Related provisions for IPRU-INV 13.1.24

BIPRU 1.2.6R01/01/2007

Term trading-related repo-style transactions that a firm accounts for in its non-trading book may be included in the trading book for capital requirement purposes so long as all such repo-style transactions are included. For this purpose, trading-related repo-style transactions are defined as those that meet the requirements of BIPRU 1.2.4 R, BIPRU 1.2.10 R and BIPRU 1.2.12 R, and both legs are in the form of either cash or securities includable in the trading book. Regardless

BIPRU 1.2.6AG29/06/2007

2Capital requirements for term trading-related repo-style transactions are the same whether the risks arise in the trading book as counterparty credit risk or in the non-trading book as credit risk.

BIPRU 1.2.14R01/01/2007

(1) An internal hedge is a position that materially or completely offsets the component risk element of a non-trading bookposition or a set of position. Positions arising from internal hedges are eligible for trading book capital treatment, provided that they are held with trading intent and that the general criteria on trading intent and prudent valuation specified in BIPRU 1.2.12 R and the trading book systems and controls rules. In particular:(a) internal hedges must not be

BIPRU 1.2.35G01/04/2014

All positions that are in a firm'strading book require capital to cover position risk and may require capital to cover counterparty credit risk. Counterparty credit risk in the trading book is dealt with by BIPRU 14.33

BIPRU 1.2.36G01/01/2007

All positions that are not in a firm'strading book are included in its non-trading book and subject capital requirements for the non-trading book unless they are deducted from capital resources under GENPRU 2.2 (Capital resources).

IFPRU 8.1.4R01/01/2014

In carrying out the calculations for the purposes of Part One, Title II, Chapter 2 of the EU CRR (Prudential consolidation), a firm (for whom the FCA is the consolidating supervisor) must include the proportion according to the share of capital held of participations in institutions and financial institutions managed by an undertaking included in the consolidation together with one or more undertakings not included in the consolidation, where those undertakings' liability is limited

IFPRU 8.1.18G01/01/2014

For the purpose of article 113(6)(e) of the EU CRR, for an undertaking that is a firm, the requirement for the prompt transfer of funds refers to own funds in excess of the capital and financial resources requirements to which it is subject under the regulatory system.

IFPRU 8.1.19G01/01/2014

When demonstrating how article 113(6)(e) of the EU CRR is met, the FCA considers that, for a counterparty which is not a firm, the application should include a legally binding agreement between the firm and the counterparty. This agreement will be to promptly, on demand, by the firm increase the firm'sown funds by an amount required to ensure that the firm complies with the provisions contained in Part Two of the EU CRR (Own funds) and any other requirements relating to capital

IFPRU 8.1.20G01/01/2014

For the purpose of article 113(6)(e), the FCA considers that the agreement to increase the firm'sown funds may be limited to capital resources available to the undertaking and may reasonably exclude such amount of capital resources that, if transferred to the firm, would cause the undertaking to become balance sheet insolvent in the manner contemplated in section 123(2) of the Insolvency Act 1986.

IPRU-INV 13.15.4R30/06/2016

When calculating a firm’s capital resources, the following adjustments apply to retained profits or (for sole traders or partnerships) current accounts figures:(1) a firm must deduct any unrealised gains or, where applicable, add back in any unrealised losses on cash flow hedges of financial instruments measured at cost or amortised cost;(2) a firm must de-recognise any defined benefit asset; (3) a firm may substitute for a defined benefit liability its deficit reduction amount

IPRU-INV 13.15.6G30/06/2016

Where a firm is a sole trader or a partnership:(1) it can use (to the extent necessary to make up any shortfall in the required resources) any of its personal assets (not being needed to meet liabilities arising from its personal activities and any business activities not regulated by the FCA);(2) the firm's total financial resources, from whatever source, must at all times be sufficient to cover its total liabilities.

IPRU-INV 13.15.7R30/06/2016

A category B firm may include a short-term subordinated loan as capital resources (see table in IPRU-INV 13.15.3R), if all the conditions in IPRU-INV 13.15.8R are satisfied.

IPRU-INV 13.15.9R30/06/2016

A Category B firm must calculate:(1) the aggregate amount of its short-term subordinated loans and its preference shares which are not redeemable within two years; (2) the amount of the firm's total capital and reserves excluding preference share capital, less the amount of its intangible assets, multiplied by 400%.

IFPRU 4.11.1G01/01/2014

The FCA considers that income-producing real estate (IPRE) is a particularly difficult asset class for which to build effective rating systems that are compliant with the requirements of the internal ratings based (IRB) approach.

IFPRU 4.11.5G01/01/2014

The FCA expects that an IPRE rating system will only be compliant if a firm is able to demonstrate the following in respect of its treatment of cash flows (except where the firm can demonstrate that this is not an appropriate risk driver):(1) the difference in deal ratings when tenant ratings are altered is intuitive;(2) the transformation of ratings into non-rent payment probability is intuitive. Even where tenants are rated by the firm the PD will not usually represent a direct

IFPRU 4.11.6G01/01/2014

The FCA expects that an IPRE rating system will only be compliant if a firm is able to demonstrate the following in respect of its treatment of interest-rate risk (IRR):(1) IRR is included as a relevant risk driver (unless the portfolio is exclusively hedged);(2) the way in which IRR is included in the deal rating is intuitive with respect to model philosophy. For example, a 'point in time' rating should consider the current interest rate and likely change over a one-year time

IFPRU 4.11.18G31/01/2014

The FCA also expects that a firm will be compliant with the validation requirements only where1it can demonstrate that:11(1) appropriate stability metrics should be considered across a range of economic environments (ie, longest period possible including most recent data);(2) the tolerances for the degree of divergence, and associated actions for what should happen when they are not met, is pre-defined; and(3) subsections of portfolios by characteristics affecting risk profile,

LR 13.8.4R06/08/2010

A circular relating to a resolution proposing to reduce the company's capital, other than a reduction of capital pursuant to section 626 of the Companies Act 2006 (Reduction of capital in connection with redenomination),4 must include a statement of the reasons for, and the effects of, the proposal.

