PIMFA’s response to FCA Consultation CP 21/28: New cancellation and variation power; Changes to the Handbook and Enforcement Guide
PIMFA’s response to FCA’s Consultation CP 21/28: New cancellation and variation power; Changes to the handbook and Enforcement Guide. Overall, we welcome the FCA’s new power, conferred by the Financial Services Act 2021, to cancel or vary permissions where firms are no longer carrying on any regulated activities. We also understand the value
of having an accurate Financial Services Register and the benefit of the FCA being able to act quickly to reduce the risks of consumer harm. However, a concern is whether the new FCA power may mean that they are at risk of losing some permissions which they hold, which had been applied for as a precautionary measure (for example advising on a regulated mortgage or credit agreement) and which they may only be using occasionally
You may also be interested in
Future of Advice
Evolving financial advice models, ensuring accessibility, affordability, and consumer protection in changing markets.
Hear from leading industry experts on the key issues facing compliance professionals in the investment management and financial advice world. Bringing together a high-level audience who can engage with the…
£275.00 – £590.00
Date & Time: 24th Sep 2026 (8:00) - 24th Sep 2026 (17:00)
CPD: TBC
Location: Herbert Smith Freehills Kramer
The Advice Group is a consultative group. Its role is to consider issues from an adviser and financial planning perspective...