The Financial Conduct Authority (FCA) pointed to breaches earlier in the year as a reason it expects not to meet the service levels for certain areas of authorisations in 2022, according to its latest update.
The regulator's latest authorisation data points to lagging service levels for some areas of authorisation including Part 4A Permissions, proposed change of control, registration under the PSRs 2017 and cancellation of a Part 4A Permissions. Commenting on the lagging service levels, it said: "We plan to be meeting the service levels at the end of 2022/23 but due to breaches earlier in the year we expect not to meet the service level when reported over the full year." The data pointed to 5,347 breaches for approved persons (statutory and voluntary combined), 1,577 for appointed represe...
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