CP24/3: Quarterly Consultation Paper No. 43

Quarterly Consultation CP24/3 No 43 March 2024

How to respond The Financial Conduct Authority invites comments on this consultation paper. Comments should reach us by 11 March 2024 for Chapter 2 and 8 April 2024 for Chapters 3 and 4. Comments may be sent by electronic submission using the form on the FCA’s website. Alternatively, please send comments in writing to: Chapter 2: Jessica Howard, Handbook and Fees Policy Telephone: 020 7066 1797 Chapter 3: Ranjit Bansal, Strategic Projects Team Telephone: 020 7066 4705 Chapter 4: Sophie Ellis, Policy Approach & Profession Telephone: 020 7066 1275 If you are responding in writing to several chapters please send your comments to Lisa Ocero in the Handbook Team, who will pass your responses on as appropriate. All responses should be sent to: Financial Conduct Authority 12 Endeavour Square London E20 1JN Email: cp24-3@fca.org.uk When we make rules, we are required to publish an account of the representations we receive and how we have responded to them. We are also required to publish a list of the names of the respondents who made the representations, where those respondents have consented to the publication of their names. In your response, please indicate whether or not you consent to the publication of your name. For further information on confidentiality of responses, see the disclaimer at the end of this CP. Sign up for our news and publications alerts See all our latest press releases, consultations and speeches.

3 Contents

1. Overview 4
2. Amendments to FEES 3 Annex 9R 5
3. Critical third parties – Statement of policy relating to disciplinary measures 8
4. Amendments to the Training and Competence sourcebook 11 Annex 1 Abbreviations used in this paper 16 Appendix 1 List of questions Appendix 2 Amendments to FEES 3 Annex 9R Appendix 4 Critical third parties - Statement of policy relating to disciplinary measures Appendix 4 Amendments to the Training and Competence sourcebook

4 Chapter 1 Overview Chapter No Proposed changes to Handbook Consultation Closing Period 2 Insertion of ‘B fee-block’ into FEES 3 Annex 9R(1)(a) and deletion of FEES 3 Annex 9(1)(e) to allow Special Project Fees for restructuring (SPFRs) to be chargeable to firms in the B fee-block in the circumstances set out in FEES 3 Annex 9R(2). 1 week 3 FSMA 2023 introduced a new regime for the oversight of critical third parties (CTPs) including enforcement powers. This chapter proposes a new Statement of Policy (SoP) setting out our approach to using these enforcement powers. 5 weeks 4 Amendments to the Training and Competence sourcebook. 5 weeks

5 Chapter 2 Amendments to FEES 3 Annex 9R Introduction 2.1 A Special Project Fee for restructuring (SPFR) enables the FCA to recover exceptional supervisory costs directly from a firm where it undertakes certain activities, as defined in FEES 3 Annex 9R, which put additional demands on our regulatory resources. The aim is to charge the firm directly for the additional work it is generating, so that other fee￾payers are not paying our costs. No SPFR is chargeable when the additional costs to the FCA are less than £50,000 for solo-regulated firms or £25,000 for dual-regulated firms. The cost to the FCA is calculated according to the criteria set out in FEES 3 Annex 9R.   2.2 Currently, payment for the restructuring activities specified in FEES 3 Annex 9R(2) is limited to firms that fall within the A, G.3, G.10, consumer credit and claims management fee-blocks. Firms in the B fee-blocks are excluded because, as we explained when we introduced the SPFR model, at that time they paid their annual fees on the basis of our assessment of the cost of regulating each firm. There was no need to charge a separate SPFR for B-block firms because the costs would be added to their fees the following year. Their eligibility for SPFRs was accordingly restricted to insolvency-related matters as they might no longer be fee-payers by the time we set their fees the following year.  2.3 When we changed the way we charge firms in the B fee-blocks in 2017, basing their fees on their revenue, we ought to have amended FEES 3 Annex 9R to account for this change but this was overlooked. This means that the SPFR rules no longer reflect our original policy intention because firms in the B fee-block can no longer be charged directly for any additional restructuring work they are generating, so their costs must instead be spread across other fee-payers. We accordingly propose to amend FEES 3 Annex 9R to ensure that firms in the B fee-blocks will be eligible to pay SPFRs on the same basis as firms in the A, G.3, G.10, consumer credit and claims management fee￾blocks.  2.4 Firms eligible to pay SPFRs will only be charged after the supervisory team has discussed the possibility of charging an SPFR with them and provided an estimate of the costs to be recovered. Following a discussion of the likely costs, the firm may make the commercial decision not to proceed with their project.   2.5 Having identified this inconsistency in the SPFR rules, we will carry out a review of FEES 3 Annex 9R and set out any proposals for further change in our fees policy consultation in November 2024.

6 Summary of proposals  2.6 We are proposing the following minor changes to FEES 3 Annex 9R to allow us to charge SPFRs to firms in the B fee-blocks when they are carrying out the activities specified in FEES 3 Annex 9R(2):   • Insert the B fee-blocks into the list of fee-blocks eligible for SPFRs in FEES 3 Annex 9R(1)(a).  • If we proceed with this amendment, FEES 3 Annex 9R(1)(e), which creates an exception for B-block firms, becomes obsolete. We accordingly propose to delete FEES 3 Annex 9R(1)(e). Question 2.1: Do you have any comments on the proposals to insert ‘B fee-block’ into FEES 3 Annex 9R(1)(a) and to delete FEES 3 Annex 9R(1)(e)? Rule Review Framework 2.7 The FCA’s Rule Review Framework states that while we will generally monitor key metrics of new rules, this is not a requirement where it would be disproportionate or where the new rule relates to a minor policy or rule change with minimal impact. Due to the nature of the changes proposed here, we are satisfied that the proposed amendments are exempt from the requirement to be monitored under the Framework. Cost benefit analysis 2.8 Under section 138I of the Financial Services and Markets Act 2000 (FSMA) the FCA is not required to carry out a cost benefit analysis (CBA) in relation to fees rules if the rule is made under paragraph 23 of Schedule 1ZA of FSMA.   Impact on mutual societies 2.9 Section 138K(2) of FSMA requires us to prepare a statement setting out our opinion on whether proposed rules will have an impact on mutual societies which is significantly different from the impact on other authorised persons.  2.10 Mutual societies do not fall within the B fee-blocks and so would not be impacted by these proposals. We are satisfied that the proposals in this chapter would not have a significantly different impact on mutual societies compared with other authorised persons. Compatibility statement 2.11 When consulting on new rules, we are required by section 138I(2) of FSMA to explain why we believe that making the proposed rules is consistent with our strategic objective, advances one or more of our operational objectives and (so far as reasonably possible) the secondary international competitiveness and growth objective. Further, we must have regard to the regulatory principles in section 3B of FSMA and the importance of taking action intended to minimise financial crime (section 1B(5)(b) of FSMA). We are

7 required to consider the recommendations made by the Treasury under section 1JA of FSMA. We are also required to have regard to the principles in the Legislative and Regulatory Reform Act 2006 and the Regulators’ Compliance Code.   2.12 We are satisfied that the proposed amendments are compatible with our objectives and regulatory principles. We are satisfied that any burdens or restrictions are proportionate to the expected benefits. We are also satisfied that the proposed amendments are compatible with the FCA’s secondary international competitiveness and growth objective.  2.13 We have reached the above conclusion on the basis that the proposals will ensure a fair distribution of costs across fee-payers in the B fee-block. Further, the proposals will ensure consistency across fee-blocks as firms in the B fee-blocks will be charged in the same way as firms in the A, G.3, G.10, consumer credit and claims management fee-blocks. Ensuring the fees we charge firms are both proportionate and transparent, supports the attractiveness of the UK as a place to do business, supporting both our international competitiveness and sustainable economic growth. Equality and diversity 2.14 We have considered the equality and diversity issues that may arise from the proposed amendments. We have not identified any adverse impact that the proposals in this chapter would have on any of the groups with protected characteristics under the Equality Act 2010 (ie, age, disability, sex, marriage or civil partnership, pregnancy and maternity, race, religion and belief, sexual orientation and gender reassignment). In Northern Ireland, the Equality Act is not enacted but other anti-discrimination legislation applies.   2.15 We will continue to consider the equality and diversity implications of the proposals during the consultation period and will revisit them when publishing the final rules. In the meantime, we welcome comments on any equality and diversity considerations respondents believe may arise.