LR 13.8.11R01/04/2013

A circular to shareholders about the approval of an employee's share scheme or long-term incentive scheme must:(1) include either the full text of the scheme or a description of its principal terms;(2) include, if directors of the listed company are trustees of the scheme, or have a direct or indirect interest in the trustees, details of the trusteeship or interest;(3) state that the provisions (if any) relating to:(a) the persons to whom, or for whom, securities, cash or other

LR 13.8.16R01/07/2005

(1) A circular to holders of listed securities convertible into shares reminding them of the times when conversion rights are exercisable must include:(a) the date of the last day for lodging conversion forms and the date of the expected sending of the certificates;(b) a statement of the market values for the securities on the first dealing day in each of the six months before the date of the circular and on the latest practicable date before sending the circular;(c) the basis

LR 13.8.18R16/05/2014

8In relation to a listed company which did not previously have a controlling shareholder, LR 13.8.17 R does not apply to a circular sent to shareholders within a period of 3 months from the event that resulted in a person becoming a controlling shareholder of the listed company.

COND 2.4.1AUK01/04/2014

(1) 8The resources of A must be appropriate in relation to the regulated activities that A carries on or seeks to carry on.(2) The matters which are relevant in determining whether A has appropriate resources include-(a) the nature and scale of the business carried on, or to be carried on, by A;(b) the risks to the continuity of the services provided by, or to be provided by, A; and(c) A’s membership of a group and any effect which that membership may have.(3) Except in a case

COND 2.4.1BG01/04/2013

8Paragraph 2D of Schedule 6 to the Act sets out the appropriate resources threshold condition for firms carrying on, or seeking to carry on, regulated activities which do not include a PRA-regulated activity.

COND 2.4.1FG01/04/2013

8As the threshold condition set out in paragraph 3C of Schedule 6 to the Act does not relate to financial resources, the guidance in COND 2.4 relating to appropriate financial resources only applies to the FCA's assessment of the threshold condition set out in paragraph 2D of Schedule 6 of the Act.

COND 2.4.1GG01/04/2013

8Firms carrying on, or seeking to carry on, a PRA-regulated activity, should note that the PRA is responsible for assessing their financial resources. Paragraphs 4D and 5D of Schedule 6 to the Act contain the threshold conditions relating to financial resources which are relevant to the discharge by the PRA of its functions under the Act in relation to firms carrying on, or seeking to carry on, a PRA-regulated activity (in addition to additional non-financial resources threshold

CASS 5.4.1G06/04/2010

(1) CASS 5.4 permits a firm, which has adequate resources, systems and controls, to declare a trust on terms which expressly authorise it, in its capacity as trustee, to make advances of credit to the firm'sclients. The client money trust required by CASS 5.4 extends to such debt obligations which will arise if the firm, as trustee, makes credit advances, to enable a client's3premium obligations to be met before the premium is remitted to the firm and similarly if it allows claims

CASS 5.4.4R01/01/2007

A firm may not handle client money in accordance with the rules in this section unless each of the following conditions is satisfied:(1) the firm must have and maintain systems and controls which are adequate to ensure that the firm is able to monitor and manage its client money transactions and any credit risk arising from the operation of the trust arrangement and, if in accordance with CASS 5.4.2 R a firm complies with both the rules in CASS 5.3 and CASS 5.4, such systems and

CASS 5.4.5G01/01/2007

The amount of a firm's capital resources maintained for the purposes of 2MIPRU 4.2.11 R2 will also satisfy (in whole or in part) the requirement in CASS 5.4.4 R (4).

CASS 5.4.8R14/01/2005

The deed (or equivalent formal document) referred to in CASS 5.4.6 R may provide that:(1) the firm, acting as trustee (or, in Scotland, as agent), has power to make advances or give credit to clients or insurance undertakings from client money, provided that it also provides that any debt or other obligation of a client or resulting obligation of an insurance undertaking, in relation to an advance or credit, is held on the same terms as CASS 5.4.7 R;(2) the benefit of a letter

SUP 16.12.16R01/09/2016

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.

45 Data item	Firms' prudential category
	IFPRU 730K firm	IFPRU 125K firm and collective portfolio management investment firm	IFPRU 50K firm	BIPRU firm	UK consolidation group or defined liquidity group	Firmother than BIPRU firms or IFPRU investment firms
COREP/FINREP	Refer to EU CRR and applicable technical standards				Refer to EU CRR and applicable technical standards
Solvency statement	Annually	Annually	Annually	Annually		Annually
FSA001	Quarterly	Quarterly	Half yearly	Half yearly	Half yearly
FSA002	Quarterly	Quarterly	Half yearly	Half yearly	Half yearly
FSA003				Half yearly	Half yearly
FSA004				Half yearly	Half yearly
FSA005				Half yearly	Half yearly
FSA006	Quarterly	Quarterly	Quarterly	Quarterly	Quarterly
FSA007				Annual (note 4)	Annual (note 4)
FSA016	Half yearly	Half yearly	Half yearly	Half yearly
FSA018	Quarterly	Quarterly	Quarterly
FSA019	Annually	Annually	Annually	Annually	Annually
FSA028				Half yearly
FSA029						Quarterly
FSA030						Quarterly
FSA031						Quarterly
FSA032						Quarterly
FSA033						Quarterly
FSA034						Quarterly
FSA035						Quarterly38
FSA038	Half yearly	Half yearly	Half yearly	Half yearly		Half yearly
FSA039	Half yearly	Half yearly	Half yearly	Half yearly		Half yearly

72		72				72
FSA045	Quarterly	Quarterly	Half yearly	Half yearly	Half yearly
FSA046				Quarterly	Quarterly
FSA047	Daily, weekly, monthly or quarterly (Notes 5, 6 and 8)				Daily, weekly, monthly or quarterly (Notes 5, 7 and 8)
FSA048	Daily, weekly, monthly or quarterly (Notes 5, 6 and 8)				Daily, weekly, monthly or quarterly (Notes 5, 7 and 8)
FSA050	Monthly (Note 5)				Monthly (Note 5)
FSA051	Monthly (Note 5)				Monthly (Note 5)
FSA052	Weekly or monthly (Notes 5 and 9)				Weekly or monthly (Notes 5 and 10)
FSA053	Quarterly (Note 5)				Quarterly (Note 5)
FSA054	Quarterly (Note 5)				Quarterly (Note 5)
FSA055	Annually (Note 5)			Annually (Note 5)	Annually (Note 5)
FSA058				Quarterly	Quarterly
FIN066						Quarterly
FIN067		Quarterly (Note 5)
FIN068				Half yearly
48FIN069						48Quarterly
48FIN070						48Quarterly
52FIN071						Quarterly
Section A RMAR						Half yearly (note 2) Quarterly (note 3)
Section B RMAR						Half yearly (note 2) Quarterly (note 3)
Section C RMAR						Half yearly (note 2) Quarterly (note 3)
Section D1 62 RMAR 50 50						Half yearly (note 2) Quarterly (note 3)
Section F RMAR						Half yearly
Note 1	[deleted]
Note 2	Annual regulated business revenue up to and including £5 million.
Note 3	Annual regulated business revenue over £5 million.
Note 4	The reporting date for this data item is six months after a firm's most recent accounting reference date.
Note 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.
Note 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.
Note 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.
Note 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.
Note 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.
Note 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.

