Context
The FCA has published a new web page setting out when and how firms can, should or must notify the FCA and / or the PRA about certain events. The notification rules in the FCA Handbook may state a specific form firms need to submit; otherwise, firms should follow the guidelines set out in the web page.
Key points to note and next actions
General notifications – a reminder:
- Matters with a serious regulatory impact.
- Anything about the firm of we would reasonably expect notice (under Principle 11, firms must deal with regulators in an open and cooperative way).
- Breaches of rules and other requirements in or under the Act or the Consumer Credit Act 1974.
- Civil, criminal or disciplinary proceedings against a firm.
- Fraud, errors and other irregularities.
- Insolvency, bankruptcy and winding up.
- Competition law infringements.
Core information (change in address, name, telephone number)
- Firms must tell the FCA before changing address, name or telephone number (and you also need to confirm these details in your annual attestation.) Before you change your core information, submit the FCA’s firm details form via Connect.
Other events:
The web page explains that firms should submit the FCA’s firm notification form (SUP15) to notify it of an event that has occurred or will occur in the foreseeable future. The examples include insurer’s commission clawback and suspicious transactions reporting.