Repealed Subsidiary 2007/002
Financial Services (Investment and Fiduciary Services)
FINANCIAL SERVICES (CAPITAL ADEQUACY OF INVESTMENT
FIRMS) REGULATIONS 2007 An investment firm shall provide the Authority with all the
information necessary for the assessment of its compliance with these Regulations and shall maintain internal control mechanisms and administrative and accounting procedures which permit the verification of such compliance.
(2) An investment firm shall report to the Authority in the manner specified by the latter at least once every month in the case of firms covered by regulation 5(8), at least once every three months in the case of firms covered by regulation 5(1) and at least once every six months in the case of firms covered by regulation 5(2).
(3) Notwithstanding sub-regulation (2), an investment firm covered by regulations 5(1) and (8) shall be required to provide the information on a consolidated or sub-consolidated basis once every six months.
(4) An investment firm shall report to the Authority immediately any case in which its counter-parties in repurchase and reverse repurchase agreements or securities and commodities-lending and securities and commodities- borrowing transactions, default on their obligations.
An investment firm shall comply with the requirements of regulation
22 (2) of the FSCACI Regulations as regards the format of the reports and
their frequency 2012.
32.(1) Regulations 80 to 83 and 86 of the FSCACI Regulations shall apply mutatis mutandis to the supervision of investment firms and references to
regulations 78 and 79 of those references to regulation 30.
Regulations shall be construed as a
(2) Where a European parent financial holding company has as subsidiary both a credit institution and an investment firm, regulations 80 to 83 and 86 of the FSCACI Regulations shall apply to its supervision as if references to credit institutions were to investment firms.
Regulations shall apply to the recognition of internal models
the FSCACI of investment
by a European parent credit institution and its subsidiaries;
a European parent investment firm and its subsidiaries; or