SUP 16.12.20R13/04/2018

2The applicable reporting frequencies for submission of data items referred to in SUP 16.12.4 R are set out in the table below. Reporting frequencies are calculated from a firm's accounting reference date, unless indicated otherwise.

Solvency statement	Annually
69FSA019	Annually
FSA029	Quarterly 8
FSA030	Quarterly 8
FSA031	Quarterly
FSA032	Quarterly
FSA033	Quarterly 8
FSA034	Quarterly 8
FSA035	Quarterly 8 43
FSA039	Half yearly11
52FIN071	Quarterly
69FIN072	Quarterly
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)
Sections D1 and D2 RMAR80 50 50 50 62	Half yearly (note 2) Quarterly (note 3)
5Section F RMAR	Half yearly
Note 1	[deleted]8 8
5Note 2	Annual regulated business revenue up to and including £5 million.
5Note 3	5Annual regulated business revenue over £5 million.

SUP 16.12.23AR13/04/2018

The applicable reporting frequencies for data items referred to in SUP 16.12.22A R are set out in the table below. Reporting frequencies are calculated from a firm's accounting reference date, unless indicated otherwise.45

45 Data item	Frequency
45 Data item	Unconsolidated BIPRU investment firm and IFPRU investment firm	Solo consolidated BIPRU investment firm andIFPRU investment firm	UK Consolidation Group or defined liquidity group	Annual regulated business revenue up to and including £5 million	Annual regulated business revenue over £5 million
COREP/FINREP	Refer to EU CRR and applicable technical standards
Solvency statement	Annually
FSA001	Quarterly or half yearly (Note 1)	Quarterly or half yearly (Note 1)	Half yearly
FSA002	Quarterly or half yearly (Note 1)	Quarterly or half yearly (Note 1)	Half yearly
FSA003	Monthly, quarterly or half yearly (Notes 2 and 11)	Monthly, quarterly or half yearly (Notes 2 and 11)	Half yearly
FSA004	Quarterly or half yearly (Notes 1 and 11)	Quarterly or half yearly (Notes 1 and 11)	Half yearly
FSA005	Quarterly or half yearly (Notes 1 and 11)	Quarterly or half yearly (Notes 1 and 11)	Half yearly
FSA006	Quarterly	Quarterly	Quarterly
FSA007	Annually
FSA016		Half yearly
FSA018	Quarterly	Quarterly	Quarterly
FSA019	Annually	Annually	Annually
FSA028	Half yearly (Note 11)	Half yearly (Note 11)
FSA032				Quarterly	Quarterly
FSA045	Quarterly or half yearly (Note 1)	Quarterly or half yearly (Note 1)	Half yearly
FSA046	Quarterly	Quarterly	Quarterly
FSA047	Daily, weekly, monthly or quarterly (Notes 4, 5 and 7)	Daily, weekly, monthly or quarterly (Notes 4, 5, 7 and 10)	Daily, weekly, monthly or quarterly (Notes 4, 6 and 7)
FSA048	Daily, weekly, monthly or quarterly (Notes 4, 5 and 7)	Daily, weekly, monthly or quarterly (Notes 4, 5, 7 and 10)	Daily, weekly, monthly or quarterly (Notes 4, 6 and 7)
FSA050	Monthly (Note 4)	Monthly (Notes 4 and 10)	Monthly (Note 4)
FSA051	Monthly (Note 4)	Monthly (Notes 4 and 10)	Monthly (Note 4)
FSA052	Weekly or monthly (Notes 4 and 8)	Weekly or monthly (Notes 4, 8 and 10)	Weekly or monthly (Notes 4 and 9)
FSA053	Quarterly (Note 4)	Quarterly (Notes 4 and 10)	Quarterly (Note 4)
FSA054	Quarterly (Note 4)	Quarterly (Notes 4 and 10)	Quarterly (Note 4)
FSA055	Annually (Note 4)	Annually (Notes 4 and 10)	Annually (Note 4)
FSA058	Quarterly (Note 11)	Quarterly (Note 11)	Quarterly
FIN067	Quarterly (Note 4)	Quarterly (Note 4)
FIN068	Half yearly	Half yearly
Section A RMAR				Half yearly	Quarterly
Section B RMAR				Half yearly	Quarterly
Section C RMAR				Half yearly	Quarterly
Sections D1 and D2 RMAR80 50 50 62				Half yearly	Quarterly
Section E RMAR	Half yearly	Half yearly	Half yearly	Half yearly	Quarterly
Section F RMAR	Half yearly	Half yearly	Half yearly	Half yearly	Half yearly
Section G RMAR	Half yearly	Half yearly	Half yearly	Half yearly	Half yearly
Section H RMAR	Half yearly	Half yearly	Half yearly	Half yearly	Half yearly
Section J RMAR	Annually	Annually	Annually	Annually	Annually
Section K RMAR	Annually54 54	Annually54 54	Annually54 54	Annually54 54	Annually54 54
Note 1	IFPRU 730K firms and IFPRU 125K firms - quarterly; IFPRU 50K firms and BIPRU firms - half yearly.
Note 2	IFPRU 730K firms - monthly;80 IFPRU 125K firms - quarterly;80 IFPRU 50K firms and BIPRU firms - half yearly.
Note 3	The reporting date for this data item is six months after a firm's most recent accounting reference date.
Note 4	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.
Note 5	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.
Note 6	(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.
Note 7	(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 (1) or (2) even if there is no firm-specific liquidity stress or market liquidity stress and none is expected.
Note 8	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.
Note 9	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.
Note 10	As specified in SUP 16.12.22A R, solo consolidation has no application to liquidity reporting. Therefore, it does not make any difference to the reporting of this item whether or not the firm is solo consolidated.
Note 11	Only applicable to firms that are not required to report a data item with a similar name and purpose under the EU CRR and applicable technical standards.

