Regulatory Alerts2021-10-21
Guidance Notes for Completion of Investment Audited Financial Statements and Compliance Returns (Licensee) - Form 142
The Financial Services Commission issues these explanatory notes to guide licensees in accurately completing Form 142, emphasizing that data inaccuracies may trigger penalties under the 2023 Fees and Administrative Penalties Regulations. The document details specific reporting requirements for audited financial statements, financial information, compliance metrics, and statistical data, while highlighting common errors regarding audit opinions and document uploads. It further clarifies complex calculations for Gross and Net Assets Under Regulated Activity to prevent double-counting and ensure consistent regulatory supervision.
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