FCA disclosure change: Time is nearly out
It is now almost one year since the Financial Conduct Authority (FCA) and Prudential Regulation Authority (PRA) officially came into being and took over from the Financial Services Authority (FSA).
The transitional period granted to firms to amend their stationery with the updated regulatory status disclosure was 12 months. As such, from 1 April 2014, firms should no longer be making reference to the FSA on their website or business stationery.
The relevant disclosures should be either:
- “Authorised and regulated by the Financial Conduct Authority”, or
- “Authorised by the Prudential Regulation Authority and regulated by the Financial Conduct Authority and the Prudential Regulation Authority” for PRA authorised persons.