FCA has published its policy statement and final rules following its consultation (see FReD 13 November 2015) on the treatment of first charge mortgages that are regulated by the Consumer Credit Act 1974 (CCA) and FCA’s Consumer Credit sourcebook (CONC) and sets out its final rules in the Mortgage Contracts (Legacy CCA) Instrument 2016. This instrument took effect on 21 March but will only apply when the affected loans become regulated mortgage contracts on 21 March 2017. This is the case unless the firm in question takes steps to apply the relevant rules before that date. The changes amend several parts of the Handbook, including the Mortgage and Home Finance: Conduct of Business Sourcebook (MCOB), Prudential Sourcebook for Mortgage and Home Finance Firms and Insurance Intermediaries (MIPRU) and Supervision Manual (SUP) as well as the Perimeter Guidance (PERG). (Source: FCA publishes policy on CCA first charge mortgages)