On 2 December 2022, the FCA published Consultation Paper 22/26: Quarterly Consultation No 38 (CP22/26).
In CP22/26 the FCA consults on various miscellaneous amendments to the FCA Handbook which would:
- Make changes to the Training and Competence sourcebook.
- Make changes to remove all derivative products referencing USD LIBOR from the derivatives trading obligation.
- Move the Finalised Guidance on the FCA’s registration function under the Co-operative and Community Benefit Societies Act 2014 from its position as a static document on the website into the FCA Handbook
- Make changes to the Glossary of definitions, SYSC, COND, MIFIDPRU, IPRU-INV and SUP.
- Make consequential changes to chapter 19 of the Enforcement Guide which reflect the Money Laundering and Terrorist Financing (Amendment) (No. 2) Regulations 2022.
- Make changes to the rules in the Product Governance sourcebook to disapply certain requirements where products are available for distribution to customers resident outside the UK (where the state in which the risk is situated is outside the UK).
- Make changes to the Consumer Duty rules to provide further clarification. This includes proposed changes to the application provisions, how the Consumer Duty applies to firms in the temporary marketing permissions regime, and how the Consumer Duty applies to non-retail financial instruments.
The deadline for responses is 9 January 2023.