‘Track My Connect Application’ is a new initiative from the FCA, which has been introduced to help Connect users track the progress of their FCA application and to alert users to any outstanding requirements or additional information requests.
The initiative is being introduced in three phases, starting with the beta version launched on 10th September 2018, which will include the majority of services offered via Connect. The following two phases are scheduled for launch in November 2018 and January 2019.
In addition to the launch of Track My Connect Application, the FCA has also made a few changes to Connect, revising the colours of the platform and making improvements to the menus and navigation. Firms accessing Connect will now be greeted by a landing page which features content relevant to their firm, along with key information, news and updates.
The platform will now also feature automated alerts, highlighting key issues, dates and progress of applications.
In the August Regulation round-up, the FCA explained the reason for the change, which is to, “ensure that our regulation evolves with financial services and that we continue to develop our systems and processes to meet the requirements of the firms we regulate.”
The FCA went on to explain that the “new functionality in the Connect system… will give greater visibility of your application and allow you to track its progress. When you log in, you’ll be able to see helpful information depending on the type of application you have submitted.”
For further information, please contact your RWA Business Manager, or refer to the Hot Topic section of August’s Regulation round-up.