulated Activities Order, an overseas administrator is likely to carry on the regulated activity of administering a regulated mortgage contract in the United Kingdom. This is because:(1) the territorial limitation in the definition of regulated mortgage contract means that regulation applies only if the land is in the United Kingdom;(2) when administrators notify borrowers resident in the

SUP 14.1.1G21/06/2001

1This chapter applies to an incoming EEA firm which has established a branch in, or is providing cross border services into, the United Kingdom under one of the Single Market Directives and, therefore, qualifies for authorisation under Schedule 3 to the Act.

SUP 14.1.3G06/10/2006

(1) Under the Gibraltar Order4 made under section 409 of the Act, a Gibraltar firm is treated as an EEA firm under Schedule 3 to the Act if it is:(a) authorised in Gibraltar under the Insurance Directives; or(b) authorised in Gibraltar under the Banking Consolidation Directive;44(c) authorised in Gibraltar under the Insurance Mediation Directive; or4(d) authorised in Gibraltar under the Investment Services Directive .4(1A) 4Similarly, an EEA firm which:(a) has satisfied the Gibraltar

SUP 14.1.4G06/02/2007

This chapter gives guidance on the Act and the EEA Passport Rights Regulations made under the Act, for an incoming EEA firm which has established a branch in, or is providing cross border services into, the United Kingdom and wishes to change the details of the branch or cross border services. 5

SUP 14.1.6G01/02/2006

This chapter does not, however, give guidance on the procedures for the establishment of a branch in, or the providing of cross border services into, the United Kingdom for the first time. So, an incoming EEA firm that wishes to change or supplement the nature of its operations in the United Kingdom from the providing of cross border services to the establishment of a branch (or vice versa) should refer to 3SUP 13A3 (Qualifying for authorisation under the Act).

PERG 5.12.1G01/07/2005

Section 19 of the Act (The general prohibition) provides that the requirement to be authorised under the Act only applies in relation to regulated activities which are carried on 'in the United Kingdom'. In many cases, it will be quite straightforward to identify where an activity is carried on. But, when there is a cross-border element, for example because a customer is outside the United Kingdom or because some other element of the activity happens outside the United Kingdom,

PERG 5.12.12G01/07/2005

Non-UK-based persons wishing to carry on insurance mediation activities in the United Kingdom must:(1) qualify for authorisation by exercising passport rights (see section 31 (Authorised persons) and schedule 3 (EEA passport rights) to the Act and PERG 5.12.13 G to PERG 5.12.14 G (Passporting)); or(2) make use of the overseas persons exclusion (which then has the effect that activities are deemed not to be regulated activities carried on in the United Kingdom); or(3) seek Part

SUP 13A.1.1G01/02/2006

(1) 1This chapter applies to an EEA firm that wishes to exercise an entitlement to establish a branch in, or provide cross border services into, the United Kingdom under a Single Market Directive. (The Act refers to such an entitlement as an EEA right and its exercise is referred to in the Handbook as "passporting".) (See SUP App 3 (Guidance on passporting issues) for further guidance on passporting.)(2) This chapter also applies to:(a) a Treaty firm that wishes to exercise rights

SUP 13A.1.3G01/11/2007

(1) Under the Gibraltar Order2 made under section 409 of the Act, a Gibraltar firm is treated as an EEA firm under Schedule 3 to the Act if it is:22(a) authorised in Gibraltar under the Insurance Directives; or(b) authorised in Gibraltar under the Banking Consolidation Directive; or22(c) authorised in Gibraltar under the Insurance Mediation Directive; or2(d) authorised in Gibraltar under the MiFID4.24(1A) Similarly, an EEA firm which:2(a) has satisfied the Gibraltar establishment

SUP 13A.1.4G01/02/2006

(1) This chapter explains how an EEA firm and a Treaty firm can qualify for authorisation under Schedules 3 and 4 to the Act and how a UCITS qualifier is authorised under Schedule 5 to the Act. (2) This chapter also provides guidance on Schedule 3 to the Act for an incoming EEA firm that wishes to establish a branch in the United Kingdom instead of, or in addition to, providing cross border services into the United Kingdom or vice versa.

