CP26/17: Quarterly consultation paper No. 52

Read CP26/17 (PDF)[1]

What we consulted on this quarter

Proposed changes:

• Following a post-implementation review of our climate disclosure rules for asset managers, life insurers and FCA-regulated pension providers, we are proposing to make changes to the product-level disclosure requirements in ESG, with consequential amendments in other areas of the Handbook. This aims to simplify the rules while maintaining our original policy intention, as set out in Policy Statement (PS) PS21/24[2].
• To amend FEES 4 Annexes 1A, 2A, 11A and 13 to set regulated income as the tariff base for Cryptoasset firms. To insert 3 additional rows to FEES 5 Annex 1R to account for new regulated cryptoasset activities.
• The Treasury published an approach to revoking provisions of the UK Capital Requirements Regulation (UK CRR) following the Financial Services and Markets Act 2023 (FSMA 2023). These proposals deal with consequential amendments to references to the definitions and provisions of the UK CRR in the FCA Handbook and Glossary of definitions.
• To allow certain authorised funds to hold cryptoasset exchange traded notes (cETNs) to a limit of 10% of scheme property.
• To delete the requirement for approvers of qualifying cryptoasset financial promotions to submit notifications following certain approvals, as the data shows that most of these promotions are compliant with our rules.
• To simplify the scheduling rule for Section M of the Retail Mediation Activities Return (RMA-M) and to update guidance to complete FIN073.

Who this applies to

This will be relevant if you or your firm has any interest in the subjects mentioned above.

Next steps

This consultation has now closed. We will publish feedback on responses in a Handbook Notice once we have reviewed your comments.

Further information

For more information, please view the FCA Handbook[3].