Investment firm licensees are required to submit a Quarterly Prudential Return (QPR). Investment firm licensees may apply in writing to BMA for an exemption from the requirement that the QPR be reviewed by the licensee's external auditors: this exemption would normally only be given where the licensee had established a track record of accurate and timely reporting, and there were no other supervisory issues of concern. Further details on the BMA's reporting and related requirements, including the precise scope of the auditor's review and attestation, will be contained in Module BR (BMA Reporting), to be issued later in 2006.