Regulatory Alerts2018-09-05
CP18/24: Quarterly Consultation Paper No 22
The Financial Conduct Authority proposes clarifying the calculation of the own funds requirement for authorised payment institutions in form FSA056 to ensure accurate regulatory data collection. The regulator also seeks comments on replacing existing supervisory principles in the Supervision manual with eight updated principles that emphasize forward-looking, risk-based, and individual accountability approaches. These changes aim to align the FCA's Handbook provisions with its published Approach to Supervision and improve the effectiveness of firm supervision.
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