On 27 January 2023, the FCA published Handbook Notice 106.

This Handbook Notice discusses the following instruments that the FCA board approved on 26 January 2023:

• British Steel Pension Scheme (Financial Resilience) (No 2) Instrument 2023.
• Senior Managers and Certification Regime (Significant SYSC Firm) Instrument 2023.

In relation to the latter instrument it makes changes to the Handbook so that only firms that would have been both significant IFPR firms and IFPRU investment firms under pre-Investment Firm Prudential Regime arrangements fall within the definition of a ‘significant SYSC firm’ for the purpose of the Enhanced scope Senior Managers and Certification regime. The instrument came into force on 27 January 2023.