Regulation 15 Requirements in connection with publication of statutory accounts
If a managing agent publishes any of the statutory accounts of a syndicate, they must be accompanied by the auditor's report on those accounts.
If a managing agent publishes non-statutory accounts of a syndicate, it must publish with them a statement indicating—
that they are not the syndicate's statutory accounts;
whether statutory accounts dealing with any financial year with which the non-statutory accounts purport to deal have been sent to the Authority under regulation 8(2) of these Regulations; and
whether an auditor's report has been made on the syndicate's accounts for any such financial year, and if so whether the report—
was qualified or unqualified, or included a reference to any matters to which the auditor drew attention by way of emphasis without qualifying the report; or
contained a statement under regulation 11(2), (3) or (4).
The managing agent must not publish the auditor's report on the syndicate's statutory accounts with non-statutory accounts.
References in this regulation to the publication by a managing agent of “non-statutory accounts” are to the publication of any balance sheet or profit and loss account relating to, or purporting to deal with, a financial year of the syndicate or an underwriting year of the syndicate otherwise than as part of the syndicate's statutory accounts.
A syndicate's “statutory accounts” are its accounts for a financial year specified in regulations 5(2)(a) and 6 (1) and required to be sent to the Authority under regulation 8(2).
Notes on the whole SI
Textual amendments
- F1
Regulations revoked (14.12.2023 for the revocation of reg. 32) by Financial Services and Markets Act 2023 (c. 29), s. 86(3), Sch. 1 Pt. 2 (with s. 1(4)); S.I. 2023/1382, reg. 2(c)(i)