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Application provision

1.1 Unless otherwise stated, this Part applies to every firm except an incoming firm.

2.1

03/08/2015

A firm must notify (or procure that another firm in its group notifies) the PRA that it has begun to have or ceased to have close links with any person.

2.2

03/08/2015

Where a firm has elected to report changes in close links on a monthly basis under 3.1, it must:

  1. (1) within fifteen business days of the end of each month, report (or procure that another firm in its group reports) electronically for that month, by completing the Close Links Monthly Report and submitting it through the relevant platform provided by the PRA;
  2. (2) on a quarterly basis, submit (or procure that another firm in its group submits) a group organisation chart, unless there have been no changes since the submission of the previous organisation chart to the PRA, in which case the group organisation chart is not required.

2.3

03/08/2015

The Close Links Monthly Report must include the information specified in the form.

2.4

03/08/2015

Where a firm has not elected to report changes in close links on a monthly basis under 3.1, it must make (or procure that another firm in its group makes) a notification by completing the Close Links Notification Form as soon as reasonably practicable and no later than one month after it becomes aware that it has begun to have or ceased to have close links with any person.

2.5

03/08/2015

The notification submitted under 2.4 must be made by completing the Close Links Notification Form and must include all the relevant information specified therein.