As part of its “Innovate” project, the FCA are calling for input from firms in order to help clarify regulatory uncertainty in the financial services sector. In a recent statement the regulator asks firms to submit examples of situations where they believe they have been subject to retrospective application of regulatory rules. The call for examples is part of the FCA’s initiative to achieve better communication within the industry.
The deadline for submitting examples of situations where you believe regulatory rules have been applied retrospectively is the 14th of October 2014. Please follow the link here if you wish to do so.
To find out more about Project Innovate please follow this link or contact your external in-house counsel, Cleveland & Co, we are here to help.