FSA's quarterly consultation on minor changes to its handbook proposes changes to:

  • SYSC in relation to the scope of the requirement to do reverse stress-testing;
  • mainly BIPRU in relation to miscellaneous parts of CRD3 (apart from the provisions on remuneration) that must be implemented by January 2011;
  • INSPRU to eliminate reciprocal financing;
  • COBS in relation to trail commission and adviser charging;
  • MAR following a decision in the European Court of Justice – FSA believes it no longer needs to have evidence of a person's intention in order to prove insider dealing and wants to delete an evidential provision that suggested it would;
  • TC in respect of retail qualifications and to introduce new data reporting requirements;
  • SUP in respect of credit and counterparty risk reporting;
  • COMP in relation to the deposit compensation limit; and
  • COLL to give more clarity on aspects of scheme management.

It wants comments on the changes to SYSC, BIPRU, TC and COMP by 6 November and on other parts of the consultation by 6 December.