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This Statutory Instrument has been printed in substitution of the SI of the same number and is being issued free of charge to all known recipients of that Statutory Instrument.

Statutory Instruments

2013 No. 3118

Financial Services And Markets

The Capital Requirements (Country-by-Country Reporting) Regulations 2013cross-notes

Made

9th December 2013

Laid before Parliament

10th December 2013

Coming into force

1st January 2014

The Treasury are designated(1) for the purposes of section 2(2) of the European Communities Act 1972(2) in relation to financial services.

The Treasury, in exercise of the powers conferred by section 2(2) of the European Communities Act 1972, make the following Regulations:

Citation, commencement and interpretationI1

1.—(1) These Regulations may be cited as the Capital Requirements (Country-by-Country Reporting) Regulations 2013 and come into force on 1st January 2014.

(2) In these Regulations—

“the 2000 Act” means the Financial Services and Markets Act 2000 ( 3 );

“accepted accounting standards” means “international accounting standards” as defined in Article 2 of Regulation (EC) No 1606/2002 of the European Parliament and the Council of 19 July 2002 on the application of international accounting standards ( 4 ) or “generally accepted accounting practice” as defined in section 1127 of the Corporation Tax Act 2010 ( 5 );

“branch” has the same meaning as in Article 4(1)(17) of the capital requirements regulation;

“corporation tax” means the tax charged on profits by section 2(1) of the Corporation Tax Act 2009 ( 6 ) and any similar tax charged on profits in any jurisdiction outside the United Kingdom;

F1...

[F2 “ the capital requirements regulation ” means Regulation (EU) No. 575/2013 of the European Parliament and of the Council of 26 June 2013 on prudential requirements for credit institutions and investment firms and amending Regulation (EU) No. 648/2012; F2]

[F3 “ FCA investment firm ” has the same meaning as in Part 9C of the 2000 Act; F3]

[F3 “ financial institution ” has the meaning given in Article 4(1)(26) of the capital requirements regulation; F3]

F4...

“global systemically important institution” means a group identified as a global systemically important bank by the Financial Stability Board in Annex 1 to the “2013 update of group of global systemically important banks” published by the Financial Stability Board on 11 November 2013;

“institution” means an institution as defined in Article 4(1)(3) of the capital requirements regulation;

“period of account” has the same meaning as in section 1119 of the Corporation Tax Act 2010 ;

[F5 “ Regulated Activities Order ” means the Financial Services and Markets Act 2000 (Regulated Activities) Order 2001 (S.I. 2001/544); F5]

[F5 “ relevant FCA investment firm ” has the meaning given in paragraph (2A); F5]

[F5 “ small and non-interconnected firm ” has the meaning given in rules made by the Financial Conduct Authority for the purposes of Part 9C of the 2000 Act; F5]

“subsidiary” has the same meaning as in Article 4(1)(16) of the capital requirements regulation.

[F6 (2A) For the purposes of these Regulations, an FCA investment firm is “relevant” if—

(a)it has a branch or subsidiary in a country or territory outside the United Kingdom that is a financial institution, and

(b)it is not a small and non-interconnected firm,

subject to paragraphs (2B) and (2C).

(2B) Where an FCA investment firm which has not been a small and non-interconnected firm for a period becomes a small and non-interconnected firm, it only ceases to be a relevant FCA investment firm once—

(a)it has been a small and non-interconnected firm for a continuous period of six months, and

(b)it has notified the Financial Conduct Authority.

(2C) Where an FCA investment firm which has been a small and non-interconnected firm for a period determines that it is no longer a small and non-interconnected firm—

(a)it must notify the Financial Conduct Authority, and

(b)it does not become a relevant FCA investment firm until—

(i)the end of the period of 12 months beginning with the day on which it made the determination, or

(ii)if the notification specifies an earlier date, that date.F6]

[F7 (3) Any reference in these Regulations to [F8 any EU regulation other than the capital requirements regulation or to anyF8] EU decision or EU tertiary legislation (within the meaning of section 20 of the European Union (Withdrawal) Act 2018) is, unless the contrary intention appears, to be treated as a reference to that EU regulation, EU decision or EU tertiary legislation as it [F9 forms part of [F10 assimilatedF10] lawF9] .F7]

Ongoing reporting obligationI2

2.—(1) Institutions[F11 and relevant FCA investment firmsF11] shall publish information in accordance with paragraphs (2) to (7) on or before 31st December 2015 and on or before 31st December each year thereafter.

