FCA has published further guidance for solo-regulated firms on its expectations in relation to the SMCR and Covid-19. The guidance mirrors the guidance issued by PRA and FCA for dual-regulated firms but additionally states that FCA intends to issue a Modification by Consent to the 12-week rule. Under the modification, firms that need to make temporary arrangements lasting more than 12 weeks can make a notification that will have the effect of meaning they can extend arrangements up to 36 weeks.
[…] updated its expectations on solo-regulated firms in respect of the […]