On 12 September 2023, the Financial Conduct Authority (“FCA”) published a Policy Statement (PS23/13) (the ‘‘Policy Statement’’), outlining its response to the feedback received in the Consultation Paper (CP22/27). The focus is on creating a new set of rules for authorised firms who approve, or intend to approve, financial promotions for unauthorised firms.

Currently, any authorised person can approve financial promotions for unauthorised firms. This has led to a concerning pattern where…

Cleveland & Co can support firms with the implementation of these updates and assist in preparing a thorough application for submission to the FCA, ensuring that it aligns with regulatory standards.

For more information, and any guidance or advice, Cleveland & Co, your External in-house counsel, are here to help.

Please click here to follow us on LinkedIn to receive the latest information on this and other important topics.