FCA proposes minor changes to several parts of the Handbook. It plans changes to:  

  • the Training and Competence Sourcebook (TC) to add new qualifications and amend some existing qualifications;
  • the Conduct of Business Sourcebook (COBS) in respect of charging and platforms, and to clarify the rules on payments to platforms from other firms and the ban on cash rebates;
  • the Supervision Manual (SUP) to clarify existing requirements on making Suspicious Transaction Reports under the Market Abuse Directive;
  • the Prospectus Rules (PR) to clarify the timing and method of filing a prospectus with FCA;
  • the Decision Procedures and Penalties Manual (DEPP) and Enforcement Guide (EG) to reflect FCA's powers under the Legal Aid, Sentencing and Punishment of Offenders Act;
  • SUP in respect of submission of controllers and close links reporting, and minor changes to other data items FCA requires from firms;
  • SUP to reflect discontinuance of the Listing Authority Review Committee;
  • COBS to address queries FCA has received relating to inflation-adjusted pension projections;
  • The Collective Investment Schemes Sourcebook (COLL) to include links to ESMA guidance on Exchange Traded Funds and other UCITS issues;
  • Various Handbook changes to explain FCA's powers under the European Market Infrastructure Regulation (EMIR);
  • Various Handbook changes to reflect the removal of the designated investment exchange regime;
  • COBS in respect of investing in authorised funds through nominees. FCA has decided to defer implementation of its finalised rules in COBS 14.4 until 2015;
  • The Senior Management Arrangements, Systems and Controls Sourcebook (SYSC) to reflect ESMA's Alternative Investment Fund Managers Directive (AIFMD) Remuneration guidelines. FCA specifically asks for views on whether its proposals are proportionate; and
  • Various Handbook changes consequent on the AIFMD and the fourth Capital Requirements Directive (CRD4) implementation.

FCA asks for comments on the changes to TC, PR, DEPP and EG, parts of the SUP reporting chapter, COBS in respect of nominee investment in funds and changes in respect of CRD4 by 6 October and comments on all other proposals by 6 November. (Source: Quarterly Consultation No 2)