8 Chapter 3 Critical third parties – Statement of policy relating to disciplinary measures Introduction 3.1 We have a range of investigatory and enforcement powers (including criminal powers) under various statutory regimes, such as the Financial Services and Markets Act 2000 (FSMA), the Banking Act 2009, and the Financial Services (Banking Reform) Act 2013. Our existing approach to enforcement is set out in the Decision Procedure and Penalties manual (DEPP), the Enforcement Guide (EG) parts of the FCA Handbook and the FCA website.   3.2 The Financial Services and Markets Act 2023 (FSMA 2023) created a new regime for the oversight of critical third parties (CTPs), including new enforcement powers for the FCA, Prudential Regulation Authority (PRA) and Bank of England (Bank) (collectively, the regulators). This chapter of the QCP proposes a new Statement of Policy (SoP) setting out the FCA’s approach to using these enforcement powers.  3.3 The regulators are consulting on a proposal for a CTP regime (Consultation Paper (CP) 26/23 and CP23/30 – Operational Resilience: Critical third parties to the UK financial sector), published on 7 December 2023. CP26/23 and CP23/30 did not deal with enforcement provisions. This chapter of the QCP sits alongside CP26/23 and CP23/30 and deals exclusively with the relevant enforcement provisions.  3.4 The FCA’s approach to enforcement supports our supervisory and oversight tools by holding firms and individuals to account where they have caused significant harm to consumers or markets and/or failed to meet our requirements. We consider the deterrent impact of our enforcement actions to help protect consumers and markets and act against firms and individuals that do not meet our standards. The proposals consulted on in CP26/23 and CP23/30 and this chapter of the QCP reflect our expanded remit following the changes introduced by FSMA 2023. Summary of proposals 3.5 FSMA 2023 creates a new regime under which the regulators will oversee the services provided by CTPs to the UK’s financial services sector. CTPs are those entities designated as such by HM Treasury under section 312L of FSMA. Under the new regime, we will have powers to take enforcement action where we consider that a CTP has contravened applicable regulatory requirements. The proposals in this chapter of the QCP relate to the FCA only. It is expected that the PRA and Bank will consult on their own enforcement proposals in due course.  3.6 The proposed CTP regime, including draft rules, is set out in CP26/23 and CP23/30. Section 312M FSMA grants the regulators powers to make rules regarding the services

9 that CTPs provide to regulated firms, which are necessary or expedient to advance any of the regulators’ objectives. Section 312N FSMA contains a power for the relevant regulators to direct a CTP to take a certain action or to refrain from taking a certain action, to advance any of the relevant regulators’ objectives.  3.7 This QCP chapter deals exclusively with matters relating to the exercise of enforcement by the FCA in relation to CTPs and does not form part of the current consultation CP26/23 and CP23/30. Section 312T of FSMA requires the relevant regulators to prepare and publish a SoP with respect to the exercise of the power of censure under section 312Q of FSMA, and disciplinary powers under section 312R of FSMA. The SoP proposed in this chapter, which is set out in the Appendix, will form part of DEPP in the FCA Handbook. Question 3.1: Do you have any comments on our proposed approach to the use of our enforcement powers against CTPs?  Rule Review Framework  3.8 The FCA’s Rule Review Framework states that while we will generally monitor key metrics of new rules, this is not a requirement where it would be disproportionate or where the new rule relates to a minor policy or rule change with minimal impact. Due to the nature of the changes proposed here, we are satisfied that the proposed amendments are exempt from the requirement to be monitored under the Framework. Our proposals do not introduce any new rules or significant changes to existing rules. Cost benefit analysis 3.9 Section 138IA FSMA requires us to publish a cost benefit analysis (CBA) when proposing draft rules. However, our proposals do not introduce any new rules or significant changes to existing rules. Section 138L of FSMA states that we do not need to provide a CBA where we consider that there will be no increase in costs, or the increases will be of minimal significance.   Impact on mutual societies 3.10 We are satisfied that the proposals in this chapter would not have a significant different impact on mutual societies compared with other authorised persons.   Compatibility statement 3.11 We must have regard to the regulatory principles in section 3B of FSMA and the importance of taking action intended to minimise financial crime (section 1B(5)(b) of FSMA). We are also required to have regard to the principles in the Legislative and Regulatory Reform Act 2006 and the Regulators’ Compliance Code.   3.12 We are satisfied that the proposals are compatible with our objectives, regulatory principles, and advance our operational objectives of securing an appropriate degree of consumer protection and promoting effective competition in the interests of

10 consumers. We are satisfied that any burdens or restrictions are proportionate to the expected benefits. We are also satisfied that the proposed amendments are compatible with the FCA’s secondary international competitiveness and growth objective. We explain in CP26/23 and CP23/30 (paragraph 11.12) how we believe the proposed CTP regime will advance the FCA’s secondary international competitiveness and growth objective by contributing to making the UK financial system safe and attractive for doing business. Setting out our approach to enforcement in relation to this regime in a transparent way makes clear the consequences of a CTP that is non-compliant, and therefore the prevention of serious harm to consumers and markets. Our approach to enforcement therefore complements the overall regime proposed in CP26/23 and CP23/30 by promoting trust in the UK financial system, and is compatible with the secondary international competitiveness and growth objective. 3.13 We are satisfied that the proposals advance our strategic objective of ensuring that the relevant markets function well and the objective of protecting and enhancing the integrity of the UK financial system.  3.14 Our proposals have taken account of the latest HMT remit letters and have regard to innovation and competition.   3.15 We have also considered the environmental, social, and governance implications of our proposals, and our duty under section 1B(5) and section 3B(c) of FSMA to have regard to contributing towards the Secretary of State achieving compliance with the net-zero emissions target under section 5 of the Environment Act 2021. Overall, we do not consider that the proposals are relevant to contributing to those targets. We will keep this issue under review during the course of the consultation period.  Equality and diversity 3.16 We have considered the equality and diversity issues that may arise from the proposed amendments. We have not identified any adverse impact that the proposals in this chapter would have on any of the groups with protected characteristics under the Equality Act 2010 (ie, age, disability, sex, marriage or civil partnership, pregnancy and maternity, race, religion and belief, sexual orientation and gender reassignment). In Northern Ireland, the Equality Act is not enacted but other anti-discrimination legislation applies.   3.17 We will continue to consider the equality and diversity implications of the proposals during the consultation period. In the meantime, we welcome comments on any equality and diversity considerations respondents believe may arise. 

11 Chapter 4 Amendments to the Training and Competence sourcebook Introduction 4.1 Our training and competence (TC) regime supports consumers by making sure the financial services workforce is appropriately qualified and well regulated. The regime includes detailed requirements for individuals carrying on certain retail activities and qualification requirements which are set out in the TC sourcebook. We generally consult whenever a new qualification is added, or when other changes are made to the TC sourcebook.  4.2 In this chapter, we are proposing to introduce an annual consultation cycle on qualification-related elements within the TC sourcebook. The proposed changes in this chapter are intended to apply to all firms, including Gibraltar based-firms, who are subject to our TC requirements. This will be of interest to those firms, as well as relevant individuals, qualification providers and accredited bodies. 4.3 We have also reviewed the qualification table contained within the TC sourcebook and are proposing to rearrange it so that it is easier to identify those qualifications that are no longer provided. As such, in this chapter we are proposing to make the following changes: • A number of updates to the qualification table within the TC sourcebook  • Altering the format of the qualification table (splitting into 2 parts – Part 2A and Part 2B) to move qualifications which are no longer provided or no longer meet our listing requirements to TC 4.1.1DE Part 2B  Summary of proposals Annual consultation  4.4 We propose to implement an annual consultation cycle for updates to the qualification￾related elements of the TC sourcebook, which can be deviated from in exceptional circumstances, as determined necessary by the FCA. Amendments, such as an update to the title of an appropriate qualification, will be considered in the normal course of the proposed annual consultation. 4.5 We receive notifications of changes relating to areas such as the qualifications table and related qualifications providers, accredited bodies, and other relevant bodies on an ad hoc basis and as a result we include these in upcoming QCPs as and when these are received, and amendments are needed.

