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
17 October 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

5c) Other income

Other income collected during the year relates to desk rental, contributions to costs arising from enforcement action and collection of the Economic Crime Levy (ECL).

Other income collected during the year

Other income collected during the year

Description	2023 to 2024 £ thousands	2022 to 2023 £ thousands
Other income	357	387
Total other income	357	387

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Last updated: 17 October 2024

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