SUP 16.12.25AR01/07/2017

2The applicable data items referred to in SUP 16.12.4 R are set out according to type of firm in the table below:

45Description of data item	Firms' prudential category and applicable data item(note 1)
	IFPRU investment firms and BIPRU firms		Firmsother thanBIPRU firms or IFPRU investment firms
	IFPRU	BIPRU	IPRU(INV)Chapter 3	IPRU(INV)Chapter 5	IPRU(INV)Chapter 9	IPRU(INV)Chapter 13	38
Solvency statement (note 11)	No standard format						38
Balance sheet	FSA001/FINREP (Notes 2 and 30)	FSA001 (Note 2)	FSA029	FSA029	FSA029	Section A RMAR (note 17) or FSA029
Income statement	FSA002/FINREP (Notes 2 and 30)	FSA002 (Note 2)	FSA030	FSA030	FSA030	Section B RMAR (note 17) or FSA030
Capital adequacy	COREP (Note 30)	FSA003 (Note 2)	FSA033	FSA034 or FSA035 or FIN07152 (note 14)	FSA031	Section D1 62 RMAR (note 17) or FSA 032 (note 15) 50	38
Credit risk	COREP (Note 30	FSA004 (Notes 2, 3)
Market risk	COREP (Note 30)	FSA005 (Notes 2, 4)
Market risk - supplementary	FSA006 (note 5)	FSA006 (Note 5)
Operational risk	COREP (Note 30)
Large exposures	COREP (Note 30)
UK Integrated group large exposures	FSA018 (note 12)
Exposures between core UK group and non-core large exposures group	FSA016 (note 20)
Solo consolidation data	FSA016 (note 20)
Pillar 2 questionnaire	FSA019 (note 8)	FSA019 (Note 8)
Non-EEA sub-group	COREP (Note 30)	FSA028 (Note 9)
Threshold conditions						Section F RMAR (note 17)
Client money and client assets	FSA039	FSA039	FSA039	FSA039	FSA039	Section C RMAR (Note 13) or FSA039	38
IRB portfolio risk	FSA045 (note 18)	FSA045 (Note 18)
Securitisation: non-trading book	COREP (Note 30)	FSA046 (Note 19)
Daily Flows	FSA047/COREP (Notes 21, 24, 26, 28 and 30)
Enhanced Mismatch Report	FSA048/COREP (Notes 21, 24, 26, 28 and 30)
Liquidity Buffer Qualifying Securities	FSA050/COREP (Notes 22, 25, 26, 28 and 30)
Funding Concentration	FSA051/COREP (Notes 22, 25, 26, 28 and 30)
Pricing data	FSA052/COREP (Notes 22, 26, 28, 29 and 30)
Retail and corporate funding	FSA053/COREP (Notes 22, 25, 26, 28 and 30)
Currency Analysis	FSA054/COREP (Notes 22, 25, 26, 28 and 30)
Systems and Controls Questionnaire	FSA055/COREP (Notes 23, 28 and 30)	FSA055 (notes 23 and 28)45
Securitisation: trading book	COREP (Note 30)	FSA058 (Note 27)
Note 1:	When submitting the completed data item required, a firm must use the format of the data item set out in SUP 16 Annex 24 R. Guidance notes for completion of the data items are contained in SUP 16 Annex 25 G.
Note 2	Firms that are members of a UK consolidation group are also required to submit this report on a UK consolidation group basis.
Note 3	This applies to a firm that is required to submit data item FSA003 and, at any time within the 12 months up to its latest accounting reference date ("the relevant period"), was reporting data item FSA004 ("Firm A") or not reporting this item ("Firm B"). In the case of Firm A it must report this data item if one or both of its last two submissions in the relevant period show that the threshold was exceeded. In the case of Firm B it must report this item if both the last two submissions in the relevant period show that the threshold has been exceeded. The threshold is exceeded where data element 77A in data item FSA003 is greater than £10 million, or its currency equivalent, at the relevant reporting date for the firm.
Note 4	This applies to a firm that is required to submit data item FSA003 and, at any time within the 12 months up to its latest accounting reference date ("the relevant period"), was reporting data item FSA005 ("Firm A") or not reporting this item ("Firm B"). In the case of Firm A it must report this data item if one or both of its last two submissions in the relevant period show that the threshold was exceeded. In the case of Firm B it must report this item if both the last two submissions in the relevant period show that the threshold has been exceeded. The threshold is exceeded where data element 93A in data item FSA003 is greater than £50 million, or its currency equivalent, at the relevant reporting date for the firm.
Note 5	Only applicable to firms with a VaR model permission.
Note 6	[deleted]
Note 7	[deleted]
Note 8	Only applicable to IFPRU investment firms and BIPRU firms that: (a) are subject to consolidated supervision under BIPRU 8, except those that are either included within the consolidated supervision of a group that includes a UK credit institution, or that have been granted an investment firm consolidation waiver; or (b) have been granted an investment firm consolidation waiver; or (c) are not subject to consolidated supervision under BIPRU 8. An IFPRU investment firm and BIPRU firm under (a) must complete the report on the basis of its UK consolidation group. An IFPRU investment firm and BIPRU firm under (b) or (c) must complete the report on the basis of its solo position.
Note 9	This will be applicable to firms that are members of a UK consolidation group on the reporting date.
Note 10	[deleted]55 55
Note 11	Only applicable to a firm that is a sole trader or a partnership, when the report must be submitted by each partner.
Note 12	Only applicable to a firm that has both a core UK group and a non-core large exposures group.
Note 13	FSA039 must only be completed by a firm subject to IPRU(INV) Chapter 13 which is an exempt CAD firm. Section C RMAR must only be completed by a firm subject to IPRU(INV) Chapter 13 which is not an exempt CAD firm.
Note 14	FSA034 must be completed by a firm not subject to the exemption in IPRU(INV) 5.4.2R74, unless it is a firm whose permitted business includes establishing, operating or winding up a personal pension scheme, in which case FIN071 must be completed76. FSA035 must be completed by a firm subject to the exemption in IPRU(INV) 5.4.2R74 76. 74 52
Note 15	FSA032 must be completed by a firm subject to IPRU(INV) Chapter 13 which is an exempt CAD firm.
Note 16	[deleted]
Note 17	This is only applicable to a firm subject to IPRU(INV) Chapter 13 that is not an exempt CAD firm.
Note 18	Only applicable to firms that have an IRB permission.
Note 19	Only applicable to firms that hold securitisation positions, or are the originator or sponsor of securitisations of non-trading book exposures.
Note 20	Only applicable to a firm that has a solo consolidation waiver.
Note 21	A firm must complete this item separately on each of the following bases (if applicable). (1) It must complete it on a solo basis. Therefore even if it has a solo consolidation waiver it must complete the item on an unconsolidated basis by reference to the firm alone. (2) If it a group liquidity reporting firm in a DLG by default and is a UK lead regulated firm, it must complete the item on the basis of that group. (3) If it is a group liquidity reporting firm in a UK DLG by modification, it must complete the item on the basis of that group. (4) If it is a group liquidity reporting firm in a non-UK DLG by modification, it must complete the item on the basis of that group.
Note 22	A firm must complete this item separately on each of the following bases that are applicable. (1) It must complete it on a solo basis unless it is a group liquidity reporting firm in a UK DLG by modification. Therefore even if it has a solo consolidation waiver it must complete the item on an unconsolidated basis by reference to the firm alone. (2) If it is a group liquidity reporting firm in a UK DLG by modification, it must complete the item on the basis of that group.
Note 23	If it is a non-ILAS BIPRU firm, it must complete it on a solo basis. Therefore even if it has a solo consolidation waiver it must complete the item on an unconsolidated basis by reference to the firm alone.
Note 24	(1) This item must be reported in the reporting currency. (2) If any data element is in a currency or currencies other than the reporting currency, all currencies (including the reporting currency) must be combined into a figure in the reporting currency. (3) In addition, all material currencies (which may include the reporting currency) must each be recorded separately (translated into the reporting currency). However if: (a) the reporting frequency is (whether under a rule or under a waiver) quarterly or less than quarterly; or (b) the only material currency is the reporting currency; (3) does not apply. (4) If there are more than three material currencies for this data item, (3) only applies to the three largest in amount. A firm must identify the largest in amount in accordance with the following procedure. (a) For each currency, take the largest of the asset or liability figure as referred to in the definition of material currency. (b) Take the three largest figures from the resulting list of amounts. (5) The date as at which the calculations for the purposes of the definition of material currency are carried out is the last day of the reporting period in question. (6) The reporting currency for this data item is whichever of the following currencies the firm chooses, namely USD (the United States Dollar), EUR (the euro), GBP (sterling), JPY (the Japanese Yen), CHF (the Swiss Franc), CAD (the Canadian Dollar) or SEK (the Swedish Krona).
Note 25	Note 24 applies, except that paragraphs (3), (4) and (5) do not apply, meaning that material currencies must not be recorded separately.
Note 26	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 for the data item in question if the firm receives that intra-group liquidity modification or variation part of the way through such a period. If the change is that the firm does not have to report a particular data item or does not have to report it at a particular reporting level, the firm must nevertheless report that item or at that reporting level for any reporting period that has already begun. This paragraph is subject to anything that the intra-group liquidity modification says to the contrary.
Note 27	Only applicable to firms that hold securitisation positions in the trading book and/or are the originator or sponsor of securitisations held in the trading book.
Note 28	FSA047, FSA048, FSA050, FSA051, FSA052, FSA053 and FSA054 must be completed by an ILAS BIPRU firm. An ILAS BIPRU firm does not need to complete FSA055. A non-ILAS BIPRU firm must complete FSA055 and does not need to complete FSA047, FSA048, FSA050, FSA051, FSA052, FSA053 and FSA054.
Note 29	This data item must be reported only in the currencies named in FSA052, so that liabilities in GBP are reported in GBP in rows 1 to 4, those in USD are reported in USD in rows 5 to 8, and those in Euro are reported in Euro in rows 9 to 12. Liabilities in other currencies are not to be reported.
Note 30	Requirements under COREP and FINREP should be determined with reference to the EU CRR and applicable technical standards.