(2) The information shall be published in accordance with accepted accounting standards on a consolidated basis for each country in which the institution[F12 or relevant FCA investment firmF12] has a subsidiary or branch, or both.

(3) The information shall relate to the [F13period of account for the institution or relevant FCA investment firmF13] ending immediately prior to the date of publication.

(4) The information in relation to the institution[F14 or relevant FCA investment firmF14] is—

(a)the name, nature of activities and geographical location of the institution[F15 or relevant FCA investment firmF15] and any subsidiaries and branches;

(b)turnover;

(c)the average number of employees on a full time equivalent basis;

(d)profit or loss before tax;

(e)corporation tax paid; and

(f)public subsidies received.

(5) For the purposes of paragraph (4)(c) the average number is determined by dividing the relevant annual number by the number of months in the period of account.

(6) For the purposes of paragraph (5) the relevant annual number is determined by ascertaining for each month in the period of account the number of persons employed on a full time equivalent basis in that month (whether throughout the month or not) and adding together all the monthly totals.

(7) The information shall be audited in accordance with the [F16International Standards on Auditing (United Kingdom and Ireland) issued by the Financial Reporting Council Limited or a predecessor bodyF16] .

(8) An institution[F17 or relevant FCA investment firmF17] shall publish in its annual report how it has complied, or how it will comply, with this regulation.

Interim reporting obligationI3

3.—(1) Institutions[F18 and relevant FCA investment firmsF18] shall publish information in accordance with regulation 2(2) to (6) on or before 1st July 2014 with the exception of the information in regulation 2(4)(d) to (f).

F19(2) Global systemically important institutions incorporated in the United Kingdom shall submit the information specified in regulation 2(4)(d) to (f) ... to Her Majesty’s Revenue and Customs on or before 1st July 2014.

(3) The information referred to in paragraph (2) shall be submitted in accordance with accepted accounting standards on a consolidated basis for each country in which the global systemically important institution has a subsidiary or branch or both and shall relate to that institution’s period of account ending immediately prior to the date the information is submitted.

Group disclosureI4

4.—(1) Where an institution[F20 or relevant FCA investment firmF20] is a member of a group whose members include undertakings which are not subject to the obligations in regulations 2(1) or 3(1) it shall be treated as having met those obligations if the parent undertaking has published the information required by regulations 2(1) or 3(1) in accordance with accepted accounting standards on a consolidated basis for each country in which an undertaking which is a member of the group is situated, in respect of all the undertakings which are members of the group.

(2) For the purposes of this regulation “group”, in relation to an institution[F21 or relevant FCA investment firm F21] , has the same meaning as “immediate group” in section 421ZA of the 2000 Act and “parent undertaking” has the same meaning as it has for the purposes of that section.

Prior disclosure: prevention of duplicationI5

F225.—(1) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

F22(2) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

(3) Where the information referred to in regulation 2(4) relating to an institution[F23 or relevant FCA investment firmF23] has already been published in the United Kingdom in accordance with regulation 2(2), (3) and (5) to (7) the institution[F24 or firmF24] shall be treated as having met the obligation in regulation 2(1) provided the institution[F24 or firmF24] publishes where that information can be obtained.

(4) Where the information referred to in regulation 2(4)(a) to (c) relating to an institution[F25 or relevant FCA investment firmF25] has already been published in the United Kingdom in accordance with regulation 2(2), (3), (5) and (6) the institution[F26 or firmF26] shall be treated as having met the obligation in regulation 3(1) provided the institution[F26 or firmF26] publishes where that information can be obtained.

EnforcementI6

6.—(1) Any obligation imposed under these regulations is to be treated as a relevant requirement under Part 14 of the 2000 Act (disciplinary measures).

(2) For the purposes of paragraph (1) the appropriate regulator for the purposes of Part 14 of the 2000 Act is—

(a)F27the Prudential Regulation Authority in relation to an institution ...;

(b)The Financial Conduct Authority in relation to [F28a relevant FCA investment firmF28] .

David Evennett

Mark Lancaster

Two of the Lords Commissioners of Her Majesty’s Treasury

(2)

1972 c.68. Section 2(2) was amended by section 27 of the Legislative and Regulatory Reform Act 2006 (c. 51) and by section 3 of, and the Schedule to, the European Union (Amendment) Act 2008 (c. 7). By virtue of the amendment of section 1(2) by section 1 of the European Economic Area Act 1993 (c.51) regulations may be made under section 2(2) of the European Communities Act to implement obligations of the United Kingdom created or arising by or under the Agreement on the European Economic Area signed at Oporto on 2nd May 1992 (Cm 2073) and the Protocol adjusting the Agreement signed at Brussels on 17th March 1993 (Cm 2183).

