Firms now need to update or confirm their Firm Details annually

From 31 January 2020, firms that come under Sup 16.10 reporting requirements have to check, amend or confirm the accuracy of their Firm Details annually, using the FCA’s Connect portal. They will need to do this within 60 business days of their Accounting Reference Date (ARD).

Even if your Firm Details have not changed from the previous year, you will still need to log on to Connect and confirm that the details are accurate and up to date.

If your firm has not registered on Connect then we encourage you to do so as soon as possible to be able to comply with this reporting requirement. If you need help to register or update your Firm Details, watch our video guide, or call us on 0300 500 0597 during business hours.

Firms are required to comply with these rules. If they don’t, we will consider using our full regulatory tools, including enforcement. All firms must also meet the principles for businesses. This includes principle 11, which states a firm must deal with its regulators in an open and cooperative way, and provide them with relevant information.