Events listed in FCA Handbook
DP23/3: Review of the Senior Managers and Certification Regime (SM&CR)
ID 22577
Concurrently with the HM Treasury’s launch of a call for evidence on the current functioning of the Senior Managers & Certification Regime (SM&CR), the Financial Conduct Authority (FCA) and the Prudential Regulation Authority (PRA) have jointly published a Discussion Paper (DP1/23 (PRA) & DP23/3 (FCA)) on same issue. As already noted in the call for evidence (please see EventID 20434 in this context), the ...
Senior Managers & Certification Regime: a Call for Evidence
ID 22573
The HM Treasury has launched a call for evidence on the current functioning of the Senior Managers & Certification Regime (SM&CR). To recall, the regime was launched in 2016 with the aim to improve accountability among senior staff members and among employees that are not senior managers, but may have a significant impact upon a firm’s operation or its customers and to improve the ...
FCA updates on its Sustainability Disclosure Requirements (SDR) and investment ...
ID 22529
The Financial Conduct Authority, FCA, has published a press statement relating to its now closed consultation on the introduction of sustainability fund investment labels and enhanced disclosure requirements in prospectuses (please see EventID 17994 for a detailed description of the consultation). In this statement, the FCA provides an update on the status of the consultation which closed on January 25, 2023: Due to the ...
Inside FCA Podcast: Interview with Ed Smith on the Consumer Duty April milestone ...
ID 22490
The Financial Conduct Authority (FCA) has published the transcript of another podcast relating to the new consumer duty. Specifically, this time the transcript includes an interview with the FCA’s Head of Competition Policy, Mr. Ed Smith, **discussing the key milestones of the consumer duty from a firm’s point of view and the expectations of the FCA as regards the activities firms shall take or ...
Update on FCA Authorisations operating service metrics
ID 22391
In an effort to enhance transparency over its supervisory activities, the Financial Conduct Authority (FCA) has published a press statement to inform of the availability of an updated Authorisations Operating Service Metrics. The matrix sets out the intended and actual processing times for notification and applications of firms during 2021 and 2022 and the processing times in January and February 2023. Off-target as regards ...
Primary Market Bulletin 44
ID 22368
The Financial Conduct Authority, FCA, has published the 44th version of its Primary Market Bulletin. This latest bulletin deals with the FCA’s new disclosure and reporting requirements of listed companies as regards diversity and inclusion, the status of the FCA’s consulted Technical Note (TN 606.1) as regards the need to publish a prospectus for security issues which are issued as part of a scheme ...
Prohibiting the sale to retail clients of investment products that reference ...
ID 22367
The Financial Conduct Authority, FCA, has published the opinion of the Regulatory Policy Committee (RPC) as regards the FCA’s Policy (PS20/10) to ban the sale, marketing, and distribution of crypto-assets to retail clients which was implemented and came into force on January 6, 2021. In its opinion, the Committee states that it does NOT find the policy statement fit for purpose based on the ...
Portfolio Letter: FCA priorities for payments firms [pdf]
ID 22310
The Financial Conduct Authority, FCA, has published a new Portfolio Letter addressed at payment service providers in which the Authority outlines some major concerns about and deficiencies in current practices of payment firms in the below noted areas and sets out its expectations in this context. The key concerns / deficiencies and expectations are briefly summarized below. It shall be noted in this context, ...
Fast-growing firms (FGFs) multi-firm review
ID 22230
The Financial Conduct Authority, FCA, has published a press statement to inform of the findings from a recent review of so-called Fast-growing firms (FGFs) which includes contract for differences (CFD) providers, wealth managers, and payment services firms. The review was conducted among 25 firms in 2021 and 2022 and focused on the assessment of „financial and non-financial resources“ in view of the enormous growth ...
FG23/2: Guidance for firms supporting existing mortgage borrowers impacted by ...
ID 22215
On March 10, 2023, the Financial Conduct Authority (FCA) published a new guidance addressed at mortgage lenders to support them in their dealing with mortgage borrowers that are affected by the rising cost of living as a consequence of high inflation and likely to be affected by rising interest rates on their mortgages – especially those that are currently rolling over their loans or ...