The FSA has published Handbook Notice 95. This Handbook Notice introduces the FSA Handbook and other material made by the FSA Board under its legislative powers on 27 November and 10 December 2009.
On 27 November, the FSA Board made changes to the FSA Handbook in two instruments which:
- Update the FSA Handbook to take into account the changes in terminology that have resulted from the Treaty of Lisbon.
- Amend several modules of the FSA Handbook from 1 December, in line with the liquidity BIPRU 12 rules, as well as the phased approach of the other elements of the regime that switch on between June and November 2010.
On 10 December, the FSA Board made changes to the FSA Handbook in six instruments which:
- Make minor administrative corrections to the FSA Handbook, none of which represents any change in FSA policy.
- Correct an omission to rules on application fees.
- Correct an anomaly in the rules for calculating Modified Eligible Liabilities in fees.
- Introduce a new chapter in the FSA Handbook (SYSC 20) that will require firms to test their business model to failure (reverse stress testing), clarify the FSA’s existing requirements on stress testing and scenario analysis in Pillar 2 and clarify that firms must consider in their stress tests an appropriate range of adverse scenarios of varying nature, severity and duration.
- Lower the capital requirements for some short-term trade finance transactions carried out by large UK banks.
- Strengthen controls over the investment activities of retail authorised funds.
View Handbook Notice 95, 14 December 2009