Reporting updates
Changes to Regulatory Transactions Forms, effective from 27 October 2007
Certain Regulatory Transaction applications will no longer be available online from 27 October 2007. See Changes to Regulatory Transactions Forms for more information.
Changes affecting Phase two reporters, effective from 1 April 2007
Following consultation, the FSA Board has introduced annex C of Legal Instrument 2007/17, which removes the requirement for Phase two firms to complete section J (which covers Fees) of the MLAR and RMAR. For further information see Handbook Notice 64 and particularly sections 2.9 and 4.11-12.
The FSA Board has also introduced annex M of Legal Instrument 2007/19. This requires UCITS management companies that are undertaking appropriate activities to submit RMAR and/or MLAR returns as part of the Phase two population. For further information, see the note below.
Inclusion of UCITS management companies in the Phase two population, effective from 1 April 2007
Annex M of Legal Instrument 2007/19 corrects an oversight in the drafting of the rules in legal instrument 2005/63 Integrated Regulatory Reporting (Amendment) Instrument 2005, which introduced in SUP 16 the reporting of the Retail Mediation Activities Return (RMAR) by firms carrying on retail investment activities, insurance mediation and mortgage mediation activities in addition to other activities. It also introduced reporting of the Mortgage Lending Activities Return (MLAR) by firms that undertake mortgage lending and mortgage administration.
The policy intention set out in PS04/9 Reporting requirements for mortgage, insurance and investment firms, and audit requirements for insurance intermediaries - Feedback on CP197 and made text (March 2004) was to require all firms that undertake the relevant activities to complete the non-prudential sections of the RMAR and MLAR. Firms that did not undertake other regulated activities would also complete the prudential sections of those returns. However, the requirement for Undertakings for Collective Investments in Transferable Securities (UCITS) management firms to complete the non-prudential sections of these returns was overlooked in the rules.
This oversight has only recently come to light as the requirement for firms that undertake other regulated activities to submit the non-prudential sections of the RMAR and MLAR only start to apply from 1 April 2007
Changes to printing, effective from 12 February 2007
Please note that we have made some changes to help how you manage your "print files". This means:
- you are now able to delete old PDF print files.
- PDF print files older than 30 working days will automatically be deleted; however, you will be able to produce a new print file after the original has been deleted. Alternatively you can save a copy of the PDF if you think that you might need to print it at some point in the future.
Changes to RMAR Section E, effective from 29th January 2007
The FSA Board made rules in April 2006 that changed some of the questions we ask IFAs, insurance mediation firms and mortgage mediation firms for reporting data on professional indemnity insurance. These changes will come into effect on 29th January and will be available on Firms Online from then. You can find a marked-up copy of the amended Section E on page 3 of the Handbook Instrument 2006/14.
Regulatory Transactions:
Change in Control Form
We have made a new simpler paper version of the Change in Control form.
Regulatory Transactions VoP Fee
The new Variation of Permission (VoP) fee of £250 detailed in our rules (see FEES 3.2.7R) is payable for applications submitted on or after 1 October 2006.
