Revised Forms 142,143,145 & Guidance

REVISED FORMS 142, 143, 145 & GUIDANCE

 The Commission has revised the information requested in the annual licensee return 142. Investment Audited Financial Statements and Compliance Returns (Licensee). Specific revisions are also reflected in 143. Investment Audited Financial Statements (Funds) and 145. Investment Quarterly Return.

These revisions are in response to feedback from industry, with the aim of making the forms clearer and more relevant. Please note that some new items of information are requested.

 The guidance note for the revised Form 142 can be found here. In summary, the main changes to Form 142 are:

• Audit opinion and management letter questions expanded and revised (also on Form 143)
• 9 financial data fields removed
• New data field ‘Fees earned from Controlled Investment Business’
• New data fields ‘Actual liquidity’ and ‘Minimum liquidity requirement’
• New data field ‘Number of regulatory breaches recorded during the Period’
• New data field ‘Net assets under regulated activity’ (also on Form 145)
• ‘Number of client structures administered’ replaced by ‘Total number of POI regulated collective investment schemes serviced’

 Please review your procedures for completing Forms 142, 143 and 145 to ensure that you can complete them correctly and on time, including the new items. Incorrect or incomplete submissions may be returned by the Commission and late submissions/re-submissions may incur a penalty.

 Should you have any questions or technical queries relating to the Online Submissions Portal, please email [email protected] or call the helpline on 733420. For any queries on the information to be provided, please contact Investment, Fiduciary and Pension Division by email at [email protected] or by telephone.