The FCA has issued Guidance Consultation 15/4: Proposed guidance on the FCA’s registration function under the Co-operative and Community Benefit Societies Act 2014 (GC15/4).

In October 2014 the FCA consulted on draft guidance on its registration function under the Co-operative and Community Benefit Societies Act 2014. The FCA is in process of considering the feedback to the consultation but has set out in GC15/4 three areas on which it would welcome further feedback concerning its:

• views on the setting of interest rates on shares;
• approach to applying the ‘bona fide co-operative society’ statutory test; and
• proposals to more closely align its approach to society names with company law.

The deadline for responding to GC15/4 is 14 August 2015.

View GC15/4 Proposed guidance on the FCA’s registration function under the Co-operative and Community Benefit Societies Act 2014, 18 June 2015