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.
CP20/23: Quarterly Consultation Paper No 30 (PDF)
What we are consulting on this quarter
We are proposing:
- To clarify our expectations for temporary, long-term absences;
- To remove references to collective investment schemes being able to issue bearer certificates, in line with draft Government legislation banning the use of bearer certificates;
- To amend the rules in COBS 4.5.12R to COBS 4.5.15R to narrow the scope of their application to communications which could influence a retail investor’s investment decision;
- To make changes to the minimum levels of professional indemnity insurance (PII) cover to align our rules with the revised limits as published in Commission Delegated Regulation (EU) 2019/1935 amending the Insurance Distribution Directive (IDD);
- To make changes to the cancellation form in SUP 6 Annex 6 to improve the cancellation application process;
- To Transpose Article 1(16) of the Bank Recovery and Resolution Directive II ((EU) 2019/879) into FCA rules;
- This Chapter does not propose changes to our Handbook, and instead seeks views from interested stakeholders about whether the Global Precious Metals Code meets our Codes Recognition Criteria.
Who this applies to
This will be relevant if you or your firm has any interest in the subjects mentioned above.
Next steps
We want to know what you think of our proposals. Please use this online form or alternatively email: [email protected]
Comments should reach us by 4 February 2021 for Chapters 3, 4, 5, 7 and 8, and 4 January 2021 for Chapter 6.
The FCA and the Prudential Regulation Authority (PRA) invites comments on Chapter 2 of this Consultation Paper, which should reach us by 4 January 2021.
Any comments received on Chapter 2 will be shared with the PRA for joint consideration.
Further information
For more information please view the FCA Handbook.