FSA has published its quarterly consultation. It plans changes to:  

  • IPRU(INS) in relation to submission of EEA statistical returns by insurers passporting into EEA Member States;  
  • GENPRU sourcebook to continue to apply the prudential filter when assets have been reclassified between specific categories;  
  • COLL so an umbrella scheme will no longer be required to launch one or more subsequent sub-funds within 24 months of the launch of the first sub-fund of the scheme;  
  • allow firms to pay by card when applying to vary their permissions;  
  • PERG to clarify the breadth of the "arranging" activity and the definition of personal pension schemes; and  
  • add to PERG guidance setting out FSA’s view on what packagers of structured products need to do to ensure their product does not amount to a collective investment scheme.  

It asks for comments by 6 June.