SUP 16.12.26R01/09/2016

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.

45 Data item	Firms' prudential category
45 Data item	IFPRU 730K firm	IFPRU 125K firm	IFPRU 50K firm	BIPRU firm	UK consolidation group or defined liquidity group	Firms other than BIPRU firms or IFPRU investment firms
COREP/FINREP	Refer to EU CRR and applicable technical standards				Refer to EU CRR and applicable technical standards
Solvency statement	Annually	Annually	Annually	Annually		Annually
FSA001	Quarterly	Quarterly	Half yearly	Half yearly	Half yearly
FSA002	Quarterly	Quarterly	Half yearly	Half yearly	Half yearly
FSA003				Half yearly	Half yearly
FSA004				Half yearly	Half yearly
FSA005				Half yearly	Half yearly
FSA006	Quarterly	Quarterly	Quarterly	Quarterly
FSA007				Annual (note 4)	Annually (note 4)
FSA016	Half yearly	Half yearly	Half yearly	Half yearly
FSA018	Quarterly	Quarterly	Quarterly
FSA019	Annually	Annually	Annually	Annually	Annually
FSA028				Half yearly
FSA029						Quarterly
FSA030						Quarterly
FSA031						Quarterly
FSA032						Quarterly
FSA033						Quarterly
FSA034						Quarterly
FSA035						Quarterly38
FSA039	Half yearly	Half yearly	Half yearly	Half yearly		Half yearly
FSA045	Quarterly	Quarterly	Half yearly	Half yearly	Half yearly
FSA046					Quarterly
FSA047	Daily, weekly, monthly or quarterly (Notes 5, 6 and 8)				Daily, weekly, monthly or quarterly (Notes 5, 7 and 8)
FSA048	Daily, weekly, monthly or quarterly (Notes 5, 6 and 8)				Daily, weekly, monthly or quarterly (Notes 5, 7 and 8)
FSA050	Monthly (Note 5)				Monthly (Note 5)
FSA051	Monthly (Note 5)				Monthly (Note 5)
FSA052	Weekly or monthly (Notes 5 and 9)				Weekly or monthly (Notes 5 and 10)
FSA053	Quarterly (Note 5)				Quarterly (Note 5)
FSA054	Quarterly (Note 5)				Quarterly (Note 5)
FSA055	Annually (Note 5)			Annually (Note 5)	Annually (Note 5)
FSA058	[deleted]	[deleted]	[deleted]	Quarterly	Quarterly
52FIN071						Quarterly
Section A RMAR						Half yearly (note 2) Quarterly (note 3)
Section B RMAR						Half yearly (note 2) Quarterly (note 3)
Section C RMAR						Half yearly (note 2) Quarterly (note 3)
Section D1 62 RMAR 50 50						Half yearly (note 2) Quarterly (note 3)
Section F RMAR						Half yearly
Note 1	[deleted]
Note 2	Annual regulated business revenue up to and including £5 million.
Note 3	Annual regulated business revenue over £5 million.
Note 4	The reporting date for this data item is six months after a firm's most recent accounting reference date.
Note 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.
Note 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.
Note 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.
Note 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.
Note 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.
Note 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.

