FSA made several changes to its Handbook at its September 2012 Board Meeting:
- the Handbook Administration (No 27) Instrument 2012 amends various parts of the Handbook from 1 October to make minor clarificatory changes;
- the Advanced Measurement Approach (AMA) Guidelines Instrument 2012 amends the Senior Management Systems and Controls Sourcebook (SYSC) and the Prudential Sourcebook for Banks, Building Societies and Investment Firms (BIPRU) also from 1 October to adopt EBA’s guidelines on AMA;
- the Compensation Sourcebook (Amendment No 9) Instrument 2012 amends the Glossary and the Compensation Sourcebook (COMP) from 1 October 2012 and 1 April 2013 to improve the speed of compensation payments and reduce the costs of the Financial Services Compensation Scheme (FSCS) in processing claims;
- the Professional Firms (Amendment No 2) Instrument 2012 amends the Professional Firms Sourcebook (PROF) from 1 April 2013 to deal with a regulatory gap relating to “non-mainstream regulated activities” that professional firms carry out; and
- the Listing Rules (Sponsors) (Amendment No 2), Listing, Prospectus and Disclosure Rules (Miscellaneous Amendments No 2), the Listing Rules (Reverse Takeovers), the Listing Rules Sourcebook (Amendment No 8), the Listing Rules (Financial Information) (Amendment), the Listing Rules (Sponsors Amendment No 3) and the Prospectus Regulation (Amendment No 2) Instruments 2012 amend the Glossary, Listing Rules, Prospectus Rules and Disclosure and Transparency Rules mainly from 1 October. The changes modify various provisions of this block of rules, including to introduce a rule that companies that outsource significant management functions to advisory firms cannot be premium listed.
(Source: Handbook Notice 123)