Incorrect or outdated permissions on the Financial Services (FS) Register can mislead consumers about the level of protection offered by a firm or give credibility to a firm’s unregulated activities. The changes will help to prevent scams and to ensure the FS Register presents a clearer picture of the permissions firms hold. Firms are required to confirm that the information on the FS Register is accurate on an annual basis. The new power, granted to the FCA via the Financial Services Act 2021, will streamline and shorten the process of removing firm permissions. The FCA will be able to start the cancellation process as soon as it considers permissions are not being used, by serving 14 days’ notice on a firm. The FCA will then be able to vary or cancel permissions after 1 month. Continue reading…
Gone are the days when organisations could simply promise a speak up culture. Today, fostering a culture of trust, integrity, and a positive work environment…
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