Events listed in FCA Handbook
Firms’ preparations to comply with the cryptoasset financial promotions regime – ...
ID 24859
The Financial Conduct Authority (FCA) has published a press statement to inform that it has conducted a review of various regulated cryptoasset firms to assess their preparedness for the cryptoasset financial promotions regime, which is set to take effect on October 8, 2023 (please see EventID 21585 in this context for more information). This review encompassed firms of varying sizes and business models with ...
Sanctions systems and controls: firms’ response to increased sanctions due to ...
ID 24852
The Financial Conduct Authority, FCA, has published a press release in relation to UK sanction measures, particularly since the beginning of Russia’s invasion of Ukraine, and firms‘ dealing with those measures in terms of sanction monitoring, due diligence, or reporting. Specifically, the FCA informs that it has conducted a review of firms‘ systems and controls to ensure compliance with UK sanctions regulations and to ...
CP23/19: Future Regulatory Framework – The Insurance Distribution Directive
ID 24832
In view of the UK’s intent to replace all retained EU legislation (REUL), the Financial Conduct Authority (FCA) has launched a consultation on proposed amendments and additions to the FCA Handbook to implement provisions for the replacement of four delegated acts under the retained Insurance Distribution Directive (UK IDD), namely – Retained Commission Delegated Regulation (EU) 2017/2359, – Retained Commission Implementing Regulation (EU) 2017/1469, ...
FCA analysing lenders’ fair value assessments
ID 24817
The Financial Conduct Authority, FCA, has published a press statement in which it informs that in response to concerns regarding the fairness of interest rates on savings products, it has mandated nine firms to submit their assessments of the value offered by their savings products. Such evaluation is in accordance with the implementation of the Consumer Duty in July 2023 which obliges firms to ...
CP23/18: Quarterly Consultation Paper No. 41
ID 24807
The Financial Conduct Authority, FCA, has published a new quarterly consultation paper (CP23/18) in which it seeks minor changes to the FCA Handbook intended to remove inconsistencies and provide clarity in relation to employers‘ liability insurance and professional indemnity insurance (PII) for authorized firms. The changes would result in amendments of the Insurance Conduct of Business sourcebook (ICOBS) and the FCA’s Supervision manual (SUP) ...
PRA Regulatory Digest – August 2023
ID 24798
The Prudential Regulation Authority (PRA) has published the latest version (August 2023) of its monthly regulatory digest. The digest outlines the Authority’s ongoing regulatory activities ranging from the launch of consultations, to the issuance of policy statements, to the implementation of regulatory changes and provides links to corresponding (legal) documents. The regulatory digest presents a viable source of information to stay up-to-date on regulatory ...
List of non-legal corrections and clarifications in the FCA Handbook
ID 24681
The Financial Conduct Authority ( FCA) has published an updated version of its List of non-legal corrections and clarifications in the FCA Handbook which contains changes the regulator has recently made to its Handbook which were NOT outlined in any corresponding instrument. The modifications are technical in nature, including corrections and adjustments primarily for clarification, correction, and regulatory alignment purposes. They do NOT alter ...
FCA analysis reveals there are fewer than 1 million interest-only mortgages ...
ID 24635
The Financial Conduct Authority, FCA, has published the findings from an analysis of outstanding UK mortgage loans, particularly in terms of the structure of these loans as to interest only loans, part-and-part loans, or principal and interest payments loans, the maturity of such loans, or key characteristics of such loans and their borrowers. In its latest Research Note, the FCA illustrates these findings, thereby ...
Authorised fund managers’ assessments of fund value 2023
ID 24615
The Financial Conduct Authority, FCA, recently published the findings from its review of the assessments of value (AoV) of authorized fund managers (AFMs) for the funds they manage. This assessment is a substantial requirement of fund managers under the Collective Investment Schemes Sourcebook (COLL) and includes at the minimum the yearly review of their funds in terms of fees, quality of investment decisions, and ...
FCA Listing Authority Advisory Panel (LAAP) and Markets Practitioner Panel (MPP) ...
ID 24586
The Listing Authority Advisory Panel (LAAP) and the Markets Practitioner Panel (MPP) of the Financial Conduct Authority (FCA) have published a joint response to the FCA’s consultation on the implementation of a new listing regime. To recall, in May 2023, the FCA launched a consultation on a proposed overhaul of the UK listing regime in an effort to remove current barriers to listing in ...