FCA Consults on Extending the Deadlines for the Certification Regime and Conduct Rules

  • Ian Manson is a managing director at Duff & Phelps.
    Ian Manson IanManson
  • Jane Stoakes is a managing director at Duff & Phelps.
    Jane Stoakes JaneStoakes
  • Peter Ray is a managing director at Duff & Phelps.
    Peter Ray PeterRay
  • Warren Radloff is a director in the London office at Duff & Phelp
    Warren Radloff WarrenRadloff
  • Kroll
    Alex Lander AlexLander
  • Andrew Lowin is a director at Duff & Phelps.
    Andrew Lowin AndrewLowin
  • Darragh Finn is a director at Duff & Phelps.
    Darragh Finn DarraghFinn
  • Matteo Basso Matteo Basso
  • Tom Bevan Tom Bevan
  • Tom De Ville Tom De Ville
  • Laura Febbrari Laura Febbrari
  • Mark Ford Mark Ford
  • Lauren Foulstone Lauren Foulstone
  • Nadia Ghodrati Nadia Ghodrati
  • Giles McClellend Giles McClellend
  • Sam Smith Sam Smith
  • Amelie Snape Amelie Snape

Deadlines for the Certification Regime and Conduct Rules

On June 30, 2020, the FCA announced that the Treasury had agreed an extension of the deadline for solo-regulated firms to have undertaken the first assessment of the fitness and propriety of their Certified Persons. 

The extension is to allow firms who have been significantly impacted by COVID-19 additional time to make the changes they need.

Following the extension being agreed, the FCA opened a consultation which closed 14 August 14, 2020. The Consultation covered extending the deadline from December 9, 2020 to March 31, 2021 for the following requirements:

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

In its announcement of the consultation, the FCA said that firms should still submit information about Directory Persons to the FS Register earlier than March 2021, if they are able to certify staff before then. It intends to publish details of certified staff of solo firms from December 9, 2020 on its FS Register.

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