FCA Handbook - SSR 5.6 Annual attestation requirement for market maker exemption users

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SSR 5.6 Annual attestation requirement for market maker exemption users

A person who:

(1) has notified the FCA under SSR 5.5.1R(1); and
(2) has not:
1. (a) notified the FCA under SSR 5.7.1R(1); or
2. (b) been prohibited from using the market maker exemption under SSR 5.8.1R,
must submit to the FCA the attestation form in SSR 5 Annex 2R.

A person subject to SSR 5.6.1R must submit the attestation form in SSR 5 Annex 2R annually, by the first working day of June.

An attestation made under SSR 5.6.2R must be signed by a senior person who is the person responsible for the entity’s regulatory obligations in relation to short selling for its market making activities.

(1) A person who intends to submit the attestation form in SSR 5 Annex 2R is encouraged to do so ahead of the first working day of June.
(2) In accordance with SSR 5.7.1R(1)(c) and (2), a person who is unsure about whether they meet the conditions of the market maker exemption should contact the FCA via email to the address specified on the short selling section of the FCA website as early as possible.

An attestation form required under SSR 5.6.1R must be submitted to the FCA via means specified on the short selling section of the FCA website.

The FCA will provide an acknowledgement of receipt to the attesting person within 15 calendar days from the day on which the attestation form in SSR 5 Annex 2R was received.

Persons who do not provide an annual attestation

(1) Where a person does not provide an attestation, the FCA will take this as an indication that the person no longer considers themselves to qualify for the market maker exemption.
(2) Without prejudice to any other action available to the FCA, where a person does not provide an attestation in accordance with SSR 5.6.1R, the FCA will initiate the process to prohibit use of the market maker exemption as set out in SSR 5.9.1G and modified by SSR 5.9.2G.