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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Here are some key messages from the initial tranche of Consumer Credit applications
Must view FCA Webcast outlines clear requirements
The rules cover fee charging and come into force on 2 January 2015.
The FCA has issued part 3 of its three-cycle RDR Thematic Review
Clarifying Sales Models’ Boundaries
Steve Bailey Compliance FCA
FG15_1 clarifies the different types of sales models, the boundaries between them and the associated regulatory requirements.