Collective investment undertakings - look-through approach: a check on its values (IR.06.03, Bank of England rule IR_bv0749_01)

The rule in plain words

The headline gives only the template and the kind of check, because the rule is too long to say in a headline. The plain words above say all of it.

This is a warning. It does not stop the return on its own, but your supervisor may ask you to explain it. It runs only when your filing indicators mark IR.06.03 as reported.

The cells it reads

Which returns it applies to

Line4 Check runs it on quarterly solo (QRS), quarterly group (QRG), annual solo (ARS) and annual group (ARG) returns on Bank of England taxonomy 2.2.0. The Bank of England applies it to quarterly group (QRG), annual group (ARG), quarterly solo (QRS) and annual solo (ARS) returns, as a warning.

The Bank’s own words and formula

In the Bank of England’s list of validations, word for word:

The item "Country of issue" in IR.06.03.01.01 - Collective investment undertakings - look-through approach should be reported for assets different from "Underlying asset category" 7, 8 and 9.

Other rules on Collective investment undertakings - look-through approach (IR.06.03)

Every Solvency UK rule on IR.06.03

Checks like this one, run at the point of submission, are the first step to real-time supervision. Line4 builds SupTech software for financial regulators that runs checks like these as each return arrives.