SUP 16.12.28AR13/04/2018

2The applicable data items, reporting frequencies and submission deadlines referred to in SUP 16.12.4 R are set out in the table below. Reporting frequencies are calculated from a firm's accounting reference date, unless indicated otherwise. The due dates are the last day of the periods given in the table below following the relevant reporting frequency period.

Description of data item 11	Data item 11 (note 1)	Frequency		Submission deadline
		Annual regulated business revenue up to and including £5 million	Annual regulated business revenue over £5 million
Balance Sheet	Section A RMAR	Half yearly	Quarterly	30 business days
Income Statement	Section B RMAR	Half yearly	Quarterly	30 business days
Capital Adequacy (note 3)58	Section D1 RMAR	Half yearly	Quarterly	30 business days
Professional indemnity insurance (note 2)11	Section E RMAR	Half yearly	Quarterly 11 11	30 business days
Threshold Conditions	Section F RMAR	Half yearly	Half yearly	30 business days
Training and Competence	Section G RMAR	Half yearly	Half yearly	30 business days
COBS11 data	Section H RMAR	Half yearly	Half yearly	30 business days
Supplementary product sales data	Section I RMAR	Half yearly11 11	Annually	30 business days
Client money and client assets (note 3)58	Section C RMAR	Half yearly	Quarterly	30 business days
Fees and levies	Section J RMAR	Annually	Annually	30 business days
Note 1	When submitting the completed data item required, a firm must use the format of the data item set out in SUP 16 Annex 18A. Guidance notes for the completion of the data items is set out in SUP 16 Annex 18B.
11Note 2	This item only applies to firms that may be subject to an FCA 80 requirement to hold professional indemnity insurance and are not exempt CAD firms. 68
58Note 3	This item does not apply to firms who only carry on home finance mediation activities exclusively in relation to second charge regulated mortgage contracts or legacy CCA mortgage contracts (or both)66 and who are not otherwise expected to complete it by virtue of carrying out other regulated activities.

MCOB 11.6.26R26/04/2014

When assessing for the purposes of MCOB 11.6.2 R whether a customer will be able to pay the sums due, a firm: (1) must not base its assessment of affordability on the equity in the property which is used as security under the regulated mortgage contract, or take account of an expected increase in property prices;(2) must:(a) where the repayments will be made from the resources of the customer:(i) take full account of the income, net of income tax and national insurance, or net

MCOB 11.6.28R26/04/2014

In taking account (in accordance with MCOB 11.6.26R (2)) of the customer's income or net assets (or both) and the resources of the business for the purposes of its assessment of whether the customer will be able to pay the sums due: (1) a firm must obtain evidence of the income or net assets (or both) of the customer and the resources of the business, as declared by the customer for the purpose of the customer's application for the regulated mortgage contract (or variation); and

MCOB 11.6.30G26/04/2014

The information which a firm should consider when taking account, for the purposes of MCOB 11.6.26R (2)(b), of the strength of the financial resources of the business will vary according to the characteristics of the business, but may include factors such as the cash flow, assets and liabilities of the business.

MCOB 11.6.31R26/04/2014

If a firm is, or should reasonably be aware from information obtained during the application process, that there will, or are likely to, be future changes to the income and expenditure of the customer, or the resources of the business, during the term of the regulated mortgage contract, the firm must take them into account when assessing whether the customer will be able to pay the sums due for the purposes of MCOB 11.6.2 R.

MCOB 11.6.32R26/04/2014

Where a firm chooses, in accordance with MCOB 11.6.25 R, to apply the provisions of MCOB 11.6.26 R to MCOB 11.6.31 R in place of MCOB 11.6.5 R to MCOB 11.6.19 G: (1) its policy in MCOB 11.6.20R (1) need not address each of the matters prescribed in sub-paragraphs (a) to (e) of that rule;(2) MCOB 11.6.23 G does not apply; and (3) in each case the record-keeping requirements in MCOB 11.6.60R (2)(a) to (d) apply only to the extent relevant, but the record in MCOB 11.6.60R (1) must

SYSC 19D.3.19R01/07/2015

A firm must ensure that total variable remuneration does not limit the firm's ability to strengthen its capital base.[Note: article 94(1)(c) of the CRD and Standard 3 of the FSB Compensation Standards]

SYSC 19D.3.21R01/07/2015

A firm that benefits from exceptional government intervention must ensure that:(1) variable remuneration is strictly limited as a percentage of net revenues when it is inconsistent with the maintenance of a sound capital base and timely exit from government support;(2) it restructures remuneration in a manner aligned with sound risk management and long-term growth, including (when appropriate) establishing limits to the remuneration of members of its management body; and(2) no

SYSC 19D.3.23R01/07/2015

(1) A firm must ensure that any measurement of performance used to calculate variable remuneration components or pools of variable remuneration components: (a) includes adjustments for all types of current and future risks and takes into account the cost and quantity of the capital and the liquidity required; and (b) takes into account the need for consistency with the timing and likelihood of the firm receiving potential future revenues incorporated into current earnings. (2)

SYSC 19D.3.44R01/07/2015

(1) A firm must ensure that guaranteed variable remuneration is not part of prospective remuneration plans.(2) A firm must not award, pay or provide guaranteed variable remuneration unless:(a) it is exceptional;(b) it occurs in the context of hiring new dual-regulated firms Remuneration Code staff;(c) the firm has a sound and strong capital base; and(d) it is limited to the first year of service.[Note: article 94(1)(d) and (e) of the CRD and Standard 11 of the FSB Compensation

