The FCA has issued a new reminder for firms to register for its online Connect platform ahead of the January 2020 deadline.
All authorised firms will need to use Connect to review and confirm the accuracy of their details annually, in line with their Accounting Reference Date (ARD), known as a mandatory annual update.
Even if details have not changed from the previous year, firms will still need to log on to Connect and confirm that they are up to date.
Firms can also use Connect to make applications and notifications to the regulator, and the platform has replaced the ONA system for most of these processes.
Firms can submit applications such approved persons, appointed representatives, claims management temporary permission, consumer buy-to-let registration, MiFID II notifications, part 4A permission (dual regulated firms still have to use the paper forms), and passporting.
The FCA is emailing, calling and writing to firms that aren’t currently Connect users to encourage them to sign up before the requirement comes into force from January 2020.