FCA reminds firms to review regulatory permissions regularly

Regulatory Updates | 18/01/21

The Financial Conduct Authority (FCA) has published a statement reminding firms of their obligation to regularly review their regulatory permissions, to ensure they are up-to-date, and remove them where they are not needed. The FCA expects firms to notify it of material changes, and apply to make necessary changes in a timely way. The FCA reminds firms that, under new powers in the Financial Services Bill, it will be able to act more quickly in the future where it considers that firms are no longer carrying out regulated activities.