The Complaints Commissioner has ruled in favour of the FCA over a complaint by a financial adviser unhappy about delays to their Approved Persons application.

The FCA is to end the Covid-19 flexibility it has allowed this year on implementing the new Senior Managers and Certification Regime (SMCR).

The FCA has extended the deadline for firms to complete the first assessment of the “fitness and propriety” of their Certified Persons under the new Senior Managers and Certification Regime (SMCR) from 9 December until 31 March.

The failure to include appointed reps in the FCA’s new Senior Managers & Certification Regime, which comes into effect today (9 December) is an “oversight”, according to a regulatory expert.