FCA publishes quarterly consultation

FCA’s latest quarterly consultation proposes changes to:

  • TC to update the list of appropriate qualifications;
  • SUP to clarify how the requirement to have a client assets report applies to loan-based crowdfunding platforms – primarily to clarify FCA’s expectation that these firms appoint an auditor to prepare and submit a client assets report; and
  • also to SUP, to regulatory reporting requirements, including to improve the guidance on the RMAR form, remove obsolete references and correct errors, including to the Financial Crime Report (which had originally, wrongly, stated that firms should complete a nil return if another firm has reported on their behalf).

FCA asks for comments on the first two sets of proposals by 12 July and the third by 12 August.