FSA has published a consultation paper on auctioning greenhouse gas emission allowances. It is proposing amendments to the FSA Handbook to comply with the new regulatory regime applicable to the auctioning of emissions allowances. The Treasury is currently conducting an informal consultation on the Recognised Auction Platforms Regulations 2011 (the Regulations) that will implement the new regime. The key change resulting from the draft Regulations will be the introduction of the Recognised Auction Platform (RAP) regime to provide a framework for the authorisation and supervision of auction platforms auctioning emissions allowances. The deadline for comments on the proposed amendments is 25 September 2011. FSA intends to finalise the proposals in the consultation through rules to be made in December 2011. (Source: Consultation paper: Auctioning of Greenhouse Gas Emission Allowances (CP11/14))