On 1 October 2021, the FCA published Handbook Notice No.91 which describes the changes that the FCA Board made to the FCA Handbook on 30 September 2021. On this date the FCA Board approved the following instruments:
- Consumer Credit (Fixed Instalment Plan Repayment Allocation) (Amendment) Instrument 2021. In summary, this instrument makes changes to the FCA Handbook to offer firms a greater variety of fixed instalment plans as a feature of their credit card products, to support innovation and competition in the credit card market. This instrument came into force on 1 October 2021.
- Handbook Administration (No.57) Instrument 2021. This instrument makes minor amendments to the FCA Handbook. It amends the Glossary definition of ‘execution-only transaction’ to insert a reference to COBS 10A that was inadvertently omitted during the MiFID II implementation. It also amends the Glossary definition of ‘higher paid material risk taker’ to ensure that the FCA rules and guidance on remuneration for dual-regulated firms remain consistent with the PRA. In addition, the instrument amends SUP to change references of ‘Contact Centre’ to ‘Supervision Hub’ for clarity externally and internally, and for consistency in approach to FCA public documents. The instrument came into force on 1 October 2021.