Country by Country Reporting

A reminder to those firms subject to CRD IV of the 1 July 2014 deadline in respect of the first ‘Country by Country’ disclosure – see Regulatory Roundup 52. This initial disclosure (which does not need to audited) is limited to turnover, number of employees and name, nature of activities and geographic location; full disclosures (which must be audited) need to be made annually on or before 31 December each year. For the avoidance of doubt, the first full disclosure must be made on or before 31 December 2015 (there are more stringent requirements for global systemically important institutions).

The disclosure can be made in the firm’s annual report or on a freely accessible website. However, if the latter route is chosen then a link to that website must be included in the annual report.

Further details can be found in HM Treasury Guidance (the link to the Guidance provided in Regulatory Roundup 52 is no longer up to date) and The Capital Requirements (Country-by-Country Reporting) Regulations 2013.