Regulatory reporting for investment management and securities & futures firms
Investment Management Firms
Reporting Requirements
The reporting requirements for Investment Management firms have not been affected by the launch of Integrated Regulatory Reporting (IRR) (with the exception of complaints data, please see below) and are set out at SUP 16.7.36R.
In addition to financial and complaints reports, we require firms to provide regular reports on other matters, such as the Annual Controllers and Close Links Report, Audit Annual Financial Statements and Client Assets Report. Details of our regular reporting requirements on firms can be found in chapter 16 of the Supervision manual. Details of the reports to be provided by firms' auditors are set out in chapter 3 of the Supervision manual.
We set out below a summary of the key requirements for small investment management firms. The necessary forms can be found in the Forms section of our website.
Financial returns
All Investment Management firms must continue to submit an Annual Financial Return within four months of the firm's financial year end.
Firms that are subject to the 'liquid capital requirement' set out in IPRU(INV) 5.2.3R (1)(a) or (b) must also submit a Quarterly Financial Return within one month of the quarter end. One Quarterly Financial Return must be prepared to the same date as the Annual Financial Return, but submitted within one month of that date rather than four.
Firms that are subject to an own funds requirement of Euro 730,000 under IPRU(INV) 5.2.3(1)(b) must also submit a Monthly Financial Return within one month of the month end. However, firms need not prepare a Monthly Financial Return in respect of those months to the end of which they must provide a Quarterly Financial Return.
Monthly and Quarterly Financial Returns are not cumulative, and must relate only to the period concerned.
Firms that are subject to consolidated supervision must also submit a Consolidated Financial Resources Return on a half yearly basis within 4 months of the end of the six month period.
Securities & Futures Firms (such as stockbrockers)
Reporting Requirements
The reporting requirements for Securities and Futures firms have not been affected by the launch of Integrated Regulatory Reporting (IRR) (with the exception of complaints data, please see below) and are set out at SUP 16.7.22R onwards.
In addition to financial and complaints reports, we require firms to provide regular reports on other matters, such as the Annual Controllers and Close Links Report, Audit Annual Financial Statements and Client Assets Report.
Upon authorisation each firm is given a reporting schedule and should continue to submit returns according to that timescale.
Firms can use the FiRSt5 system to submit their financial returns. Further information about the FiRSt5 system is provided in the User Guide.
Firms must also submit annual statutory accounts no later than three months from the firm's financial year-end.
For All Firms
Submitting paper returns
Paper returns must be submitted to:
The Financial Services Authority
Baseline Monitoring
Po Box 35747
London E14 5WP
Complaints return
All firms (unless exempt) are required to submit their complaints returns electronically via Firms Online. Firms need to submit the return on a six monthly basis according their accounting reference date (ARD) (also known as its financial year end). Firms are exempt if they have notified us in writing that they do not do (and have no reasonable likelihood of doing) business with eligible complainants – see DISP 1.1.7R.
Firms that have not received any complaints in relation to their mainstream regulated activities during a reporting period are still required to submit a nil-return.