In its Board Meeting of 13 December, FSA made the following new rules as well as those highlighted above:

  • the Handbook Administration (No 28) Instrument 2013: this makes minor administrative corrections to several parts of the Handbook, none of which represents any change in FSA policy. Most of the changes take effect on 31 December 2012 or 1 January 2013, but changes to the Retail Mediation Activities Return take effect on 31 December 2013;
  • the Retail Distribution Review (RDR) (Holloway Sickness Policies) (Amendment) Instrument 2012: this amends the Conduct of Business Sourcebook (COBS) and Glossary so that the wording of the exemption from RDR rules for certain Holloway policies reflects FSA’s policy intention. The changes take effect on 31 December 2012;
  • the Senior Management Arrangements, Systems and Controls (SYSC) (Remuneration Code) (No 5) Instrument 2013: this amends SYSC from 14 December 2012 to make the rules on voiding and recovery consistent with the changes to the general guidance on proportionality;
  • the Training and Competence Sourcebook (TC) (Qualifications Amendments No 7) Instrument 2012: this makes changes to the appropriate qualifications lists in TC from 31 December 2012;
  • the Fees (Miscellaneous Amendments) (No 5) Instrument 2012: this amends the Fees Manual and SUP from 14 December 2012 to replace headcount with an income measure for investment advisers, arrangers, dealers and brokers, and corporate finance advisers; and
  • the RDR (Adviser Charging) (No 6) Instrument 2012: this amends COBS from 31 December 2012 in respect of the adviser charging and remuneration rules regarding referrals to discretionary investment managers.

(Source: Handbook Notice 125)