The FCA has today (5 March 2019) published PS19/5 comprising feedback on all previous consultation papers in relation to the UK leaving the EU.
We will be analysing this in the near future and will write further if appropriate.
Meantime, here is the FCA’s update release from today:
“We have published our Brexit Policy statement, which responds to these consultation papers:
- CP18/28 and CP18/36 on proposed changes to the Handbook and BTS
- CP18/29 on a temporary permissions regime for inbound firms and funds
- CP19/2 on Brexit and contractual continuity
- CP18/34 on regulatory fees and levies (regarding question 10 on firms in the temporary permissions regime contributing to the devolved authorities’ debt advice levy)
We have also set out more detail of how we intend to use the temporary transitional power.”
You can access the policy statement and information on the temporary transitional power on our website: https://www.fca.org.uk/publications/policy-statements/ps19-5-brexit-policy-statement
You may also be interested in reading the press release: https://www.fca.org.uk/news/press-releases/fca-confirms-proposals-event-no-deal-brexit
Financial Scams – Insuring the IFA’s Own Losses and the Client’s Losses
Steve Bailey Compliance PI
More and more stories are coming to light of fraudulent schemes continuing to evolve at an alarming rate (please see recent ATEB news articles). Vigilance across the whole firm is essential.