(3)

2000 c.8.

(4)

OJ no L243, 11/9/2002, p.1.

(5)

2010 c.4.

(6)

2009 c.4.

Status: The Capital Requirements (Country-by-Country Reporting) Regulations 2013 is up to date with all changes known to be in force on or before 30 May 2025. There are changes that may be brought into force at a future date. Changes that have been made appear in the content and are referenced with annotations.
The Capital Requirements (Country-by-Country Reporting) Regulations 2013 (2013/3118)
Version from: 27 February 2025

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Status of this instrument

in force Provision is in force
in force* In force only for specified purposes (see footnote)
not in force Not in force in England (may be in force in other geographies, see footnotes)
defined term Defined term
dfn Defined term (alternative style)
footnote commentary transitional and savings in force status related provisions geo extent insert/omit source count in force adj
C1 Regulations: power to modify conferred (11.7.2023) by Financial Services and Markets Act 2023 (c. 29), ss. 3, 86(3), Sch. 1 Pt. 2; S.I. 2023/779, reg. 2(d)
F1 Words in reg. 1(2) omitted (31.12.2020) by virtue of The Capital Requirements (Amendment) (EU Exit) Regulations 2018 (S.I. 2018/1401), regs. 1(3), 30(2)(a) (with savings in S.I. 2019/680, reg. 11); 2020 c. 1, Sch. 5 para. 1(1) this amendment is subject to savings and/or transitional provisions, see the commentary. omitted
F2 Words in reg. 1(2) substituted (1.1.2022) by Financial Services Act 2021 (c. 22), s. 49(5), Sch. 1 para. 49(2); S.I. 2021/671, reg. 5(1)(b) (with reg. 5(2)) (as amended by S.I. 2021/1163, regs. 1(2), 2) this amendment (text substituted) should be read in conjunction with other related provisions, see the commentary. substituted
F3 Words in reg. 1(2) inserted (1.1.2022) by Financial Services Act 2021 (c. 22), s. 49(5), Sch. 1 para. 49(3); S.I. 2021/671, reg. 5(1)(b) (with reg. 5(2)) (as amended by S.I. 2021/1163, regs. 1(2), 2) this amendment (text inserted) should be read in conjunction with other related provisions, see the commentary. inserted
F4 Words in reg. 1(2) omitted (31.12.2020) by virtue of The Capital Requirements (Amendment) (EU Exit) Regulations 2018 (S.I. 2018/1401), regs. 1(3), 30(2)(b) (with savings in S.I. 2019/680, reg. 11); 2020 c. 1, Sch. 5 para. 1(1) this amendment is subject to savings and/or transitional provisions, see the commentary. omitted
F5 Words in reg. 1(2) inserted (1.1.2022) by Financial Services Act 2021 (c. 22), s. 49(5), Sch. 1 para. 49(4); S.I. 2021/671, reg. 5(1)(b) (with reg. 5(2)) (as amended by S.I. 2021/1163, regs. 1(2), 2) this amendment (text inserted) should be read in conjunction with other related provisions, see the commentary. inserted
F6 Reg. 1(2A)-(2C) inserted (1.1.2022) by Financial Services Act 2021 (c. 22), s. 49(5), Sch. 1 para. 50; S.I. 2021/671, reg. 5(1)(b) (with reg. 5(2)) (as amended by S.I. 2021/1163, regs. 1(2), 2) this amendment (text inserted) should be read in conjunction with other related provisions, see the commentary. inserted
F7 Reg. 1(3) inserted (20.12.2018) by The Capital Requirements (Amendment) (EU Exit) Regulations 2018 (S.I. 2018/1401), regs. 1(2), 5 inserted
F8 Words in reg. 1(3) substituted (1.1.2022) by Financial Services Act 2021 (c. 22), s. 49(5), Sch. 1 para. 51; S.I. 2021/671, reg. 5(1)(b) (with reg. 5(2)) (as amended by S.I. 2021/1163, regs. 1(2), 2) this amendment (text substituted) should be read in conjunction with other related provisions, see the commentary. substituted
F9 Words in reg. 1(3) substituted (31.12.2020 immediately before IP completiton day) by The Securities Financing Transactions, Securitisation and Miscellaneous Amendments (EU Exit) Regulations 2020 (S.I. 2020/1385), reg. 1(4), Sch. para. 1(1), (2)(e) substituted
