The deadline for FCA solo-regulated firms to have undertaken their first assessment of the fitness & propriety of Certified Persons has been delayed from 9 December 2020 to 31 March 2021. In addition, the FCA is consulting on extending the deadline, also to 31 March 2021, for the date on which Conduct Rules come into force for all staff (except ancillary roles) and the deadline for submissions of information about Directory Persons to the Register.
This is no barrier to continuing work in progress, and firms can certify earlier if they wish, but in most cases we anticipate that this will give some much-needed breathing space. The FCA has also announced that it intends to produce some further communications about their expectations on Conduct Rules training, which we will circulate as soon as it becomes available.
Please see further details in this press release.
If we can support with your implementation of your certification process, please contact James Green or your usual Burges Salmon contact.