FCA proposes to take firms' unused permissions away more quickly

New powers outlined in Financial Services Act 2021

clock • 2 min read
Permissions that are incorrect or outdated, found on the FS (Financial Services) register, “mislead consumers”, according to the watchdog.
Image:

Permissions that are incorrect or outdated, found on the FS (Financial Services) register, “mislead consumers”, according to the watchdog.

The FCA has published draft guidance setting out new powers that will allow it to remove regulatory permissions more efficiently.

The guidance addresses concerns surrounding permissions no longer used by financial services firms. Permissions that are incorrect or outdated, found on the FS (Financial Services) register, "mi...

To continue reading this article...

Join Professional Adviser

 

  • Unlimited access to real-time news, industry insights and market intelligence.
  • Stay ahead of the curve with spotlights on emerging trends and technologies
  • Receive breaking news stories straight to your inbox in the daily newsletters.
  • Make smart business decisions with the latest developments in regulation, investing retirement and protection.
  • Members-only access to the editor’s weekly Friday commentary
  • 
 Be the first to hear about our events and awards programmes.

Join

 

Already a Professional Adviser member?

Login

More on Regulation

PA360: Advisers must 'start now' on Consumer Duty implementation

PA360 North: Advisers must 'start now' on Consumer Duty implementation

Regulator will not prescribe on Consumer Duty compliance

Jenna Brown
clock 05 October 2022 • 2 min read
Tom McPhail: "That's the headline the advice community has mostly picked up on, but if you step back and look at what else is going on in the regulatory policy environment it suggests that not only is a line in the sand being crossed, the whole beach is being dug up."

All eyes on the boundary between guidance and advice

Could lead to business plan shake-up at regulated firms

Tom McPhail
clock 29 September 2022 • 3 min read
SPP flags range of issues with FCA transfer advice redress consultation

SPP flags range of issues with FCA transfer advice redress consultation

Society highlights series of problems it foresees with regulator’s plans

Jenna Brown
clock 27 September 2022 • 2 min read