This Policy Statement summarises the feedback we received to our Consultation Paper CP18/20, and sets out the final policy positions we have reached, taking into account the feedback we have received. It also contains the final rules which implement the policy decisions that have been made.
We are introducing a package of rules and guidance to improve standards in the sector. In summary, this PS confirms that we are:
This Policy Statement will be of interest to:
The new rules and guidance will come into force on 9 December 2019, with the exception of applying MCOB to P2P platforms that offer home finance products, which comes into force on 4 June 2019.
If your firm is affected by the final rules and guidance detailed in this Policy Statement, you must consider what changes you need to make to ensure you have implemented necessary changes by these commencement dates.