CP16/21: Quarterly Consultation Paper No. 14

Once a quarter, the Financial Conduct Authority (FCA) consult on proposed miscellaneous amendments to their Handbook. These tend to be minor changes but look for feedback on their proposals.

What happening this quarter?

The FCA proposes to:

  • make changes to the APR assumptions for consumer credit agreements
  • update the equity release rules in MCOB to facilitate the availability of lifetime mortgages where the consumer can choose to switch to interest roll-up, and to make consequential changes to SUP for the reporting of Product Sales Data
  • make changes to Short Form A
  • make changes to IFPRU 11 to increase the clarity of requirements and ensure consistency with the Recovery and Resolution Directive
  • make changes to include deferred shares issued by mutual society insurers and friendly societies with the ‘mutual society shares’ definition

Who is this consultation paper aimed at?

This will be relevant if you or your firm has any interest in any of the subjects mentioned above.

Next steps?

The FCA want to know what you think of their proposals. Comments should provided by the online response form no later than 3 October 2016 for Chapters 2, 4 and 5, and 2 November 2016 for Chapters 3 and 6.  See the Overview section of the QCP for more details.

Want to find out more?

For more information:

Source: FCA website