Released 09 September 2021
The Financial Conduct Authority (FCA) has published a consultation on changes to its Handbook and Enforcement Guide.
The changes will provide guidance on the FCA’s new power to cancel or vary the statutory permissions of many FCA-authorised firms to carry on FCA-regulated activities.
The new powers allow the FCA to more quickly and efficiently:
•vary or cancel the statutory permissions to conduct FCA-regulated activities of many FCA-authorised firms, where those firms:
–appear to be carrying on no FCA-regulated activities for which they have permission;
–have not responded as we have directed to our notices warning of the risk of such action; and
•reflect such variations and cancellations on the Financial Services Register.
The consultation closes on 29 October 2021.
Further information can be found at https://www.fca.org.uk/publications/consultation-papers/cp21-28-new-cancellation-variation-power-changes-handbook-enforcement-guide.