The FCA has advised as follows:
“We currently use six-digit Firm reference Numbers (FRNs) to uniquely identify firms, and six-digit Product Reference Numbers (PRNs) to uniquely identify funds. We’re likely to reach the six-digit limit (999999) during 2023, given the volume of applications and notifications we receive.
We’re planning a move to seven-digit FRNs and PRNs for all newly registered firms and funds. Firms that have previously been allocated a six-digit FRN or PRN will keep that number. They won’t change. Seven-digit numbers will start to be allocated for new applications and notifications once our six-digit range is exhausted.
We haven’t fixed a date for when this will happen but we’re on track to make the necessary changes to our internal systems in good time.”
Tax Year End Update
Doug McFarlane Suitability 2024, Pension, transfer, Update
Our report writing software has been fully updated on 6th April 2024 to accommodate changes to allowances, rates and reliefs for the 2024/25 tax year. Full details can be found below: Pensions Existing ‘Lifetime Allowance’ wording removed and replaced with new ‘Lump Sum Allowance (LSA)’ and ‘Lump Sum and Death Benefit Allowance (LSDBA)’ wording. In […]