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.
Financial Resilience Survey – General Insurance
Michael Senior Compliance FCA
The FCA Financial Resilience team has clarified the intention behind the data requested in their survey in relation to Question 2b. Question 2b, Please provide how much of your cash inflows advised in 2, is ‘contractually committed’. The online FAQ, gives the guidance … “We want to identify how much of your estimated cash inflow […]