FCA's first quarterly consultation paper covers:

  • proposed changes to the Insurance: Conduct of Business Sourcebook (ICOBS) to make the claims handling rules consistent with the Consumer Insurance (Disclosure and Representations) Act 2012;
  • amendments to the Perimeter Guidance Manual (PERG) on aspects of Mortgage Market Review (MMR) implementation, specifically mortgage advice, professional standards and pipeline applications;
  • a correction to the definition of "platform service" to include execution-only firms that also arrange for safeguarding and administration of their customers' investments and an updated compatibility statement;
  • changes to the Training and Competence Sourcebook (TC) to add six new qualifications; and
  • changes to the Decision Procedure and Penalties Manual (DEPP) and Enforcement Guide (EG) arising from AIFMD implementation.

It asks for comments on the first three proposals by 6 August and the others by 6 July. (Source: FCA Publishes Quarterly Consultation)