Related provisions for MCOB 5.1.1

SUP 16.12.26R01/12/2009

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.

Data item 11	BIPRU 730K firm	BIPRU 125K firm	BIPRU 50K firm	UK consolidation group 11 or defined liquidity group 13 11	Firms other than BIPRU firms
Annual reports and accounts 11 11	Annually	Annually	Annually		Annually 2 8
Annual report and accounts 11of the mixed-activity holding company 11	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	Half yearly11 11
FSA006	Quarterly	Quarterly	Quarterly
FSA007	Annually(note 4)11	Annually(note 4)11	Annually(note 4)11	Annually (note 4)11
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 8
2FSA030					Quarterly 8
2FSA031					Quarterly
2FSA032					Quarterly
2FSA033					Quarterly 8
2FSA034					Quarterly 8
2FSA035					Quarterly 8
2FSA036					Quarterly5 8
2FSA039	Half yearly	Half yearly	Half yearly	11	Half yearly11
6FSA045	Quarterly	Quarterly	Half yearly	Half yearly
6FSA046	Half yearly	Half yearly	Half yearly	Half yearly
13FSA047	Daily, weekly, monthly or quarterly (Notes 5, 6 and 8)			Daily, weekly, monthly or quarterly (Notes 5, 7 and 8)
13FSA048	Daily, weekly, monthly or quarterly (Notes 5, 6 and 8)			Daily, weekly, monthly or quarterly (Notes 5, 7 and 8)
13FSA050	Monthly (Note 5)			Monthly (Note 5)
13FSA051	Monthly (Note 5)			Monthly (Note 5)
13FSA052	Weekly or monthly (Notes 5 and 9)			Weekly or monthly (Notes 5 and 10)
13FSA053	Quarterly (Note 5)			Quarterly (Note 5)
13FSA054	Quarterly (Note 5)			Quarterly (Note 5)
13FSA055	Annually (Note 5)			Annually (Note 5)
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	[deleted]8 8
5Note 2	Annual regulated business revenue up to and including £5 million.
5Note 3	Annual regulated business revenue over £5 million.
11Note 4	The reporting date for this data item is six months after a firm's most recent accounting reference date.
13Note 5	Reporting frequencies and reporting periods for this data item are calculated on a calendar year basis and not from a firm's accounting reference date. In particular: (1) A week means the period beginning on Saturday and ending on Friday. (2) A month begins on the first day of the calendar month and ends on the last day of that month. (3) Quarters end on 31 March, 30 June, 30 September and 31 December. (4) Daily means each business day. All periods are calculated by reference to London time. Any changes to reporting requirements caused by a firm receiving an intra-group liquidity modification (or a variation to one) do not take effect until the first day of the next reporting period applicable under the changed reporting requirements if the firm receives that intra-group liquidity modification or variation part of the way through such a period, unless the intra-group liquidity modification says otherwise.
13Note 6	If the report is on a solo basis the reporting frequency is as follows: (1) if the firm does not have an intra-group liquidity modification the frequency is: (a) weekly if the firm is a standard frequency liquidity reporting firm; and (b) monthly if the firm is a low frequency liquidity reporting firm; (2) if the firm is a group liquidity reporting firm in a non-UK DLG by modification (firm level) the frequency is: (a) weekly if the firm is a standard frequency liquidity reporting firm; and (b) monthly if the firm is a low frequency liquidity reporting firm; (3) the frequency is quarterly if the firm is a group liquidity reporting firm in a UK DLG by modification.
13Note 7	(1) If the report is by reference to the firm's DLG by default the reporting frequency is: (a) weekly if the group liquidity standard frequency reporting conditions are met; (b) monthly if the group liquidity low frequency reporting conditions are met. (2) If the report is by reference to the firm's UK DLG by modification the reporting frequency is: (a) weekly if the group liquidity standard frequency reporting conditions are met; (b) monthly if the group liquidity low frequency reporting conditions are met. (3) If the report is by reference to the firm's non-UK DLG by modification the reporting frequency is quarterly.
13Note 8	(1) If the reporting frequency is otherwise weekly, the item is to be reported on every business day if (and for as long as) there is a firm-specific liquidity stress or market liquidity stress in relation to the firm or group in question. (2) If the reporting frequency is otherwise monthly, the item is to be reported weekly if (and for as long as) there is a firm-specific liquidity stress or market liquidity stress in relation to the firm or group in question. (3) A firm must ensure that it would be able at all times to meet the requirements for daily or weekly reporting under paragraph (1) or (2) even if there is no firm-specific liquidity stress or market liquidity stress and none is expected.
13Note 9	If the report is on a solo basis the reporting frequency is as follows: (1) weekly if the firm is a standard frequency liquidity reporting firm; and (2) monthly if the firm is a low frequency liquidity reporting firm.
13Note 10	If the report is by reference to the firm's UK DLG by modification the reporting frequency is: (1) weekly if the group liquidity standard frequency reporting conditions are met; (2) monthly if the group liquidity low frequency reporting conditions are met.

