On 6 September 2024, the FCA published Consultation Paper 24/18: Quarterly Consultation Paper No.45 (CP24/18).
In summary, in CP24/18 the FCA is proposing to:
CP24/18: Quarterly Consultation Paper No. 45
PS24/10: Expansion of the Dormant Assets Scheme – second phase
On 2 August 2024, the FCA published Policy Statement 24/10 ‘Expansion of the Dormant Assets Scheme: second phase’ (PS24/10).
Introduction
The Dormant Assets Scheme (DAS) was initially set up to allow banks and building societies to pay dormant monies to an authorised reclaim fund, which would then put this money towards
Handbook Notice 121
On 26 July 2024, the FCA published Handbook Notice 121.
In this Handbook Notice the FCA briefly covers the following instruments that the FCA Board has approved:
PRA PS11/24 ‘Regulated fees and levies: Rates proposals 2024/25’
On 5 July 2024, the PRA published Policy Statement 11/24 ‘Regulated fees and levies: Rates proposals 2024/25’ (PS11/24).
PS11/24 is relevant to all firms that currently pay PRA fees or are expecting to do so within the 2024/25 fee year.
In PS11/24 the PRA sets out its final policy regarding:
- The fees rates
FCA published Handbook Notice No 119
On 24 May 2024, the Financial Conduct Authority (FCA) published Handbook Notice No 119, which describes the changes made to the FCA Handbook by the Executive Regulation and Policy Committee and the FCA Board under their legislative and other statutory powers.
Securitisation (Smarter Regulatory Framework and Consequential Amendments) Instrument 2024
In summary
FCA Handbook Notice 114
On 15 December 2023, the FCA published Handbook Notice 114.
This Handbook Notice describes the changes to the FCA Handbook and other material made by the FCA Board under its legislative and other statutory powers on 23 November 2023, 4 December 2023, and 14 December 2023.
On:
- 23 November 2023 the FCA Board made
PRA updates webpage on waivers and modifications of rules
On 8 December 2023, the PRA updated its webpage regarding waivers and modifications of rules.
The PRA has added a new section under the heading “Available waivers and modifications by consent” which concerns modifications by consent relating to the small domestic deposit taker (SDDT) regime. There are two modifications by consent offered from
Joint PRA and FCA Policy Statement on remuneration: enhancing proportionality for smaller firms
On 5 December 2023, the Prudential Regulation Authority (PRA) and Financial Conduct Authority (FCA) jointly published a Policy Statement (PS) on Remuneration: Enhancing proportionality for small firms (PRA PS16/23and FCA PS23/17).
In the PS, the PRA and the FCA provide feedback to responses to the PRA’s Consultation Paper CP5/23
FCA consults on capital deduction for redress: personal investment firms
On 29 November 2023, the FCA published Consultation Paper CP23/24 on Capital deduction for redress: personal investment firms (PIFs).
The consultation sets out the FCA’s proposals to require PIFs to be more prudent and set aside capital for potential redress liabilities at an early stage. The changes are being proposed due to the
FCA consults on regulatory fees and levies: policy proposals for 2024/25
On 21 November 2023, the FCA published Consultation Paper CP23/22: Regulatory fees and levies: policy proposals for 2024/25 (CP23/22).
In CP23/22, the FCA sets out its proposed policy changes to the way it will raise FCA fees from 2024/25, as well as some adjustments to the rules affecting Financial Ombudsman Service (FOS