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News – 10.04.24
Form PF: Are you up to speed with the latest developments?
Through this insight we will bring to your attention the main changes in a bitesize manner so that you can stay abreast of the requirements as they may apply to your firm. … Read more
Insight
Tax relief on heritage assets: Am I eligible?
For assets considered to be of national heritage, relief from Capital Gains Tax and Inheritance Tax is available. … Read more
Upcoming event – 06.06.24
Demystifying charity investments with Buzzacott and Rathbones
Join experts from Buzzacott and Rathbones for key insights on investment governance and strategic decision-making. … Read more
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130 Wood Street, London, EC2V 6DL
enquiries@buzzacott.co.uk T +44 (0)20 7556 1200
However complex your business operations, we invest time upfront to understand them fully. We then customise our working papers to show capital and liquidity adequacy calculations as per the MIFIDPRU rules mapped into the FCA returns.
The FCA typically burden firms with around 40 individual returns each year, of varying frequency cycles and often with stringent deadlines. Our expert team can take all of it off your plate.
We'll keep you ahead of the process by monitoring your reporting timetable, and, where possible, doing calculations and data-gathering up front. We'll also make sure you have plenty of approval time to avoid those stressful, last-minute scrambles.
You can learn more about FCA regulatory returns by clicking below:
|
Financial returns |
Details |
| FSA029 Balance Sheet | A snapshot of the assets and liabilities of a firm and details of items which might potentially impact the firm's financial health if they were to crystallise. |
| FSA030 Profit and Loss Account | Reports the main sources of income and expenditure for a firm on a cumulative basis for the firm's current financial year up to the reporting date. |
| FSA033 Capital adequacy | Gives information on the regulatory capital and capital requirement only for firms subject to IPRU (INV) Chapter 3. |
| FSA035 Capital Adequacy | Provides information on the regulatory capital and own funds requirement only for firms subject to IPRU (INV) Chapter 5 that fall within one of the exceptions in 5.4.2R. |
| MIF001 Own Funds | Information on the solvency of the firm and reflection of the underlying adequate financial resources requirements as set out in MIFIDPRU. |
| MIF002 Liquid Assets | Information on the firm's liquidity position and reflection of the underlying adequate financial resources requirements in MIFIDPRU 6 and MIFIDPRU 7. |
| MIF003 Monitoring Metrics | Information on the size and complexity of the investment firm and monitoring of the SNI thresholds as set out in MIFIDPRU. |
| MIF004 Non-K-CON Concentration Risk | Gathering information on the various types of concentration risk for non-SNI firms only. |
| MIF006 Group Capital Test | Ensuring appropriate amounts and quality of capital are held to cover the value of the investments for a parent undertaking for which the group capital test applies only. |
| FIN066 Capital adequacy for collective portfolio management firms | Supplementary capital data for collective portfolio management firms only. |
| FIN067 Additional Reporting for Collective Portfolio Management Investment Firms |
Supplementary capital data for collective portfolio management investment firms only |
These returns are submitted quarterly and with reference to either your accounting year or the calendar year.
A UK parent entity of an investment firm group to which consolidation applies (MIFIDPRU 2.5) must also submit the FSA029, FSA030, MIF001, MIF002 and MIF003 returns on consolidated basis.
|
Non-financial returns |
Details |
| Complaints DISP 1 Ann 1R | Reporting any complaints made against the firm. |
| FSA038 Volumes and type of business | Reporting the volume of total Funds Under Management of the firm, how much of that was drawn down capital, as well as if it conducted Designated Investment Business for/with retail clients. |
| FSA039 Client Money and Client Assets | Reporting whether the firm held Client Money and Client Assets and if it undertakes stock lending activities using clients' custody assets. |
| RMA-G Training and competence | Assessing the nature of firms’ compliance with training and competence requirements. |
Submitted on a semi-annual basis with reference to the accounting year.
| Non-financial returns | Details |
| FIN-A Annual report and accounts | Uploading the annual report and accounts, extracting the relevant information and, where applicable, attest compliance with the requirements under the Immigration Act 2014. |
| REP001 Close Links Report | A comprehensive list of the firm's close links on a ‘continuous basis’ to ensure that the effective supervision is not disrupted (COND 2.3) while ensuring appropriate protection of consumers. |
| REP002 Controllers Report | Providing the FCA and PRA with regular and comprehensive information about the identities of all the controllers of the firm. |
| REP008 Notification of Disciplinary Action relating to conduct rules staff (other than SMF managers) | Report on whether the firm has taken disciplinary action against individuals who are not Senior Managers for breaches of the Conduct Rules and, if so, the details of the breach. |
| REP-CRIM Financial Crime Report | Information collected through REP-CRIM helps the FCA to improve the focus and effectiveness of its risk-based supervisory approach. |
Submitted on an annual basis with reference the accounting year, except REP008.
| Non-financial returns | Details |
| FIN074 Economic Crime Levy | Reporting the amount of UK gross revenue so that the FCA can determine the firm's liability to pay the Economic Crime Levy and place them in the correct levy band. |
Submitted on an annual basis in May with reference to the firm's financial year that ended in the previous tax year.
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