The FCA has published its latest Quarterly Consultation Paper, Consultation Paper 16/21: Quarterly Consultation no.14 (CP16/21). In CP16/21 the FCA invites comments on various miscellaneous amendments to its Handbook:

  • chapter 2 of CP16/21: changes to the annual percentage rate assumptions for consumer credit agreements;
  • chapter 3: update the equity release rules in Mortgages and Home Finance: Conduct of Business (MCOB) to facilitate the availability of lifetime mortgages where the consumer can choose to switch to interest roll-up, and to make consequential changes to the Supervision manual for the reporting of product sales data;
  • chapter 4: changes to Short Form A;
  • chapter 5: changes to chapter 11 of the Prudential Sourcebook for Investment Firms to increase the clarity of requirements and ensure consistency with the Bank Recovery and Resolution Directive; and
  • chapter 6: to include deferred shares issued by mutual society insurers and friendly societies with the ‘mutual society shares’ definition.

The deadline for comments on chapters 2, 4 and 5 of CP16/21 is 3 October 2016. The deadline for responses on chapters 3 and 6 is 2 November 2016.

View Consultation Paper 16/21:Quarterly Consultation no.14, 2 September 2016