REC 3.1.1R21/06/2001

(1) The notification rules in this chapter, which are made under section 293 of the Act (Notification requirements), apply to all UK recognised bodies.(2) The rules relating to the form and method of notification in REC 3.2 also apply to overseas recognised bodies.

REC 6.7.8R21/06/2001

Where an overseas recognised body has notice that any licence, permission or authorisation which it requires to conduct any regulated activity in its home territory has been or is about to be:(1) revoked; or(2) modified in any way which would materially restrict the overseas recognised body in performing any regulated activity in its home territory or in the United Kingdom;it must immediately notify the FSA of that fact and must give the FSA the information specified for the purposes

REC 6.7.9R21/06/2001

The following information is specified for the purposes of REC 6.7.8 R:(1) particulars of the licence, permission or authorisation which has been or is to be revoked or modified, including particulars of the overseas recognised body's regulated activities to which it relates;(2) an explanation of how the revocation or modification restricts or will restrict the overseas recognised body in carrying on any regulated activity in its home territory or in the United Kingdom;(3) the

REC 6.2.4G21/06/2001

There is no standard application form for application for recognition as an overseas recognised body. An application should be made in accordance with any direction the FSA may make under section 287 (Application by an investment exchange) or section 288 (Application by a clearing house) of the Act and should include:(1) the information, evidence and explanatory material necessary to demonstrate to the FSA that the recognition requirements (set out in REC 6.3) will be met;(2)

DTR 5.1.1R06/10/2007

1In this chapter:(1) references to an2 "issuer", in relation to shares admitted to trading on a regulated market, are to an issuer whose Home State is the United Kingdom;2(2) references to a "non-UKissuer" are to an issuer whose shares are admitted to trading on a regulated market and whose Home State is the United Kingdom other than:(a) a public company within the meaning of section 1(3)of the Companies Act 19854; and4344334(b) a company which is otherwise incorporated in, and

REC 3.18.1G21/06/2001

(1) The purpose of REC 3.18 is to enable the FSA to monitor changes in the types of member admitted by UK recognised bodies and to ensure that the FSA has notice of foreign jurisdictions in which the members of UK recognised bodies are based. UK recognised bodies may admit persons who are not authorised persons or persons who are not located in the United Kingdom, provided that the recognition requirements continue to be met.(2) REC 3.18.2 R focuses on the admission of persons

REC 3.18.3R21/06/2001

Where a UK recognised body admits for the first time a member whose head or registered office is in a jurisdiction from which that UK recognised body has not previously admitted members, it must immediately give the FSA notice of that event, and:(1) the name of that jurisdiction; (2) the name of any regulatory authority in that jurisdiction which regulates that member in respect of activities relating to specified investments; and(3) particulars of its reasons for considering

COBS 4.1.8R01/11/2007

(1) In relation to communications by a firm to a client in relation to its designated investment business this chapter applies in accordance with the general application rule and the rule on business with UKclients from an overseas establishment (COBS 1 Annex 1 Part 2 paragraph 2.1R).(2) In addition, the financial promotion rules apply to a firm in relation to:(a) the communication of a financial promotion to a person inside the United Kingdom;(b) the communication of a cold call

COBS 4.1.9G01/11/2007

(1) The EEA territorial scope rule modifies the general territorial scope of the rules in this chapter to the extent necessary to be compatible with European law. This means that in a number of cases, the rules in this chapter will apply to communications made by UK firms to persons located outside the United Kingdom and will not apply to communications made to persons inside the United Kingdom by EEA firms. Further guidance on this is located in COBS 1 Annex 1.(2) One effect

Related provisions for SUP 13.7.2

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