On 7 December 2018, the FCA published Consultation Paper 18/39: Quarterly Consultation No. 23 (CP18/39). In CP18/39 the FCA seeks views from interested stakeholders about whether or not it should recognise the FX Global Code (August 2018) and the UK Money Markets Code (April 2017). The FCA also proposes a number of changes to its … Continue Reading
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
On 26 October 2018, the FCA published Handbook Notice No.59. This Handbook Notice sets out changes to the Handbook made by the FCA Board in their recent meetings. Changes have been made to the following instrument: Conduct of Business Sourcebook (Pension Transfers) (No 2) Instrument 2018 (FCA 2018/47).… Continue Reading
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
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
On 7 September 2018, the FCA issued its latest Policy development update. The update provides hyperlinks to recently issued FCA publications: Global Financial Innovation Network; and Consultation Paper 18/23: Claims management companies: recovering the costs of regulation and the Financial Ombudsman Service. The update also contains a table concerning forthcoming expected FCA publications. This includes a … Continue Reading
On 3 August 2018, the FCA issued its latest Policy development update. The update provides hyperlinks to recently issued FCA publications including: Discussion Paper 18/4: Building the UK financial sector’s operational resilience; Track changes: Payment Services and Electronic Money – Our Approach – July 2018; Policy Statement 18/17: The European Money Market Funds (MMF) Regulation; … Continue Reading
On 1 August 2018, the FCA published Consultation Paper 18/22: Handbook changes to reflect the application of the EU Securitisation Regulation and the amendment to the Capital Requirement Regulation (CP18/22). In CP18/22 the FCA consults on amendments to its Handbook which take into account the Securitisation Regulation and amendments to the Capital Requirement Regulation (CRR), … Continue Reading
On 27 July 2018, the FCA published Handbook Notice No.57. This Handbook Notice sets out changes to the Handbook made by the FCA Board in their recent meetings. Changes have been made to the following instruments: FCA Recognised Industry Codes (DEPP and EG) Instrument 2018; Benchmarks Regulation (Amendment) (Financial Ombudsman Service) Instrument 2018; Insurance Distribution … Continue Reading
On 23 July 2018, the PRA published an occasional consultation paper on regulatory reporting (the Consultation Paper). In the Consultation Paper, the Prudential Regulation Authority (PRA) sets out reforms to the PRA reporting requirements. These reforms are: discontinuation of Prudent Valuation Return PV001; changes to PRA reporting instructions to align with updated EBA requirements (RFB001, … Continue Reading
On 20 July 2018, the FCA published the terms of reference for its Digital Regulatory Reporting Pilot (the Pilot). Following an FCA event which proved that machine executable regulatory reporting is technologically feasible, the Pilot aims to evaluate the potential benefits of machine readable and executable regulatory reporting via the development of a minimum viable … Continue Reading
On 10 July 2018, the Prudential Regulation Authority (PRA) issued an update to a proposed change to the Branch Return Form (the Form). The change requests that firms indicate the accounting standard applied to them: found in cell H30 of the amended document. The PRA seeks to consult on this change, however unless / until … Continue Reading
On 6th July 2018, the FCA issued its latest Policy development update. The update provides hyperlinks to recently issued FCA publications including (among others): CP18/14: Quarterly Consultation Paper No 21 on proposed amendments to the FCA Handbook; CP18/19: Introducing the Directory. Proposals to make public information on additional individuals carrying out a range of financial … Continue Reading
On 29 June 2018, the PRA updated Policy Statement 31/17: Responses to CP18/17 Occasional Consultation Paper – chapters 7 and 8 (PS31/17). PS31/17 now includes the EU Benchmarking Regulations Instrument 2018 (appendix 8) as the legislative framework for the PRA to implement the EU Benchmark Regulations is now in place.… Continue Reading
On 29 June 2018, the FCA published Handbook Notice No. 56. In the Handbook Notice the FCA summarises recent changes made to the Handbook as set out in the instruments below: Listing Rules (Sovereign Controlled Commercial Companies) Instrument 2018; Handbook Administration (No. 49) Instrument 2018; Benchmarks Regulation (Amendment) Instrument 2018; Periodic Fees (2018/19) and Other … Continue Reading
On 1 June 2018, the FCA published Consultation Paper 18/14: Quarterly Consultation Paper No. 21 (CP18/14). In CP18/14 the FCA is consulting on miscellaneous amendments to the FCA Handbook proposing changes to: dis-apply some Handbook rules to authorised professional firms who carry out non-mainstream regulated activities (chapter 1); the appointed representatives appointment form (chapter 1); … Continue Reading
On 1 June 2018, the FCA issued its latest Policy development update. The update provides hyperlinks to recent issued FCA publications: Policy Statement 18/10: Retiring Finalised Guidance (FG) 12/15 and FG14/1; Guidance Consultation (GC) 18/2: Fairness of variation terms in financial services consumer contracts under the Consumer Rights Act 2015; Handbook Notice 55; FG18/4: The … Continue Reading
On 25 May 2018, the FCA published Handbook Notice 55. This Handbook Notice describes the changes to the Handbook and other material made by the FCA Board under its legislative and other statutory powers on 26 April and 24 May 2018. The relevant instruments are: Financial Services Compensation Scheme (Funding Review) Instrument 2018 (FCA 2018/22); … Continue Reading
On 4 May 2018, the FCA published its latest online Policy development update. The FCA provides links to recently issued publications and sets out some of its upcoming publications.… Continue Reading
On 12 April 2018, the FCA updated its webpage on Consultation Paper 18/10: FCA regulated fees and levies: rates proposals 2018/19 (CP18/10) (our earlier blog is here). The FCA states that it has updated CP18/10 to provide some additional information to be consistent with the PRA’s consultation on its fees and levies for 2018/19 (our … Continue Reading
On 9 April 2018, the PRA published Consultation Paper 7/18: Regulated fees and levies: rates proposals 2018/19 (CP7/18). In CP7/18 the PRA sets out proposals for its fees and levies for 2018/19. CP7/18 is relevant to all firms that currently pay PRA fees or are expecting to do so within the 2018/19 fee year. The … Continue Reading
On 9 April 2018 the FCA published Consultation Paper 18/10: FCA regulated fees and levies: rates proposals 2018/19 (CP18/10). In CP18/10 the FCA consults on its proposed 2018/19 regulatory fees and levies. All fee payers will be affected by CP18/10. The FCA has provided two tables at the end of CP18/10 to help fee payers … Continue Reading
On 6 April 2018, the FCA published online its latest Policy Development update. The update provides links to recently issued FCA publications and a list of forthcoming FCA publications.… Continue Reading
On 23 March 2018, the FCA published Handbook Notice No. 53. This 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 22 February 2018 and 22 March 2018. It also describes changes made by the board of the Financial … Continue Reading
