The Regulatory Roundup Issue 10, 12 March 2010, reported that the FSA’s new reporting system – Online Notifications and Applications (‘ONA’) – had slipped a little behind on its release. On 7th June 2010 the electronic submission system, see link, was launched and allows for the application or notification of Approved Persons, Appointed Representatives, Variations of permissions, Passports, Cancellations, Waivers and Standing data.
Changes to the FSA Handbook, e.g. SUP 16 ‘Reporting Requirements’, are incorporated in the ‘Online submission and mandatory forms (no 2) Instrument 2010’.
Note that the Standing data requirements have changed slightly – please look at the instrument on page 25, 16 Annex 16AR for details on the new requirements . ‘ONA replaces existing paper-based processes and systems such as Firms Online’, which has been decommissioned.
Firms will have a 3 month period in which they have a choice to use the new electronic system or continue to submit using the hard copy method. Electronic submissions will become mandatory from 4 October 2010.
Firms will need to register before using ONA – see link.
