Regulatory AlertsCP20/23: Quarterly Consultation Paper No 30
The Financial Conduct Authority and Prudential Regulation Authority propose clarifying regulatory expectations for Senior Managers taking temporary long-term absences to reduce administrative burdens and ensure consistent notification processes. The FCA also seeks comments on abolishing bearer certificates in collective investment schemes to align with international anti-money laundering standards and amending COBS rules to narrow their scope regarding retail investor communications. Additionally, the document outlines changes to professional indemnity insurance minimums, cancellation application forms, transposition of Bank Recovery and Resolution Directive II, and recognition of the Global Precious Metals Code.
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