global insurance management

Connect to the FCA

Sep 09 2014

Connect to the FCA

Relevance:                   All FCA-regulated firms.

Action required:           Register for the FCA’s replacement notification system (or send the activation email to us so we can register for you).

You will be receiving an activation email from the FCA informing you that, from 01 October 2014, they are changing the system for notifying them of certain events, and also submitting various applications.

Currently, firms are using ONA (the On-line Notification and Application system).

The replacement system is called Connect.

The FCA has indicated that it will transfer all items on a firm’s ONA account across to the new Connect account.  They will then send each firm an email with instructions on how to register for Connect.

It is important for firms to make sure they access Connect and then advise us of their new access details.  This is so that we can update our records but also continue to process any relevant changes or notifications accordingly.

This is an important development in the way firms interact with the FCA and the revised system is supposed to give better access to information, be more stable with longer availability times (24 hours a day; 7 days a week for the insomniacs) as well as some new features that allow searching, printing and administration options.

Despite the improvements, there are still some areas that will sit outside the Connect system, such as passporting, Change of Control and waivers.  Perhaps these will be included in future expansion of the system.

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