FCA: PS26/2: Operational incident and third party reporting

Further to CP24/28, FCA has published feedback and final rules.  FCA notes that the regulators have created a single regime for firms reporting incidents, with a single definition and a single portal for reporting.  All firms will report incidents under this regime through a single portal. This will reduce duplication for dual-regulated firms.  FCA has also subsumed PSPs and registered CRAs into this regime, so these firms have only one regime for reporting serious incidents. There are some rules in the Handbook that only apply to PSPs.  Rules come into force on 18 March 2027.  Firms will have 12 months to prepare for compliance and FCA will engage with firms to support them in adapting to the rules and reporting technologies. Two years after implementation, FCA will review the policies to assess if they meet both regulatory needs and those of firms. Alongside the PS, FCA has published final guidance for both operational incident reporting and material third party reporting – links to the CP and final guidance may be accessed via the first link.