General reporting requirements
Produced in partnership with Orrick, Herrington & Sutcliffe

The following Financial Services practice note produced in partnership with Orrick, Herrington & Sutcliffe provides comprehensive and up to date legal information covering:

  • General reporting requirements
  • General notification requirements
  • Immediate notification requirements
  • Reporting suspicious transactions (market abuse)
  • Behaviour that constitutes market abuse
  • Content and method of suspicious transaction report notification
  • Regular reporting requirements
  • Annual controller's report
  • Annual close links report
  • Compliance reports
  • More...

General reporting requirements

BREXIT: 11pm (GMT) on 31 December 2020 (‘IP completion day’) marked the end of the Brexit transition/implementation period entered into following the UK’s withdrawal from the EU. Following IP completion day, key transitional arrangements come to an end and significant changes begin to take effect across the UK’s legal regime. This document contains guidance on subjects impacted by these changes. Before continuing your research, see: Brexit and financial services: materials on the post-Brexit UK/EU regulatory regime.

Following amendments to the Financial Services and Markets Act 2000 (FSMA 2000) made by the Financial Services Act 2012, the Financial Services Authority ceased to exist and its functions were split between the Financial Conduct Authority (FCA) and the Prudential Regulation Authority (PRA). The Financial Services and Markets Act 2000 (PRA-regulated Activities Order) 2013, SI 2013/556 specifies the activities that are PRA-regulated activities. Accordingly, the PRA is responsible for the authorisation and prudential regulation of firms that carry on PRA-regulated activities. PRA-authorised firms are dual-regulated in that they are also subject to regulation by the FCA for conduct purposes. FCA-authorised firms are regulated solely by the FCA for both prudential and conduct purposes. For further information, see FCA and PRA authorisation under Part 4A of FSMA 2000.

Both FCA and PRA-authorised firms are required to report to the FCA and/or the PRA (as applicable) on a regular basis in relation to

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