SYSC 1.1A.1G01/01/2010

1The application of this sourcebook is summarised at a high level in the following table. The detailed application is cut back in SYSC 1 Annex 1 and in the text of each chapter.

Type of firm	Applicable chapters
Insurer	Chapters 2, 3, 11 to 18
Managing agent	Chapters 2, 3, 11, 12, 18
Society	Chapters 2, 3, 12, 18
Every other firm	Chapters 4 to 12, 18, 192

MCOB 5.1.2R30/06/2010

This table belongs to MCOB 5.1.1 R

(1) Category of firm	(2) Applicable section
mortgage lender mortgage adviser mortgage arranger	whole chapter except MCOB 5.82
2 home purchase provider home purchase adviser home purchase arranger	MCOB 5.1.1 R to MCOB 5.1.3 R, MCOB 5.1.6 R to MCOB 5.1.8 G, MCOB 5.2, MCOB 5.3 and MCOB 5.8. MCOB 5.5 and MCOB 5.6 in accordance with MCOB 5.8
2 reversion provider reversion adviser reversion arranger	see MCOB 9.3 for the application of this chapter
3 SRB adviser	MCOB 5.1.1 R to MCOB 5.1.3 R, MCOB 5.2 and MCOB 5.9 4
3 SRB agreement provider	MCOB 5.1.1 R to MCOB 5.1.3 R, 4MCOB 5.2,MCOB 5.9.1 R to MCOB 5.9.2 R (including MCOB 5.9.1A G to MCOB 5.9.1F R), MCOB 5.9.6 R and MCOB 5.9.7G4
3 SRB arranger	MCOB 5.1.1 R to MCOB 5.1.3R, MCOB 5.2 and MCOB 5.94 4

ICOBS 1.1.4G06/01/2008

Guidance on the application provisions is in ICOBS 1 Annex 1 (Part 4).

MCOB 8.1.1R31/10/2004

This chapter applies to a firm in a category listed in column (1) of the table in MCOB 8.1.2 R in accordance with column (2) of that table.

MCOB 8.1.2R06/04/2007

This table belongs to MCOB 8.1.1 R

(1) Category of firm	(2) Applicable section
equity release provider 4 4	whole chapter except MCOB 8.5 and MCOB 8.74
equity release adviser 4 4	whole chapter except MCOB 8.6. MCOB 8.7 does not apply in relation to a lifetime mortgage 4
equity release arranger 4 4	whole chapter except MCOB 8.5. MCOB 8.7 does not apply in relation to a lifetime mortgage 4

MCOB 4.1.1R31/10/2004

This chapter applies to a firm in a category listed in column (1) of the table in MCOB 4.1.2 R in accordance with column (2) of that table.

