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Latest FCA Policy development update

On 10 January 2020, the FCA published its latest Policy development update which provides information about recent and upcoming publications by the regulator. In terms of forthcoming publications the Policy development mentions that the FCA will publish: consultation paper on exit fees in investment platforms and comparable firms (March 2020); consultation paper on open-ended investment … Continue Reading

FCA Quarterly Consultation No. 26

On 6 December 2019, the FCA published Consultation Paper 19/33: Quarterly Consultation No. 26 (CP19/33) In CP19/33 the FCA seeks views from interested stakeholders on proposed miscellaneous changes to the following parts of the FCA Handbook: clarification of the rules relating to Financial Services Compensation Scheme claims against appointed representatives and principals (chapter 2); changes … Continue Reading

Latest FCA policy development update

On 6 December 2019, the FCA published its latest policy development update setting out information on recent and forthcoming FCA publications. Forthcoming FCA publications include: consultation and discussion on Investment Market Study remedies (to be published alongside the Market Study Final Report) – expected March 2019; consultation on price discrimination in the cash savings market … Continue Reading

FCA consults on proposed 2020/21 regulatory fees and levies

On 13 November 2019, the FCA published Consultation Paper 19/30: FCA regulated fees and levies: rates proposals 2020/21 (CP19/30). In CP19/30 the FCA consults on its periodic fees for the next financial year (1 April 2020 to 31 March 2021) and any proposed changes to application fees and other fees. The FCA also consults on the Financial … Continue Reading

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