12 4.6 We believe that by seeking to move to consultation on an annual basis, interested parties, such as qualification providers or accredited bodies, will be able to better plan and notify us of changes in advance. Additionally, it will help the FCA to ensure better resource planning for updates, which can be burdensome as a result of the current ad hoc nature.   4.7 As such, we believe that moving to an annual consultation cycle will reduce the number of times we consult and is likely to be more efficient with limited impact for qualification providers, accredited bodies, and other relevant bodies or individuals. It will allow access to a regular schedule through which the FCA is notified if there are any updates creating a more efficient and valuable process.  4.8 To account for any urgent changes, we propose including the option to consult outside of the annual schedule where there are exceptional circumstances. These circumstances will be determined exceptional by the FCA on a case by case basis, but this could include where a brand-new qualification has started to be provided, or where a qualification needs to be removed with urgency. This will ensure flexibility and maintain accuracy, supporting our proposals.  4.9 We are intending to consult on changes to qualification related changes later this year, to provide qualification providers and accredited bodies with sufficient opportunity to make us aware of any necessary changes to our TC sourcebook. Then, subject to the outcome of this consultation, we will move to consulting annually from 2025.   Question 4.1: Do you agree with moving to an annual consultation cycle for matters affecting qualification-related elements of the TC sourcebook? If not, how regularly do you think we should consult on issues affecting the qualification table related elements of the TC sourcebook? Format changes to the qualification table  4.10 We propose to alter the format of the qualification table to place qualifications which are no longer provided or no longer meet our requirements into a separate part of the table. We propose that this table will remain within the relevant section (TC App 4) and alongside the qualification table in TC App 4.1 but will constitute its own list under Part 2B.   4.11 As all qualifications are currently displayed on the same table, it is not always easily understood which qualifications are still within our requirements or still provided. We believe that this format change will make the table more user friendly by giving clarity to qualification providers and those looking for relevant qualifications over which qualifications are still provided, those that have been replaced and those which are no longer meeting our requirements.  4.12 Currently, we rely on qualification providers giving end dates for qualifications which are no longer provided, or which no longer meet FCA requirements. These are then displayed with the qualification listing in the table. This means that clarity of the status

13 of a qualification is sometimes lacking where an end date is not available, particularly for qualifications which have not been provided for several years.   4.13 Where a qualification has a change in activity numbers, but no change in name, we propose that that the qualifications will remain within Part 2A of the table at TC App 4.1, but indicate the change with an end date. This will limit confusion over changes to qualifications for those looking for appropriate qualifications and help to ensure version control.   Question 4.2: Do you agree with the format changes to the qualification table in TC 4.1?  Updates to the qualification table  4.14 The appropriate qualifications table at TC App 4.1 lists which qualifications are deemed appropriate for the purposes of the evidential rule at TC 2.1.10E. 4.15 We have proactively reached out to each of the qualification’s providers listed within the qualifications table at TC App 4.1 and requested updates to the offerings listed where possible. Based on responses from each of those providers we are proposing to:  • Move qualification providers that are no longer providing appropriate qualifications in line with our requirements to the proposed Part 2B of the table • Move qualifications which are either no longer provided or no longer appropriate qualifications to the proposed Part 2B of the table • Amend the names of appropriate qualifications where there has been a name change • Add an additional qualification • Move qualification providers who have since dissolved to the proposed Part 2B of the table • Update the names of certain qualification providers   4.16 We will consult again in the second half of this year with further updates for qualification providers who were unable to complete their updates in time for this consultation.  Question 4.3: Do you have any comments on the proposed changes to the qualification table in TC App 4.1?  Rule Review Framework  4.17 The FCA’s Rule Review Framework states that while we will generally monitor key metrics of new rules, this is not a requirement where it would be disproportionate or where the new rule relates to a minor policy or rule change with minimal impact. Due to the nature of the changes proposed here, we are satisfied that the proposed amendments are exempt from the requirement to be monitored under the Framework. 

14 Cost benefit analysis 4.18 Section 138I of Financial Services and Markets Act 2000 (FSMA) requires us to perform a cost benefit analysis (CBA) of our proposed requirements and to publish the results unless we consider the proposal will not give rise to any cost or that the increase in costs will be of minimal significance. 4.19 We expect firms to incur no, or minimal, additional costs as a result of these proposals as they aim to keep the qualification-related elements in the TC sourcebook up to date – the same as the current process – and introduce regular consultation. The movement of qualifications that are no longer provided or no longer meet our listing requirement into Part 2B will also not incur any extra cost to firms. As such, we have not conducted a CBA as per the exemption under FSMA. Impact on mutual societies 4.20 Section 138K of FSMA requires us to state whether, in our opinion, our proposed rules have a significantly different impact on authorised persons who are mutual societies, compared to other authorised persons. We do not believe this will be the case.  Compatibility statement 4.21 When consulting on new rules, we are required by section 138I(2) of FSMA to explain why we believe that making the proposed rules is consistent with our strategic objective, advances one or more of our operational objectives and (so far as reasonably possible) the secondary international competitiveness and growth objective. Further, we must have regard to the regulatory principles in section 3B of FSMA and the importance of taking action intended to minimise financial crime (section 1B(5)(b) of FSMA). We are also required to have regard to the principles in the Legislative and Regulatory Reform Act 2006 and the Regulators’ Compliance Code.   4.22 We are satisfied that the proposed amendments are compatible with our objectives and regulatory principles. The amendments advance our operational objectives of securing an appropriate degree of consumer protection and promote effective competition in the interests of consumers. By introducing a regular consultation schedule to matters impacting the TC sourcebook, this will better ensure its accuracy on an ongoing basis in terms of the qualifications accepted as meeting our requirements to undertake certain activities and as across all providers. Moving qualifications to Part 2B will also to help clarify this position. From previous qualification provider feedback, we believe that this proposal will significantly improve the layout and understanding of the table, furthering our objective of consumer protection, allowing more informed decisions. 4.23 We are satisfied that any burdens or restrictions are proportionate to the expected benefits. In meeting our operational objectives in this way, these proposals are also compatible with our secondary international competitiveness and growth objective. By seeking to set out our requirements on firms in a clear and more accessible way, for both industry participants and consumers, we will promote trust and confidence in our markets, and help facilitate a wide and suitably qualified talent pool, bringing potentially

15 more choice for consumers, which aligns with sustained growth and international competitiveness. Equality and diversity 4.24 We have considered the equality and diversity issues that may arise from the proposed amendments. We have not identified any adverse impact that the proposals in this chapter would have on any of the groups with protected characteristics under the Equality Act 2010 (ie, age, disability, sex, marriage or civil partnership, pregnancy and maternity, race, religion and belief, sexual orientation and gender reassignment). In Northern Ireland, the Equality Act is not enacted but other anti-discrimination legislation applies.   4.25 We will continue to consider the equality and diversity implications of the proposals during the consultation period and will revisit them when publishing the final rules. In the meantime, we welcome comments on any equality and diversity considerations respondents believe may arise.

16 Annex 1 Abbreviations used in this paper Abbreviation Description Bank Bank of England CBA Cost benefit analysis CP Consultation Paper CTPs Critical third parties DEPP Decision Procedure and Penalties manual EG Enforcement Guide FEES Fees manual FSMA The Financial Services and Markets Act 2000 FSMA 2023 Financial Services and Markets Act 2023 PRA Prudential Regulation Authority SoP Statement of Policy SPFR Special Project Fee for restructuring TC Training and competence

17 We make all responses to formal consultation available for public inspection unless the respondent requests otherwise. We will not regard a standard confidentiality statement in an email message as a request for non-disclosure. Despite this, we may be asked to disclose a confidential response under the Freedom of Information Act 2000. We may consult you if we receive such a request. Any decision we make not to disclose the response is reviewable by the Information Commissioner and the Information Rights Tribunal. We are obliged to list the names of respondents, which is a matter separate from any request for the content of a response to be kept confidential. However, we will only publish the name of a respondent to a consultation where that respondent has consented to the publication of their name. All our publications are available to download from www.fca.org.uk. Request an alternative format Please complete this form if you require this content in an alternative format. Or call 020 7066 6087 Sign up for our news and publications alerts

Appendix 1 List of questions Question 2.1: Do you have any comments on the proposals to insert ‘B fee-block’ into FEES 3 Annex 9R(1)(a) and to delete FEES 3 Annex 9R(1)(e)? Question 3.1: Do you have any comments on our proposed approach to the use of our enforcement powers against CTPs? Question 4.1: Do you agree with moving to an annual consultation cycle for matters affecting qualification-related elements of the TC sourcebook? If not, how regularly do you think we should consult on issues affecting the qualification table related elements of the TC sourcebook? Question 4.2: Do you agree with the format changes to the qualification table in TC 4.1? Question 4.3: Do you have any comments on the proposed changes to the qualification table in TC App 4.1?