MCOB 4.1.2R30/06/2010

This table belongs to MCOB 4.1.1 R

(1) Category of firm	(2) Applicable section
mortgage lender	MCOB 4.1 to MCOB 4.4, and MCOB 4.8 to MCOB 4.94 4 3
mortgage adviser	whole chapter exceptMCOB 4.104
mortgage arranger	whole chapter except MCOB 4.7 and MCOB 4.104
4 home purchase provider	MCOB 4.1, MCOB 4.2 and MCOB 4.10 (except MCOB 4.10.5 G to MCOB 4.10.7 G). MCOB 4.3, MCOB 4.4 and MCOB 4.8 in accordance with MCOB 4.10
4 home purchase adviser	MCOB 4.1, MCOB 4.2, MCOB 4.5, MCOB 4.6 and MCOB 4.10.MCOB 4.3, MCOB 4.4, MCOB 4.7 and MCOB 4.8 in accordance with MCOB 4.10
4 home purchase arranger	As for a home purchase adviser exceptMCOB 4.10.5 G to MCOB 4.10.7 G and MCOB 4.7 do not apply
4 reversion provider reversion adviser reversion arranger	see MCOB 8for the application of this chapter5
5 SRB adviser	MCOB 4.1, MCOB 4.2, MCOB 4.5, MCOB 4.6 and MCOB 4.11
5 SRB arranger	MCOB 4.1, MCOB 4.2, MCOB 4.5, MCOB 4.6 and MCOB 4.11
5 SRB agreement provider	MCOB 4.1, MCOB 4.2 and MCOB 4.11

MCOB 6.1.1R31/10/2004

This chapter applies to a firm in a category listed in column (1) of the table in MCOB 6.1.2 R in accordance with column (2) of that table.

MCOB 6.1.2R30/06/2010

This table belongs to MCOB 6.1.1R

(1) Category of firm	(2) Applicable section
mortgage lender	whole chapter except MCOB 6.83
3 home purchase provider	MCOB 6.1 (except MCOB 6.1.6 G), MCOB 6.2 and MCOB 6.8
reversion provider	see MCOB 9.5 for the application of this chapter
4 SRB agreement provider	MCOB 6.1.1 R to MCOB 6.1.3 R, MCOB 6.1.5 R, MCOB 6.2, MCOB 6.3 and MCOB 6.9

MCOB 9.1.2R06/04/2007

This table belongs to MCOB 9.1.1 R

(1) Category of firm	(2) Applicable section
mortgage lender	1MCOB 9.1 - MCOB 9.4.132 R, MCOB 9.5 - MCOB 9.82 2
mortgage administrator	MCOB 9.1, MCOB 9.2, MCOB 9.6 and MCOB 9.8 2
mortgage adviser; mortgage arranger 2	MCOB 9.1 - MCOB 9.4.132 R2and MCOB 9.8.5 R - MCOB 9.8.10 R 2 2
2 reversion provider	MCOB 9.1 - MCOB 9.4.17A R, MCOB 9.4.133 R -MCOB 9.6; MCOB 9.9
2 reversion administrator	MCOB 9.1, MCOB 9.6 and MCOB 9.9
2 reversion adviser; reversion arranger	MCOB 9.1 - MCOB 9.4.17A R, MCOB 9.4.133 R - MCOB 9.4.176 G; MCOB 9.9.8 R

MCOB 2.1.1R31/10/2004

This chapter applies to a firm in a category listed in column (1) of the table in MCOB 2.1.2 R in accordance with column (2) of that table.

