FCA publishes Handbook Notice No. 68

Regulatory Updates | 25/07/19

The FCA has published its Handbook Notice No 68 describing a number of changes to the Handbook. This includes Individual Accountability (FCA-Authorised Firms) Instrument 2019 which is relevant to the FCA’s Senior Managers and Certification Regime. In summary, this instrument makes changes to the Handbook to enhance and embed a culture of individual accountability and personal responsibility within firms, and raise standards of conducts at all levels. It should reinforce governance requirements and encourage clear articulation of allocation of responsibilities, and fitness and proprietary as a responsibility of the firm. This instrument comes into force on 9 December 2019, except for Part 1 of Annex B, C, D, J and Q which all came in to force on the 26 July 2019. And Part 3 of Annexes B and D comes into force on the 9 December 2020.