FCA Directory Deadline – 31 March 2021

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Posted on 23 Mar 2021

FCA Directory Deadline – 31 March 2021

Solo-regulated firms need to complete their certification of their staff in compliance with the SM&CR and submit their Directory Persons data via Connect by 31 March 2021.

Directory Persons include:

  • Directors who are not performing Senior Manager Functions (SMFs) – both executive and non-executive
  • Other individuals who are sole traders or Appointed Representatives (including those within Appointed Representatives) where they are undertaking business with clients and require a qualification to do so
  • All certified staff (those holding a certification function under the Senior Manager & Certification Regime - SM&CR)

If your assessment determines that no individuals in your firm fit the definition of a Directory Person, you will not be required to make a submission to the FCA.

Failing to submit required data in time is a breach of regulatory reporting requirements and could lead to enforcement or supervisory action. A £250 admin fee also applies for late / incorrect submissions.

We are well placed to support our clients in this area. Please contact Charlie Herbert or your usual Doyle Clayton contact to discuss how we can help you. 

The articles published on this website, current at the date of publication, are for reference purposes only. They do not constitute legal advice and should not be relied upon as such. Specific legal advice about your own circumstances should always be sought separately before taking any action.

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