Published: 2nd June 2010

As mentioned in Regulatory Roundup #5, the amended rules governing close links reporting which came into effect on 1 June 2010.

The main change is that close links notification now has to be done using a new FSA form (see the link for details). The new form has to be used whether a firm is notifying changes in close links (SUP 11.9) or if it is submitting its annual close links notification (SUP 16.5).

Note with regard to the latter there is no change to the method of submission in respect of the annual controllers report (SUP 16.4). As a result those firms that used to combine the two annual reports will no longer be able to do so.

The close links notification and reporting rules pre and post 1 June can be found in Annex B of Appendix 1 of PS09/17.

There are also some minor changes to COND 2.3 (Threshold Conditions).

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