Appendix 2 Amendments to FEES 3 Annex 9R

FCA 2024/XX FEES (SPECIAL PROJECT FEE FOR RESTRUCTURING) (AMENDMENT) INSTRUMENT 2024 Powers exercised A. The Financial Conduct Authority (“the FCA”) makes this instrument in the exercise of the powers and related provisions in or under the following: (1) the following sections of the Financial Services and Markets Act 2000 (“the Act”): (a) section 137T (General supplementary powers); and (b) paragraph 23 (Fees) in Part 3 (Penalties and Fees) of Schedule 1ZA (The Financial Conduct Authority); (2) regulation 26 (FCA: penalties, fees and exemption from liability in damages) of the Financial Services and Markets Act 2000 (Benchmarks) Regulations 2018 (SI 2018/135); and (3) regulation 9 (Functions of the Authority) of the Recognised Auction Platforms Regulations 2011 (SI 2011/2699). B. The rule-making powers listed above are specified for the purpose of section 138G(2) (Rule-making instruments) of the Act. Commencement C. This instrument comes into force on [date]. Amendments to the Handbook D. The Fees manual (FEES) is amended in accordance with the Annex to this instrument. Citation E. This instrument may be cited as the Fees (Special Project Fee for Restructuring) (Amendment) Instrument 2024. By order of the Board [date]

FCA 2024/XX Page 2 of 2 Annex Amendments to the Fees manual (FEES) In this Annex, underlining indicates new text and striking through indicates deleted text, unless stated otherwise. 3 Application, Notification and Vetting Fees … 3 Annex 9R Special Project Fee for restructuring (1) R The Special Project Fee for restructuring (the SPFR) is only payable by a person in one of the following categories: (a) if that person falls within any of the A, B, CC1, CC2 and CMC fee￾blocks (as defined in Part 1 of FEES 4 Annex 1AR); or (b) if that person falls within fee-block G.3 or G.10 (as defined in FEES 4 Annex 11); or (c) [deleted] (d) [deleted] (e) if that person falls within any of the B fee-blocks (as defined in Part 1 of FEES 4 Annex 1AR); or [deleted] (f) if that person applies for the permission in MIFIDPRU 4.12.4R. …

Appendix 4 Critical third parties - Statement of policy relating to disciplinary measures

FCA 2024/XX CRITICAL THIRD PARTIES STATEMENT OF POLICY RELATING TO DISCIPLINARY MEASURES INSTRUMENT 2024 Powers exercised A. The Financial Conduct Authority (“the FCA”) makes this instrument in the exercise of the following powers and related provisions in the Financial Services and Markets Act 2000 (“the Act”): (1) section 137T (General supplementary powers); (2) section 139A (Power of the FCA to give guidance); and (3) section 312T (Statement of policy relating to disciplinary measures). B. The FCA makes this instrument in the exercise of the power in section 139A (Power of the FCA to give guidance) of the Act. Commencement C. This instrument comes into force on [date]. Amendments to the Handbook D. The Glossary of definitions is amended in accordance with Annex A to this instrument. E. The Decision Procedure and Penalties manual (DEPP) is amended in accordance with Annex B to this instrument. Citation F. This instrument may be cited as the Critical Third Parties Statement of Policy Relating to Disciplinary Measures Instrument 2024. By order of the Board [date]

FCA 2024/XX Page 2 of 6 Annex A Amendments to the Glossary of definitions In this Annex, underlining indicates new text and striking through indicates deleted text. public censure … (5) a statement published under section 282B (Public censure) of the Act.; (6) a statement published under section 312Q (Public censure) of the Act.

FCA 2024/XX Page 3 of 6 Annex B Amendments to the Decision Procedure and Penalties manual (DEPP) In this Annex, underlining indicates new text and striking through indicates deleted text. 2 Statutory notices and the allocation of decision making … 2 Annex 1 Warning notices and decision notices under the Act and certain other enactments … Section of the Act Description Handbook reference Decision maker … 312G(1) 312H(1) … 312Q when the FCA is proposing or deciding to publish a notice of public censure under section 312Q of the Act DEPP 6A.1.1.G(4) Executive procedures 312R(2) when the FCA is proposing or deciding to publish a notice of disciplinary measures under section 312R(2)(a) to (e) of the Act DEPP 6A.1.1.G(4) DEPP 6A.1.2G(6) DEPP 6A.2.6G Executive procedures … … 6A The power to impose a suspension, restriction, condition, limitation or disciplinary prohibition 6A.1 Introduction 6A.1.1 G DEPP 6A sets out the FCA’s statement of policy with respect to: (1) …

FCA 2024/XX Page 4 of 6 (2) the imposition of suspensions, conditions or limitations under section 66 of the Act, the period for which suspensions or conditions are to have effect, and the period for which approvals under section 59 have effect as a result of a limitation, as required by section 69(1); and (3) the imposition of disciplinary prohibitions, suspensions or restrictions under sections 123A and 123B of the Act, as required by section 124(1).; and (4) the exercise of its power of public censure under sections 312Q of the Act and the imposition of disciplinary measures under section 312R of the Act, as required by section 312T of the Act. 6A.1.2 G (1) For the purposes of DEPP 6A, “suspension” refers to the suspension of: … (4) “limitation” refers, apart from in DEPP 6A.1.2G(2), to a limitation of the period for which any approval of the performance by an approved person of any function to which the approval relates is to have effect (under section 66 of the Act); and (5) “disciplinary prohibition” refers to a temporary or permanent prohibition on an individual holding an office or position involving responsibility for taking decisions about the management of a MiFID investment firm (under section 123A(2)(a) and (3) of the Act) or a temporary prohibition on an individual directly or indirectly acquiring or disposing of financial instruments on their own account or the account of a third party, (under section 123A(2)(b) of the Act) or a temporary prohibition on an individual directly or indirectly making a bid at an auction conducted by a recognised auction platform, on their own account or the account of a third party (under section 123A(2)(c) of the Act).; and (6) For the purpose of section 312T of the Act, “disciplinary measures” under section 312R of the Act refers to: (a) prohibiting the critical third party from entering into arrangements, or continuing, to provide services to authorised persons, relevant service providers or FMI entities; (b) prohibiting authorised persons, relevant service providers or FMI entities who receive services from the critical third party from continuing to receive those services from that party;

FCA 2024/XX Page 5 of 6 (c) prohibiting authorised persons, relevant service providers or FMI entities from entering into arrangements for receipt of services from the critical third party; (d) providing for the provision of any services by the critical third party to be subject to such conditions or limitations as are specified in the notice; and (e) providing for any receipt of services by authorised persons, relevant service providers or FMI entities from the critical third party to be subject to such conditions or limitations as are specified in the notice. … 6A.2 Deciding whether to take action … 6A.2.5 G … 6A.2.6 G For the purposes of section 312T of the Act, the FCA will apply its usual supervisory and enforcement approaches and respond to compliance issues as they arise. The FCA may take enforcement action against critical third parties in respect of the services that they provide to firms and FMIs, when appropriate and proportionate. The FCA may take enforcement action if a critical third party has: (1) ignored a direction; (2) contravened a requirement imposed upon it; or (3) breached any rules which may be in force imposing duties on critical third parties in connection with the provision of services to authorised persons. When taking enforcement action, the FCA will apply its existing approach to enforcement as set out in DEPP, EG and on its website. … Sch 4 Powers Exercised Sch 4.1 G The following powers and related provisions in or under the Act have been exercised by the FCA to make the statements of policy in DEPP: …

