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FCA six-digit reference numbers to change

The FCA has recently announced that the unique six-digit Firm Reference Numbers (FRNs) to identify firms and Product Reference Numbers (PRNs) to identity funds will soon be changing to seven digits for all newly registered firms and funds.

This is due to the number of applications that the regulator currently receives, as it anticpates running out of the six-digit limit (999999) sometime in 2023.

Firms and funds that have already been allocated an FRN or PRN will keep the same number and will not change.

The regulator is currently making the necessary internal system changes required to bring in the new numbers in plenty of time before they are required.

Read the FCA Reference Number news article here

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