CH232500 - How to do a compliance check: information powers: financial institution notices: issuing notices

FINs should be sent to the appropriate central email or postal address of the Financial Institution concerned, where one has been provided.

You must have some evidence that the person, or a connected entity, is a customer of the Financial Institution. You must not use the notice to find out whether that is the case.  You should provide this evidence as part of your submission to the authorised officer for approval to issue a FIN.

If different brands are in different legal entities, then a separate notice is required for each legal entity. It is helpful to the Financial Institution to identify all accounts that you are requesting information for in the notice. Therefore, if you know the details, you should list the account name, account number and sort code.

Where tribunal approval to not name the taxpayer in the FIN has been granted, and you are aware that the account name is the taxpayer, it is still preferable for you to name this account holder along with the sort code and account number.

However, you do not need to identify every account in the notice if you have evidence that accounts exist but do not know the precise details of the accounts. If you are requesting an account where the account holder is not the taxpayer, you should name the account holder in the request concerning this account.

Seeking Approval

Remember, it is a legal requirement that you must always get approval from an authorised officer before issuing a FIN. A submission must be made to the authorised officer giving the background of the enquiry and the reasons why the information is reasonably required and not onerous for the Financial Institution to provide.

 When you issue a FIN, there are legal requirements you must meet, see CH23140. If you have a good reason for disapplying them, then an authorised officer can agree to apply to the Tribunal for permission, see CH232600 and CH232700.