SYSC 19D.3.56R01/07/2015

(1) A firm must ensure that a substantial portion, which is at least 50%, of any variable remuneration consists of an appropriate balance of:(a) shares or equivalent ownership interests, subject to the legal structure of the firm concerned, or share-linked instruments or equivalent non-cash instruments in the case of a non-listed firm; and(b) where possible, other instruments that in each case adequately reflect the credit quality of the firm as a going concern and are appropriate

SYSC 19D.3.60G01/07/2015

(1) Deferred remuneration paid in:(a) shares or share-linked instruments should be made under a scheme which meets appropriate criteria, including risk adjustment of the performance measure used to determine the initial allocation of shares;(b) cash should also be subject to performance criteria.(2) The FCA would generally expect a firm to have a firm-wide policy (and group-wide policy, where appropriate) on deferral. The proportion deferred should generally rise with the ratio

CONC 10.3.3R01/04/2014

Table: Items which must be deducted in arriving at prudential resources

1	Investments in own shares
2	Investments in subsidiaries (Note 1)
3	Intangible assets (Note 2)
4	Interim net losses (Note 3)
5	Excess of drawings over profits for a sole trader or a partnership (Note 3)
Notes	1 Investments in subsidiaries are the full balance sheet value. 2 Intangible assets are the full balance sheet value of goodwill, capitalised development costs, brand names, trademarks and similar rights and licences. 3 The interim net losses in row 4, and the excess of drawings in row 5, are in relation to the period following the date as at which the capital resources are being computed.

[Note: Until 31 March 2017, transitional provisions apply to CONC 10.3.3 R: see CONC TP 5.1]

CONC 10.3.4R01/04/2014

A subordinated loan/debt must not form part of the prudential resources of the firm unless it meets the following conditions:(1) it has an original maturity of:(a) at least five years; or(b) it is subject to five years' notice of repayment;(2) the claims of the subordinated creditors must rank behind those of all unsubordinated creditors;(3) the only events of default must be non-payment of any interest or principal under the debt agreement or the winding up of the firm;(4) the

CONC 10.3.5R01/04/2014

When calculating its prudential resources, the firm must exclude any amount by which the aggregate amount of its subordinated loans/debts exceeds the amount calculated as follows:

a - b
where:
a	=	Items 1 - 5 in the Table of items which are eligible to contribute to a firm's prudential resources (see CONC 10.3.2 R)
b	=	Items 1 - 5 in the Table of items which must be deducted in arriving at a firm's prudential resources (see CONC 10.3.3 R)

[Note: Until 31 March 2017, transitional provisions apply to CONC 10.3.5 R: see CONC TP 5.2]

IFPRU 4.12.8G01/01/2019

A firm seeking to achieve capital relief by deducting or applying a 1250% risk weight where permitted under articles 244 or 2452 of the EU CRR does not need to make the notification in IFPRU 4.12.1 R.1 However, in such cases, a firm should consider whether the characteristics of the transaction are such that the FCA would reasonably expect prior notice of it.1

IFPRU 4.12.17G01/01/2014

The information the FCA expects a firm to provide in a permission application includes the following:(1) details of the firm's governance processes for significant risk transfer, including details of any relevant committees and the seniority and expertise of key persons involved in sign-off;(2) a copy of the firm's significant risk transfer policy, including details of the significant risk transfer calculation policies, methodologies and any models used to assess risk transfer

IFPRU 4.12.20G01/01/2014

Permissions relating to individual transactions do not need to be granted prior to the execution of a transaction. The FCA does not intend to specify the timeframe in which a firm should submit an individual transaction permission, but the firm should note that capital relief from a specific transaction will not be available until a firm has obtained permission covering the significant risk transfer assessment and capital treatment (unless the transaction is being notified under

IFPRU 4.12.41G01/01/2014

The FCA will seek to ensure that the securitisation framework is not used to undermine or arbitrage other parts of the prudential framework. For other similar credit protection arrangements (eg, those subject credit risk mitigation or trading book requirements), the impact of certain features (such as significant premiums or call options) may cast doubt on the extent of risk transferred and the resulting capital assessment. Features which result in inadequate own funds requirements

SYSC 4.3A.1AR03/01/2018

4Without prejudice to SYSC 4.3A.1R, a common platform firm must ensure that the management body defines, approves and oversees:(1) the organisation of the firm for the provision of investment services and/or activities and ancillary services, including the skills, knowledge and expertise required by personnel, the resources, the procedures and the arrangements for the provision of services and activities, taking into account the nature, scale and complexity of its business and

SYSC 4.3A.4R03/01/2018

A common platform firm4 must devote adequate human and financial resources to the induction and training of members of the management body.[Note: article 91(9) of CRD and article 9(1) of MiFID4]

SYSC 4.3A.8R03/01/2018

A common platform firm4 that is significant must:(1) establish a nomination committee composed of members of the management body who do not perform any executive function in the firm;(2) ensure that the nomination committee is able to use any forms of resources the nomination committee deems appropriate, including external advice; and(3) ensure that the nomination committee receives appropriate funding. [Note: article 88(2) of CRD and article 9(1) of MiFID4]

IPRU-INV 11.3.2R30/12/2015

The funds under management requirement is (subject to a maximum of EUR 10,000,000) the sum of: (1) the base own funds requirement; plus(2) 0.02% of the amount by which the funds under management exceed EUR 250,000,000,[Note: article 9(3) of AIFMD and article 7(1)(a)(i) of the UCITS Directive]

IPRU-INV 11.3.3AEU30/12/2015

(1) In accordance with Articles 95 and 96, an investment firm and firms referred to in point (2)(c) of Article 4(1) that provide the investment services and activities listed in points (2) and (4) of Section A of Annex I to Directive 2004/39/EC shall hold eligible capital of at least one quarter of the fixed overheads of the preceding year. (2) Where there is a change in the business of an investment firm since the preceding year that the

IPRU-INV 11.3.13EU30/12/2015

(1) An AIFM shall implement effective internal operational risk management policies and procedures in order to identify, measure, manage and monitor appropriately operational risks including professional liability risks to which the AIFM is or could be reasonably exposed. The operational risk management activities shall be performed independently as part of the risk management policy. (2) An AIFM shall set up a historical loss database, in which

