In an update on October 11, the FCA said firms will be required to prove that the remote working does not or is unlikely to cause detriment to consumers, damage the integrity of the market, increase the risk of financial crime and reduce competition.
In a statement, the FCA made it clear that "It's important any form of remote or hybrid working adopted should not risk or compromise the firm's ability to follow all rules, regulatory standards and obligations, or lead to a failure to meet them." The regulator also said, under Principle 11 of the FCA’s Principles for Businesses, any material changes to how a firm intends to operate may require the company to notify it first.
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