MCOB 2.1.2R30/06/2010

This table belongs to MCOB 2.1.1 R

(1) Category of firm	(2) Applicable section
mortgage lender mortgage administrator mortgage adviser mortgage arranger	whole chapter except MCOB 2.2.6A R, MCOB 2.2.8A R, MCOB 2.2.8B G. MCOB 2.6A and MCOB 2.8.6 G1
1 home purchase provider	MCOB 2.1, MCOB 2.2.1 G, MCOB 2.2.6 R to MCOB 2.2.9 G, MCOB 2.5, MCOB 2.6, MCOB 2.6A.1 R to MCOB 2.6A.4 G, MCOB 2.6A.7 G to MCOB 2.6A.10 G, MCOB 2.7.4 R to MCOB 2.7.6 R, MCOB 2.7A2 and MCOB 2.8.6 G
1 home purchase administrator	As for a home purchase provider but MCOB 2.6A.1 R to MCOB 2.6A.4 G and MCOB 2.6A.7 G do not apply
1 home purchase adviser home purchase arranger	As for a home purchase provider but MCOB 2.6A does not apply
1 reversion provider	whole chapter except MCOB 2.2.6A R, MCOB 2.2.8A R and MCOB 2.2.8B G, MCOB 2.6A.7 G, MCOB 2.7.4 R to MCOB 2.7.6 R and MCOB 2.8.6 G
1 reversion administrator reversion arranger	As for a reversion provider but the relevant provisions of MCOB 2.6A apply only when arranging for a home reversion plan to be entered into by a reversion occupier with, or administering a home reversion plan provided by, an unauthorised reversion provider.
1 reversion adviser	As for a reversion provider but MCOB 2.6A does not apply
4 SRB administrator	MCOB 2.1, MCOB 2.2.1 G, MCOB 2.2.2 G, MCOB 2.2.3 R, MCOB 2.2.6 R, MCOB 2.2.7 G, MCOB 2.2.8 G, MCOB 2.5, MCOB 2.6, MCOB 2.6A.5BR (5), MCOB 2.6A.8 R to MCOB 2.6A.11 G, MCOB 2.6A.17A R, MCOB 2.6A.18 G, MCOB 2.7.1 G to MCOB 2.7.5 R, MCOB 2.7A, MCOB 2.8.1 G to MCOB 2.8.5 G.
3 SRB adviser	Whole chapter except MCOB 2.2.5 G, MCOB 2.2.6A R, MCOB 2.2.8A R, MCOB 2.2.8B G, MCOB 2.6A.5 R, MCOB 2.6A.7 G, MCOB 2.6A.17 R and MCOB 2.8.6 G.4 4
3 SRB agreement provider	Whole chapter except MCOB 2.2.5 G, MCOB 2.2.6A R, MCOB 2.2.8A R, MCOB 2.2.8B G, MCOB 2.6A.5 R, MCOB 2.6A.7 G, MCOB 2.6A.17 R, MCOB 2.6A.17A R, MCOB 2.6A.18 G and MCOB 2.8.6 G.4 4
4 SRB arranger	Whole chapter except MCOB 2.2.5 G, MCOB 2.2.6A R, MCOB 2.2.8A R, MCOB 2.2.8B G, MCOB 2.6A.5 R, MCOB 2.6A.7 G, MCOB 2.6A.17 R and MCOB 2.8.6 G.4
a firm that communicates or approves a financial promotion of qualifying credit or of a home reversion plan 1 1	MCOB 2.5, MCOB 2.6, MCOB 2.7 (except, when the financial promotion relates to a home reversion plan, MCOB 2.7.4 R to MCOB 2.7.6 R), MCOB 2.7A2 and MCOB 2.8 (except MCOB 2.8.6 G)1
1a firm that communicates or approves a financial promotion of a home purchase plan	MCOB 2.2.6 R to MCOB 2.2.9 G, MCOB 2.5, MCOB 2.6, MCOB 2.7, MCOB 2.7A2 and MCOB 2.8.6 G

MCOB 7.1.1R31/10/2004

This chapter applies to a firm in a category listed in column (1) of the table in MCOB 7.1.2 R in accordance with column (2) of that table.

