Transfer of Registry to the FCA
The Northern Ireland Registry of Credit Unions and Industrial and Provident Societies was transferred from the Department for the Economy (DfE) to the Financial Conduct Authority (FCA) on 6 April 2018.
Background
This transfer was agreed in 2012 for credit unions (2013 for Industrial and Provident Societies) following the transfer of regulatory authority from the Department to the FCA and Prudential Regulation Authority.
The Financial Services Act 2012 (Mutual Societies) Order 2018 effected the transfer of the Northern Ireland Registry of Credit Unions and Industrial and Provident Societies from DfE to the FCA.
What this Change Means
Anything you would have sent to us, as your registering authority, you must then send to the FCA instead. Further details are available on the FCA website:
DfE will still retain oversight for society legislation.
Credit Unions and Co-operative and Community Benefit Societies Act (Northern Ireland) 2016
The remaining provisions of the Credit Unions and Co-operative and Community Benefit Societies Act (Northern Ireland) 2016 came into force on 6 April 2018.
The legislation can be viewed at: