Home FCA Handbook SSR SSR 5 SSR 5.7 Requirement to notify a change in circumstances and update contact details
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SSR 5.7 Requirement to notify a change in circumstances and update contact details

13/07/2026R
  1. (1) A person to whom the market maker exemption applies must notify the FCA as soon as practicable if:
    1. (a) they no longer need the market maker exemption; or
    2. (b) they have concluded that they no longer meet the conditions for the market maker exemption; or
    3. (c) they become aware of changes in their circumstances which may affect their eligibility to meet the conditions for the market maker exemption.
  2. (2) When notifying the FCA further to (1)(a), (b) or (c), a person must contact the FCA via means specified on the short selling section of the FCA website.
13/07/2026R

If a notice under SSR 5.7.1R(1)(a) or (b) is submitted, the market maker exemption will cease to apply to the notifying person upon receipt of the notification by the FCA.

13/07/2026G

The FCA will issue a confirmation of receipt of a notification received under SSR 5.7.1R(1)(a) or (b).

13/07/2026R

With respect to a notification under SSR 5.7.1R(1)(c), the FCA will consider whether the person still qualifies for the market maker exemption and will either:

  1. (1) confirm that, in the FCA’s opinion, the person concerned still qualifies for the exemption; or
  2. (2) confirm that, in the FCA’s opinion, the person concerned does not qualify for the exemption, and issue a notification proposing to prohibit under SSR 5.8.1R.
13/07/2026G

The FCA aims to respond to a notification under SSR 5.7.1R(1)(c) within 15 calendar days of receipt of the notification.

13/07/2026G

If a person notifying the FCA under SSR 5.7.1R(1)(c) subsequently considers that they do not qualify for the market maker exemption – for instance, on receipt of a notification proposing to prohibit – that person should submit a notification under SSR 5.7.1R(1)(a) or (b) to terminate the application of the market maker exemption.

Updating contact details

13/07/2026R

A person to whom the market maker exemption applies must notify the FCA, via means specified on the short selling section of the FCA website, as soon as practicable when the contact details previously provided by the person in SSR 5 Annex 1R change.