The FCA is urging firms not already registered on Connect to do so. They are emailing, calling and writing to firms that are not currently Connect users to encourage them to sign up before the new requirement comes into force in January 2020.
From January 2020, firms will be required to submit their mandatory annual update via Connect. This will include updating and confirming the accuracy of the firm’s details annually (even if there is no change), in line with the firm’s Accounting Reference Date (ARD).
The mandatory update form is within Applications and is available through a new menu choice, ‘Update or Attest your firm’s details’. The form is in the same format as all other applications in Connect.
Firms that are not already registered will find this link helpful.
More information about this new requirement is available here.
The firm’s ARD will determine when the information is required.
FOS award limit to remain unchanged
Richard Foster Compliance 2019, 2020, 2021, complaints, FCA, FOS, PI
The FCA has made the following announcement about the FOS award limit. “When we increased the Financial Ombudsman Service’s award limit in April 2019 we said that each year, from 1 April 2020, we would adjust the award limits for complaints referred to the service on or after 1 April 2019 to ensure they keep […]