The FCA has published Consultation Paper 14/8: Quarterly consultation (no.5) (CP14/8). In CP14/8, the FCA invites comments on various miscellaneous proposed amendments to a number of sourcebooks within the FCA Handbook. CP14/8 is set out as follows:
- chapter 2 sets out proposed changes to the Training and Competence sourcebook which now includes six new qualifications, amends the details of two existing qualifications and contains one new additional provider;
- chapter 3 sets out proposed changes to the Consumer Credit sourcebook and other sourcebooks. Minor amendments are proposed;
- chapter 4 sets out proposed changes to several parts of chapter 16 of the Supervision manual. The FCA proposes changes to its requirements relating to persistency data for life policies and stakeholder pensions, submission by firms of their annual report and accounts, and product sales data reporting;
- chapter 5 sets out proposed changes to the Supervision manual, the Decision Procedure and Penalties manual and the Enforcement Guide. In particular, the FCA is proposing changes that will require all banks and building societies offering current accounts to confirm to the FCA each year that they have complied with the provisions of the Immigration Act 2014;
- chapter 6 contains proposed changes to the Insurance: Conduct of Business sourcebook. The FCA proposes to amend its rules relating to employers’ liability registers and the collection of employer reference numbers (ERNs) to address practical difficulties encountered by firms when collecting ERNs by proposing a rule that allows firms to collect ERNs on a best endeavours basis; and
- chapter 7 contains proposed changes to the Collective Investment Schemes sourcebook. The FCA is proposing rule changes requiring alternative investment fund managers to comply with the new 2014 version of a statement of recommended practice published by the Investment Management Association.
The deadline for comments on chapter 2 of CP14/8 is 6 July 2014 and for all remaining chapters is 6 August 2014.
View Consultation Paper 14/8: Quarterly consultation (no 5), 6 June 2014