In response to the coronavirus, we are reviewing our work plans to delay or postpone activity that is not critical to protecting consumers and market integrity in the short-term.
Delaying or postponing certain activities will allow firms to focus on supporting their customers during this difficult period. One of the immediate actions we are taking is to extend the closing date for responses to our open consultation papers and calls for input until 1 October 2020 and rescheduling most other planned work.
We have also scaled back our programme of routine business interactions, especially through meetings so that we only contact firms on business-critical requests and responses to the current situation.
We will continue with a small number of regulatory changes that support consumers, particularly the most vulnerable, or where major long-term programmes would be disrupted.
Delayed consultation papers and calls for input
We have decided to extend the closure dates for the following published consultation papers and calls for input until 1 October 2020.
|Delayed consultation papers||Date|
|CP20/4: Quarterly Consultation No 27||1 October 2020|
|CP19/32: Building operational resilience: Impact tolerances for important business services||1 October 2020|
|CP20/1: Introducing a Single Easy Access Rate for cash savings||1 October 2020|
|CP20/3: Proposals to enhance climate-related disclosures by listed issuers and clarification of existing disclosure obligations||1 October 2020|
|CP20/5: Consultation paper on ETF Listing: Premium to Standard Listing||1 October 2020|
|Delayed calls for input||Date|
|Open Finance||1 October 2020|
|Accessing and using wholesale data||1 October 2020|
Delays to publications and other activity
We have decided to delay the following publications due before end June. We will provide updates at an appropriate point.
|Other delayed publications||Date|
|Joint PRA-FCA work with the Climate Financial Risk Forum (CFRF) to develop industry led guidance on how to integrate climate related risks into business decision making across the financial services sector||Q2 2020|
|Motor Finance Policy Statement||Q2 2020|
|Consultation Paper on mortgage switching||Q2 2020|
|Vulnerability Guidance and Vulnerability Research||Q2 2020|
|Options to change our regulatory framework following our Duty of Care Feedback Statement||Q3 2020|
|Consumer Credit Act (CCA) review||TBC|
|Credit Information Market Study – Interim Report||Q2 2020|
|GI Pricing Final report and Consultation Paper on remedies||TBC|
|Consultation Paper: Our approach to market integrity and wholesale markets||Q2 2020|
|Consultation Paper: Investment Platforms exit fees remedy||Q2 2020|
|Consultation Paper: Claims Management Company fee rules project||Q3 2020|
|Consultation Paper: Aligning our guidance on selective disclosures with case law||Q2 2020|
|Consultation Paper: Removing the minimum repayment amount from the manual repayment screen of credit card, store card and catalogue credit customers||Q2 2020|
|Consultation and Discussion Papers: Value for money||Q2 2020|
|CBEST Thematic Assessment Review||Q2 2020|
|Multi Firm Review: Key findings on the sale and advice of equity release||Q2 2020|
|Multi Firm Review: Wholesale Broker Remunerations||Q2 2020|
|Value Measures Pilot: General Insurance||Q2 2020|
|Feedback Statement: Intergenerational Differences||Q2 2020|
|Policy Statement: Pension transfer advice: contingent charging and other proposed changes||Q2 2020|
|Directory of certified persons (due to be published on the Financial Services Register)||Q2 2020|
|Assessing Suitability Review 2||TBC|
|Policy Statement: Prohibiting the sale to retail clients of investment products that reference cryptoassets||Q2 2020|