An Order amending the RAO in respect of sale and rent back activities was published on 1 June. The changes bring arranging, advising and entering into and administering sale and rent back agreements within the scope of FSMA, subject to some exclusions. The Order brings in the interim regime from 1 July 2009. Firms may apply for interim permissions or variations of permission by 1 August 2009 which will enable them to carry on business until 30 June 2010 (with some exceptions), when the full regime starts. The order must be approved within 28 days by both Houses of Parliament.
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Sale and rent back order published
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