On 30 June 2023, the FCA published Handbook Notice No 110.
The Handbook Notice describes the changes to the FCA Handbook and other material made by the FCA Board under its legislative and other statutory powers.
On 25 May 2023, the Board of the FCA made the relevant changes to the Handbook as set
On 30 June 2023, the FCA published Policy Statement 23/8 ‘Mortgage Charter: enabling provisions’ (PS23/8).
The FCA is amending its Mortgages and Home Finance: Conduct of Business sourcebook (MCOB) to support the implementation of the Government’s Mortgage Charter. The changes enable mortgage lenders to meet their commitments under the Charter, which
On 30 June 2023, HM Treasury published a consultation paper on the reform of the anti-money laundering and counter-terrorism financing (AML/CTF) supervisory regime.
Introduction
In 2018 the Financial Action Task Force (FATF) published a mutual evaluation report on the UK’s AML/CTF regime. The assessment was positive overall regarding the UK’s implementation
On 30 June 2023, the PRA published Consultation Paper 11/23: PRA statement on the review of rules (CP11/23).
Under the Financial Services and Markets Act 2023 (FSM Act), the PRA will take on wider rule-making responsibilities in areas that were previously covered by retained EU law. The PRA will become subject
On 30 June 2023, the European Parliament and the Council issued a press release stating that they had reached provisional agreement on changes to the EU’s trading rules.
The provisional agreement relates to the European Commission’s legislative proposal for a review of the Markets in Financial Instruments Regulation (MiFIR) and Markets in Financial
On 30 June 2023, the Financial Action Task Force (FATF) launched a public consultation on the revision of Recommendation 8 and its interpretive note.
The FATF is considering proposals for draft amendment text to Recommendation 8 of the FATF Standards and its interpretive note (R.8/INR.8), which aims to protect non-profit organisations
On 29 June 2023, HM Treasury announced that the Chancellor has agreed a new action plan with regulators to ensure consumers are being treated fairly and help those struggling to make payments.
The Financial Conduct Authority (FCA) has agreed to:
On 29 June 2023, the FCA along with Ofcom, Ofgem, Ofwat and the UK Regulators Network (UKRN) have published a joint Dear CEO letter outlining their shared expectations of firms during the rising cost of living.
The letter explains that, when dealing with customers in financial difficulty, all firms across the regulated financial
On 29 June 2023, the FCA published a speech by Sheldon Mills, Executive Director, Consumers and Competition, delivered at the CityUK Annual Conference 2023. The speech discusses the FCA’s growth and competitiveness objective under the new Financial Services and Markets (FSM) Act.
Key points from Mr Mills’ speech include:
On 29 June 2023, the FCA published a letter addressed to the Heads of ESG and Sustainable Finance for firms in the Sustainability-Linked Loans (SLL) market. The letter contains a review of the SLL market.
Earlier this year, the FCA engaged with a number of stakeholders to: better understand the functioning of the