At FSA’s July board meeting it made several new rules:

  • Emissions Allowance Auction Bidders Instrument 2012: this amends many parts of the Handbook from 27 July to cover the new regulated activities relating to emission auction allowances (see FReD 29 June);
  • Conduct of Business Sourcebook (COBS) (Mortality Assumptions For Future Annuity Projections) Instrument 2012: this amends COBS from 21 December to change the mortality basis firms must use for personal pensions calculations (see below);
  • Packaged Bank Accounts Instrument 2012: this amends ICOBS from 31 March 2013 to introduce the packaged bank account rules described above;
  • Market Conduct Sourcebook (MAR) (Amendment No. 11) Instrument 2012: this amends MAR from 1 August in respect of passing inside information to buyers, regarding the sale of stock by persons discharging managerial responsibilities;
  • Credit Unions New Sourcebook (Consequential Amendments No. 2) Instrument 2012: this amends the Supervision (SUP) and Compensation (COMP) Sourcebooks and the new Credit Unions Sourcebook (CREDS) from 1 September. The changes make regulation of credit unions in Great Britain and Northern Ireland consistent;
  • Recognised Investment Exchanges and Recognised Clearing Houses Sourcebook (REC) (Financial Resources Requirements) Instrument 2012: this amends REC from 1 February 2013 to set new financial resources requirements for recognised bodies;
  • Listing Rules (LR) (Related Party Transactions) Instrument 2012: this amends LR and the Glossary from 1 August by introducing a new definition of “substantial shareholder”;
  • Listing Rules (Contact with the FSA) Instrument 2012: this amends the Glossary, SUP and the Disclosure, Transparency and Reporting (DTR) Rules from 30 September in respect of communications with the UK Listing Authority; and
  • Retail Distribution Review (Platforms) (Amendment) Instrument 2012: this amends COBS and the Glossary from 27 July (deferred date) to require platform service providers and nominee companies to provide fund information and voting rights.

FSA has also amended the Perimeter Guidance (PERG) to give guidance on the new regulated activity of bidding in emissions auctions. (Source: FSA Makes New Rules)