FCA has published a policy statement providing feedback to its now-closed consultation on non-ring-fenced body (NRFB) disclosures to consumers (see FReD 17 July 2015). This relates to:
- FCA’s overall approach;
- the information to be provided, to whom, when and how;
- implication of ring-fencing for other FCA rules; and
- other issues.
FCA’s near-final rules on these disclosures, amending the Handbook’s Glossary and Banking Conduct of Business sourcebook, has a draft commencement date set for 1 April. The commencement date will be early to give firms plenty of time to provide the necessary information to customers. (Source: FCA feeds back on NRFB disclosure rules)