At the FCA's request, HM Treasury has published a statutory instrument delaying the deadline, to 31 March 2021, for FCA solo-regulated firms to have carried out their first fitness and propriety assessments of their Certified Staff.

2 September 2020 update

Today, following a request from the FCA, the Treasury has made a statutory instrument to delay, from 9 December 2020 until 31 March 2021, the deadline for solo-regulated firms to have undertaken the first assessment of the fitness and propriety of their Certified Persons. 

We welcome the publication of the statutory instrument. Aligned with this, we have consulted to change the same date in the FCA Handbook, the deadline for when firms need to have certified their staff.

We received predominantly positive feedback to the corresponding changes we recommended in our consultation. This includes extending to the same deadline the following requirements:

•   the date the Conduct Rules come into force, for staff who are not Senior Managers or Certification Staff

•   the deadline for submission of information about Directory Persons to the Register