Firms that held the permission for the regulated activity of ‘advising on investments’ automatically had their permissions varied to add the new regulated activity of ‘advising on peer to peer (P2P) agreements’ from 6 April 2016. This regulated activity can be seen on the Financial Services Register.
If your firm does not require this permission, you have until 31st December 2016 to remove it via the short form to remove the permission. Any applications to remove this permission after 31st December must be submitted using the Variation of Permission application form in the Connect system.
FCA provide guidance on SMF16/17 appointments
Richard Foster Compliance FCA, ML, PI, training
Firms should have heads of compliance and money laundering reporting officers (MLROs) who are suitably competent and capable of effectively performing the roles. It is appropriate to carefully consider how individuals can demonstrate this ahead of seeking regulatory approval. The FCA have recently issued guidance which should help firms decide if an individual candidate is […]