PS04/9: Advisers to report transactions every six months

Details of the 244-page PS04/9 document - Reporting requirements for mortgage, insurance and investment firms, and audit requirements for insurance intermediaries - state firms required to report Retail Mediation Activities Returns (RMARs) will have to filed half yearly by most small firms while larger companies will have to submit all relevant data each quarter. That said, the FSA is prepared to waiver the half-yearly reporting requirement for the first year, for smaller firms conducting “retail mediation activities” where they have gross annual income of less than £60,000. Decisions...