The FSA has published Consultation Paper 10/11: Implementing aspects of the Financial Services Act 2010 (CP10/11). In CP10/11 the FSA describes its policy relating to certain provisions of the Financial Services Act 2010 (the Act).
These policies cover:
- Using the short selling disclosure rule-making power (chapter 2).
- Using the power to impose financial penalties on those who breach short selling rules (chapter 3).
- Using the power to suspend firms and individuals (chapter 3).
- Using the power to impose financial penalties on individuals who have carried out controlled functions without approval (chapter 3).
- Using the financial stability information gathering power (chapter 4).
- Altering the Fees manual to give the Financial Services Compensation Scheme the power to levy for management expenses incurred when acting on behalf of another compensation scheme and to reflect the Special Resolution Regime funding changes (chapter 5).
The deadline for comments on CP10/11 is 25 June 2010.
The FSA will publish a separate Consultation Paper on remuneration issues by the end of Q2 2010, which will include changes arising from the Act.
View Consultation Paper 10/11: Implementing aspects of the Financial Services Act 2010, 26 April 2010