Regulatory Updates

The FCA and PRA are reviewing the effectiveness, scope, and proportionality of the SM&CR, which is the basis for this Discussion Paper. HM Treasury has, in parallel, launched a Call for Evidence to look at the legislative aspects of the regime. The reviews…

This Hot TopICS seeks to provide a high-level reminder of requirements in relation to Close Links notifications and the Change in Control (CiC) process, as these are both areas which prompt regular questions from firms. Unlike changes in control, changes to…

By the end of October 2022, firms should have reviewed, challenged and agreed their plans for implementing the Consumer Duty, ensuring that they were robust and deliverable, and should now be well on the way to putting those plans into practice and embedding…

Following the March 2022 general insurance (GI) pricing senior manager attestations, the FCA carried out follow-up work that involved contacting firms and asking for sight of the evidence and management information (MI) that they had considered to enable them…

From 20th January 2023 the FCA will be introducing multi-factor authentication (MFA) for logging-in to its systems, which will be an additional level of security the regulator considers necessary to protect and control access to FCA and firm data. This Hot…

The Financial Conduct Authority’s new rules to make authorised firms more responsible for their Appointed Representatives (ARs) and Introducer Appointed Representatives (IARs) come into force on 8th December. Our August 2022 Hot TopICS covered the new…