F10 Word in reg. 1(3) substituted (27.2.2025) by The Retained EU Law (Revocation and Reform) Act 2023 (Consequential Amendments) Regulations 2025 (S.I. 2025/82), reg. 1(2), Sch. 9 para. 13 substituted
F11 Words in reg. 2(1) inserted (1.1.2022) by Financial Services Act 2021 (c. 22), s. 49(5), Sch. 1 para. 52(2); S.I. 2021/671, reg. 5(1)(b) (with reg. 5(2)) (as amended by S.I. 2021/1163, regs. 1(2), 2) this amendment (text inserted) should be read in conjunction with other related provisions, see the commentary. inserted
F12 Words in reg. 2(2) inserted (1.1.2022) by Financial Services Act 2021 (c. 22), s. 49(5), Sch. 1 para. 52(3); S.I. 2021/671, reg. 5(1)(b) (with reg. 5(2)) (as amended by S.I. 2021/1163, regs. 1(2), 2) this amendment (text inserted) should be read in conjunction with other related provisions, see the commentary. inserted
F13 Words in reg. 2(3) substituted (1.1.2022) by Financial Services Act 2021 (c. 22), s. 49(5), Sch. 1 para. 52(4); S.I. 2021/671, reg. 5(1)(b) (with reg. 5(2)) (as amended by S.I. 2021/1163, regs. 1(2), 2) this amendment (text substituted) should be read in conjunction with other related provisions, see the commentary. substituted
F14 Words in reg. 2(4) inserted (1.1.2022) by Financial Services Act 2021 (c. 22), s. 49(5), Sch. 1 para. 52(5)(a); S.I. 2021/671, reg. 5(1)(b) (with reg. 5(2)) (as amended by S.I. 2021/1163, regs. 1(2), 2) this amendment (text inserted) should be read in conjunction with other related provisions, see the commentary. inserted
F15 Words in reg. 2(4)(a) inserted (1.1.2022) by Financial Services Act 2021 (c. 22), s. 49(5), Sch. 1 para. 52(5)(b); S.I. 2021/671, reg. 5(1)(b) (with reg. 5(2)) (as amended by S.I. 2021/1163, regs. 1(2), 2) this amendment (text inserted) should be read in conjunction with other related provisions, see the commentary. inserted
F16 Words in reg. 2(7) substituted (31.12.2020) by The Capital Requirements (Amendment) (EU Exit) Regulations 2018 (S.I. 2018/1401), regs. 1(3), 31 (with savings in S.I. 2019/680, reg. 11); 2020 c. 1, Sch. 5 para. 1(1) this amendment is subject to savings and/or transitional provisions, see the commentary. substituted
F17 Words in reg. 2(8) inserted (1.1.2022) by Financial Services Act 2021 (c. 22), s. 49(5), Sch. 1 para. 52(6); S.I. 2021/671, reg. 5(1)(b) (with reg. 5(2)) (as amended by S.I. 2021/1163, regs. 1(2), 2) this amendment (text inserted) should be read in conjunction with other related provisions, see the commentary. inserted
F18 Words in reg. 3(1) inserted (1.1.2022) by Financial Services Act 2021 (c. 22), s. 49(5), Sch. 1 para. 53; S.I. 2021/671, reg. 5(1)(b) (with reg. 5(2)) (as amended by S.I. 2021/1163, regs. 1(2), 2) this amendment (text inserted) should be read in conjunction with other related provisions, see the commentary. inserted
F19 Words in reg. 3(2) omitted (31.12.2020) by virtue of The Capital Requirements (Amendment) (EU Exit) Regulations 2018 (S.I. 2018/1401), regs. 1(3), 32 (with savings in S.I. 2019/680, reg. 11); 2020 c. 1, Sch. 5 para. 1(1) this amendment is subject to savings and/or transitional provisions, see the commentary. omitted
F20 Words in reg. 4(1) inserted (1.1.2022) by Financial Services Act 2021 (c. 22), s. 49(5), Sch. 1 para. 54(2); S.I. 2021/671, reg. 5(1)(b) (with reg. 5(2)) (as amended by S.I. 2021/1163, regs. 1(2), 2) this amendment (text inserted) should be read in conjunction with other related provisions, see the commentary. inserted
F21 Words in reg. 4(2) inserted (1.1.2022) by Financial Services Act 2021 (c. 22), s. 49(5), Sch. 1 para. 54(3); S.I. 2021/671, reg. 5(1)(b) (with reg. 5(2)) (as amended by S.I. 2021/1163, regs. 1(2), 2) this amendment (text inserted) should be read in conjunction with other related provisions, see the commentary. inserted
