Regulatory AlertsCP16/17: Quarterly Consultation Paper No. 13
The Financial Conduct Authority proposes miscellaneous amendments to its Handbook, including aligning claims handling rules with the Insurance Act 2015 and updating mortgage and home finance guidance. The consultation also addresses changes to prescribed market definitions, Non-Financial Reporting Directive implementation, and adjustments to training qualifications, CASS audit requirements, and pooled investment vehicle definitions. These regulatory updates aim to enhance transparency reporting for alternative investment fund managers and refine supervisory and distribution rules.
Once a quarter, we consult on proposed miscellaneous amendments to our Handbook. These tend to be minor changes but we still want to get your feedback on our proposals.
CP16/17: Quarterly Consultation Paper No. 13 (PDF)
Why are we consulting on this?
We are proposing to:
align the claims handling rules with the Insurance Act 2015
make minor changes to rules and guidance for firms conducting mortgages and home finance activity
change the definition of a prescribed market in the Handbook Glossary for the purposes of DTR 5 following repeal of the Prescribed Markets and Qualifying Investments Order, and add a new rule in DTR 7.2 to implement the new Non-Financial Reporting Directive (2014/95/EU) (EU NFR) requirement for issuers to disclose their diversity policy in the corporate governance statement
change the Training and Competence sourcebook (TC) list of appropriate qualifications
dis-apply the CASS audit requirements to certain debt management firms
update rules on distribution and promotion of credit union deferred shares and subordinated debt
introduce a new ‘pooled investment vehicle’ definition to clarify the scope of the nonmainstream pooled investment rules
make changes to the regulatory reporting requirements set out in the Supervision manual (SUP)
make changes to the transparency reporting requirements for certain alternative investment fund managers, to reduce information gaps and allow effective monitoring of their risk-taking activities
Who is this paper aimed at?
This will be relevant if you or your firm has any interest in the subjects mentioned above.
Next steps
This consultation has now closed. We will publish feedback on responses and issue a Policy Statement once we have reviewed your comments.
Want to find out more?
For more information:
view the FCA Handbook
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