The deadline for solo-regulated firms to have undertaken the first assessment of the fitness and propriety of their Certified Persons has been delayed from 9 December 2020 until 31 March 2021.
On the 9th February, the FCA issued a new multiple amendment template for the FCA Directory. This builds on the multiple add template published last year.
As the extension of SM&CR consultation paper is released (FCA Proposed extension to SM&CR) all FCA regulated firms need to sit up and take notice as does the Insurer and Reinsurer market. As has been hinted “proportionality” rings true and is broken down by firms whose regime will be either in: Limited Scope Core Enhanced… Read more »
Of particular relevance is section 14 – Knowledge and Competence requirements – which examines the impact these will have on competence management and T&C
Valuable lessons and pointers for Accountability 1 and Accountability 2 (2018 extension) firms.
This is an important development, as part of the new account regimes, which will present additional challenges for firms.
Key guidance on what the regulator will expect Senior Manager Functions (SMFs) to evidence to demonstrate they have taken “reasonable steps”.