FCA 2024/XX Page 6 of 6 Section 312J (Statement of policy) Section 312T (Statement of policy relating to disciplinary measures) … …

Appendix 4 Amendments to the Training and Competence sourcebook

FCA 2024/XX TRAINING AND COMPETENCE SOURCEBOOK (AMENDMENT) INSTRUMENT 2024 Powers exercised A. The Financial Conduct Authority (“the FCA”) makes this instrument in the exercise of the following powers and related provisions of the Financial Services and Markets Act 2000 (“the Act”): (1) section 137A (The FCA’s general rules); (2) section 137T (General supplementary powers); and (3) section 138C (Evidential provisions). B. The rule-making powers listed above are specified for the purpose of section 138G(2) (Rule-making instruments) of the Act. Commencement C. This instrument comes into force on [date]. Amendments to the Handbook D. The Training and Competence sourcebook (TC) is amended in accordance with the Annex to this instrument. Notes E. In the Annex to this instrument, the notes (indicated by “Note:” or “Editor’s Note:”) are included for the convenience of readers but do not form part of the legislative text. Citation F. This instrument may be cited as the Training and Competence Sourcebook (Amendment) Instrument 2024. By order of the Board [date]

FCA 2024/XX Page 2 of 30 Annex Amendments to the Training and Competence sourcebook (TC) In this Annex, underlining indicates new text and striking through indicates deleted text, unless stated otherwise. [Editor’s note: This Annex takes into account changes proposed in the Training and Competence Sourcebook (Amendment No 12) Instrument 2023 in CP23/25, as if they were made.] App 4 Appropriate Qualification tables App 4.1 Appropriate Qualification tables TC App 4.1 is relevant to TC 2.1.10E (selecting an appropriate qualification). … Extent to which the qualification meets the qualification requirement in relation to non-RDR activities … App 4.1.1D E Part 2: Appropriate Qualifications Tables Note: A qualification is deemed an appropriate qualification if it appears in this table and is attained within the relevant time period, where one is indicated by the dates set out in the qualification column. [Editor’s note: The qualification listings in ‘Part 2: Appropriate Qualifications Tables’ are now divided into ‘Part 2A: Appropriate Qualifications offered’ or ‘Part 2B: Appropriate Qualifications no longer offered or that no longer meet our requirements’. The qualifications moving to new Part 2B are those where all the text below in a particular row in the ‘Qualification’ column is struck through. Where that is the case, the text for that qualification, together with the corresponding text in the ‘Qualification provider’, ‘Activity Number(s)’ and ‘Key’ columns of that row, is also added to the qualification listings in new Part 2B below, regardless of whether the text is struck through. Where the text is not struck through it also remains in Part 2A. Of the text that remains in Part 2A amendments are indicated below where striking through indicates deleted text and underling indicates new text.] Part 2A: Appropriate Qualifications offered Qualification provider Qualification Activity Number(s) Key

FCA 2024/XX Page 3 of 30 ACI The Financial Markets Association … ACI Dealing Certificate when combined with Chartered Institute of Securities and Investment (CISI) Introduction to Securities and Investments and one of the Regulatory units of the Investment Operations Certificate (IOC) 15, 17 4 ACI Operations Certificate when combined with Chartered Institute of Securities and Investment (CISI) Introduction to Securities and Investments and one of the Regulatory units of the Investment Operations Certificate (IOC) ACI FX Global Code Exams 10 and 14 4 15, 16, 17, 18, 19 4 … Blackburn College - University Centre Foundation Degree Award in Financial Services (syllabus in force until 31 October 2017) 4 and 6 a Bournemouth University BA in Financial Services (1995 to 2001) 4 and 6 b MA in Financial Services (1995 to 2001) Post Graduate in Financial Services (1995 to 2001) Bayes Business School (Formerly CASS Business School) MSC in Banking and International Finance (provided it is accompanied by appropriate qualifications in Regulation and Ethics, 2, 3, 12, 13 a

FCA 2024/XX Page 4 of 30 Investment Principles and Risk and Personal Taxation) Calibrand / Chartered Banker Institute (Formerly the Chartered Institute of Bankers in Scotland) Diploma in Professional Financial Advice (Post 30/4/2014) and Pre 01/03/2022) 4 and 6 a Calibrand / Scottish Qualifications Authority Diploma in Professional Financial Advice (Pre 1/8/2018) 4 and 6 a Diploma in Professional Financial Advice (NMBA - Alternative Assessment method) … CASS Business School MSC in Banking and International Finance (provided it is accompanied by appropriate qualifications in Regulation and Ethics, Investment Principles and Risk and Personal Taxation) 2, 3, 12, 13 a MSC in Investment Management pre 2003 syllabus (provided it is accompanied by appropriate qualifications in Regulation and Ethics and Personal Taxation) 2, 3, 12, 13 b … Chartered Banker Institute (Formerly the Chartered Institute of Bankers in Scotland) Diploma in Investment Planning (Existing Adviser) (Post 2010 examination standards and Pre 1/6/2015) 4 and 6 a Diploma in Investment Planning (New Adviser) (Post 2010 examination standards and Pre 1/6/2015)

FCA 2024/XX Page 5 of 30 Diploma in Investment Planning (Retail Banking) (New Adviser) (Post 2010 examination standards and Pre 1/6/2015) Diploma in Investment Planning (Retail Banking) (Existing Adviser) (Post 2010 examination standards and Pre 1/6/2015) Diploma in investment planning (work based assessment)(Pre 1/6/2015) Associate (March 1992 to July 1994 syllabus (including top-up test)) 4 and 6 b Associate (post August 1994 syllabus) Certificate in Investment Planning (Pre 17/09/2004) Chartered Banker (where candidates hold UK Financial Services and Investment modules) Diploma in Investment Planning (current) Associateship - (must include a pass in the Investment Paper) 2, 3, 12, 13 b Certificate in Investment Planning - Paper 1 15, 16, 18, 19 4 15, 16, 17, 18, 19 5 …

FCA 2024/XX Page 6 of 30 Member or Associate 15, 16, 17, 18, 19 4 Mortgage Advice and Practice Certificate 20 1 Certificate in Mortgage Advice and Practice (MAPC) (Pre 16/09/2004) 20, 21, 22 1 MAPC bridge paper plus entry requirements (Pre 31/10/2004) 20 1 Certificate in Investment Planning - Paper 1 (Pre 16/09/2004) 20, 21, 22 3 MAPC - Paper 1 (Pre 16/09/2004) 20 3 Mortgage Advice and Practice Certificate - Paper 1 (Post 17/09/2004) 20, 21 3 Equity Release Mortgage Advice and Practice Certificate (ERMAPC) 21, 22 1 Lifetime Mortgage Advice and Practice Certificate MAPC Bridge paper plus entry requirements (Pre 16/09/2004) Certificate in Mortgage Advice and Practice (MAPC) (Pre 16/09/2004) - Paper 1 21, 22 3 Equity Release Mortgage Advice and Practice Certificate (ERMAPC) 23 4 23 5 23 6

FCA 2024/XX Page 7 of 30 … … Chartered Institute for Securities and Investment (CISI) - (Formerly the Securities and Investment Institute (SII): formerly the Securities Association) … Diploma (where candidate holds 3 modules as recommended by the firm) (pre 01/01/2017) 2, 3, 4 and 6, 12 13 b Investment Advice Certificate (Pre 17/07/2006) 2, 3, 4 and 6, 12, 13 b Masters in Wealth Management (Pre 2010 examination standards) 2, 3, 4 and 6, 12, 13 b … Certificate in Derivatives – Paper 2 (Pre 01/04/2024) 15, 16, 17, 18, 19 4 … Certificate in Investment Management (Level 3, pre 31 December 2013) 8 1 15, 16, 17, 19 4 15, 16, 17 5 14 and 10 1 … 8 2

