Regulatory AlertsCP15/21: Reform of the legacy Credit Unions Sourcebook
The Financial Conduct Authority and the Prudential Regulation Authority jointly propose reforms to the legacy Credit Unions Sourcebook to address their respective regulatory responsibilities. The Prudential Regulation Authority intends to delete the sourcebook entirely and replace it with a new Credit Unions Rulebook Part, while the Financial Conduct Authority plans to retain provisions related to its statutory duties. These changes will affect all credit unions, with the regulators seeking public feedback by 30 September 2015 ahead of a final Policy Statement.
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