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 CP closes|
|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 CFI closes|
|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||Publishing 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||Q3 2020|
|Vulnerability Guidance and Vulnerability Research||29 July 2020|
|Consultation Paper: Mortgage switching||H2 2020|
|Consultation Paper: Our approach to market integrity and wholesale markets||H2 2020|
|Consultation Paper: Aligning our guidance on selective disclosures with case law||H2 2020|
|Consultation Paper: Joint principles and New Consumer Duty||H2 2020|
|Consultation Paper: Effective competition in non-workplace pensions||H2 2020|
|Consultation Paper: Claims Management Company fee rules project||H2 2020|
|Consultation Paper: Mortgage switching||2021|
|Consultation Paper: Investment platforms exit fees remedy||2021|
|Consultation Paper: Removing the minimum repayment amount from the manual repayment screen of credit card, store card and catalogue credit customers||TBC|
|Consultation Paper: Our approach to market integrity and wholesale markets||TBC|
|GI Pricing Final report and Consultation Paper: Remedies||TBC|
|Market Study: Credit information (interim report)||2021|
|Multi Firm Review: Key findings on the sale and advice of equity release||H2 2020|
|Multi Firm Review: Wholesale Broker Remunerations||H2 2020|
|Value Measures Pilot: General Insurance||H2 2020|
|Directory of certified persons (due to be published on the Financial Services Register)||H2 2020|
|FCA and Practitioner Panel Survey||H2 2020|
|Options to change our regulatory framework following our Duty of Care Feedback Statement||H2 2020|
|Consumer Credit Act (CCA) review||TBC|
|Assessing Suitability Review 2||TBC|
Delayed implementation of rules
|Delayed rules||Publishing date|
|Policy Statement: Motor Finance||H2 2020|
|Policy Statement: Pension transfer advice: contingent charging and other proposed changes||H2 2020|
|Policy Statement: Prohibiting the sale to retail clients of investment products that reference cryptoassets||H2 2020|
|Policy Statement 19/21: Retirement Outcomes Review: feedback on CP19/5 and our final rules and guidance||1 February 2021|
|Policy Statement 19/29: Making transfers simpler – feedback to CP19/12 and final rules||1 February 2021|
|Policy Statement 18/20: Improving the quality of pension transfer advice (Pension Transfer Specialist qualifications only)||1 October 2021|
|Policy Statement: Introducing a Single Easy Access Rate for Cash Savings||2021|
|Policy Statement 20/03: Signposting to travel insurance for consumers with medical conditions||TBC|