F22 Reg. 5(1)(2) omitted (31.12.2020) by virtue of The Capital Requirements (Amendment) (EU Exit) Regulations 2018 (S.I. 2018/1401), regs. 1(3), 33 (with savings in S.I. 2019/680, reg. 11); 2020 c. 1, Sch. 5 para. 1(1) this amendment is subject to savings and/or transitional provisions, see the commentary. omitted
F23 Words in reg. 5(3) inserted (1.1.2022) by Financial Services Act 2021 (c. 22), s. 49(5), Sch. 1 para. 55(2)(a); S.I. 2021/671, reg. 5(1)(b) (with reg. 5(2)) (as amended by S.I. 2021/1163, regs. 1(2), 2) this amendment (text inserted) should be read in conjunction with other related provisions, see the commentary. inserted
F24 Words in reg. 5(3) inserted (1.1.2022) by Financial Services Act 2021 (c. 22), s. 49(5), Sch. 1 para. 55(2)(b); S.I. 2021/671, reg. 5(1)(b) (with reg. 5(2)) (as amended by S.I. 2021/1163, regs. 1(2), 2) this amendment (text inserted) should be read in conjunction with other related provisions, see the commentary. inserted
F25 Words in reg. 5(4) inserted (1.1.2022) by Financial Services Act 2021 (c. 22), s. 49(5), Sch. 1 para. 55(3)(a); S.I. 2021/671, reg. 5(1)(b) (with reg. 5(2)) (as amended by S.I. 2021/1163, regs. 1(2), 2) this amendment (text inserted) should be read in conjunction with other related provisions, see the commentary. inserted
F26 Words in reg. 5(4) inserted (1.1.2022) by Financial Services Act 2021 (c. 22), s. 49(5), Sch. 1 para. 55(3)(b); S.I. 2021/671, reg. 5(1)(b) (with reg. 5(2)) (as amended by S.I. 2021/1163, regs. 1(2), 2) this amendment (text inserted) should be read in conjunction with other related provisions, see the commentary. inserted
F27 Words in reg. 6(2)(a) omitted (1.1.2022) by virtue of Financial Services Act 2021 (c. 22), s. 49(5), Sch. 1 para. 56(a); S.I. 2021/671, reg. 5(1)(b) (with reg. 5(2)) (as amended by S.I. 2021/1163, regs. 1(2), 2) this amendment (text omitted) should be read in conjunction with other related provisions, see the commentary. omitted
F28 Words in reg. 6(2)(b) substituted (1.1.2022) by Financial Services Act 2021 (c. 22), s. 49(5), Sch. 1 para. 56(b); S.I. 2021/671, reg. 5(1)(b) (with reg. 5(2)) (as amended by S.I. 2021/1163, regs. 1(2), 2) this amendment (text substituted) should be read in conjunction with other related provisions, see the commentary. substituted
I1 Reg. 1 in force at 1.1.2014, see reg. 1(1)
I2 Reg. 2 in force at 1.1.2014, see reg. 1(1)
I3 Reg. 3 in force at 1.1.2014, see reg. 1(1)
I4 Reg. 4 in force at 1.1.2014, see reg. 1(1)
I5 Reg. 5 in force at 1.1.2014, see reg. 1(1)
I6 Reg. 6 in force at 1.1.2014, see reg. 1(1)
Defined Term Section/Article ID Scope of Application
accepted accounting standards reg. 1. def_c3a6bcf363
branch reg. 1. def_4f8685299b
corporation tax reg. 1. def_5878eba9b1
FCA investment firm reg. 1. def_1d5e75dd28
financial institution reg. 1. def_41b086c2f3
generally accepted accounting practice reg. 1. def_d92ae45b0f
global systemically important institution reg. 1. def_39db1c77dd
group reg. 4. def_3a01198ab0
immediate group reg. 4. def_16b1ac3297
institution reg. 1. def_20beb88a14
international accounting standards reg. 1. def_010ca92751
parent undertaking reg. 4. def_28b8a5f1b9
period of account reg. 1. def_7bea797c39
Regulated Activities Order reg. 1. def_9798267b3b
relevant reg. 1. def_6ff4c727b8
relevant FCA investment firm reg. 1. def_cefcaf9b86
small and non-interconnected firm reg. 1. def_fd2a3a10cf
subsidiary reg. 1. def_4761cdbb5d
the 2000 Act reg. 1. def_6c014e11d1
the capital requirements regulation reg. 1. def_5d8e3a7728

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