FCA hastens process to cancel or vary regulated firm's permissions

Strengthening consumer protection

clock • 2 min read
FCA hastens process to cancel or vary regulated firm's permissions
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FCA hastens process to cancel or vary regulated firm's permissions

The Financial Conduct Authority (FCA) has instituted new powers to more swiftly cancel or vary a firm’s unused permissions to carry out FCA-regulated activities in a bid to reduce the risk of harm to consumers.

While the FCA has always been able to cancel or vary a firm's permissions to carry out FCA-regulated activities if it has not used them, it had to wait 12 months to do so in some situations, it sai...

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