The PRA has published an occasional consultation paper (CP3/16), which sets out its proposals to delete rules and guidance from the PRA Handbook that have been replaced, or are in the process of being replaced, by rules in the PRA Rulebook or supervisory statements.
The PRA proposes to make the deletions listed below with effect from 7 March 2016. They do not relate to a change in PRA policy. The consultation closes on 12 February 2016.
The proposals relate to deletions in:
- Schedule 5A to the Supervision manual (SUP). This provides guidance on rules in SUP, contravention of which by an authorised person may be actionable under section 138D of the Financial Services and Markets Act 2000.
- Chapters 1, 4-9 and 21 of the Senior Management Arrangements, Systems and Controls sourcebook (SYSC). SYSC 4-9 contain a range of rules including those on general organisation requirements, personnel, compliance and audit, risk controls, outsourcing and record-keeping. SYSC 21 contains additional material on risk controls. SYSC 1 contains the application provisions for SYSC, which will be redundant if the remaining parts of SYSC are deleted as proposed.
- SUP 16. This contains various annexes that have been superseded by rules in the PRA Rulebook or supervisory statements. Table A in CP3/16 lists the remaining annexes in SUP 16 that have yet to be proposed for deletion, the intended location in the PRA Rulebook or supervisory statement, and the consultation paper or policy statement that has proposed or replaced them.
- Schedules 1-3 and 5 of the Fees manual (FEES). These schedules were created in 2009 as ‘to follow’ guidance with the intention of adding substantive content at a later date. However, they have remained unchanged. The PRA proposes to delete these provisions as the rest of the FEES module will be deleted.