Modules HC, RM and BR were issued in July 2007. Rule ES-2.4.1 means that existing investment firm licensees have therefore a 6-month implementation grace period. The first quarterly prudential return (Form QPR) that is required to be submitted, is for the quarter-ending 31 December 2007; this return is due on or before 21 January 2008 (i.e. no later than 21 calendar days after the end of the reporting date).