Consultation response

Licensing, Compliance and Enforcement Policy: Consultation Response

This response sets out our position in relation to the consultation around proposed changes to our Licensing, Compliance and Enforcement Policy.

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Published
23 June 2022

Last updated
18 September 2024 - Changes

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Contents

• Licensing, Compliance and Enforcement Policy: Consultation Response

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• Executive summary
• Introduction
• Summary of responses - Licensing changes
• • Proposal 1: Policy position in relation to dual regulation products
  • Proposal 2: Changes to complete applications
  • Proposal 3: Clarification of relevant persons
  • Proposal 4: Timescale for using licence
  • Proposal 5: Clarification of suitability criteria
  • Proposal 6: Clarification of financing arrangements
  • Proposal 7: Addition of new examples to update the Commission about
  • Proposal 8: Minor updates to reflect minor changes to processes in the policy
• Summary of responses - Compliance changes
• • Proposal 9: Remote assessments
  • Proposal 10: Assessment framework
  • Proposal 11: Special Measures
• Summary of responses - Enforcement changes
• • Proposal 12: Commencing a review of an individual licence
  • Proposal 13: Financial penalties
  • Proposal 14: Suspension
  • Proposal 15: Regulatory settlements

Amounts falling due after more than one year

	2020 £'000s	2019 £'000s
Deferred income	794	827
	794	827

In accordance with IFRS 15 principles, the Commission's deferred income due after more than one year relates to Personal Licence fees paid that are due to be released to income in years 2021/22 onwards.

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Last updated: 18 September 2024

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