Following the recent FCA changes to combined AR applications with the Approved Persons applications on 16th September, some firms who submitted prior to 16th are seeing a warning message advising them that the application cannot proceed until the Approved Person form is added.
The FCA has clarified that firms should ignore this warning message for any submissions prior to 16th September, and wait for the AR application to be processed before then adding the follow up Approved Persons information.



Ukraine – 10% drop reporting
Alistair MacDougall Compliance 2020, 2022, COVID-19, FCA, Update
The current hostilities in Ukraine have caused significant market drops and may continue to do so. Accordingly, a reminder about the 10% drop reporting requirements is timely. Readers will recall the early days of the Covid pandemic in 2020 caused a period of market volatility that necessitated issue of 10% drop notifications to clients. […]