FCA update on supervisory correspondence

The UK Financial Conduct Authority (FCA) has updated its webpage on supervisory correspondence in light of its recent announcement that it will no longer be issuing portfolio letters (for details, please see our update). The update provides a place holder for market reports that will be published annually and replace portfolio letters in detailing the risks and opportunities the FCA sees. Additionally, it confirms that most supervisory correspondence pre-dating April 2022 has been marked by the FCA as 'historical' and no longer current. The FCA does not expect firms to refer to these historical letters when interpreting the FCA's current supervisory expectations. But the page includes a link to these historical letters for reference.

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