The FCA is set to replace the existing Financial Services Register with an enhanced Financial Services Register on 27 July 2020.
As previously announced, the directory of certified and assessed persons will be added to the Register later this year. This will enable consumers and professionals to check details of key individuals working in financial services.
Firms will need to update any links they have to pages on the current Financial Services Register, other than those to the homepage, once the enhanced Register launches. All current links will be redirected to the enhanced Register’s homepage. The existing Financial Services Register will cease to be available from 6pm on Friday 24 July so that work can take place over the weekend to make the enhanced Register ready for the start of business on Monday 27 July.
The FCA recently announced that they are proposing to extend the previous deadline of 9 December 2020 for solo-regulated firms to submit information about Directory Persons to the Register to 31 March 2021. However, where solo-regulated firms are able to provide this information before March 2021, they are encouraged to do so.
The FCA will publish all submitted details of certified employees of solo firms starting from 9 December 2020 on the Financial Services Register.
Conduct Rules Breaches – follow up
Huw Reynolds Compliance Conduct, FCA, Pension, Senior Manager, Update
We wrote recently about the Conduct Rules and, in particular, breaches and notifications . See here. This article is intended to clarify some of the grey around COCON breaches. All of the following is taken from Policy Statement PS 18-14. When is disciplinary action required? When and how a firm decides to undertake disciplinary action […]