General reporting requirements

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Produced in partnership with Orrick, Herrington & Sutcliffe
Practice notes

General reporting requirements

Copyright © 2025 LexisNexis

Produced in partnership with Orrick, Herrington & Sutcliffe

Practice notes
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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 the firm's financial condition and its compliance with applicable rules and requirements imposed by or under FSMA 2000. The relevant

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Jurisdiction(s):
United Kingdom
Related legal acts:
Key definition:
Reporting definition
What does Reporting mean?

This involves providing members with annual or quarterly updates on the performance of their chosen investment funds as well as an obligatory annual forecast on the value in today's terms of their accumulated benefits today and at retirement.

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