INMA 3.3.7 Revision of annual operating expenditure

(1) If an INMA firm:
(a) expects a significant change in its expenditure (either up or down); or
(b) changes its authorised activities;
it must recalculate its annual operating expenditure accordingly.
(2) If an INMA firm has recalculated its annual operating expenditure in accordance with subrule (1), it must submit the recalculation to the Regulatory Authority within 7 days of doing so, and must seek approval for it from the authority. The authority may object to the recalculation within 30 days of receiving it and may direct the firm to revise its net liquid assets requirement accordingly.
Derived from QFCRA RM/2014-4 (as from 1st January 2015).