FCA 2024/XX Page 8 of 30 Certificate in Investment Management – Paper 2 (Pre 01/01/2014) 14 and 10 Certificate in Securities (Pre 01/04/2024) 8 1 Certificate in Securities –Paper 2 (Pre 01/04/2024) 15, 16, 17, 18, 19 4 … Diploma (Pre 01/01/2017) 15, 16, 17, 18, 19 4 … Diploma – Global Operations Management Module (Pre 01/04/2024) 15, 16, 17,18, 19 4 15, 16, 17 5 6 … Diploma (must include a pass in Regulation and Compliance Paper) (Pre 01/01/2017) 8 1 Diploma (where candidate holds 3 modules as recommended by the firm) (Pre 01/01/2017) 14 and 10 1 … Investment Advice Certificate (Pre 17/07/2006) 14 and 10 1 15, 16, 17, 18, 19 4

FCA 2024/XX Page 9 of 30 Investment Advice Certificate – Paper 1 (Pre 17/07/2006) 5 Investment Advice Certificate - Paper 1 (No new registrations) 20, 21, 22 3 Investment Advice Certificate – Paper 2 (pre 17/06/2006) 18, 19 6 … Investment Operations Certificate – Global Securities Operations Module (Pre 01/04/2024) 17 6 Investment Operations Certificate – Global Securities Operations Module (Pre 01/04/2024) 16 6 … Investment Operations Certificate – Operational Risk Module (Pre 01/04/2024) 15, 16, 17 6 … Level 3 Certificate in Investments (Derivatives) – Unit 3 (Pre 01/04/2024) 15, 16, 17, 18, 19 4 … Level 3 Certificate in Investments (Securities) (Pre 01/04/2024) 8 1

FCA 2024/XX Page 10 of 30 Level 3 Certificate in Investments (Securities) - Unit 2 (Pre 01/04/2024) 15, 16, 17, 18, 19 4 … Chartered Insurance Institute … Certificate in Pension Transfer Advice (meets requirement until 30 September 2020 2021) (Post 30/09/2021 meets requirement when combined with an RDR compliant qualification for Activities 4 and 6) 11 1 Certificate in Securities Advice and Dealing (also known as Diploma in Regulated Financial Planning plus Unit J12) 2, 12 a … Diploma in Financial Planning (together with the appropriate gap fill offered at the time pre 31/08/2021) plus the Award in Long Term Care Insurance (Unit CF8) 7 1 Diploma in Financial Planning (subject to together with the appropriate gap fill offered at the time pre 01/09/2021) +plus AF7 Pension Transfers 11 1 Diploma in Regulated Financial Planning 4 and 6 a Diploma in Regulated Financial Planning (attained through a CII alternative assessment day)

FCA 2024/XX Page 11 of 30 Diploma in Regulated Financial Planning plus the Award in Long Term Care Insurance (Unit CF8) 7 1 Fellow or Associate (life and pensions route only) 2, 3, 12, 13 b Advanced Financial Planning Certificate 2, 3, 4 and 6, 12, 13 b Diploma in Financial Planning 4 and 6 b Fellow (FCII) (where candidates hold appropriate life and pensions modules) Fellow (FLIA Dip) Advanced Diploma in Financial Planning Associate (ACII) (where candidate holds appropriate life and pension modules)) Associate (ALIA Dip) … Certificate in Financial Planning plus(offered until 01/09/2015) together with the Award in Long Term Care Insurance (Unit CF8) 7 1 G80 paper of Advanced Financial Planning Certificate (October 2004 sitting only) plus appropriate exam requirements for TC 2.1.4R(1)(f) together with the Award in Long Term Care Insurance (Unit CF8)

FCA 2024/XX Page 12 of 30 (formerly the appropriate exam requirements for TC 2.1.4R(1)(f)) G70 Paper of the Advanced Financial Planning Certificate 8 1 … Until 30 September 2020 2021, Fellow or Associate including three pensions-related subjects as confirmed by the examining body. From 1 October 2020 2021, only when combined with an RDR compliant qualification for Activities 4 and 6. 11 1 Until 30 September 2020 2021, G60 paper of Advanced Financial Planning Certificate. From 1 October 2020 2021, only when combined with an RDR compliant qualification for Activities 4 and 6. Until 30 September 2020 2021, Unit AF3 of the Advanced Diploma in Financial Planning. From 1 October 2020 2021, only when combined with an RDR compliant qualification for Activities 4 and 6. Certificate of Insurance Practice 18 4 Certificate of Insurance Practice (life or pensions route) 18 6 FA1 - Life office administration unit Fellow or Associate (life and pensions route only)

FCA 2024/XX Page 13 of 30 Life assurance paper (735) from the Associateship Certificate of Insurance Practice (Pensions route) 19 6 Fellow or Associate (Pensions route) … Certificate in Equity Release (Formerly known as Certificate in Financial Planning and Lifetime Mortgages) 21, 22 1 23 4 5 6 Certificate in Equity Release (post-01/05/2007) 21, 22, 23 1 Advanced Financial Planning Certificate (must include a pass in G70 paper) 14 and 10 1 … Fellow or Associate 15, 16, 17, 18, 19 4 Financial Planning Certificate - Paper 1 15, 16, 17, 18, 19 4 15, 16, 17, 18, 19 5 …

FCA 2024/XX Page 14 of 30 FA2 - Pensions administration paper unit 18, 19 6 Financial Planning Certificate - Paper 2) … Pensions law, taxation and administration paper (740) from the Associateship 18, 19 6 Certificate in Investment Operations: Collective Investment Scheme Administration paper (FA4) 15, 16, 17 6 … Certificate in Investment Operations: Investment Client Servicing paper (FA6) 15, 16, 17 6 … Mortgage Advice Qualification (MAQ) plus entry requirements 20, 21, 22 1 Financial Planning Certificate - Paper 1 (No new registrations after 17/12/2004) 20, 21, 22 3 … Faculty or Institute of Actuaries Associate – achieved by examination passed before 1 December 2001 (must include a pass in Subject 301 – Investment and Asset Management (syllabus in force from 1998) 14 and 10 1

FCA 2024/XX Page 15 of 30 … Fellow or Associate by examination (must include Investment Paper E (Syllabus in force until 1998)) 14 and 10 1 … … Financial & Legal Skills Partnership (formerly the Financial Skills Partnership/Financial Skills Council (FSP/ FSSC)) FLSP Advanced/Modern Apprenticeship in Advising on Financial Products (Long Term Care Insurance Pathway) 7 1 FLSP Level 3 Advanced/Modern Apprentice ship in Retail or ProvidingFinancial Services (Investment Administration or Operations Pathway including either Asset Servicing / CREST Settlement / Global Securities or ISA and CTF Administration) 17 6 FLSP Level 3 Advanced/Modern Apprentice ship in Retail or Providing Financial Services (Investment Administration or Operations Pathway including FSA Regulatory Environment or Principles of Financial Regulation) 17 5 FLSP Level 3 Advanced/Modern Apprentice ship in Retail or Providing Financial Services (investment Administration or Operations Pathway including the Introduction to Securities and Investment module) 17 4

FCA 2024/XX Page 16 of 30 FLSP Level 3 Advanced/Modern Apprentice ship in Retail or Providing Financial Services (Long Term Insurance or Life, Pensions and Investments or Pensions Administration Pathway including CF1) 18 4 FLSP Level 3 Advanced/Modern Apprentice ship in Retail or Providing Financial Services (Long Term Insurance or Life, Pensions and Investments or Pensions Administration Pathway including CF1) 18 5 FLSP Level 3 Advanced/Modern Apprentice ship in Retail or Providing Financial Services (Long Term Insurance or Life, Pensions and Investments or Pensions Administration Pathway including CF1 and either FA1 or FA2) 18 6 FLSP Level 3 Advanced/Modern Apprentice ship in Retail or Providing Financial Services (Long Term Insurance or Life, Pensions and Investments or Pensions AdministrationPathway including CF1 and FA2) 19 1 FLSP Level 3 Advanced Apprenticeship in Advising on Financial Products (Mortgage Advice Pathway) or Level 3 Advanced Apprenticeship in Providing Mortgage Advice 20 1

