FCA to move faster to remove unused firms permisssions

The FCA is consulting on how it will use a new power to help remove permissions more quickly from firms where they are not being used.

The FCA wants to use this power to take quicker action to prevent consumers being misled by outdated permissions on the Financial Services Register, which can provide false assurances about the level of protection offered by a firm or give credibility to unregulated activities.

The consultation ends on 29th October 2021.

Source: FCA