At its May Board Meeting, FCA made several sets of rules including the rules on restricting promotion of NMPI. Other new rules cover:

  • the Financial Conglomerates Directive (FICOD) (FCA Handbook Amendments) Instrument 2013: this amends the Glossary, the General Prudential Sourcebook (GENPRU), the Prudential Sourcebook for Banks, Building Societies and Investment Firms (BIPRU) and the Supervision Manual (SUP) from 10 June to make technical changes to bring the Handbook into line with FICOD; and
  • the Employers’ Liabiliiy Insurance: Disclosure by Insurers (No 4) Instrument 2013: this amends the Insurance: Conduct of Business Sourcebook (ICOBS) from 4 December to requir firms to make effective searches of their historical policy records when they receive an actual or prospective claim in respect of employers’ liability insurance.

The PRA instrument relating to FICOD has also been published (see further FReD 31 May). (Source: FCA Makes More New Rules)