The FSA has published Consultation Paper 07/18, Quarterly Consultation (No. 14) (CP07/18). In CP07/18 the FSA proposes amendments to:
- General Prudential sourcebook.
- Prudential sourcebook for Banks, Building Societies and Investment Firms.
- Prudential sourcebook for Mortgage and Home Finance Firms, and Insurance Intermediaries.
- Glossary of definitions and the New Conduct of Business sourcebook.
- upervision manual, the Credit Unions sourcebook, the General Provisions sourcebook, the Decision Procedure and Penalties manual and the Listing Rules.
- Collective Investment Schemes sourcebook.
- Prudential sourcebook for Insurers and the Interim Prudential sourcebook for Insurers.
- The Complaints against the FSA sourcebook.
In chapter 7 of CP07/18 the FSA sets out proposed amendments to the Collective Investment Schemes sourcebook (COLL). The purpose of the proposed amendments are to:
- Implement the provisions of Commission Directive 2007/16/EC, which clarifies the definition of certain terms used in the UCITS Directive (85/611/EC).
- Enable authorised funds to take advantage of investment powers provided for in the UCITS Directive in relation to covered bonds.
- Give managers and depositaries greater flexibility to provide indemnities and guarantees and to enter into agreements giving the counterparty a right of lien or charge over scheme property.
- Modify the text of COLL to bring it closer into line with certain UCITS Directive provisions.
The deadline for comments on CP07/18 is 5 December 2007.
View Quarterly Consultation (No.14), 5 October 2007