The FCA has recently issued a reminder to firms about forthcoming changes to the UK telephone system.
The current analogue phone network (known as the Public Switched Telephone Network or PSTN) is starting to be switched off across the UK. It will be completely decommissioned by the end of 2025, migrating to a digital phone network, delivered through Voice over IP (VoIP).
This is a major change to the UK’s telecoms networks and will affect anything that currently plugs into existing analogue telephone wall sockets. Firms should be making plans to ensure there is no disruption to the services they provide.
Further information can be found here.
Ukraine – 10% drop reporting
Alistair MacDougall Compliance 2020, 2022, COVID-19, FCA, Update
The current hostilities in Ukraine have caused significant market drops and may continue to do so. Accordingly, a reminder about the 10% drop reporting requirements is timely. Readers will recall the early days of the Covid pandemic in 2020 caused a period of market volatility that necessitated issue of 10% drop notifications to clients. […]