Handbook Notice 113 [pdf]

The Financial Conduct Authority (FCA) has published Handbook Notice 113 to summarize the latest amendments to its Handbook in accordance with the following consultations and FCA Instruments:
Figure 1 – Oversight Table

##### FCA 2023/28, CP22/28, PS23/15, EventID #23576.
This instrument was published by the FCA as part of a joint policy statement issued by both the Prudential Regulation Authority (PRA) and the FCA on the elimination of the bonus cap for material risk takers in banks, building societies, and PRA-designated investment firms on October 24, 2023 to be effective on October 31, 2023. It modifies the „Senior Management Arrangements, Systems and Controls“ Sourcebook (SYSC) to remove just such cap to allow firms more flexibility in dealing with changing market conditions.
##### FCA 2023/38, CP22/27, PS23/13, EventID #22984
This FCA instrument was published by the FCA on October 27, 2023 to be effective on November 6, 2023 as a response to the Authority’s final policy statement (PS23/13) outlining the FCA’s approach to approving firms that approve financial promotions, along with corresponding notification, reporting, and application fee requirements for FCA-approved firms (the financial promotion approver gateway). The instrument modifies numerous sourcebooks and manuals including
– Glossary of definitions
– Fees manual (FEES)
– Conduct of Business sourcebook (COBS)
– Insurance: Conduct of Business sourcebook (ICOBS)
– Mortgages and Home Finance: Conduct of Business sourcebook (MCOB)
– Banking: Conduct of Business sourcebook (BCOBS)
– Claims Management: Conduct of Business sourcebook (CMCOB)
– Funeral Plan: Conduct of Business sourcebook (FPCOB)
– Supervision manual (SUP)
– Decision Procedure and Penalties manual (DEPP)
– Consumer Credit sourcebook (CONC)
to implement this gateway.