Another March reminder!
Solo-regulated firms must submit their Directory Persons data via Connect by 31 March 2021.
Submissions of 10 persons or more using the multiple upload functionality must be done between 11 January and 18 March to ensure submissions are processed ahead of the deadline.
A failure to submit required data in time would be a breach of regulatory reporting requirements and could lead to enforcement or supervisory action.
There is a £250 admin fee for late or incorrect submissions.
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 […]