FCA confirms delay to first F&P assessment

FCA has confirmed that solo-regulated firms will now have until 31 March 2021 to complete their first fitness and propriety assessments on Certified Persons.  Treasury has made a statutory instrument to confirm the delay, and FCA is now consulting on making mirroring changes to its Handbook, and also to make that the date the Conduct Rules for non-SMF holders and Certification Staff take effect and the deadline for Directory Persons submissions.

As with previous communications on this subject, FCA says that if firms can comply earlier, they should, and should not wait to remove staff who are not fit and proper from their positions.

Emma Radmore