FCA 2024/XX Page 17 of 30 ICMA Centre/ University of Reading (Formerly ISMA Centre/ University of Reading) … Operations Certificate Programme (OCP) (Until January 2020) 16, 17 6 … Institute of Financial Planning (until 1 November 2015) Certified Financial Planner (syllabus in force until 31 October 2015) 4 and 6 b Fellowship (syllabus in force until 31 October 2015) … Investment Management Association Investment Administration Management Award 15, 16, 17 6 … Japanese Bankers Association Registered Representative of Public Securities Examination (pre-April 1990) 8 2 Representative of Public Securities Qualification - Class 1 Japanese Japan Securities Dealers Association Class -1 Sales Representative Qualification (formerly known as the Representative of Public Securities Qualification - Type 1) 8 2 Representative of Public Securities Qualification - Type 1 (provided it is accompanied by appropriate qualifications in Regulation and Ethics, 2, 3, 12, 13 b

FCA 2024/XX Page 18 of 30 Investment Principles and Risk and Personal Taxation Representative of Public Securities Examination (pre April 1990) 8 2 … … Lloyd's Lloyd’s and London Market Introductory Test (Formerly the Lloyd’s Introductory Test) 9 1 … Sheffield Hallam University BA in Financial Services (1995 to 2001) 4 and 6 b MA in Financial Services (1995 to 2001) Post Graduate in Financial Services (1995 to 2001) … The Institute of Banking in Ireland (Formerly the Chartered Institute of Bankers in Ireland) … The London Institute of Banking & Finance Limited (From 1 April 2023) Until 31 March 2023, the qualifications were provided by The London Institute of Banking & Diploma for Financial Advisers (pre 2010 examination standards) 4 and 6 b Professional Investment Certificate …

FCA 2024/XX Page 19 of 30 Finance (formerly the ifs University College and the ifs School of Finance/Chartered Institute of Bankers) Certificate for Financial Advisers - Paper 1 (Pre 31/10/2004) 15, 16, 17, 18, 19 4 5 20, 21, 22 3 … Certificate for Financial Advisers - Paper 2 (Pre 31/10/2004) 18, 19 6 … CeMAP bridge paper plus entry requirements (Pre 31/10/2004) 21, 22 1 Certificate in Mortgage Advice and Practice (CeMAP) (Pre 31/10/2004) - Paper 1 20, 21 3 … Certificate in Mortgage Advice and Practice (CeMAP) (Pre 31/10/2004) 20, 21, 22 1 … The Securities Analysts Association of Japan (SAAJ) CMA Level 2 (for individuals advising before 30 June 2009) 2, 3, 12, 13 b CMA Level 2 (for individuals not advising before 30 June 2009 - provided it is accompanied by appropriate qualifications in Regulation and Ethics, Investment Principles and Risk and Personal Taxation) …

FCA 2024/XX Page 20 of 30 … University of the West of England BA in Financial Services (1995 to 2001) 4 and 6 b MA in Financial Services (1995 to 2001) Post Graduate in Financial Services (1995 to 2001) [Editor’s Note: The following text re-states the qualification listings moved from ‘Part 2: Appropriate Qualifications Tables’ to the new ‘Part 2B: Appropriate Qualifications no longer offered or that no longer meet our requirements’ in the manner set out above. The re-stated text is not underlined, but amendments to that re-stated text are shown below where striking through indicates deleted text and underlining indicates new text.] Part 2B: Appropriate Qualifications no longer offered or that no longer meet our requirements Qualification provider Qualification Activity Number(s) Key Blackburn College - University Centre Foundation Degree Award in Financial Services (syllabus in force until 31 October 2017) 4 and 6 a Bournemouth University BA in Financial Services (1995 to 2001) 4 and 6 b MA in Financial Services (1995 to 2001) Post Graduate in Financial Services (1995 to 2001) CASS Business School Bayes Business School (Formerly CASS Business School) MSC in Investment Management pre 2003 syllabus (provided it is accompanied by appropriate qualifications in Regulation and Ethics and Personal Taxation) 2, 3, 12, 13 b

FCA 2024/XX Page 21 of 30 Calibrand / Chartered Banker Institute (Formerly the Chartered Institute of Bankers in Scotland) Diploma in Professional Financial Advice (Post 30/4/2014) and Pre 01/03/2022) 4 and 6 a Calibrand / Scottish Qualifications Authority Diploma in Professional Financial Advice (Pre 1/8/2018) 4 and 6 a Chartered Banker Institute (Formerly the Chartered Institute of Bankers in Scotland) Diploma in Investment Planning (Existing Adviser) (Post 2010 examination standards and Pre 1/6/2015) 4 and 6 a Diploma in Investment Planning (New Adviser) (Post 2010 examination standards and Pre 1/6/2015) Diploma in Investment Planning (Retail Banking) (New Adviser) (Post 2010 examination standards and Pre 1/6/2015) Diploma in Investment Planning (Retail Banking) (Existing Adviser) (Post 2010 examination standards and Pre 1/6/2015) Diploma in investment planning (work based assessment) (Pre 1/6/2015) Associate (March 1992 to July 1994 syllabus (including top-up test)) 4 and 6 b Associate (post August 1994 syllabus) (Pre-February 2001) Certificate in Investment Planning (Pre 17/09/2004) Chartered Banker (where candidates hold UK Financial Services and Investment modules) (Pre-March 2012)

FCA 2024/XX Page 22 of 30 Diploma in Investment Planning (current)(Pre-June 2015) Associateship - (must include a pass in the Investment Paper) (Pre-March 2012) 2, 3, 12, 13 b Certificate in Investment Planning - Paper 1 (Pre￾February 2010) 15, 16, 18, 19 4 15, 16, 17, 18, 19 5 Member or Associate (Pre￾February 2010) 15, 16, 17, 18, 19 4 Mortgage Advice and Practice Certificate (closed to new entrants in 2018) 20 1 Certificate in Mortgage Advice and Practice (MAPC) (Pre 16/09/2004) 20, 21, 22 1 MAPC bridge paper plus entry requirements (Pre 31/10/2004) 20 1 Certificate in Investment Planning - Paper 1 (Pre 16/09/2004) 20, 21, 22 3 MAPC - Paper 1 (Pre 16/09/2004) 20 3 Mortgage Advice and Practice Certificate – Paper 1 (Post 17/09/2004) (closed to new entrants in 2018) 20, 21 3 Equity Release Mortgage Advice and Practice Certificate (ERMAPC) (Pre￾August 2012) 21, 22 1 Lifetime Mortgage Advice and Practice Certificate (Pre￾January 2013)

FCA 2024/XX Page 23 of 30 MAPC Bridge paper plus entry requirements (Pre 16/09/2004) Certificate in Mortgage Advice and Practice (MAPC) (Pre 16/09/2004) - Paper 1 21, 22 3 Equity Release Mortgage Advice and Practice Certificate (ERMAPC) (Pre August 2012) 23 4 23 5 23 6 Chartered Institute for Securities and Investment (CISI) - (Formerly the Securities and Investment Institute (SII): formerly the Securities Association) Diploma (where candidate holds 3 modules as recommended by the firm) (Pre 01/01/2017) 2, 3, 4 and 6, 12 13 b Certificate in Investment Management (Level 3, pre 31 December 2013) 8 1 15, 16, 17, 19 4 15, 16, 17 5 14 and 10 1 Investment Advice Certificate (Pre 17/07/2006) 2, 3, 4 and 6, 12, 13 b Masters in Wealth Management (Pre 2010 examination standards) 2, 3, 4 and 6, 12, 13 b Certificate in Derivatives – Paper 2 (Pre 01/04/2024) 15, 16, 17, 18, 19 4 Certificate in Investment Management – Paper 2 (Pre 01/04/2024) 8 2 14 and 10 Certificate in Securities and Derivatives – Paper 2 (Pre 01/04/2024) 19 4 Diploma (Pre 01/01/2017) 15, 16, 17, 18, 19 4 Diploma - Global Operations Management Module 15, 16, 17, 18, 19 4

