FSA Annual Report 2006/07 - Better Regulation Ltd

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152 Section six – Appendices Appendix 7 Insurance companies operating in the UK as at 31 March 2007 Insurance Companies Life Composite General Total UK companies 121 19 384 524 EEA Companies with head office outside UK (EEA Branch) 4 5 68 77 EEA Companies with head office outside UK (EEA Service) 79 21 279 379 Non-EEA Companies 11 2 57 70 Sub-total 215 47 788 1,050 Lloyd’s Firms 82 1,132 Insurance Brokers Total UK General Insurance Intermediaries 8,225 None-UK GI Intermediaries 28 8,253 Banks operating in the UK as at 31 March 2007 Banks (Wholesale or Retail) 2006/07 UK Incorporated 157 Non-EEA Branches 79 UK Branch of an EEA Firm 90 UK Service of an EEA Firm 5 331
Section six – Appendices Appendix 7 153 Approved Persons as at 31 March 2007 Number of Approved Persons 167,276 Number of Controlled Functions carried out by approved persons: 296,424 of which – Significant Influence Functions 146,758 – Customer Functions 149,666 During 2006/07, we approved 54,583 applications for individuals to perform controlled functions. During the same period 1,626 individual applications were withdrawn during the application process and we processed applications for 34,038 withdrawals of Controlled Functions. Collective Investment Schemes Unit Trusts ICVCs Offshore Total Schemes 1 April 2006 877 361 298 1,536 New Authorisations 57 66 47 170 Terminations 56 9 15 80 31 March 2007 878 418 330 1,626 Sub-fund population: 31 March 2007 127 1,696 3,563 5,386 We authorise UK unit trusts and Investment Companies with Variable Capital (ICVCs), which are the UK version of Open-Ended Investment Companies (OEICs). We also recognise offshore funds, which can then be marketed to the general public in the UK. In 2006/07 we approved 1,428 changes to schemes, around 40% more than last year. This increase in volume was predominately due to authorised schemes converting to the new CIS sourcebook (COLL).
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Financ ial Ser v ices Author it y A
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Chairman’s statement FSA Annual R
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FSA Annual Report 2006/07 - Better Regulation Ltd

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