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 upcoming changes to authorisation application fees as follows: “On 24 January we’ll be simplifying our authorisation application fees including Variation of Permission. Today we’ve published Policy Statement 22/1, which follows our consultation in November 2020 and feedback on the responses in April 2021. We’ll be introducing fewer pricing categories. […]
We have received the information below from the FCA. “Many of you will be aware that we issued the first phase of the Covid-19 Impact Survey in June 2020, covering around 13,000 firms across 15 Supervision portfolios (Tranche 1), and then rolled this out to a further 9,500 firms in 21 portfolios (Tranche […]
The new UK Investment Firms Prudential Regime (“IFPR”) came into force on 1 January 2022 and applies to UK investment firms authorised under the Markets in Financial Instruments Directive (“MiFID”) as it is applied in the UK post-Brexit. This includes previous “BIPRU” firms and “Exempt CAD” firms, as well as alternative investment fund managers (“AIFMs”) […]
The Investment Firms Prudential Regime (IFPR) represents a significant upheaval to the rules around prudential requirements for “FCA investment firms”. Broadly speaking, the new rules aim to simplify the current requirements, bringing all MiFID investment firms under a single regulatory regime. Which firms does the IFPR affect? The IFPR will affect a range of FCA […]
General Insurance Pricing Rules – Compliance with ICOBS 6B Attestation
Paul Caine Compliance Conduct, email, FCA, scam, Senior Manager, Update
The FCA is requesting that firms who have general insurance permissions (and premium finance providers), complete an online survey in relation to compliance with ICOBS 6B attestation. The deadline for submission is 31 March 2022, and attestation will need to be made by all firms who operate with the above permissions on a periodic basis. […]