Context
The FCA will be contacting firms to ask them to check and update the information it holds about them, and importantly to confirm (by way of the required annual Attestation) that the information is correct and up to date. This includes what is published on the Financial Services Register and the FCA’s new FCA Firm Checker.
Key points to note and next actions
It is a regulatory requirement for firms to check, update and confirm their data under SUP 16.10 and Principle 11 in the FCA’s Handbook. Failure to do so will result in a £250 administrative fee and potential enforcement action. Also, a ‘non-compliant’ banner will also be displayed alongside the firm’s contact details on the Financial Services Register and FCA Firm Checker. Find out more about updating firm’s details.