The following Financial Services practice note Produced in partnership with Orrick, Herrington & Sutcliffe (Europe) LLP provides comprehensive and up to date legal information covering:
Connect is the web-based system for notifications and applications. The Prudential Regulation Authority (PRA) and the Financial Conduct Authority (FCA) have been using Connect since 1 October 2014, when it replaced the previous Online Notification and Application System (ONA) .
Although the FCA oversees the Connect system, it is used by both the FCA and PRA. Submissions route to the relevant regulator and, in the case of dual-regulated firms, the PRA takes the lead on handling submissions.
Firms can make applications and notifications via Connect for the following:
cancellations of Part 4A permissions
claims management temporary permission
consumer buy-to-let registration
authorisation, registration or cancellation of electronic money
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