MCOB 7.1.2R30/06/2010

This table belongs to MCOB 7.1.1R

(1) Category of firm	(2) Applicable section
mortgage lender	whole chapter except MCOB 7.82
mortgage administrator	MCOB 7.1 - MCOB 7.32and MCOB 7.5 - MCOB 7.7. 2
mortgage adviser and mortgage arranger	MCOB 7.1 - MCOB 7.32and MCOB 7.6.7 R - MCOB 7.7.4 R 2
2 home purchase provider	MCOB 7.1.1 R to MCOB 7.1.4 R, MCOB 7.2, MCOB 7.3 and MCOB 7.8
2 home purchase administrator	As for a home purchase provider except MCOB 7.8.1 R and MCOB 7.8.2 G do not apply
2 home purchase adviser and home purchase arranger	MCOB 7.1.1 R to MCOB 7.1.4 R, MCOB 7.2 and MCOB 7.8.7 G
2 reversion provider reversion administrator reversion adviser reversion arranger	see MCOB 9.6 for the application of this chapter
3 SRB administrator	MCOB 7.9
3 SRB agreement provider	MCOB 7.1 to MCOB 7.3 and MCOB 7.9

SUP 3.1.1R21/06/2001

This chapter applies to:(1) every firm within a category listed in column (1) of the table in SUP 3.1.2 R; and(2) the external auditor of such a firm (if appointed under SUP 3.3 or appointed under or as a result of a statutory provision other than in the Act);in accordance with column (2) or (3) of that table, except as described in the remainder of this section.2

SUP 3.1.2R06/04/2010

Applicable sections (see SUP 3.1.1 R)

