Context
The FCA has confirmed to the Association of Professional Compliance Consultants that it is likely to reach the six-digit limit (999999) for FRNs and Product Reference Numbers (PRNs) some time this month (July 2023), given the volume of applications and notifications it is receiving. As previously announced, the FCA is planning a move to seven-digit FRNs and PRNs for all newly registered firms and funds.
Key points to note
- The FCA currently uses six-digit Firm reference Numbers (FRNs) to uniquely identify firms, and six-digit Product Reference Numbers (PRNs) to uniquely identify funds.
- Firms that already have a six-digit FRN or PRN will keep that number. They will not change.
- Seven-digit numbers will start to be allocated for new applications and notifications once the six-digit range is exhausted. The FCA will not be skipping any numbers.
- As the FCA uses the same number sequence for firms and funds, 999999 could be allocated to either a firm or a fund. It is possible that the number will be allocated to a non-public record and will not be published.
- If you have any questions on these changes, please contact FRNPRNchanges@fca.org.uk.
Next actions
None – for information and awareness.