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.”
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And trending previously too! During the past year or so, and in tandem with ATEB becoming part of Thistle Initiatives, we’ve become increasingly involved in due diligence work, mainly working on behalf of firms planning to acquire others and getting under the bonnet of the firms they propose to buy. M&A activity seems […]