FCA 2024/XX Page 24 of 30 15, 16, 17 5 6 Diploma (must include a pass in Regulation and Compliance Paper) (Pre 01/01/2017) 8 1 Diploma (where candidate holds 3 modules as recommended by the firm) (Pre 01/01/2017) 14 and 10 1 Investment Advice Certificate (Pre 17/07/2006) 14 and 10 1 Investment Advice Certificate – Paper 1 (No new registrations closed to new entrants) 20, 21, 22 3 Investment Advice Certificate – Paper 2 (Pre 17/07/2006) 18, 19 6 Investment Operations Certificate – Global Securities Operations Module (Pre 01/04/2024) 17 6 Investment Operations Certificate – Global Securities Operations Module (Pre 01/04/2024) 16 6 Investment Operations Certificate – Operational Risk Module (Pre 01/04/2024) 15, 16, 17 6 Level 3 Certificate in Investments (Derivatives) – Unit 3 (Pre 01/04/2024) 15, 16, 17, 18, 19 4 Level 3 Certificate in Investments (Securities) (Pre 01/04/2024) 8 1 Level 3 Certificate in Investments (Securities) - Unit 2 (Pre 01/04/2024) 15, 16, 17, 18, 19 4

FCA 2024/XX Page 25 of 30 Chartered Insurance Institute Diploma in Regulated Financial Planning (attained through a CII alternative assessment day) (Pre 29/01/2011) 4 and 6 a Fellow or Associate (life and pensions route only) (Pre 01/01/1992) 2, 3, 12, 13 b Advanced Financial Planning Certificate (Pre 01/01/2007) 2, 3, 4 and 6, 12, 13 b Diploma in Financial Planning (CII gap fill available pre 01/09/2021) 4 and 6 b Fellow (FCII) (where candidates hold appropriate life and pensions modules) (CII gap fill available pre 01/09/2021) Fellow (FLIA Dip) (Pre 01/01/2005) Advanced Diploma in Financial Planning (CII gap fill available pre 01/09/2021) Associate (ACII) (where candidate holds appropriate life and pension modules) (CII gap fill available pre 01/09/2021) Associate (ALIA Dip) (Pre 01/01/2005: CII gap fill available pre 01/09/2021) G70 Paper of the Advanced Financial Planning Certificate (Pre 01/01/2007) 8 1 … Certificate of Insurance Practice (Pre 01/01/2004) 18 4

FCA 2024/XX Page 26 of 30 Certificate of Insurance Practice (life or pensions route) (Pre 01/01/2004) 18 6 Fellow or Associate (life and pensions route only) (Pre 01/01/1992) Life assurance paper (735) from the Associateship (Pre 01/11/2012) Certificate of Insurance Practice (Pensions route) (Pre 01/01/1998) 19 6 Fellow or Associate (Pensions route) (Pre 01/01/1992) Certificate in Financial Planning and Lifetime Mortgages (Pre 01/09/2007 21, 22, 23 1 Advanced Financial Planning Certificate (must include a pass in G70 paper) (Pre 01/01/2007) 14 and 10 1 Fellow or Associate (Pre 01/01/2007) 15, 16, 17, 18, 19 4 Financial Planning Certificate – Paper 1 (Pre 01/08/2005) 15, 16, 17, 18, 19 4 15, 16, 17, 18, 19 5 Financial Planning Certificate

• Paper 2 (Pre 01/08/2005) 18, 19 6 Pensions law, taxation and administration paper (740) from the Associateship (Pre 01/11/2012) 18, 19 6 Certificate in Investment Operations: Collective Investment Scheme 15, 16, 17 6

FCA 2024/XX Page 27 of 30 Administration paper (FA4) (Pre 01/09/2019) Certificate in Investment Operations: Investment Client Servicing paper (FA6) (Pre 01/09/2019) 15, 16, 17 6 Mortgage Advice Qualification (MAQ) plus entry requirements (Pre 01/01/2005) 20, 21, 22 1 Financial Planning Certificate

• Paper 1 (No new registrations after 17/12/2004) (Pre 01/08/2005) 20, 21, 22 3 Faculty or Institute of Actuaries Associate – achieved by examination passed before 1 December 2001 (must include a pass in Subject 301 – Investment and Asset Management (syllabus in force from 1998)) 14 and 10 1 Fellow or Associate by examination (must include Investment Paper E (Syllabus in force until 1998)) Financial & Legal Skills Partnership (formerly the Financial Skills Partnership/Financial Skills Council (FSP/ FSSC)) (Dissolved on 7 April 2015) FLSP Advanced/Modern Apprenticeship in Advising on Financial Products (Long Term Care Insurance Pathway) 7 1 FLSP Level 3 Advanced/Modern Apprenti ceship in Retail or Providing Financial Services (Investment Administration or Operations Pathway including either Asset Servicing / CREST Settlement / Global Securities or ISA and CTF Administration) 17 6 FLSP Level 3 Advanced/Modern Apprenti 17 5

FCA 2024/XX Page 28 of 30 ceship in Retail or Providing Financial Services (Investment Administration or Operations Pathway including FSA Regulatory Environment or Principles of Financial Regulation) FLSP Level 3 Advanced/Modern Apprenti ceship in Retail or Providing Financial Services (investment Administration or Operations Pathway including the Introduction to Securities and Investment module) 17 4 FLSP Level 3 Advanced/Modern Apprenti ceship in Retail or Providing Financial Services (Long Term Insurance or Life, Pensions and Investments or Pensions Administration Pathway including CF1) 18 4 FLSP Level 3 Advanced/Modern Apprenti ceship in Retail or Providing Financial Services (Long Term Insurance or Life, Pensions and Investments or Pensions Administration Pathway including CF1) 18 5 FLSP Level 3 Advanced/Modern Apprenti ceship in Retail or Providing Financial Services (Long Term Insurance or Life, Pensions and Investments or Pensions Administration Pathway including CF1 and either FA1 or FA2) 18 6

FCA 2024/XX Page 29 of 30 FLSP Level 3 Advanced/Modern Apprenti ceship in Retail or Providing Financial Services (Long Term Insurance or Life, Pensions and Investments or Pensions Administration Pathway including CF1 and FA2) 19 1 FLSP Level 3 Advanced Apprenticeship in Advising on Financial Products (Mortgage Advice Pathway) or Level 3 Advanced Apprenticeship in Providing Mortgage Advice 20 1 ICMA Centre/ University of Reading (Formerly ISMA Centre/ University of Reading) Operations Certificate Programme (OCP) (Until January 2020) 16, 17 6 Institute of Financial Planning (until 1 November 2015) Certified Financial Planner (syllabus in force until 31 October 2015) 4 and 6 b Fellowship (syllabus in force until 31 October 2015) Investment Management Association Investment Administration Management Award 15, 16, 17 6 Japanese Bankers Association Registered Representative of Public Securities Examination (pre-April 1990) 8 2 Japanese Japan Securities Dealers Association Representative of Public Securities Examination (pre￾April 1990) 8 2 Lloyd's Lloyd’s and London Market Introductory Test (Formerly the Lloyd’s Introductory Test) (Pre-31/12/2015) 9 1 Sheffield Hallam University BA in Financial Services (1995 to 2001) 4 and 6 b

FCA 2024/XX Page 30 of 30 MA in Financial Services (1995 to 2001) Post Graduate in Financial Services (1995 to 2001) The London Institute of Banking & Finance Limited (From 1 April 2023) Until 31 March 2023, the qualifications were provided by The London Institute of Banking & Finance (formerly the ifs University College and the ifs School of Finance/Chartered Institute of Bankers) Diploma for Financial Advisers (pre 2010 examination standards) 4 and 6 b Certificate for Financial Advisers - Paper 1 (Pre 31/10/2004) 15, 16, 17, 18, 19 4 5 20, 21, 22 3 Certificate for Financial Advisers - Paper 2 (Pre 31/10/2004) 18, 19 6 CeMAP bridge paper plus entry requirements (Pre 31/10/2004) 21, 22 1 Certificate in Mortgage Advice and Practice (CeMAP) (Pre 31/10/2004) - Paper 1 20, 21 3 Certificate in Mortgage Advice and Practice (CeMAP) (Pre 31/10/2004) 20, 21, 22 1 The Securities Analysts Association of Japan (SAAJ) CMA Level 2 (for individuals advising before 30 June 2009) 2, 3, 12, 13 b University of the West of England BA in Financial Services (1995 to 2001) 4 and 6 b MA in Financial Services (1995 to 2001) Post Graduate in Financial Services (1995 to 2001)

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