Following confirmation that it will be sending principal firms that have ARs a s165 information request in December, the FCA has updated its webpage to let firms know that they should expect to receive this via Connect between 8 and 10 December 2022.
The FCA has also explained that the request will include:
- reasons for any appointments
- nature of regulated business
- whether any unregulated business is conducted
- anticipated revenue
- nature of financial arrangements between principal and AR
- complaints information and whether the AR is part of a group.
Firms will have until 28 February 2023 to respond to the s165 request.