INSPRU 3.2.5AG07/03/2016

(1) PRA Rulebook: Non-Solvency II firms: Insurance Company – Capital Resources 13.36 requires firms to consider first whether an asset is a derivative or quasi-derivative transaction notwithstanding that it is also capable of falling within one or more other categories in PRA Rulebook: Non-Solvency II firms: Insurance Company – Capital Resources 13.16. If it is a derivative or quasi-derivative transaction it is only admissible if it satisfies the conditions for it to be approved

INSPRU 3.2.6R06/10/2007

A derivative or quasi-derivative is held for the purpose of efficient portfolio management if the firm reasonably believes the derivative or quasi-derivative (either alone or together with any other covered transactions) enables the firm to achieve its investment objectives by one of the following (or, in relation to permitted links, in a manner which includes but is not limited to)1:(1) generating additional capital or income in one of the ways described in INSPRU 3.2.7 R; or(2)

INSPRU 3.2.7R06/10/2007

The generation of additional capital or income falls within INSPRU 3.2.6R (1) where it arises from:(1) taking advantage of pricing imperfections in relation to the acquisition and disposal (or disposal and acquisition) of rights in relation to assets the same as, or equivalent to, admissible assets or permitted links1; or(2) receiving a premium for selling a covered call option or its equivalent, the underlying of which is an admissible asset or permitted link1, even if that additional

INSPRU 3.2.39G07/03/2016

For the purposes of assessing adequate quality in INSPRU 3.2.38R (3), reference should be made to the criteria for credit risk loss mitigation set out in INSPRU 2.1.16 R. The valuation rules in PRA Rulebook: Non-Solvency II firms: Insurance Company – Overall Resources and Valuation6 apply for the purpose of determining the value of both collateral received, and the securities transferred, by the firm. In addition, where collateral takes the form of assets transferred, under the

LR 5.4A.9G01/04/2013

Information required under LR 13.3.1R(1) (Contents of all circulars) to be included in the circular or announcement should include an explanation of:(1) the background and reasons for the proposed transfer;(2) any changes to the issuer's business that have been made or are proposed to be made in connection with the proposal;(3) the effect of the transfer on the issuer's obligations under the listing rules;(4) how the issuer will meet any new eligibility requirements, for example

LR 5.4A.13G01/07/2018

The FCA will not generally reassess compliance with eligibility requirements (for example LR 6.7.1R4 (Working capital)) if the issuer has previously been assessed by the FCA as meeting those requirements under its existing listing category when its securities5 were listed.2

LR 5.4A.15G06/04/2010

An issuer may take steps, in connection with a transfer, which require it to consider whether a prospectus is necessary, for example, if the company or its capital is reconstituted in a way that could amount to an offer of transferable securities to the public. The issuer and its advisers should consider whether directive obligations may be triggered.

BIPRU 2.1.3G01/01/2007

The rules in GENPRU and BIPRU do not allow a firm that is a parent undertaking to incorporate the capital and requirements of a subsidiary undertaking in the calculation of that firm'scapital resources and capital resources requirement. A firm that wishes to incorporate a subsidiary undertaking for this purpose should therefore apply for a solo consolidation waiver.

BIPRU 2.1.7R01/01/2014

A firm that has a solo consolidation waiver must incorporate in the calculation of its requirements under the main BIPRU firm Pillar 1 rules each subsidiary undertaking to which the solo consolidation waiver applies. This does not apply to the base capital resources requirement.323

BIPRU 2.1.24R01/04/2013

A firm must be able to demonstrate fully to the appropriate regulator the circumstances and arrangements, including legal arrangements, by virtue of which there are no material practical or legal impediments, and none are foreseen, to the prompt transfer of the capital resources of the subsidiary undertaking referred to in BIPRU 2.1.19 R or repayment of liabilities when due by the subsidiary undertaking to the firm.

BIPRU 12.2.1R01/12/2009

(1) A firm must at all times maintain liquidity resources which are adequate, both as to amount and quality, to ensure that there is no significant risk that its liabilities cannot be met as they fall due.(2) For the purpose of (1):(a) a firm may not include liquidity resources that can be made available by other members of its group;(b) an incoming EEA firm or a third country BIPRU firm may not, in relation to its UK branch, include liquidity resources other than those which

BIPRU 12.2.3R01/12/2009

The conditions to which BIPRU 12.2.1R (2)(b) refers are that the firm's liquidity resources are:(1) under the day-to-day control of the UK branch's senior management;(2) held in an account with one or more custodians in the sole name of the UK branch;(3) unencumbered; and(4) for the purpose of the overall liquidity adequacy rule only, attributed to the balance sheet of the UK branch.

BIPRU 12.2.5G01/12/2009

For the purposes of the overall liquidity adequacy rule, liquidity resources are not confined to the amount or value of a firm's marketable, or otherwise realisable, assets. Rather, in assessing the adequacy of those resources, a firm should have regard to the overall character of the resources available to it which enable it to meet its liabilities as they fall due. Therefore, for the purposes of that rule, a firm should ensure that:(1) it holds sufficient assets which are

BIPRU 9.4.1R31/12/2010

The originator of a traditional securitisation may exclude securitised exposures from the calculation of risk weighted exposure amounts and expected loss amounts if either of the following conditions is fulfilled:(1) 2significant credit risk associated with the securitised exposures is considered to have been transferred to third parties; or(2) 2the originator applies a 1250% risk weight to all securitisation positions it holds in the securitisation or deducts these securitisation

BIPRU 9.4.11R31/12/2010

2Significant credit risk will be considered to be transferred for an originator in the following cases:(1) 2the risk weighted exposure amounts of the mezzanine securitisation positions held by the originator in the securitisation do not exceed 50% of the risk weighted exposure amounts of all mezzanine securitisation positions existing in this securitisation;(2) 2where there are no mezzanine securitisation positions in a given securitisation and the originator can demonstrate that

BIPRU 9.4.15D31/12/2010

2An originator's application for a waiver of the requirements in BIPRU 9.4.11R and BIPRU 9.4.12R must demonstrate that the following conditions are satisfied.(1) 2it has policies and methodologies in place which ensure that the possible reduction of capital requirements which the originator achieves by the securitisation is justified by a commensurate transfer of credit risk to third parties; and(2) 2that such a transfer of credit risk to third parties is also recognised for the

Related provisions for IPRU-INV 13.1.24

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