(1) Category of firm		(2) Sections applicable to the firm	(3) Sections applicable to its auditor
(1)	Authorised professional firm which is required by IPRU(INV) 2.1.2R to comply with chapters 3, 5,1019 or 13 of IPRU(INV) and which has an auditor appointed under or as a result of a statutory provision other than in the Act 9 (Note 1) 19	SUP 3.1 - SUP 3.7	SUP 3.1, SUP 3.2, SUP 3.8,19SUP 3.10 19
(2)	Authorised professional firm not within (1) to which the custody chapter or client money chapter applies22 , unless the firm is regulated by The Law Society (England and Wales), The Law Society of Scotland or The Law Society of Northern Ireland (Note 2) 17 22	SUP 3.1 - SUP 3.7	SUP 3.1, SUP 3.2, SUP 3.8, SUP 3.10
(3)	Authorised professional firm not within (1) or (2) which has an auditor appointed under or as a result of a statutory provision other than in the Act	SUP 3.1, SUP 3.2, SUP 3.7	SUP 3.1, SUP 3.2, SUP 3.8
(4)	Bank, building society or dormant account fund operator 21which in each case carries on designated investment business 21(Note 2A)	SUP 3.1-SUP 3.7	SUP 3.1, SUP 3.2, SUP 3.8, SUP 3.10
(5)	Bank, building society or a dormant account fund operator which in each case does not carry on designated investment business 21 (Note 2A) 21	SUP 3.1 - SUP 3.7	SUP 3.1, SUP 3.2, SUP 3.8
(5A)	Credit union	SUP 3.1 - SUP 3.7	SUP 3.1, SUP 3.2, SUP 3.8
(5B)	ELMI	SUP 3.1 - SUP 3.7	SUP 3.1, SUP 3.2, SUP 3.8
(6)	Insurer, the Society of Lloyd's, underwriting agent or members' adviser, UK ISPV 11 (Note 5)7	SUP 3.1 - SUP 3.7	SUP 3.1, SUP 3.2, SUP 3.8
(7)	Investment management firm, (other than an exempt CAD firm),16 personal investment firm (other than a small personal investment firm or exempt CAD firm). 15or securities and futures firm (other than an exempt CAD firm or an exempt BIPRU commodities firm 20)15 which, in each case, has an auditor appointed under or as a result of a statutory provision other than in the Act 9(Notes 3 and 3A)17 9 17	SUP 3.1 - SUP 3.7	SUP 3.1, SUP 3.2, SUP 3.8,19SUP 3.10 19
9(7A)	Investment management firm (other than an exempt CAD firm)20, personal investment firm (other than a small personal investment firm or exempt CAD firm 15), or securities and futures firm (other than an exempt CAD firm 15 or an exempt BIPRU commodities firm 20) not within (7) to which the custody chapter or client money chapter applies22 17 22	SUP 3.1 - SUP 3.7	SUP 3.1, SUP 3.2, SUP 3.8, SUP 3.10
9(7B)	UCITS firm 13 13	SUP 3.1 - SUP 3.7	SUP 3.1, SUP 3.2, SUP 3.8,19SUP 3.10 19
13(7C)	UK MiFID investment firm, which has an auditor appointed under or as a result of a statutory provision other than in the Act (Note 3B)20 20	SUP 3.1 - 3.7	SUP 3.1, SUP 3.2, SUP 3.8, SUP 3.1014
17(7D)	Sole trader or partnership that is a UK 20 MiFID investment firm (other than an exempt CAD firm) (Note 3C)20 20	SUP 3.1 - SUP 3.7	SUP 3.1, SUP 3.2, SUP 3.8, SUP 3.10
(8)	Small personal investment firm or service company which, in either case, has an auditor appointed under or as a result of a statutory provision other than in the Act	SUP 3.1, SUP 3.2, SUP 3.7	SUP 3.1, SUP 3.2, SUP 3.8
(9)8	Home finance provider 10 which has an auditor appointed under or as a result of a statutory provision other than in the Act 9 10	SUP 3.1 - SUP 3.78	SUP 3.1, SUP 3.2, SUP 3.88
(10)8	Insurance intermediary (other than an exempt insurance intermediary) to which the insurance client money chapter 17 (except for CASS 5.2 (Holding money as agent)) applies (see Note 4)8 17	SUP 3.1 - SUP 3.78	SUP 3.1, SUP 3.2, SUP 3.8, SUP 3.108
(11)8	Exempt insurance intermediary and insurance intermediary not subject to SUP 3.1.2 R(10) which has an auditor appointed under or as a result of a statutory provision other than in the Act	SUP 3.1, SUP 3.2, SUP 3.78	SUP 3.1, SUP 3.2, SUP 3.88
(12)8	Home finance intermediary 10 or home finance administrator 10 which has an auditor appointed under or as a result of a statutory provision other than in the Act. 10 10	SUP 3.1, SUP 3.2, SUP 3.78	SUP 3.1, SUP 3.2, SUP 3.88
Note 1 = This chapter applies to an authorised professional firm in row (1) (and its auditor) as if the firm were of the relevant type in the right-hand column of IPRU(INV) 2.1.4R.
Note 2 = In row (2): (a) The non-directive custody chapter 17 is treated as applying only if (i) the firm safeguards and administers investments 17in connection with managing investments (other than when acting as trustee) or (ii) it safeguards and administers17 investments in relation to bonded investments (and, in either case, it has not opted to conduct all business that would fall within the non-directive custody chapter under the MiFID custody chapter).17 (b) The non-directive client money chapter 17 is treated as applying only if the firm receives or holds client money other than under an arrangement where commission is rebated to the client (and assuming that it has not opted to conduct all business that would fall within the non-directive client money chapter under the MiFID client money chapter)17; but, if the custody rules or the client money rules above are17 treated as applying, then SUP 3.10 (Duties of auditors: notification and report on client assets) applies to the whole of the business within the scope of the custody rules or the client money rules above17. 17 17 17 17 17 17 17
Note 2A = For this purpose, designated investment business does not include either or both: (a) dealing which falls within the exclusion in article 15 of the Regulated Activities Order (Absence of holding out etc) (or agreeing to do so); and (b) dealing in investments as principal (or agreeing to do so): (i) by a firm whose permission to deal in investments as principal is subject to a limitation to the effect that the firm, in carrying on this regulated activity, is limited to entering into transactions in a manner which, if the firm was an unauthorised person, would come within article 16 of the Regulated Activities Order (Dealing in contractually based investments); and (ii) in a manner which comes within that limitation; having regard to article 4(4) of the Regulated Activities Order (Specified activities:). 18
Note 3 = This note applies in relation to an oil market participant to which IPRU(INV) 3 does not apply and in relation to an energy market participant to which IPRU(INV) 3 does not apply. In SUP 3: (a) only SUP 3.1, SUP 3.2 and SUP 3.7 are applicable to such a firm; and (b) only SUP 3.1, SUP 3.2 and SUP 3.8 are applicable to its auditor; and, in each case, only if it has an auditor appointed under or as a result of a statutory provision other than in the Act.
17Note 3A = If the firm has elected to comply with the MiFID custody chapter or the MiFID client money chapter also in respect of its non-MiFID business then SUP 3.10 will apply to the whole of the business within the scope of the MiFID custody chapter or the MiFID client money chapter.
20Note 3B = UK MiFID investment firms include exempt CAD firms. An exempt CAD firm that has opted into MiFID can benefit from the audit exemption for small companies in the Companies Act legislation if it meets the relevant criteria in that legislation and fulfils the conditions of regulation 4C(3) of the Financial Services and Markets Act 2000 (Markets in Financial Instruments) Regulations 2007. If a firm does so benefit then SUP 3 will not apply to it. For further details about exempt CAD firms, see PERG 13, Q58.
17Note 3C20 = A sole trader or a partnership that is a UK MiFID investment firm 20 to which the custody chapter 22 or client money chapter applies22 20 must have its annual accounts audited. 20 20 22 22
Note 4 = The client money audit requirement in SUP 3.1.2 R(10) therefore applies to all insurance intermediaries except:8 • those which do not hold client money or other client assets in relation to insurance mediation activities; or 8 • those which only hold up to, but not exceeding, £30,000 of client money under a statutory trust arising under CASS 5.3.8 Insurance intermediaries which, in relation to insurance mediation activities, hold no more than that amount of client money only on a statutory trust are exempt insurance intermediaries.8
Note (5) = In row (6):7
(a)7	SUP 3.1 - SUP 3.7 applies to a managing agent in respect of its own business and in respect of the insurance business of each syndicate which it manages; and7
(b)7	SUP 3.1, SUP 3.2 and SUP 3.8 apply to the auditors of a managing agent and the auditors of the insurance business of each syndicate which the managing agent manages.1 2 3 4 5 6 7

