Delay to F&P Deadline for FCA Solo Regulated Firms

The deadline for solo-regulated firms to have undertaken the first assessment of the fitness and propriety of their Certified Persons has been delayed from 9 December 2020 until 31 March 2021.

The Treasury has agreed to delay, from 9 December 2020 until 31 March 2021, the deadline for solo-regulated firms to have undertaken the first assessment of the fitness and propriety of their Certified Persons. This will give firms significantly affected by the coronavirus pandemic time to make the changes they need.

To ensure SM&CR deadlines remain consistent, and to provide extra time for firms that need it, we intend to consult on extending the deadline for the following requirements from 9 December 2020 to 31 March 2021:

• the date the Conduct Rules come into force
• the deadline for submission of information about Directory Persons to the Register
• references in our rules to the deadline for assessing Certified Persons as fit and proper (which has been agreed by the Treasury)

In order to give regulated firms certainty, we intend to consult alongside parliamentary process, to allow us to finalise our policy as soon as possible.

Find out more here.