As mentioned in Regulatory Roundup 22 the FSA introduced a new data item – FSA055 – which was to be completed by non-ILAS BIPRU firms (basically BIPRU limited licence/activity firms and exempt full scope BIPRU investment firms – if any Complyport client is unsure of their status then please speak to your usual Complyport contact).In contrast, ILAS BIPRU firms are required to complete FSA047 to FSA054.
The FSA has received feedback that SUP 16.12 is none too clear on this so minor changes are proposed to SUP 16.12 to clarify the different reporting requirements as well as expanding the guidance on the completion of certain data items for ILAS BIPRU firms.
There are also changes proposed to data items FSA031 and FSA032 (re exempt CAD firms), and associated guidance, in respect of the reporting of PII indemnity limits.
