On 17 March 2020, the FCA announced via a new webpage that it has decided to extend the closure dates for the following published consultation papers and calls for input until 1 October 2020, as part of its response to the COVID-19 outbreak.
The delayed consultation papers are:
- CP20/4: Quarterly consultation 27;
- CP19/32: Building operational resilience: impact tolerances for important business services;
- CP20/1: Introducing a single easy access rate (SEAR) for cash savings;
- CP20/3: Proposals to enhance climate-related disclosures by listed issuers and clarification of existing disclosure obligations; and
- CP20/5: Consultation paper on open-ended investment companies – proposals for a more proportionate listing regime.
The delayed calls for input are on:
- open finance; and
- accessing and using wholesale data.
The FCA also announced delays to other publications and activity that were due before the end of June 2020. It will provide an update at an appropriate point. The delays include:
- Joint PRA FCA work to develop industry led guidance on how to integrate climate related risks into business decision making across the FS sector;
- Motor Finance Policy Statement;
- Consultation Paper on mortgage switching;
- Vulnerability guidance;
- Vulnerability research;
- Options to change regulatory framework following the Duty of Care Feedback Statement;
- Consumer Credit Act (CCA) review;
- Credit Information Market Study – Interim Report; and
- GI Pricing Final report and Consultation Paper on remedies.
Finally, the FCA confirmed that it continues to aim to publish its final market study report on general insurance pricing in the summer, but will keep this under review.
