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PRA Occasional Consultation paper – October 2019

On 7 October 2019, the PRA published Occasional Consultation Paper 25/19: Occasional Consultation Paper (CP25/19). In CP25/19 the PRA proposes minor amendments to PRA Rulebook Parts, Supervisory Statements (SS), Statements of Policy (SoP) and relevant templates. In chapter 2, the PRA sets out proposals to update SS20/15: Supervising building societies’ treasury and lending activities and … Continue Reading

FCA Handbook Notice 67

On 28 June 2019, the FCA published Handbook Notice 67. This Handbook Notice provides a summary of the changes the FCA board made to the Handbook on 30 May 2019 and 27 June 2019.  The relevant instruments are: Mortgages and Home Finance (Peer to Peer) Instrument 2019; Operating an Electronic System in Relation to Lending … Continue Reading

FCA Policy Development update

On 7 June 2019, the FCA updated its ‘policy development update’ webpage, detailing recent and upcoming FCA publications. Amongst other things, the updated webpage notes the following publications are expected to be published shortly: policy statement on the high-cost credit review: buy now pay later – due June 2019; price discrimination in the cash savings … Continue Reading

FCA Handbook Notice 65

On 26 April 2019, the FCA published Handbook Notice 65. In Handbook Notice 65 the FCA briefly discusses: the changes its board made to the Handbook on 28 March 2019 through the Conduct of Business (Binary Options) Instrument 2019. The changes became effective on 2 April 2019 and create rules prohibiting the sale, marketing and … Continue Reading

FCA Handbook instrument introducing revised FCA supervisory principles

On 25 April 2019, the FCA published the Supervision Manual (Supervisory Principles Amendment) Instrument 2019. The Instrument amends the FCA’s Supervision Manual (SUP) by inserting at part 1A.3.2A G the FCA’s supervisory principles: as set out in their  Approach to Supervision document (see our blog here). Also amended by the Instrument is parts 1A.3.3 G, … Continue Reading

FCA Research Agenda

On 17 April 2019, the FCA set out its Research Agenda. The FCA’s research interests fall across five broad and complementary themes: household finance and consumer behaviour. The FCA states that to protect consumers, it needs a comprehensive understanding of individuals’ and households’ financial circumstances and decisions, as well as how firms respond to them. … Continue Reading

FCA Handbook Notice No. 64

On 29 March 2019, the FCA published Handbook Notice No. 64. The Handbook Notice describes the changes to the Handbook, Binding Technical Standards and other material made by the FCA under its legislative and other statutory powers on 28 February and 28 March 2019, and by the Board of the Financial Ombudsman Service, subject to … Continue Reading

PRA Policy Statement 6/19: responses to chapters 3-7 of CP24/18

On 5 March 2019, the PRA published Policy Statement 6/19: Responses to CP24/18 Occasional Consultation Paper – chapters 3 – 7 (PS6/19). In PS6/19 the PRA provides feedback to responses to chapters 3 to 7 of Consultation Paper 24/18: Occasional Consultation Paper (our blog is here). It also includes the final rules, and updated Supervisory … Continue Reading

FCA Handbook Notice 63

On 1 March 2019, the FCA published Handbook Notice 63, which sets out changes made to the FCA Handbook under FCA instruments on 24 January 2019 and 28 February 2019. The changes made to the Handbook are set out below: The Conduct of Business Sourcebook (Retirement Outcomes Review) Instrument 2019 has made changes to: Glossary; … Continue Reading

FCA Handbook No. 62

On 25 January 2019, the FCA published its latest Handbook Notice (No.62). In this Handbook Notice the FCA summarises the changes the FCA Board made to the Handbook on 13 December 2018, 2 January 2019 and 24 January 2019 in the following instruments: Personal Current Accounts and Overdrafts (Information and Tools for Customers) Instrument 2018 … Continue Reading

FCA Policy development update

On 4 January 2019, the FCA published its latest Policy development update. The update contains links to recently issued FCA publications and a table concerning forthcoming FCA publications. Among other things the FCA will publish in January a Policy Statement to Consultation Paper 18/21: General standards and communication rules for the payment services and e-money … Continue Reading

FCA Handbook instruments

On 1 January 2019, Financial Services and Markets Act 2000 (Securitisation) Regulations 2018 entered into force, implementing the EU Securitisation Regulation. The FCA has now published two instruments in light of this: Securitisation Regulation Implementation (Fees for Third Party Verifiers) Instrument 2019(FCA 2019/1). Enforcement (EU Securitisation Regulation) Instrument 2019(FCA 2019/2). Both instruments entered into force on … Continue Reading

Handbook Notice No. 61

On 13 December 2018, the FCA published Handbook Notice No. 61. The Handbook Notice describes the changes to the Handbook and other material made by the FCA board under its legislative and other statutory powers on 15 November and 13 December 2018. These changes were made in the following statutory instruments: High Cost Credit (Rent … Continue Reading

FCA consults on changes to permitted links rules to facilitate investment in patient capital

On 12 December 2018, the FCA published Consultation Paper 18/40: consultation on proposed amendment of COBS 21.3 permitted links rules  (CP18/40). The FCA’s proposals in CP18/40 will be of interest to those with an interest in unit-linked funds that may wish to hold illiquid or higher risk assets. The proposals follow recommendations by the Law … Continue Reading

FCA policy development update

On 2 November 2018, the FCA published its latest policy development update setting out links to recent FCA publications and a high level table of forthcoming FCA publications. Among other things the FCA states that in December 2018 it expects to publish a Policy Statement to Consultation Paper 18/25: approach to final regulatory technical standards … Continue Reading

PRA publishes Occasional Consultation Paper

On 22 October 2018, the PRA published Occasional Consultation Paper 24/18 (CP24/18). In CP24/18 the PRA sets out proposed miscellaneous amendments to its Rulebook, Supervisory Statements, Statements of Policy and forms. CP24/18 is divided into six chapters covering separate areas of proposals: reporting – amendment to the branch return: amending the incoming firms and third … Continue Reading

FCA policy development update: October 2018

The FCA has published its October policy development update. The update provides links to recent FCA publications and a high level list of upcoming publications which include: Policy Statement to Consultation Paper 18/25: Approach to final Regulatory Technical Standards and EBA guidelines under the PSD2 (December 2018); Policy Statement to Consultation Paper 18/21: General standards … Continue Reading
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