The FCA has published an alert to all Principals, regardless of sector, who have one or more Appointed Representatives or Introducer Appointed Representatives (‘ARs’). Principals are responsible for the regulated activities of their ARs. The alert sets out the risks that the FCA expects firms to consider and act upon, where relevant.
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This is a follow up to previous alerts about the risks involved in dealing with Introcuders. All Principal and Appointed Representative firms should read it.
For information.
The FCA has advised as follows in relation to Tranche 2 firms (see definition list below). “Many of you will be aware that we issued the first phase of the Covid-19 Impact Survey in June-August 2020, covering around 23,500 firms. Since then, we have repeated this survey five more times. The survey has […]
The FCA has advised the following. “We issued the first phase of the Covid-19 Impact Survey in June-August 2020, covering around 23,500 firms. Since then, we have repeated this survey five more times. The survey has helped us obtain an accurate view of the impact of Covid-19 and supported our work to mitigate […]
We have completed the latest upgrade to ATEB Suitability on 22nd May 2022. This update comes at no additional cost and provides firms with the ability to write suitability reports and letters to Trust/Trustee(s) and Power of Attorney(s) as client. Full details of the enhancements can be found in the tables below, but some of […]
The FCA can now vary or cancel permissions more quickly than previously applied. What is changing The FCA now has an additional power, which enables quicker action to: vary or cancel the statutory permissions to conduct FCA-regulated activities of many FCA-authorised firms, where those firms: appear to be carrying on no FCA-regulated activities for which they have permission, and […]
FCA Survey – problem question
Michael Senior Compliance 2022, FCA
We wrote recently about the latest FCA survey. This is mandatory and some firms have been querying how to answer one of the questions. The question asks – What are your estimated cash needs (fixed costs, known variable costs) and expected cash inflows between 1 March and 31 May 2022? (GBP) Please report the […]