SYSC 4.4.5R01/04/2009

A firm must appropriately allocate to one or more individuals, in accordance with the following table, the functions of:

(1)
dealing with the apportionment of responsibilities under SYSC 4.4.3 R; and
(2)
overseeing the establishment and maintenance of systems and controls under SYSC 4.1.1 R.

1: Firm type	2: Allocation of both functions must be to the following individual, if any (see Note):	3: Allocation to one or more individuals selected from this column is compulsory if there is no allocation to an individual in column 2, but is otherwise optional and additional:
(1) A firm which is a body corporate and is a member of a group, other than a firm in row (2)	(1) the firm's chief executive (and all of them jointly, if more than one); or	the firm's and its group's: (1) directors; and (2) senior managers
	(2) a director or senior manager responsible for the overall management of: (a) the group; or (b) a group division within which some or all of the firm's regulated activities fall
(2) An incoming EEA firm or incoming Treaty firm (note: only the functions in SYSC 4.4.5R (2) must be allocated)	(not applicable)	the firm's and its group's: (1) directors; and (2) senior managers
(3) Any other firm	the firm's chief executive (and all of them jointly, if more than one)	the firm's and its group's: (1) directors; and (2) senior managers
Note: Column 2 does not require the involvement of the chief executive or other executive director or senior manager in an aspect of corporate governance if that would be contrary to generally accepted principles of good corporate governance.

SUP 6.4.16G21/06/2001

Types of reports. See SUP 6.4.15 G

Category of firm	Type of report
a bank or building society	• an audited balance sheet which confirms that, in the auditor's opinion, the firm has no remaining deposit liabilities to customers; • a report from auditors or reporting accountants;
a securities and futures firm	• a report from auditors or reporting accountants
an insurer	• an audited closing balance sheet which demonstrates that the firm has no insurance liabilities to policyholders; • a report from the auditors or reporting accountants; and • in some cases, an actuarial opinion as to the likelihood of any remaining liabilities to policyholders.

Related provisions for MCOB 5.1.1

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