FSA is consulting on two further pieces of rules guidance:

  • on guidance under COLL to asset managers on monitoring and reporting derivatives risks. This guidance looks at FSA's findings from a recent survey and recommends good practices; and
  • on a letter to CEOs on systems and controls requirements relating to the liquidity regime. The letter sets out the conclusions from FSA's review of how firms are meeting its rules and urges firms to pay particular attention to areas it found to be generally weak.

FSA wants comments on its drafts by 20 and 23 December respectively.