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.
ATEB Compliance offers compliance and regulatory advice.
ATEB Suitability provides report writing software for the financial services market.
The FCA has been writing to some firms recently with an ‘ACT NOW’ message, stating: “We are writing to you today because our analysis shows you have individuals within your firm who would fit the definition of a Directory Person, but you have not yet submitted any Directory Persons data for your firm. Solo-regulated firms must […]
In December 2020, we reminded readers about the expected changes to FSCS protection after the EU withdrawal period ended on 31 December. You can read that article here. The transition did end when expected and with last minute agreement on a trade deal, which was not so certain. However, the agreement did not cover financial […]
You may well have seen reports that the FCA recently published its Defined Benefit Advice Assessment Tool (DBAAT). This is the tool that the FCA has been using as part of the ongoing review of firms providing transfer advice. At launch, the FCA stated: “We published the DBAAT to help firms and pension transfer specialists […]
Following the release of a consultation paper on 10th February 2021 by HM Treasury, we have now added a ‘Proposed changes to Normal Minimum Pension Age (NMPA)’ section within the ‘Retirement Advice’ page of the main Suitability Report template. This includes a standard text option, pre-ticked for inclusion in all retirement advice reports, informing clients […]
New online fees portal
Lisa Cross Compliance 2021, FCA, Register
The FCA is launching a new online invoicing portal on 12 April 2021 for users to access their invoices and arrange payment of their fees. Firms should continue using the existing invoicing online portal for now but this will no longer be available after 31 March 2021. There will be no portal available until the […]