Context
The FCA has published an ‘Application for Authorisation Financial Promotions Annex’. Although aimed at dual-regulated firms (so authorised / regulated by the PRA and the FCA) this may provide useful background information for firms wishing to apply for the new ‘Approver Permission’.
Key points to note and next actions
From 7 February 2024 all authorised persons will require specific FCA permission to approve financial promotions for unauthorised persons. Authorised persons do not need to seek FCA permission to approve:
- their own financial promotions; or
- the financial promotions of their group entities or Appointed Representatives (in relation to regulated activities for which the firm has accepted responsibility).