FCA Plans Speedier Removal Of Unused Permissions

By Irene Madongo (September 9, 2021, 2:26 PM BST) -- The Financial Conduct Authority said on Thursday that it wants to speed up the removal of unutilized regulatory permissions it has issued for companies, saying the move could offer better protection for consumers and help to prevent financial crime.

It could give credibility to a company's unregulated business if it was allowed to continue operating with incorrect or outdated permissions on the FCA's financial services register, the City watchdog warned. Consumers could also be misled about how much protection they are offered, the regulator added.

The FCA also believes that the changes will help to stop fraud and make the register...

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