Submission of Annual Accounts

Under SUP 16.12 firms are required to send various data item returns to the FCA, most of which are submitted electronically.

Annual report and accounts are an exception in that while they appear on GABRIEL (as NGP003) they have to be submitted manually to the Regulator.

The FCA propose automating this process through GABRIEL by way of uploading a new data item – FIN-A. It is intended that this will apply to returns with a reporting period ending on or after 31 December 2014. As part of the changes, the reference to submission of a firm’s annual report and accounts will be moved from SUP 16.12 a new section of the Handbook being SUP 16.7A.

Details can be found in the FCA’s Quarterly Consultation CP14/8. The new annex in SUP 16 ’16 Annex 1AR’ provides an example of FIN-A. Note that:

  • it requires a firm to confirm the accounting standard under which the accounts have been prepared
  • the attestation on FIN-A in respect of the Immigration Act 2014 is only applicable to banks and building societies (see chapter 5 of CP14/8)

The consultation period ends 6 August.

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