We wrote a few weeks ago about incoming changes to how firms access their FCA systems to upgrade data protection. You can read that article here.
The new system will replace the current 6-digit passcode with the user needing to log in using a One Time Passcode (OTP).
The implementation date of 20th January has now been delayed until Thursday 2nd February.
We will provide further updates as and when these are available.
Important Note: ATEB news is intended to provide general information ONLY. The content, including any views expressed or guidance provided, does not replace the need to comply fully with FCA Rules and Guidance. Unless you have discussed news article content with ATEB, and specifically how it relates to your circumstances, then ATEB disclaims all liability and responsibility and actions arising from any reliance placed upon it. For the avoidance of doubt therefore, any reliance you place on such information without our consultation is at your own risk.
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If you are involved in advising on DB transfers, this will be of interest.
The FCA has issued updated guidance for firms in relation to the use of outsourced IT services.
Firms are reminded that they must not use the FCA logo or authorisation in a promotional way.
The Insurance Distribution Directive (IDD) will impact all IFA and Insurance Intermediaries.
New transfer advice rules – 1 October 2018
Alistair MacDougall Compliance 2018, 2019, FCA, Pension, Pension Transfer, Update
New rules around transfer advice apply from 1 October 2018. Make sure you are aware and ready for them.