FCA Quarterly consultation
Regulatory Updates | 08/06/21
The Financial Conduct Authority (FCA) set out proposals in Consultation Paper (CP 21/16) to amend the FCA Handbook.
The proposals include:
- amendments to CONC 6.7.4 to enable firms providing credit cards to offer instalment plans to customers without requiring a rule modification (Chapter 2);
- changes to the rules creating high-cost short term credit refinancing and peer-to-peer lending information sheets (Chapter 3);
- an amendment to Mortgage Lenders and Administrators Return (MLAR) due to the cessation of LIBOR (Chapter 4); and
- amendments to DEPP and FEES concerning a new FCA power to cancel or vary FCA-authorised firms’ Part 4A permissions (Chapter 5).
Comments on the proposals should reach the FCA by 5th July 2021 for Chapters 3 and 5, and 2nd August 2021 for Chapters 2 and 4.