FCA registration numbers
The FCA is planning a move to seven-digit FRNs and PRNs for all newly registered firms and funds. Firms that have previously been allocated a six-digit FRN or PRN will keep that number. They won’t change. Seven-digit numbers will start to be allocated for new applications and notifications once our six-digit range is exhausted. They haven’t fixed a date for when this will happen, but state that they are on track to make the necessary changes to internal systems in good time.
We have a few on the circulation going through or about to start the application process.
Link: https://www.fca.org.uk/news/news-stories/changes-fca-firm-reference-numbers-frns-and-product-reference-numbers-prns
Inflation hits 9.1%
ONS has confirmed that UK inflation reached 9.1% in the 12 months to May 2022, from 9% in April. The Bank of England has warned inflation will reach 11% this year.
Link: https://www.ons.gov.uk/economy/inflationandpriceindices
ONS has als...
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