We may offer a general waiver or modification to firms.
These are offered where an unmodified rule would not meet the circumstances of a particular category of firm. If a particular waiver is relevant to other firms, this will be publicised.
How to apply for waivers and modifications by consent
We update monthly the list of available waivers and modifications by consent below.
If a modification by consent applies to your firm, you can notify us to take advantage of the modification rather than complete an application form. You may already have been notified of these modifications if your firm fits a particular category. You will also find the contact details for our central waivers team on our list of current waivers and modifications by consent.
COBS and COLL
Modification by consent of COBS and COLL
Available to authorised fund managers of non-UCITS retail schemes.
Modification by consent of COBS 13 Annex 2
Available to firms preparing Key Features Illustrations and other projections for a packaged product.
Modification by consent of COBS 13 and 14
We have made a modification by consent available to ensure that there is a methodology for projections for UFPLS payments consistent with the methodology required for drawdown pension projections. It also makes clear that where a customer intends to withdraw their fund in full, whether by drawdown or UFPLS, any requirements to produce a projection are waived.
Modification by consent of COLL 5.6.22R
Available to the depositary of a non-UCITS retail scheme (NURS) whose investment objective and policy include the power to invest in immovable property. For a NURS constituted as an ICVC, it also applies to the ICVC itself.
Modification by consent - SUP 16.12.5R (Note 5), SUP 16.12.11R (Note 5), SUP 16.12.15R (Note 5), SUP 16.12.22AR (Note 5) and SUP 16.12.25AR (Note 5)
Available to firms with a CAD2 waiver.
Modification by consent of SYSC 21.2.1
Available to firms undertaking a ringfencing transfer scheme.
Modification by consent of CASS 1A.1.1R (3)
For firms which have been classified as CASS Medium or CASS Large as a result of its client money holdings and has now wound up its client money holdings and cancelled its client money permissions.
Modification by consent of ICOBS 8.4.4 R(1)
This modification will enable The Employer’s Liability Trading Office to be classed as 'an auditor' for the purposes of ICOBS 8.4.4R (1) (C).