FSA expects to publish, before the end of 2012:

  • consultation papers on financial conglomerates and on mutuality and with-profits funds; and
  • policy statements on packaged bank accounts, portability of client assets and Solvency 2.

The policy statements on recovery and resolution plans and on payments to platforms and cash rebates are now expected for the first quarter 2013. Among other key consultations in early 2013 are a second consultation on implementation of the Alternative Investment Fund Managers Directive (AIFMD), consultation on the transition of consumer credit regulation and transitional provisions for regulatory reform. FSA will also publish policy statements on its first two consultations on rule changes to accommodate the new regulatory structure. (Source: Policy Development Update No 153)