FCA Handbook - SUP 16.15 Reporting under the Electronic Money Regulations

You are viewing SUP 16.15 Reporting under the Electronic Money Regulations as of . SUP 16.15 Reporting under the Electronic Money Regulations was last updated on 30/03/2022.

Guidance

Directions

Rules

Related resources

SUP 16.15 Reporting under the Electronic Money Regulations

Application

This section applies to electronic money issuers that are not credit institutions (see SUP 16.1.1B D).

Purpose

The purpose of this section is to give directions to the electronic money issuers referred to in SUP 16.1.1B D under regulation 49 (Reporting requirements) of the Electronic Money Regulations in relation to:

(1)
the information in respect of their issuance of electronic money and provision of payment services and their compliance with requirements imposed by or under Parts 2 to 5 of the Electronic Money Regulations that they must provide to the FCA; and
(2)
the time at which and the form in which they must provide that information.

The purpose of this section is also to set out the rules applicable to these types of electronic money issuers in relation to complete and timely reporting and, where relevant, the failure to submit reports.

Electronic money institutions should refer to the transitional provisions in SUP TP 1.11 (Payment services and electronic money returns).

Reporting requirement

An electronic money issuer that is not a credit institution must submit to the FCA:

(1)
the duly completed return applicable to it as set out in column (2) of the table in SUP 16.15.8 D; and
(2)
the return referred to in (1):
1. (a)
  in the format specified as applicable in column (3) of the table in SUP 16.15.8 D;
2. (b)
  at the frequency and in respect of the periods specified in column (4) of that table;
3. (c)
  by the due date specified in column (5) of that table; and
4. (d)
  by electronic means made available by the FCA where necessary.

SUP 16.4.5 R (Annual Controllers Report) and SUP 16.5.4 R (Annual Close Links Reports) apply to an authorised electronic money institution as if a reference to firm in these rules were a reference to an authorised electronic money institution.

SUP 16.23.4R to SUP 16.23.7R (Annual Financial Crime Report) apply to an electronic money institution as if a reference to firm in these rules and guidance were a reference to an electronic money institution and the reference to group is read accordingly.

SUP 16.3.11 R (Complete reporting) and SUP 16.3.13 R (Timely reporting) apply to an authorised electronic money institution and a small electronic money institution as if a reference to firm in these rules were a reference to an authorised electronic money institution and a small electronic money institution.

SUP 16.3.14 R (Failure to submit reports) also applies to an authorised electronic money institution and a small electronic money institution as if a reference to firm in these rules were a reference to an authorised electronic money institution and a small electronic money institution.

The table below sets out the format, reporting frequency and due date for submission in relation to regulatory returns that apply to electronic money issuers that are not credit institutions.

(1) Type of electronic money issuer	(2) Return	(3) Format	(4) Reporting Frequency	(5) Due date (Note 4)
Authorised electronic money institution (Note 1)	EMI and SEMI Questionnaire	FIN060	Annual (Note 3)	30 business days





Small electronic money institutions (Note 2)	EMI and SEMI Questionnaire	FIN060	Annual (Note 5)	30 business days
	Total electronic money outstanding @ 31st December	FSA065	Annual (Note 5)	1 month

(a) the Post Office Limited (b) the Bank of England (c) Government departments and local authorities (d) credit unions (e) municipal banks (f) the National Savings Bank	Average outstanding electronic money	No standard format	Annual (Note 6)	30 business days
Note 1	When submitting the completed returns required, the authorised electronic money institution must use the format of the returns set out in SUP 16 Annex 30HD. Guidance notes for the completion of the return are set out in SUP 16 Annex 30IG.
Note 2	When submitting the completed returns required, the small electronic money institution must use the format of the returns set out in SUP 16 Annex 30JD (FIN060) and SUP 16 Annex 30GD (FSA065). Guidance notes for the completion of the FIN060 return are set out in SUP 16 Annex 30KG.
Note 3	This field is calculated from the authorised electronic money institution's accounting reference date.
Note 4	The due dates for returns are the last day of the periods given in column (5) of the table above following the relevant reporting frequency period set out in column (4) of the table above.
Note 5	The reporting frequency in relation to FSA065 is calculated from 31 December each calendar year. In relation to FIN060, this field is calculated from the small electronic money institution's accounting reference date.
Note 6	This is calculated from 31 December each calendar year.