INMA 3.3.6 Calculating annual operating expenditure
(1) An INMA firm's annual operating expenditure is the annualised total of the expenses for the year to date that arose in the normal course of the firm's business, as reported to the Regulatory Authority in the firm's most recent form BR200.
(2) If the firm:
(a) has not yet reported in form BR200; or
(b) at any time during the current reporting period, was not an INMA firm;
the firm must base its annual operating expenditure on the budgeted or forecast accounts that it submitted to the Regulatory Authority as part of its application for authorisation (or any application to vary the scope of its authorisation).
|Derived from QFCRA RM/2014-4 (as from 1st January 2015).|