On December 10, the UK Financial Services Authority published Close Links (consultation paper CP 07/21) calling for submissions on its proposals to remove the annual close links reporting requirement and providing more detail on event driven and monthly close links notifications and currently applicable to FSA regulated entities.

The paper also sets out proposed changes to close links notifications associated with temporary investments and includes proposals to change FSA’s threshold condition 3 for obtaining authorization.

The consultation closes on March 14, 2008.