Firms are being asked to register on the Financial Conduct Authority’s Connect platform and send them up-to-date details, also known as a mandatory annual update.
This will be a requirement from January 2020, so they’re suggesting registering now in preparation.
From January 2020, firms will be required to review and confirm the accuracy of their details annually, in line with their Accounting Reference Date (ARD). This will need to be done using Connect. Even if your firm’s details have not changed from the previous year, you will still need to log on to Connect and confirm that they are up to date.
Connect also allows firms to submit applications and notifications and track the progress of those applications.